Rebuy tournaments may seem largely identical to freezeouts, but they are actually a very different beast, and require a very different playing style in the early stages. Failing to recognise this and make the necessary adjustments is a huge mistake, and one that will severely hinder your chances of going deep.
Just as you’d never play a cash game as if you couldn’t reload, you shouldn’t play a rebuy on a single bullet. Before entering any rebuy tournament you should be comfortable spending at least five times your initial outlay (view a $10 rebuy as a $50 tournament). You might spend less or more but five buy-ins allows for at least an initial rebuy at the very beginning, a double rebuy should you bust and an add-on at the end of the rebuy period.
At PKR you can take a rebuy to double your stack before a hand is even dealt. You should always take this option, even if no one else at your table takes one, as it allows you to get paid the maximum should you pick up a hand. Likewise, if you ever dip below the initial starting stack you should top yourself up because your goal during the rebuy period is to get as many chips as you can for when the freezeout period begins.
Different roads
There is no right or wrong way to approach a rebuy, as play will be very table-dependent and you should play whichever way comes naturally. I’ve seen the nittiest nits and the laggiest LAGs prosper in rebuys and as the saying goes it’s usually a good idea to play the opposite way to how your table is playing.
Having said that, playing looser and faster during the rebuy period can work in your favour, as you have the safety net of buying back in and there are some pretty standard adjustments you can make without taking a train to Spewville. Unless your table is really tight there’s simply no need to slow-play or limp big hands, as players are generally going to three-bet and even over-shove with a wider range. When you pick up a premium hand you should try to inflate pots to maximise value and also force opponents to make bigger mistakes. Postflop you can afford to play good draws aggressively because if you miss, you rebuy! Even if you run ridiculously bad and find yourself in for a dozen or so buy-ins having missed every draw in sight, never ever quit prior to the end of the rebuy period, but be thankful to those who do.