These tournaments do not allow re-buys or add-ons (rebuys chips). You only use your starting chips, which you receive before the start of the game. Once you lose all the chips there is no way to re-buy back into the tournament.
Re-buy / add-on tournaments
When playing in this kind of poker tournament, you are allowed to buy additional chips that is typically the same amount with which you started the game. So if the starting chip stack was 3000 chips you’d buy in for another 3000 in chips. The rebuy period is usually only when you lose all your chips. So, instead of having to leave the game, you will be able to play your hands a little more aggressively knowing you can rebuy if you lose your original starting stack. Add-on tournaments are similar to re-buys, though you get to add more chips at a predetermined time in the tournament, typically after a break. It’s also worth mentioning that the more players that make additional purchases of chips during the game, the greater the prize money.
Such tournaments have become very popular in the online poker world. In these tournaments, you are fighting for a place in a big tournament (online/live). Satellites can take place in one or several tables. These tournaments provide a good chance to participate in tournaments you wouldn’t normally be able to afford to buy into with your own money with prize money in the tens of thousands of dollars.
Bounty or knockout tournaments have also become very popular in recent times. They are typically featured at online poker rooms that have widely recognized poker pros that sponsor the site, since many recreational players would be interested in playing in tournaments against these world class players. The “bounty” rules in these tournament will vary from tournament to tournament, but the basic premise of them is you will receive bonus prize money (i.e. a bounty) for knocking out other players in the tournament.
Considerations before playing in poker tournaments
Regardless of the type of tournament you wish to play in, another consideration is the blind structure. A fast blind structure will mean you will be playing short stacked at the final table making it somewhat of a crapshoot as you will need to make good hands in order to win. On the other hand, a tournament that has a good blind structure will progress through blind levels at a slower rate which is advantageous to skilled players, and the late stages and final table of such tournaments will feature deeper stacks so real poker can be played with lots of flop, turn, and river play.