What is a Re-buy Tournament?

Some tournaments offer the option to re-buy after you have been knocked out of the game. This allows a player to buy back in the tournament with the original number of starting chips. It may seem somewhat unfair, but keep in mind that the re-buy value goes into the prize pool. Therefore these events can have a considerable amount of money involved. Its also good to remember that beginners continually pay the re-buy fee after getting knocked out.

Go in Knowing
 
Experienced players will enter a tournament under the assumption they will more than likely buy back in. It may just happen that you lose out because of bad luck or a bad decision. With the option to buy back in this allows players to get back into the action and maximizes the chance of winning.
 
The First Hour

Players are allowed to make as many re-buys as they like during the first hour of the tournament. After the hour has passed they are only allowed to make a final re-buy, which is known as an add-on in Texas Holdem Poker Circles.