Stopping Bluffs
Essentially the strategy to stop bluffs is to represent more strength than you actually have. Your opponent will not try to bluff, thinking you have at least a calling hand and perhaps better.

Let's say you are playing draw poker, jacks or better to open, against someone you want to stop from bluffing. As the dealer in last position, you open with a pair of aces. After having originally checked in a very deep position, the potential bluffer now calls you. There is no chance that player has something like two pair, since in that case he would have opened himself. Instead he must be on the come. Drawing first, he takes one card, which either makes his hand or doesn't. Now you stand pat! Even when you check after the draw, your opponent will almost never bet unless he actually made his hand. He certainly will not try a bluff in the hope that you will throw away a pat hand. He probably won't even bet a small straight. If he does bet, he's made his hand, and you fold, knowing you have not cost yourself any money - that is, knowing your opponent did not steal the pot from you.

To stop a bluff in this spot, some players would draw one card, representing two pair, and many players would draw two, representing three-of-a-kind. But in either case, their opponent may still bluff, and he will probably be bluffing approximately correctly. By standing pat, you are stopping the bluff almost completely at almost no cost to yourself. Since you have two aces, there is no chance your opponent can catch a bigger pair than yours, and the odds are approximately 500-to-1 that you would make a full house by drawing three cards at the same time that your opponent makes a straight or flush.

By stopping a bluff in this fashion, you have reduced your opponent's chances of winning money from you to a minimum. Let's assume the opponent who draws one card makes the hand 20 percent of the time. When that opponent never bluffs - and by standing pat you have pretty well forced him not to bluff - you win the pot 80 percent of the time. Given the pot's size, your opponent's proper bluffing frequency, according to game theory, is about 7 percent. However, as long as your opponent bluffs anywhere from 1 percent to 20 percent of the time, he does better than if he doesn't bluff at all. If, for instance, he bluffs only 2 percent of the time, you still shouldn't call when he bets, and now he wins 22 percent of the pots rather than 20 percent. If he bluffs 10 percent of the time, he is still a 2-to-1 favorite to have his hand made when he bets. Since the pot is giving you better than 3-to-1 odds with the antes, you are forced to call, but you will lose that last bet two times out of three. So you clearly fare better when this opponent never bluffs (or, of course, bluffs way too much) than when he bluffs anywhere near correctly.
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Rebuy Rebus
 
What should you do?

A) Buy in, but plan not to rebuy or add on.
B) Buy in, and plan to make the add-on only.
C) Spend as much as you need to, and bankroll be damned.
D) Skip it.

COMMENT: There are a lot of extrinsic factors to consider here, including the size and quality of the field, the fact of the guaranteed minimum prize pool, and the really nice hat. But these extrinsic figures pale to insignificance in relation to this one intrinsic question: How do you feel going in? Your state of mind will skew your decision-making process here, and three times out of four it'll lead you down a wrong road.

Suppose you decide to enter the tournament, but not to rebuy or add on. You're good for one shot, you figure, and if you bust out, well, so be it. This plan yields significant edge to your more profligate foes. Knowing that they can't go broke till the rebuy period ends, they'll play the early rounds with a confidence you won't have. Also, if they add on and you don't, they'll enter the post-rebuy period better equipped for combat. Overall, this scheme will only work for you if you play well enough (or get lucky enough) to never need a rebuy and also to emerge from the first round of play with so many chips that adding on wouldn't materially improve your position. This can happen, but it's rare, and especially so when your unwillingness to rebuy has tied a hand behind your back during the first phase of play.
 
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