Freezeouts and rebuys differ mainly in their structure and strategy. In a freezeout tournament, players are eliminated once they lose all their chips, leading to a more conservative and strategic approach. Rebuy tournaments, on the other hand, allow players to purchase more chips after going bust, often resulting in a looser and more aggressive early-game dynamic. The prize pool in freezeouts is fixed, while in rebuys, it can grow significantly due to additional buy-ins. These differences affect both risk management and overall gameplay style.