I like the experience gained in the freerolls and the chance of winning a few bucks without using my $$$. The one thing is that you need the time and thats my biggest challenge
Freerolls are good in that they teach patience. If you aren't trying to be serious at them, don't waste your or your opponents time. Play fairly tight during the first hour to get a feel for the tourney and aviod loose players.
I don't consider freerolls a wasste. It's good practice for the cost of nothing (hence FREEroll). If you win, then whoop de doo. You get a small prize. It teaches you to be patient and wait for cards, something I had trouble with when I first began.
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