Satellites

The big tournaments can be alluring, but the cost to enter is often to steep for the most of us. Perhaps the World Series of Poker is the perfect example of this. Every poker player wants win millions of dollars and a coveted gold bracelet, but it is not the strive of every poker players and most back off as an entry into the tough main event costs $10,000. A solution to this discrepancy is the satellite tournament.

A satellite is a tournament where one or a few players wins a seat in a bigger event instead of cash. Satellites can be played as multi-table tournaments or as sit'n'gos. There are also sub-satellites, where you can win a seat in satellite, in which you can win a seat in a big tournament, in which you can perform well and win big money.

Pros and Cons with Satellites

The last sentence in the previous paragraph is long. The actual journey it takes to realize it is even longer. That is the biggest drawback with satellites. Of course you do not have to win the World Series of Poker in order to call it a success. Satellites provide a chance at success, a glimpse of the big time. To "just" make it into the big tournament can be a great experience. For $40 you have a shot at the World Champion title. However it is a very long shot. Chris Moneymaker did it. But remember that there are no discounts on these seats. For every success, there are many failures that contribute to the actual direct entry fee.

If you decide that you want to take a shot at it, first make an assessment of your chances. Lets say that you enter a sit'n'go sub-satellite for $100 where only the winner gets a ticket to a multi-table satellite where 3 out of 30 gets a seat in a big tournament. Then only 2 in a 100 make it to the tournament. When in the tournament you will have to be in the top 10 % to make some money. So from your perspective only if you perform better than the top 0.1 %-ile will you win any money. With such unfavorable conditions look at the entry in the sub-satellite as a venture not an investment.

Not every satellite system is as intimidating as the one described above though. If you are better than the others it can be a good value bet. A quick recap: satellites are tournaments that enable players to win their way into larger tournaments. Satellites have smaller buy-ins than the large tournament. Then, if you win your way through a satellite: you can look at it as though you have a lot less of your own money on the line, than if you enter a larger tournament directly. However, it means that you will have to outlast many more players to win.