Using Satellite Tournaments to Your Advantage
April 29, 2009
Satellite tournaments are probably a big reason why poker is enjoying so much popularity today. Without satellite tournaments, only a few seasoned poker pros and multimillionaires would be able to fork over the $10,000 buy-in to the WSOP Main Event. But thanks to the WSOP satellite tournaments that were created by Jack Binion, an average player with an ordinary day job can sit down against some of the best poker players in the world and take a shot at winning millions of dollars.
It’s not just the WSOP. There are usually satellites for every major poker tournament. As a result, more players join and pots at major tournaments are pumped up. The lure of the satellite tournaments is very easy to see. I mean, if Chris Moneymaker turned his $39 and turned it into $2,500,000 by winning the WSOP Main Event, I can do it too!
It is important to remember, however, that there are some disadvantages to playing in satellites. You have to take into consideration that in order to win, you will most probably have to play your best in several multiple tournaments—a very tough order. You will also have to face off against mediocre poker players in satellites with low buy-ins. This means that you have to prepare yourself for some of the sickest beats you’ll experience in your poker lifetime.
The most important thing to remember when playing satellites is that you need to set a limit on how much you would be willing to spend. Your dreams of playing at the WSOP may cloud your judgement and you may find yourself dipping into your pocket too many times when it might have been cheaper to just buy into the tournament directly. You might think that a $100 event is peanuts but if you buy in 20 times to the same tournament, this means you have spent $2,000 of your bankroll. You should never spend over 40% of the original buy-in on satellites.
Despite the cautionary tales, satellites are still the cheapest way to earn a seat in some of the biggest and most expensive poker tournaments. If you have extra money in your bankroll, you should take a chance. You can very well win big for such a small investment.
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