[LearnedfromTV]

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One last point: For someone with $30000, deciding to play one or two $400 WSOP satellites that pays 1 in 30 may be bad bankroll management, but it's way better than buying in straight. Better to take a $800 shot at the experience (with a virtual freeroll the times you get there), then a 10K shot buying in straight. But maybe you think, "screw it I want to play the Main Event, to hell with bankroll", in which case playing satellites at your bankroll level to get there is best if you are have greater EV in them than in any other game.

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The concept of a freeroll doesn't make sense to me... If you really want to take shots, so be it. But still, I don't understand why someone wouldn't play where their $/hour are the highest. If you want to attempt to take $300 and turn it into a WSOP seat, why not play STTs if that's where you're best? If you're truly good at the satellite structure/payouts, THEN play the satellite. Don't play it just because it has a "Satellite to the WSOP" label on it...

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The person I'm talking about here is trying to make an economically rational decision; he's saying: To play in the main event would be a great experience. I'm willing to devote $800 and x hours of lost opportunity cost to take a shot at winning the experience, because it has non-monetary value to me.

(But maybe he isn't willing to spend $300 and the many many hours of STT play he would need to take. Because time and money are in a certain sense equivalent, 'taking a shot' in this way is a lot cheaper to him. It's like being willing to try to win $300 by betting 300-1 on a $1 horse, but not being willing to bet $150 on a 2-1, because you'd rather use the $149 for something else. This isn't economcially rational, but the thrill of hitting a 300-1 shot might be worth it to someone. Similarly, the thrill of the WSOP might be worth it to someone, provided it doesn't take too much of his time. He'd rather use the hours of STT play for something else (cash for his regular bankroll).