My WSOP satelitte theory

[ethan]

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Next point of theory. I don't know about the rest of you, but I'm a hell of a lot better at MTTs than I am at Sats. I'm also a hell of a lot more comfortable playing with a standard prize pool distribution than I am with a winner take all tourney.

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This is true for a lot of the people in the sats, and it's often true despite their not being particularly good in cash-prize MTTs. A "good" satellite player may well have a better EV in those tournaments than a "good" cash-MTT player would have in his specialty, simply because the average player is (I think) weaker in satellite play. Also, if the site running the satellite pays cash for every seat you win past the first this can become very profitable.

You do have a reasonable point in most of this - I'd personally much rather have $8K than a WSOP seat. But for some people the satellites offer excellent value.