Satellites for fun and profit

[AtticusFinch]

For those of you who often make the final table but can't seem to get into the serious money, you might consider playing satellites. Most sites will let you keep playing them after you win your chip -- if you place you get the entry fee in cash. These usually amount to 10 buyins, which is not a bad score for a small satellite.

Advantages:

1) These tend to be VERY soft
2) They're a lot shorter, cause once you get down to the final X, it's pretty much over. You skip the prolonged final table battle.
3) The top 7-8 people often get the equivalent of 3rd place money, which is great for someone who habitually finishes 5th-6th
4) If you build up a big stack, you can go into autopilot and "fold in," allowing you to multitable easier, etc.
5) You get to play the big money tourneys, which may turn your small satellite investment into an enormous score.

Disadvantages:

If you never practice final table play, you'll never get past the issue. But, as Adanthar points out (and others such as Howard Lederer have said), you can practice final table play by playing SNGs. Plus, you still have to play the big tourney with the first entry you win, so who knows?

Anyway, I'm thinking of giving this a try just to see how it goes. Is anyone else doing this? I'd love to hear a report if you are.

EDIT: By the way, tt's pretty clear from the context, but I'm talking specifically about multi-table satellites here.

[ZBTHorton]

Yep.

[LethalRose]

I thought at most sites you get entered into that tournament and cannot unregister to get the cash. have they recently changed it? by they i mean party/empire

[Jurollo]

That is true for the first entry. Subsequent ones you get cash equivalent, I think that is what he meant.
~Justin

[LethalRose]

ah ok

[slickpoppa]

At stars I believe you get W$ if you qualify twice. This is as good as cash if you use those W$ dollars for other satellites that you would normally pay cash for. Like if you qualify for the WSOP twice, you could use the extra W$ to qualify or buy-in to a later WPT event.

[Jurollo]

Well you don't even need to use the first entry @ stars, you can unregister for T$ or W$ depending on the event, I think we all should know that by now. Party and skins just make you use the first entry and give cash equivalents for subsequent ones.
~Justin

[HoldingFolding]

Interesting, this fits my present profile exactly. However, I'll usually use the entry up before getting a new one. Are you saying if I get a 2nd enry I can convert it into real cash? How does it work? (Party Poker)

[LethalRose]

so lets say on empire I qualify twice for the 200K guaranteed, id get the buyin price back the second time i qualify

[LethalRose]

[ QUOTE ]
Interesting, this fits my present profile exactly. However, I'll usually use the entry up before getting a new one. Are you saying if I get a 2nd enry I can convert it into real cash? How does it work? (Party Poker)

[/ QUOTE ]

you can only play a tournament once, so if you win more than one entry to the same tournament party poker just gives you the buyin back into your br.

right?