For the uninitiated, a satellite tournament is one in which you compete to win entry to another tournament with a higher entry fee. The payout structure is completely flat, meaning you can qualify with just one chip when the bubble bursts or you may need every chip on the table (if only one player goes through). For the purposes of this piece I’m going to be concentrating on the multi-table satellites that offer multiple seats to target tournaments.
While there are many factors that differ in satellite strategy compared to regular MTTs, I believe that the endgame is the most important, and the area where the most mistakes are made. Knowing how to handle and play in different endgame situations can send your satellite fortunes into orbit or crashing back to Earth with a thud.
Defining the endgame
I play a lot of online satellites, and although there are different definitions of the endgame, I define it as the point at which no one is yet able to simply fold their way to a seat but that point is not too far off. For instance, in a 100-runner satellite offering 15 seats to a target tournament, the endgame could be said to start when there are around 30 players left. At that point you should open up all three remaining tables and keep a keen eye on the lobby at all times. Knowing where you stand in relation to the rest of the field (and elimination) can turn a standard call into a fold and a marginal decision into an obvious one.
Reaching the endgame in a satellite is no easier than in a standard tournament, and just as in a standard tournament you will reach the satellite endgame in many different states of repair. If you’re fortunate you’ll be one of the chip leaders, but more often than not you’ll find yourself in the pack, and sometimes, of course, you’ll be one of the short stacks.
Stack size at this stage is crucial – it should guide every move and inform every decision. If you are at risk of elimination (and you will rarely be beyond risk) the key to survival is winning pots without showdown. Going to showdown risks elimination, winning pots uncontested doesn’t.
Big stack
As a big stack you’re on easy street and your MO should be to maintain your position and play as risk-free a game as possible. You should not be looking to play big pots, and in a perfect world you would see zero flops in the endgame. Instead you’d simply maintain or slightly increase your stack by picking up the blinds and antes once a round or so. It’s actually fairly easy to do this, as play becomes quite nitty at this point and you’ll often get a walk in the big blind (where everyone passes and you walk off with the blinds and antes). You’ll also get the chance to raise or shove reasonably frequently in late position against players who simply can’t call without Aces or Kings.
In a standard tournament it’s usually bad to actively seek to play pots against stacks of similar size or larger. But in the endgame of satellites you should look to play pots in position against other big stacks, as they’ve got far less to gain at this juncture than in a standard top-heavy tournament and are likely to play super-tight.
Medium stack
As a medium stack you find yourself in a precarious position. One double-up and you’ll probably become a big stack and be able to coast to a seat. One misstep, however, and all the hard work will have been for nothing. That fear of busting is very real as well, because it’s quite possible to stay a mid stack for the entire endgame and still win a seat. For instance, say there are 30 people left and 15 seats up for grabs and you are in 12th and very much a medium stack. If you remain rooted in this position for the rest of the satellite you’ll be under pressure come the bubble, but you’ll still win a seat. Standard strategy in this spot is to look for other middle stacks to shove or raise into. It’s a lot harder for a similar-sized stack to call you than a short stack, as the mid stack has far more to lose.
Short stack
As a short stack your ideal approach is to chip up by shoving into medium stacks and stealing their blinds, as that’s an easier route than winning an all-in showdown. Position when choosing to shove is crucial. The fewer people you have to get through the better, as you’re hoping to win pots without showdown, unless you’ve got a genuine hand. It’s preferable to jam any two cards from the small blind into a mid-stacked big blind than attempt to get A-T through from early position.
If all of this sounds simple and straightforward it’s because it is, yet time and time again you see players make big mistakes in satellites. In my opinion that alone is reason enough to play them.