Profiting from Satellites
Posted on July 3, 2009
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Playing satellites is a great way to earn a seat cheaply into a bigger buy in tournament, and it is also a great way to make a profit in itself. The World Series of Poker offers a range of single table satellites which pay a single winner. These satellites range from $60-$1,000, and they pay out according to a 10 person table. For a person who plans on playing multiple satellites, it can be a quick way to make a profit on the investment.
Generally, single table satellites attract a fairly weak field of players. These players are trying to take a shot at a cheap way to win a seat into a tournament. Especially at the WSOP, a large portion of the players are tourists who would not buy into the event without winning a seat. They usually don’t have much experience with multi table or single table tournaments. Thus, you can expect that their level of play is not that sophisticated. Count on obvious over bets preflop with large pocket pairs and AK, AQ, AJ. Usually players are pretty transparent post flop as well. They will over bet their top pairs, and definitely get it all in with two pair or better. Some of this corresponds to weak players, but a large part of it is the structure that is being played.
With the $175 satellites and smaller, the rounds are only 15 minutes long. This means that players have to catch a decent hand and ride it. In the $65 satellites, players only get 800 in chips and 15 minute levels. Even when the blinds start at 25/25, losing a small pot means you are already a short stack. The $175 satellites are not much better, as they only offer 1,000 in starting chips and 15 minute levels. A lot of players realize that if they have A J or A 10, and flop top pair they should stick their chips in because they might not have time to wait for a better hand. For this reason, it is important to limp into as many unraised pots as possible because hitting a set, straight, flush, or event two pair can be a monster in attaining someone else’s chips. Most of the players playing these level satellites are playing ABC poker. If they have a big hand preflop, they let you know with the size of their raise. If they have a weak hand, they will fold to any bet.
In order to get better value, the $275 satellites and bigger are the way to go. They offer, at least, 1,500 chips and 20 minute levels. If you play a pot and lose, you won’t necessarily be so short that you only have an all in move. They also give you more time to see how players play before the blinds get so high that you can’t use the information to your advantage. These satellites also have greater chopping incentive.
Satellites have great chopping incentive, and the bigger the satellite the better incentive there is. The $65 satellites at the WSOP offer almost zero chopping incentive. Players are paid $50 in cash and $500 in chips. Since there is only one chip to be won, that will usually go to the winner. The $125 satellites offer 1,000 in tournament chips and $120 in cash, so this can be easily split up when it gets to heads up. The $175 offers 1,500 in tournament chips and $120 in cash. This could theoretically be equally chopped three ways. The bigger the payout the larger the incentive is to chop multiway. The $1,000 satellite is often chopped heads up for $5,000 a piece because the amount makes a difference to most people. With the better values, I often negotiate that third place always gets their money back. At least that way you have a least a 30% chance of making your money back to play another satellite.
Chopping is always situational, and many factors which are not discussed in this article should be taken into consideration. The general rule of thumb would be to chop unless you have your opponent at a significant lead in chips. If you are not a strong heads up player, or you feel that your opponent is hitting cards, a chop might be the right move.
I have a friend that was playing the $1,000 satellite at the WSOP. This satellite has amazing value in that it gives you 5,000 in chips and 20 minute levels, and it pays 10,000 in tournament chips, and $150 in cash. My friend got down to four handed when the rest of the table asked him to chop. He said no because he thought he had an edge over the table. He got to heads up, and his opponent asked him to chop. Again, he said no because he had his opponent 2:1. It didn’t take long, and the short stack doubled up. In a series of unfortunate hands, my friend found himself as the slightly shorter stack. My friend then flopped two pair, and went all in. He was called by his opponent’s straight flush draw, and his opponent won. My friend was upset and wishing he would have chopped heads up for an extra $4,000.
Sometimes it isn’t the most profitable choice to chop, but in most cases it can be the best decision. The money won from these satellites can be used to add to your bankroll, or to play more satellites. After winning a few satellites, you might find that you have an edge to refuse chopping heads up and play for the win.
Now that you’ve won and/or chopped several satellites, you will have a pocket full of tournament chips that have no cash value. If you are not planning on playing any tournaments, you will have to sell them to other players that do plan on using them. There are some players that sell these chips at a discount. For example, they will sell a $500 chip for $400. Why would you sell a chip for $100 discount when you can get full face value for them. The poker community is actually a pretty tight nit group who are willing to help each other out when it doesn’t mean losing money over it. Most players will buy these chips at face value, and if you can’t find anyone to buy them go to the tournament line at the start of registration. There are plenty of players that plan on buying into the event straight up, so they will be willing to just buy them from you. If that doesn’t work, then you can try to sell them at a discount. However, if everyone sells them at a discount they won’t be worth very much for players that are trying to make a living from satellites.
Greg Mueller Becomes Fourth 2009 WSOP Double Bracelet Winner
Posted on July 2, 2009
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Greg Mueller has become the fourth player to win two bracelets at the 2009 WSOP, a feat made even more impressive by the fact that prior to this years World Series Mueller had 13 career WSOP cashes but no bracelets. His first bracelet this year came in the $10,000 world championship limit hold’em event, where he topped a field of 185 and pocketed $460,836.
His second victory came on Monday in the $1,500 limit hold’em shootout, where he outlasted a much larger field (572 players) in a shootout format. Mueller ended up facing Marc Naalden heads-up for the championship, where after building a 5-1 chip lead he eliminated Naalden and earned $194,854 in the process.
Here are the final table results:
1. Greg Mueller — $194,854
2. Marc Naalden — $120,614
3. Mille Phung Shiu — $77,138
4. David Williams — $51,145
5. Matthew Sterling — $35,058
6. Flaminio Malaguti — $24,824
7. Joep van den Bijgaart — $18,136
8. Jose Barbero — $13,655
David Bach Wins WSOP H.O.R.S.E World Championship
Posted on July 1, 2009
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The WSOP H.O.R.S.E World Championship event is widely considered to be the most difficult tournament at the WSOP, as the large $50,000 buy-in and mixed-game format usually results in only the best players in the world entering. This year, 95 players put up the cash for a chance at the $1,276,820 first-place prize money and the opportunity to call themselves the best all-around poker player in the world, and in the end it would be David Bach in the winners circle.
Bach had to endure an 18 hour and 44 minute final table that also included a seven-hour heads-up match against John Hanson, making it the second longest WSOP final table in history. “I never wanted to touch one until I earned it,” said Bach.
Here’s are the final standings from the event:
1. David Bach – $1,276,802
2. John Hanson – $789,199
3. Erik Sagstrom – $522,394
4. Vitaly Lunkin – $368,813
5. Huck Seed – $276,610
6. Ville Wahlbeck – $219,655
7. Chau Giang – $184,087
8. Erik Seidel – $162,382
Historic WSOP Poker Table for Sale
Posted on June 30, 2009
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You can have this famous poker table in your game room today. Seen here during the final table of the 2005 WSOP Main Event
Want to own a piece of poker history? How about the main event TV table used when Greg Raymer won in 2004, Joe Hachem in 2005, and Jamie Gold in 2006? That's right, the very table where many of poker's elite traded chips in their quest to become a part of poker history.
Check out the auction on eBay for this historic poker table. According to the auction details you'll receive a table cover signed by Jamie Gold when he took down the record $12 million purse in 2006 for a WSOP Main Event.
photo by flipchip • lasvegasvegas.com
The table where Joe Hachem won the 2005 WSOP Main Event
Carsten Joh wins $664,426 for $1,500 Investment at 2009 WSOP
Posted on June 30, 2009
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Carsten Joh winner Event #51 $1,500 No Limit Hold'Em
Carsten Joh topped a field of 2781 poker players to capture his first WSOP bracelet and $664,426 in cash. The German native played a conservative game during most of the Monday's final table as he slowly accumulated enough chips to remain in the contest. His game plan worked well as he avoided the traps while those around him fell victim to their aggressive play. Heads-up found Joh facing a tough Andrew Chen holding almost the same number of chips; but, this was to be Joh's day of fame. He caught the cards needed in critical hands to finally defeat Chen.
Andrew Chen was obviously disappointed to come so far and get so close to the WSOP gold, then be denied the win in the final hands. Of course, the $412,632 payday will help to keep his spirits up for another day at the WSOP poker tables. Third place and $272,405 goes to David Walasinski.
The event begin with a sell-out crowd of 2,781 players building a prize pool of $3,796,065 distributed to the last 297 players to be eliminated.
The 2009 World Series of Poker Main Event is scheduled to kick off on Noon Friday with the first of four Day 1's. Many are predicting a record crowd for this year's championship event. Will you be one of them?
photo by flipchip • lasvegasvegas.com
Andrew Chen finished second
photo by flipchip • lasvegasvegas.com
Is this pile of loot waiting for you at to the 2009 WSOP at the Rio Las Vegas?
WPT Announces Season VIII Stop and Dates
Posted on June 30, 2009
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Time to reread your favorite poker books and polish your chip protectors as the World Poker Tour has revealed the twelve stops for their eighth season. Vegas residents should note that a record four events will be held at the Bellagio this year, so plan your season accordingly.
Bellagio Cup V
July 13-19, 2009 Bellagio, Las Vegas, NV
Buy-in: $15,400
Legends of Poker
August 22-26, 2009, Bicycle Casino, Los Angeles, CA
Buy-in: $10,000
Borgata Poker Open
September 19-24, 2009, Borgata Hotel, Atlantic City, NJ
Buy-in: To be determined
Festa al Lago
October 20-26, 2009, Bellagio, Las Vegas, NV
Buy-in: $15,400
Foxwoods World Poker Finals
November 5-10, 2009, Foxwoods Resort Casino, Mashantucket, CT
Buy-in: $10,000
Doyle Brunson Five Diamond World Poker Classic
December 13-19, 2009, Bellagio, Las Vegas, NV
Buy-in: $15,400
Southern Poker Championship
January 24-27, 2010: Beau Rivage, Biloxi, MS
Buy-in: $10,000
L.A. Poker Classic
February 20-25, 2010, Commerce Casino, Los Angeles, CA
Buy-in: $10,000
WPT Celebrity Invitational (at L.A. Poker Classic)
February 27 - March 1, 2010: Commerce Casino, Los Angeles, CA
Invitation-Only Event
Bay 101 Shooting Star
March 8-12, 2010, Bay 101, San Jose, CA
Buy-in: $10,000
Hollywood Poker Open
March 20-24, 2010: Hollywood Casino, Lawrenceburg, IN
Buy-in: $10,000
WPT Championship
April 17-24, 2010 Bellagio, Las Vegas, NV
Buy-in: $25,500
Greg Mueller Wins Second 2009 WSOP Bracelet
Posted on June 29, 2009
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Greg Mueller winner Event #50 $1,500 Limit Hold'Em Shootout
Greg Mueller became the fourth player in this year's WSOP to win two events and take down two gold bracelets. Heads up he faced another 2009 player going for double gold, Marc Naalden. In the end it was the more experienced Muelller that finally held all the chips and scored the repeat. Greg Mueller also received $194,854 in cash to add to his earlier win in 2009 WSOP Event #33.
Marc Naalden received takes home $120,614 as runner-up. Millie Shiu hit the gate in third to collect $77,138 in cash.The event attracted a field of 572 runners including many of poker's biggest names. The top 64 finishers walked away with cash.
photo by flipchip • lasvegasvegas.com
Marc Naalden fell one place short
photo by flipchip • lasvegasvegas.com
Millie Shiu becomes one of the few women to make a WSOP final table
photo by flipchip • lasvegasvegas.com
Greg Mueller and friends celebrate his double at the 2009 WSOP
Tilt Hangover
Posted on June 29, 2009
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Some people say that they go on tilt after playing bad. They say that just knowing that they made a mistake is enough to send them over the edge. I’m from a totally different way of thinking. I know I’m not a perfect poker player, and that mistakes are inevitable. I accept that, and do my best not to make mistakes. However, when mistakes happen I am grateful that I’m able to pick up on them and learn to (hopefully) never make the mistake again. The thing that really irritates me is when I’ve made the right moves, the right read, have the player right where I want him, and inevitably they catch up and take my chips. Since I like to think that poker is a game of skill, it truly puts me on tilt when I play well and still lose. At least when I play bad and lose, I’ve invested money into my poker education.
The other day I went to play one of the DeepStack Tournaments at the Venetian in Las Vegas. I went into it thinking if I busted out it was no big deal and I would just go play cash game. Since the cash games were so juicy looking I knew I could easily get my buy in back if I busted and still make a profit for the day. I had nothing to lose…or so I thought.
The tournament started off kind of slow. I won a few small pots and lost a few small pots. I was able to limp into a five way pot when blinds were 75/150. I had 5h 3h, and the flop came out 5d 2d 3c. It was checked to me and I led out for 600. The big blind called and everyone else folded. The turn brought a 9d. He checked to me, and I bet 1100 . He looked down at his cards and made the call. I was pretty sure at this point that he probably had a flush. The river came a fourth diamond. He shot me a look and then checked. It seemed as though he didn’t like that fourth diamond hitting the river, and with no diamond in my hand I knew the only way I could win was to bet. If he hit the flush on the turn, he probably had low diamonds in his hand. It was highly likely that I could get him off his hand with a decent size bet. I assumed that a bet of 1850 would be enough to get him off his hand. After some pondering he decided to call and turned over 2c 7d. “Wow,” is all I could say as I sent my cards to the muck.
I wasn’t sure how I felt about the hand. One, I made a good read on my opponent knowing that he was weak, but I couldn’t figure out how he could make the call there. It was the first time I have been so frazzled in a tournament that I literally had to walk away for a few hands to cool off. After clearing my head, I returned ready to play again.
The next few rounds were up and down. I lost a few races with the short stacks on my table, but was able to chip up to above average. Then I got moved to another table with Tommy Vu who had the chip lead on the table. Seat two was a guy in his late twenties or so, who was boasting to the table about his recent cash in a WSOP event. This guy quite obviously had an ego, and this irritated me right away.
The blinds were 400/800, and I looked down at pocket kings in the highjack. Seat two raised to 2200 in early position. I made it 6300 to go, and he called. It was heads up, and the flop came 9 6 8 rainbow. He grabbed a stack of chips and bet, and I immediately moved all in for 15k. I was sure that I was ahead at the time, and wasn’t worried about a set or a straight. He called and turned over Ad 7d. Instead of him hitting an ace or his open ender, he went runner runner diamonds to knock me out. This was a real blow to me because I had been playing well all day with minimal mistakes, and had I won the hand I would have had the chip lead at the table, and in contention for the chip lead of the tournament.
So my fun in the tournament was over, and I should have been putting my name on the list to play cash game and make some money for the day. Instead, I walked over a slot machine, pulled out a hundred dollar bill, and proceeded to take my frustrations out on the max bet button. Before I knew it, that hundred was gone and I was off to the next machine. I realize now, that there was no amount of money short of hitting $100,000 or more that could have satisfied me. It took five machines and five hundred dollars to convince myself that my day of fun and excitement was over. I went home with the worst tilt hangover I’ve ever experienced.
Brandon Cantu Takes WSOP Pot Limit Omaha Hi/Lo 8-or-Better
Posted on June 28, 2009
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Brandon Cantu winner Event #48 $1,500 Pot Limit Omaha Hi/Lo 8-or-Better
Brandon Cantu takes a gold bracelet for his playing abilities in Pot Limit Omaha Hi/Lo 8-or-Better plus a nice chunk of change, $228,867.On Day 1 Brandon was just 1 in 762 hopefuls taking the felt at the 2009 World Series of Poker;r and, this was no pushover crowd. Many of the poker biggest pros and Omaha specialists were in the mix.
When the final two players met heads-up across the final table it was Brandon Cantu facing seasoned professional Lee Watkinson for the gold. In the initial going it appeared that Cantu was on the short list to leave the building, actually falling behind to the tune of 6 - 1. He then staged one of the classic WSOP comebacks and took down his first bracelet of 2009 giving him a total of two.
Lee Watkinson just missed taking the match and probably will spend some private time contemplating how very close he came before the cards turned against him. While he's sulking he can enjoy the benefits of the $141,873 collected for second. Jocqmin Mathieu completed the top three for $92,946 in cash.
The event pulled in 762 Omana fanatics and built another WSOP million dollar prize pool, $1,040,130 to be exact, paid out to the last 72 lucky players.
Bahador Ahmadi Wins 2009 WSOP Mixed Hold’Em Event
Posted on June 27, 2009
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Bahador Ahmadi Winner 2009 WSOP Event #47 $2,500 Mixed Hold'Em
Bahador Ahmadi claimed the 47th gold bracelet awarded at the 2009 World Series of Poker at the Rio Resort in Las Vegas. Playing the same game that got him to the final table proved to be good enough for the win. Ahmadi took advantage of the ultra-aggresive play style of his heads-up opponent, John Guiness, to call when he was in the lead and lay down when he wasn't. The careful play resulted in Ahmadi taking most of McGuiness' chips during the Limit session and then easily calling the all-in bet of McGuiness on the first hand of No-Limit for the win.
Bahador Ahmadi now has an additional $278,104 to add to his play bank and a WSOP bracelet to impress friends and family. John McGuiness left the building with $172,227 in cash for his piece of work. Third place and $112,967 in cash was claimed by Ylon Schwartz after his luck ran out and he hit the rail.
photo by flipchip • lasvegasvegas.com
Ylon Schwartz collected the $112,967 show money
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