When do you play satellites?
Purely hypothetical question that I've been curious about lately and couldn't find any similar thread here:
When do you play satellite tournaments, either MTT or STT? I don't mean buying in for $1 and hoping to work your way up and get some great vacation to the PCA. I mean you are already planning on for sure playing whatever event it is you're trying to satellite into it, but you would rather pay a fraction of the entry.
For example, a $2100 SNG into the $10K WSOP
Main Event. You already have your plane tickets, and you're gonna play in the ME no matter what. So do you take one shot on qualifying for 20% of the BI, but if you don't make it, you're net investment in the tournie is now $12K. If you would try the satellite, how many times? What happens once you've invested $4K in satellites, etc.?
Also then, what about for smaller buy-in tournaments? I got curious about this topic when I read about some CC members playing a certain live tournament in NY (the October Fest one that they've been posting about in rail thread) but they said they would try $75 SNGs into the $550 BI event. How many times should you try the satellite before just accepting the full buy-in, if you even try the satellite at all?
Also, I know I said this wasn't my main question, but do you ever take a risk and try to satellite into the EPT or PCA just on a whim even if it's way out of your league?
Thanks in advance. Maybe someday I'll actually be considering in playing in these (relatively) big buy-in events.