I sometimes play satellites & not always just for satelliting into a particular MTT (ie. I'll play the $14+1 to $55 Fifty-Fifty on Fulltilt, or the $6 >> $22 DoubleDeuce).
If I'm thinking of playing the DoubleDeuce I'll take one shot at a satellite for it.. if I cash I'll play it (I'm 3 for 3 lately).
I prefer playing sattys where ~ 1 in 4 get paid but do know some others who like to play the rebuy sattys where ~ 1 in 10 or even 1 in 20 get paid.
In typical sattys I play in, it's important to play tight and once it reaches around level 3, I'm usually not raising w a hand that I'm not willing to go all the way with. ALSO, if I'm able to build up a bit of a stack in early levels (or double thru someone) I don't keep trying to steal blinds & play lots of pots (You'll see a TON of players making this mistake... ). It's important to hang onto your chips, as you'll need a stack when it comes to shove/fold mode. Don't let yourself blind out!! Always keep an eye on the other tables as you're approaching the bubble & pay attention to when the blinds are going up next (ie. if there are alot of shorties and the blinds have just passed u.. then sometimes it's beneficial to time down so that the next blind increase will hit your SS opponents, forcing them to make a play at the blinds or to just get it in to keep from blinding out).
Big mistake I often see is players getting a stack & then spewing it off. It's unecessary to get the monster stack in these (& you'll often see these players getting involved in marginal spots, having others double thru them & then being in jeopardy themselves on the bubble (if they'd just folded.. they'd have been fine... some seem to just not be able to find the fold button). << these are some of the ones you'll be profitting off of... due to their mistakes in satellite play.
... sattys can be quite profitable in themselves. I've actually been considering making a go at playing a bunch of them this week (focusing on the $14+1 > $55's... super satty's to the $750K & sattys to the $25kguar. & Fifty-Fifty).
... the sattys for the MSOP mtts are FULL of bad players (although there's a few regs. mixed in there too). This can be good.. BUT.. some of them will call down shoves wayyyy tooooo light, not really understanding icm & how it isn't a benefit to make hero calls, especially if it negatively effects their stack to where they won't have fold equity)
Brad Booth - > "Like a fight... it's not how you start, it's how you finish"