Each year, we eagerly await the release of the WSOP 2023 schedule. Other rooms build their schedules around it and players build their plans around it. Like kids unwrapping presents, keen eyes look for what goodies the summer slate holds for us, eager to see what changes and tweaks were introduced this year.
One major change was the end of single-table satellites as we knew them. Our own Haley Hintze detailed the current state of that change, and potential reasons for it, in her article here.
Closely connected to that change, there have been adjustments made to satellites in general. If you're looking to get into some higher buy-in events at a satellite discount, this breakdown is for you. As much as Seasonal WSOP Twitter Czar Kevin Mathers loves answering your satellite questions, hopefully this guide can be of help.
What kinds of WSOP satellites are available?
Though single-table satellites are gone, we're given multi-table, or "mega satellites," every single day of the 2023 WSOP. Those are broken down into three types: (1) those that are paid out as direct entry into a designated event, (2) those that are paid out in casino chips, and (3) those that give you the option of the previous two choices. Let's break down each of those categories.
Mega satellites that award direct entry
Some satellites award direct entry into an event. The two most popular, for example, are mega satellites into the Mystery Millions and the Gladiators of Poker. The Mystery Millions satellites run from May 30 to June 2 and feature buy-ins of either $135 or $240, and they will award $1,000 direct entries into the Mystery Millions event. The Gladiators of Poker mega satellites run from June 6 to June 9 and feature a $50 buy-in, and they will award $300 direct entries into the Gladiators of Poker event. No lammers, no tax forms, simply direct entry into the specified event.
Additionally, any satellites for events of $25,000 or higher only award buy-ins to the event. There is no option to take a cash payout. However, you are not subject to tax reporting or withholding on those entries.
2023 WSOP mega satellites that pay out cash prizes
Satellites that award a seat value of $5,000 and under are paid out in casino chips (with the exception of the two events listed above). Additionally, two of the daily mega satellites, the $240 buy-in at 3 pm and the $135 buy-in at 10 pm are paid out in casino chips. All daily mega satellites will run from May 30 to July 14. However, because these cash prizes do not exceed $5,000 net of your buy-in, you still are not subject to tax reporting or withholding.
Cash prizes that exceed $5,000 net of your buy-in are subject to tax reporting. However, direct tournament entries, no matter their value, are not subject to tax reporting.
Mega satellites that award direct entry OR cash prizes
This is where things get a little confusing. For satellites with prize payouts of between $5,000 and $10,000, you can either receive a direct entry to an event or the cash value in casino chips, it's up to you. There is one important distinction between these two options, though.
Cash prizes that exceed $5,000 net of your buy-in are subject to tax reporting. However, direct tournament entries, no matter their value, are not subject to tax reporting.
So, if you play an $1,100 mega satellite and win one of the $10,000 prizes, you can apply that money to event entries. In that case, those winning would not be subject to tax withholding. However, you may accept the $10,000 as casino chips, as good as cash. But, since the winnings are more than $5,000 above your initial buy-in, you would be subject to tax reporting.
Single-table flips - a special satellite offering
There is one more type of satellite: the single-table flip. Ten people get dealt three cards and play a single hand of "Crazy Pineapple," which is Texas Hold 'Em with a twist. After the flop, everyone discards one of their three cards. The turn and river are then dealt. At the end of the madness, whoever holds the winning hand wins the entire prize pool.
Single table flips that award entries directly into the Main Event will be available starting on July 2 and will run based on demand until registration closes on July 8 at the end of the level 7 break.
Single-table flips for the Flip & Go presented by GGPoker will be available starting on July 13 and will run based on demand until registration for the Flip & Go closes on July 14.
What about taxes for foreign players?
The WSOP provided a quick note for players without a Tax Identification Number and foreign players from non-tax treaty countries. Both groups are subject to a 30 percent tax withholding.
More information
For other information, including the full 2023 event schedule, head to the WSOP website.
WSOP 2023 satellites FAQs
What is a WSOP satellite event?
A satellite tournament is another name for a qualifier. Winners of the WSOP satellite events can qualify for one of the bracelet events in Las Vegas, including the main event. Satellites run in the weeks before the main event gets underway in July and during the series.
Why enter WSOP satellites?
The main reason to enter WSOP satellites is to qualify for one of the events at a far cheaper price than the buy-in. Of course, they’re also a good opportunity for you to build your bankroll ahead of the biggest events on the WSOP calendar.
What are WSOP mega satellites?
Mega satellites will be hosted on every day of the 2023 WSOP and there are three main types – satellites that pay out direct entry into a specific event, satellites that pay out in casino chips, and satellites that give you the option of taking chips or entering an event.
Are there still single-table WSOP satellites?
No, 2023 will be the first year since the 1970s that single-table satellites will not be in operation. You can find out more about why single-table satellites are no longer a part of the WSOP here.
How much does it cost to buy in to WSOP satellites?
It depends. For instance, for the no-limit turbo mega satellite at 8 am from July 2-7, the buy-in is set at $145 for a $1,100 entry. But there’s also a regular Texas Hold’em satellite on the same dates starting at 7 pm, with a buy-in of $2,175, for a $10,000 tournament buy-in credit.
What is tournament buy-in credit?
WSOP tournament buy-in credit is a prize that you can use to fund your buy-in at a major event. You can win tournament buy-in credit at several WSOP satellite events.
Cover image credit: PokerGO
