A satellite is a tournament where the prize is a free entrance to another (larger) tournament. This gives you the opportunity of winning a seat in tournaments with elevated buy-ins without having to pay the full fee yourself. This is an affordable way to participate in professional tournaments; in such cases you are looking at a potentially massive return on your investment.

Direct satellites - By winning a direct satellite you gain a direct seat to the advertised event. Most often  than not, 'live event' satellites also come with a hospitality package which may sometimes include flights and accommodation.

Step satellites - This type of satellite allows you to progress through various stages (usually three) of satellite after starting with a very low buy-in. Each successive stage win will grant you a seat to the next stage which would have required a higher buy-in. Winning all the stages will give you your chance to play amongst the professionals at a fraction of the cost.