"Backing" questions

[Talking Poker]

For this particular situation, here is what I'd do:

Sell 50% of your action and split everything right down the middle. This is how you would do it if the deal was with a friend, and I don't see why this should be any different. Sure, you're the only playing, but he's the one enabling you to play by buying half of your action. He needs to see this is a sound investment, and by not splitting the profits evenly, he may not.

So, have him give you $2k. Sit in the game with $4k. When you are done, whether you have $12k, $4k, $2k, or have gone busto, split whatever is in front of you right down the middle.

Do this two or three times, and if you are winning big and feeling comfortable with the game and the stakes, consider going out on your own. Just be clear to him up front that that is your plan.... Tell him you'll sell him 50% of your action, but will likely go out on your own after you win $x... I can't think that he wouldn't be fine with this - and you should be too.