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#1
03-15-05, 04:33 PM
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Backing...
I have a "friend." He's a poker player, and he's pretty good. He's not a pro, but he can hold his own in most any game. He's certainly better than the average amateurs he plays with, live and online. It's not often he finds an amateur who is clearly better than him. He does, of course, but not all that often. Could he regularly hang with the top pros of the game today? Not every day - they would eat him alive - but in his limited experience with them to date, he's fared fairly well.
So... on to the situation at hand. This friend of mine may have found someone to back him in the WSOP. Personally, I think this is a good move for the baker. Sure, it's not as good as backing one of the top pros in the game would be, but those guys don't need backing - either because they already have backers, or because they pay their own way in. My point is, I believe backing my friend is a +EV move. The details of the backing haven't been negotiated yet, and my friend wants to come up with a deal that's fair to both parties. Does anyone know what the "standard" arrangement is? I think I know, but I don't want to give bad advice. I'm under the impression that the backer pays 100% of the entry fees/expenses/etc, in exchange for 50% of the winnings. But I'm wondering if that's correct, or if it's really 50% of the profits? In other words, does the backer recoup all his expenses first and THEN they split what's left over, or does he eat the costs out of his half of the winnings? It probably varies from player to player, but what info do you guys have on the subject? |
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#2
03-15-05, 05:34 PM
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50% of the winnings.
If your horse finished with a $10k payout, then the staker is out $5k. On a side note, I have a much more generous offer... If you pay $10k I will put out the rake, and Will pay you back 80% of my winnings. Come on, Where are you going to find a better deal than that? I'd move this to the spam section but I don't think there will be many replies. 
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3rd Grade Reading Level! |
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#3
03-15-05, 07:17 PM
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I'll go 85%.
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#4
03-15-05, 09:07 PM
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So, you guys are saying the standard deal is 50%, but you'd be willing to give a lot more than that, right? So, for this "friend" of mine, being an amateur and all, maybe 50% of the profit (meaning the buy in is paid back first) would be fair......?
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#6
03-15-05, 09:19 PM
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Well, the deal needs to be worked out ahead of time, obviously...
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#8
03-15-05, 09:30 PM
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Does he have any gigantic field NL tournament experience? Or a proven tournament record? It's tough enough to get a backer for any game, nonetheless a $10,000 crapshoot. If I and people who have seen me play thought that I was +EV I'd be more than happy with around 20% of just the winnings, especially if the backer is paying airfare, hotel, and any other expenses. The more proof or experience this guy has, the more percentage I'd say he should expect or attempt to leverage.
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#9
03-17-05, 03:07 PM
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From what I know it usually is 50% - 75% + $10,000 (still a nice chunk of change if you win the whole thing). But if your knocked out before the money, your in a shit load of trouble.
You need to make at least the 10K to payback. Well at least that is how it works in my hood 
__________________
I DON'T LIKE OREO COOKIES! |
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#10
03-17-05, 03:16 PM
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Well, that doesn't make any sense. 90% of the time, you're going to get knocked out before the money.
If you have to pay the 10k back anyway, why would you bother getting a backer? Why not just put yourself in and keep all the profits? |
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#11
03-17-05, 07:16 PM
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There must be a lot of people getting their asses kicked in your hood
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