Is this ethical,possible,being done??

I know that people back others to play in tournaments. Now lets say that someone backs me to enter the WSOP main event. Lets also say I am a world class player. If i came to an arrangement where this person was to pay my 10000 dollar entry, and we split the winnings 50/50.(is this a common deal??) Now, would it be unethical to then go and get another backer, same exact deal. They pay 10000 and get half the profits. This way, the player is guaranteed 10000, and if he wins money, none of it is his. Is this possible? Does it already happen??

THanks

let me ask you this: is this ethical?


Would it be ethical to take a baseball bat and ramm it up some guys ass while planning to take that bat and ramm the other end into some other guys ass? That's basically what' you're trying to do by making them both pay you 10,000. When it comes to scams, that's a pretty pathetic one. Back to the drawing board for FUNES!

You would have to be expected to win at least 20,000 or twice the buy-in to attract these backers. That may be pretty tough for the best of players. I usually figure tourney's are about worth my buy-in or a little more, not twice the buy-in. If you were really worth this much, then you have found a way to gurantee you win half this much every tournament except those times when you place in the money. You would actually be much better off to back yourself if you could afford it. Your proposition trades off gain for risk.


Assuming you could get these backers, is it ethical? Hmmm, I guess I never quite understood the meaning of that word. I understand the word "illegal". If something was really unethical it should be illegal /images/smile.gif I think in order for your proposition to be legal you would have to be careful how you stated it. If you tell them each they get half the winnings after buy-in, then you would really owe them your 10K too since your buy-in was taken care of already. If you just promise them half the payout, then it seems you are meeting your obligation to them, and it would be legal, but I'm not a lawyer.

Sorry I made a mistake. You would only need a net win equal to your buy-in for your backers to break even, not twice this. That is reasonable.

Hey, LOL, I wasnt stating that I would do this, Im not good enough, so slow down with the insults. If Hellmuth were to do such a thing, and a lot of others for that matter, he would make every one of his backers money. If you can expect to double your buyin each tournament, on average, then you are giving both the investors an even money proposition. Now a world class player, in the WSOP has an expected value of 4 to 5 times his buy in, as taken from sklansky. So you are making your investors money. Your not so bright yourself if you cant see this.

Funes