How to work a "backing" in one of the Big Sunday tourneys?

[Sifmole]

So there are a group of guys (5) at my office who are interested in throwing together a complete buy-in to one of the tourneys like the $200+15 on Pokerstars. These guys are well-heeled and the ~$50 is like joining an office lottery pool -- a "wouldn't it be cool if our horse won?" kind of thing.

So, if I was to do this what should my take of a win be? Make sure to take into account that I will have zero monetary risk, and this is not a long-term backing thing -- just a one-off. And I am a high-risk investment.

[dmk]

Since they don't really know anything about typical backing arrangements, suggest that your winnings would be divided as follows:

If you win more than $215, you return the $215 to them, and the remainder is then split 50/50 between yourself and the pool.

Typically, though, you'd probably get between 10-20%.

[mts]

hmm... you COULD take advantage of your friends/coworkers or you could do the fair thing and split everything up evenly after reimbursing them for the buyin

[SossMan]

[ QUOTE ]
hmm... you COULD take advantage of your friends/coworkers or you could do the fair thing and split everything up evenly after reimbursing them for the buyin

[/ QUOTE ]

that's the fair thing? What about if I gave you $215 to go play in the tournament. You win a prize in the amount of $2215. You give me back my $215 and you get to keep $1000?

How would this change if $215 2+2ers all put in $1. You still get to keep $1000, or do you get 1/216th of the remaining $2000?

10-20% for a single tournament with 0% risk is a great deal. It would be like your coworkers giving you $25-50% free.

[tiger7210]

I agree that you should get 20% with no monetary risk but it is your time that is involved.

Your co-workers get back the $215 1st then they split the remaining 80% of profits according to the % invested. If evenly invested then an even split.

[mts]

ok $215 entry fee and you win $2215.
so split $2000 6 ways is $333 for everyone while they risk $43 each to get the $215 entry fee.

i suggesting splitting it evenly because 1/6 is between 10-20%. Of course it doesnt work out if you pick random made up figures.

[SossMan]

[ QUOTE ]
ok $215 entry fee and you win $2215.
so split $2000 6 ways is $333 for everyone while they risk $43 each to get the $215 entry fee.

i suggesting splitting it evenly because 1/6 is between 10-20%. Of course it doesnt work out if you pick random made up figures.

[/ QUOTE ]

got it...1/6th happens to be a number that worked out well. my bad.

[Sifmole]

I appreciate the responses guys..

I have no intent to "take advantage" and specifically posted this as an attempt to make sure I had others ideas so I could be better sure I did not "take advantage" of my coworkers.

[CardSharpCook]

[ QUOTE ]
I appreciate the responses guys..

I have no intent to "take advantage" and specifically posted this as an attempt to make sure I had others ideas so I could be better sure I did not "take advantage" of my coworkers.

[/ QUOTE ]

Cool, then I agree with the equal partners, everyone gets 1/6th while you put up no money.

[TaintedRogue]

If I didn't want to pony up the $215 every week myself, but wanted the experience and could get it for free, I'd offer to give back 250% of their $200.00 investment first, before I start to take a cut. That way they see a profit when I barely make it past the bubble.
Now when the amount of money I win is >$500 (I pay the $15 rake), I take the next $90.00, we have all made $75.00 and then we split anything over $590 evenly.
If these are guys who have so much $$, "it's fun to see my horse race"......well....they'll lose interest fast without a quick return.
This way, you don't have to go as deep into the money, for them to have $50 in "won $$" to buy-in again, while pocketing $25.00 and I'm playing poker for $15.00 a pop when I lose.

[KenProspero]

I agree, here.

Though I don't know what's 'standard', if it was my friends, and I was agreeing to be the 'horse' they're betting on, I'd think one 'share' in the consortium sounds right.