10-05-2005, 04:35 PM
Has anyone here ever backed a player for SNG's? I have found that some very good money can be made doing this with relatively little risk.
After learning of my success at SNG's and the large amounts of money made, many of my friends wanted to give it a try - but didn't have the money to risk. So we came up with a proposal - I would spot them $300, and give them lessons and help at the $11's. They would start at the 11's and record all their results. If they lost the $300, it was on me, HOWEVER, of any poker profits for the next calender year, 20 % would go to me.
This of course seems like a great deal to them, $300 free dollars, and college students are not concered about having to pay me $6,000 if they make $30,000 in the next year. Anyway I did this with 3 of my friends about 5 months ago who i felt showed promise at poker. 1 went broke, 1 has done moderately well (profits to date ~$4000), and one is a very successful MTTer and at the $109's. I will likely have a very large payment at the end of the year from him.
Of course this would have to be done with people you can trust, but I'm always looking for new players to back, its a great way to make extra income. Anyone else done something similar?
After learning of my success at SNG's and the large amounts of money made, many of my friends wanted to give it a try - but didn't have the money to risk. So we came up with a proposal - I would spot them $300, and give them lessons and help at the $11's. They would start at the 11's and record all their results. If they lost the $300, it was on me, HOWEVER, of any poker profits for the next calender year, 20 % would go to me.
This of course seems like a great deal to them, $300 free dollars, and college students are not concered about having to pay me $6,000 if they make $30,000 in the next year. Anyway I did this with 3 of my friends about 5 months ago who i felt showed promise at poker. 1 went broke, 1 has done moderately well (profits to date ~$4000), and one is a very successful MTTer and at the $109's. I will likely have a very large payment at the end of the year from him.
Of course this would have to be done with people you can trust, but I'm always looking for new players to back, its a great way to make extra income. Anyone else done something similar?