Staking Someone

[theBruiser500]

I have a friend who has lost some money in poker lately online, but I think he can be profitable but he doesn't want to put more money into his online account. So I'm interested in staking him, but don't know how the specifics would work.

Like say I stake him $300, if he losses it, I'll take the whole lose, if he wins, how much do I get? How long does he keep playing on my $300 before he pays me back and is "unstaked"? Stuff like that I'm unsure on...

danny

[J.R.]

How long does he keep playing on my $300 before he pays me back and is "unstaked"? Stuff like that I'm unsure on...

As with any other investment you would want a rate of return that is consistent with the level of risk posed by the investement and your opportunity cost (i.e. what else you could have done with the money). But as this is a friend, pure free market economics doesn't always come into play. You should at least get your 300 back plus some compensation since you lose it all if he doesn't play well.

OT: might there be some way to have his results tied to his pocketbook so he is less likely to tilt away "your money"?

[Filip]

Lol!

This post made alot more sense when i saw it was staking and not staLking.......

And i am sorry but i cant offer any help in either subject.

[mosch]

When I've done this I've done it where I give, as an example, $500. They then play that $500 until it's either gone, or $1500. If it hits $1500, I get paid $1000, they still have $500, and they're no longer "staked".

For single-session stakes, I've always gone with a straight 'I eat the losses, we split the wins 50/50', and I reserve the right to request a cashout any time they're profitable.

I've only staked friends, so I don't know if this is considered generous or grinchy, but nobody's ever complained.

[Josh W]

I've staked a few (too many) people with mixed results. One thing I do when staking people that I've never heard of before is staggering the payout.

For example, let's say you are putting somebody in a 15-30 game. Normally, you get half of what they win, and eat the losses.

What I do is say I get the first $200 (or some such number) that they win, and a small percent (10 or 20%) of everything else they win.

This way, the way it plays out in my (often messed up) head is, over say 10 sessions, I'm more likely to be up, and they have the chance for a bigger win.

I'm not saying that others should do this...I'm pretty convinced that there is a flaw in my thinking or I woulda heard of it before. I think (after cursory thinking) that if the player has a low SD, that this helps the backer. If they have big swings, it helps the stakee.

Josh

[Andy B]

I was staked a couple of years ago and got half of what I won. The relationship ended when the guy pissed me off and I fired him.

I would be leary of staking someone who doesn't want to play their own money. I was staked in a game I couldn't afford, but I still played my own money in smaller games while waiting for a seat in the big game. If this guy lacks confidence, it is doubtful that he will be a good horse for you.

[Sqred]

This is just my two cents, but then again I am usually not trying to make money off of other people's play. I have staked and been staked. The staking arrangement I had was the best thing that ever happened to me. I played an older high limit player's money from 10/20 to 20/40. I was staked to a buy in and he ate the loss and took half the win. The catch was that he kept my half and gave me 80$ a day in salary and saved the rest to build my bankroll so I could be on my own with good capitilazation. This worked great and within a few months I had a nice BR saved up. To answer the obvious question, yes I was that irresponsible with money back then.

My main point is that I really think staking should be viewed as an almost completely altruistic endeavor. Sure, I hope to make something when I do it, but my motivation is helping someone who is having a difficult time financially for whatever reason.

I think any purely profit motivation is pretty flawed. In the standard eat it or get half of it arrangement the Stakerhorse is laying two to one. There is noone whose game I like enough to fade that for purely financial consideration.

If you like someone, respect his game, and want to help him out, that's great. I think too many of us don't realize helping someone is a good thing /images/graemlins/wink.gif.

In your situation, I'd throw the guy 300 and tell him to give me 600 back when he hit a thousand. If hes a good small limit or sit and go player that shouldn't be too tough. You get the best of both worlds, a 100% gain and some good samaritan points> /images/graemlins/spade.gif

FJM

[The Detroit Kid]

I was staked a few years back before I had a solid job (I was still young). I got $600 - and the staker told me to play 3/6 or 5/10 limit. I eventually wound up with a job and a supplemental income up to just about what I made working. I lost my job around XMas time, now it's impossible for me to get into a game. But, my arrangement was 60% to the backer and he ate all of my losses, so it was quite profitable to him, and yes you can get the good samaritan points in the process.

If I was back in the game with a large bankroll - i'd definitely stake someone I saw as a +EV play as long as the return weighed in about equal with the risk.

Unfortunately, I'm in the other boat - but best of luck to you in your endeavors.

[ScottyP431]

Andy, im assuming that is your picture in on your post? do u carry a box of toothpicks with you at the casino? if so i think ive played some 15-30 or 30-60 with you at the canterburry when home on break. first person ive ever recocknized

[Ray Zee]

for a real top player 50% split after playing say for two months.
for the run of the mill person like you have here. give him what you expect to lose as a loan. this way you got a shot of getting something back.
all stake horses that do it on a regular basis go broke. barr none. you cant give away very much to someone who plays your money that isnt a top player.
a very good player should get maybe 15% for an individual play that lasts all day. and maybe 25% for a few weeks.
if they dont win with their own why do you think they will win with yours. it never happens over the long run.