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#1
03-17-2005, 05:27 AM
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Staking a friend
I'm not exactly sure if this is called staking or buying a piece of someone but my friend is going to do a $400 tourney and asked me to put up at least $100 for him. I readily agreed because I am confident in his skills and feel that he will do pretty well. My question is: What percentage of his winnings (assuming that he makes the money) should I ask for? I remember a friend putting up $100 for me in a $320 tourney and since he was a nice guy and didn't really care for the c-note, he only asked for double his money if I made the money. What do you guys think? Thanks for your help.
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#2
03-17-2005, 05:32 AM
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Re: Staking a friend
No idea what is standard here - but i'm asking for 25%.
Even though your friend is a skilled player, the risk for your $100 is pretty high (especially in a medium/large tournament), so the reward should also be high. I guess you could alter your payout if you are very confident he will get in the money (e.g. small tournament, soft competition, flat payout structure).
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#3
03-17-2005, 05:33 AM
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Re: Staking a friend
If it was me, I'd ask for 25% of his winnings. You own 25% of his buyin and if he doesn't make the money you've flushed $100 down the toilet. However you don't have any of the "stress" of actually playing in this tourney so that needs to be taken into consideration as well.
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#4
03-17-2005, 05:38 AM
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Re: Staking a friend
I'm actually doing this with my own friends for the WSOP. None of them will play, so I am offering them the thrill of being part of it, by letting them buy a piece of me. Hell, it helps me too, making it that much more affordable to play. I plan to take no player's cut - if you own 5% of me, you get 5% of the winnings. period. I think it should be this way amoung friends. However, all friendships are different, and I think you should base your answer on your friendship, not on what a bunch of poker geeks say.
CSC
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#5
03-17-2005, 05:39 AM
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Re: Staking a friend
If I were accepting a 25% stake, I would expect to payout 15-20% OR 25% up to a cap.
I have some friends interested in staking me in some upcoming $500+ buy-ins for $100 each. My deal with them is 10% capped at $10,000 (wishful thinking, I know, but just in case).
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#7
03-17-2005, 05:43 AM
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Re: Staking a friend
No way I'm not getting a "player's cut". My knowledge and experience - my "blood, sweat, and tears" - is worth quite a bit.
I'm not letting anyone walk with a full share of tourney winnings just b/c they "know" a good poker player.
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#8
03-17-2005, 05:50 AM
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Re: Staking a friend
[ QUOTE ]
No way I'm not getting a "player's cut". My knowledge and experience - my "blood, sweat, and tears" - is worth quite a bit. I'm not letting anyone walk with a full share of tourney winnings just b/c they "know" a good poker player. [/ QUOTE ] But they are your friends, and they believe in you. How much is that worth? I know I wouldn't be half the poker player I am if not for the faith my friends have in my abilities. I'd try to give something back to them whenever it is "ok" to do so. CSC
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#10
03-17-2005, 06:33 AM
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Re: Staking a friend
[ QUOTE ]
wow, that's pretty much highway robbery. Gavin [/ QUOTE ] Is it really? Let's talk about this. Let's consider worst case scenario for the investors. $500 buy-in, 5 investors @ $100/ea, I put up none of my money. I offer them 10% of winnings with a cap of 100x their buy-in ($10,000). Is that really so out of line considering not a one of them knows the first thing about poker? Not to mention, I've spent the last 4 years of my life learning the game. Can you put a price tag on that? My primary concern is definitely not the "fairness" of the deal; I just want them to be completely aware of the longshot odds that we're facing in the first place and that their buy-in for a single tournament is probably going to get them nothing. Slightly better odds than the lottery, that's all I can offer.
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