Need Backer

[Xyeej]

I know there's been a relatively bad aura surrounding backing players in this forum for the past few weeks, but I figured I would at least try.

Me: 18, Senior in high school. Playing for 12 months now. Started at NL25 and was playing NL50 and $22 SNGs on Party until this week. I have recently liquidated my Party account because I will be going to Europe this summer. So I am out of a bankroll and want to scrape out a new one by entering into a backing agreement with someone.

I was formally playing the $22 SNGs at Party and had a ROI of ~25-28% and an ITM of ~39-44% over 230 SNGS. These stats are on my other computer so the numbers are a bit fuzzy.

I play 3 tables at a time (2sngs and 1 nl cash) for 2-3hrs/day on weekdays and 8hrs/day on weekends. I get in 30-40 SNGs in per week.

I need:

-Preferable staking for $22 SNGs (25-30 buyins), but willing to play the $11s

Terms: (I am set on these, but any additions, I'm all ears.)

- I am 100% liable for stake if lost.
- I have option to buy out backer after a predetermined amount of SNGs for a predetermined price.
- Backer will receive 50% of all profits indefinitely or until I buy-out of the agreement.


I am completely serious on this. This Friday my spring break begins. I plan to devote this break to rebuild my bankroll. No spring break trip for me because I'm planning to tour Europe this summer.

William

[Xyeej]

oh snap

[1C5]

Scrape together the money if at all possible. This is a bad deal for you.

[Mr_J]

I agree. You could really get started with $100-150 (at the $11s) and probally not experience a large enough downswing to bust you. Course, more is better.

[BradleyT]

[ QUOTE ]
I know there's been a relatively bad aura surrounding backing players in this forum for the past few weeks, but I figured I would at least try.

Me: 18, Senior in high school. Playing for 12 months now. Started at NL25 and was playing NL50 and $22 SNGs on Party until this week. I have recently liquidated my Party account because I will be going to Europe this summer. So I am out of a bankroll and want to scrape out a new one by entering into a backing agreement with someone.

I was formally playing the $22 SNGs at Party and had a ROI of ~25-28% and an ITM of ~39-44% over 230 SNGS. These stats are on my other computer so the numbers are a bit fuzzy.

I play 3 tables at a time (2sngs and 1 nl cash) for 2-3hrs/day on weekdays and 8hrs/day on weekends. I get in 30-40 SNGs in per week.

I need:

-Preferable staking for $22 SNGs (25-30 buyins), but willing to play the $11s

Terms: (I am set on these, but any additions, I'm all ears.)

- I am 100% liable for stake if lost.
- I have option to buy out backer after a predetermined amount of SNGs for a predetermined price.
- Backer will receive 50% of all profits indefinitely or until I buy-out of the agreement.


I am completely serious on this. This Friday my spring break begins. I plan to devote this break to rebuild my bankroll. No spring break trip for me because I'm planning to tour Europe this summer.

William

[/ QUOTE ]

Save $200 from your Europe trip.

[FishBurger]

After exchanging a few PMs, I have decided to back Xyeej at the $22s under the following agreement:

1) FishBurger agrees to provide $550 bankroll for the $22 SnGs on Party. Xyeej agress to play no higher than the $22s but may play lower ($11s). Xyeej is 100% liable for stake if lost.
2) FishBurger will receive 40% of all profits indefinitely or until Xyeej buy-outs of the agreement.
3) Xyeej has option to buy out backer (FishBurger) at any time. Xyeej just needs to return the original roll ($550) plus 40% of profits made up until time of buyout.
4) FishBurger has the right to cancel this agreement and receive the original bankroll back ($550) plus 40% of profits made up until that time if Xyeej does not play at least 40 SnGs per month.
5) Xyeej agrees to transfer 40% of profits to FishBurger at the end of each month, with the first transfer taking place on April 30, 2005.
6) In the event the roll is lost, Xyeej agrees to pay back FishBurger at the minimum rate of $125 bi-weekly until the roll is repaid ($550) with the first payment taking place on April 18, 2005.

I asked Xyeej if he wouldn't mind if I posted our agreement here and he said that was fine. I like the idea of posting a written agreement publicly before the backing begins because it will keep both of us accountable in the future.

If anyone (especially those that have backed or have been backed) sees anything in the above agreement that is unclear, please post suggested revisions in this thread. This is the first time I have entered into a backing agreement and if this backing arrangement works out I plan on backing other players using a similar "contract" as that posted above.

[citanul]

i don't know if it would interest either of you, but i would have made a clause for if you wanted to continue backing him and move him up in stakes.

citanul

[J-Lo]

I'm more skeptical at the fact that he only has <30 posts... Taking it for what it is, it easily looks like a skam, but if u feel confident being able to "read" a good player from a con artist, more power to you. If this is for real, i wish you both the best of luck. [img]/images/graemlins/smile.gif[/img]

[Xyeej]

Let's hope it all works out. [img]/images/graemlins/grin.gif[/img]

[Degen]

horrible deal for you man, but hope it works out.

Degen