#1
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Backing Question
I am considering about backing a friend of mine, and have a couple questions.
We are going to do a deal where I would get 50% the winnings but have to cover his losses. Say he lose $200 6x in a row but then cashes for 600. How much should I get back? Should be getting paid 200, even though overall he is -800? They are each +ev individually so, they don't collectively become -ev. Something just feels off. I seem to remember Fossilman making a good post about this, but I can't find it. If anyone has a link that would be awesome. Thanks, Dan |
#2
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Re: Backing Question
i say you should take like 50% of the profit. That way, all he has to be is +EV for it to be profitable for you.
If you take 50% of the winnings, ,he has to be a 100% ROI player for it to be +EV. --- As for wether to base it on each tournament or collective, if it's gonna be a long term thing, i think it makes more sense to have it based on all of them. So, if he loses 6 in a row, he 'owes' you 1200 from the winnigns. dunno if what i just wrote made sense, i'm tired/sick. |
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