X-posted from MTT: Proposed staking arrangement
 

Background:

I have a friend who is a very strong player. I'd say better than me when he is playing his A game. He also has a gambling problem. He basically came up playing SNGs, MTT NL Hold'em. He blew up really big, really fast -- final tabling several Party multis.

He started to 4 table the 10/20 Party PLO game and destroyed that for even more. He actually played as high as 400/800 mixed games and 100/200 PLO.

Then he managed to blow hundreds of thousands betting sports, craps, and BJ.

Now he's basically broke and wanting to get back to basics playing SNGs and MTTs. The stipulations of the staking agreement would be as follows:

1. He can ONLY play SNGs and MTT NL Hold'em tournies with a max of 100+9 on the buy-in.

2. He e-mails me the results of any SNG or MTT he plays in.

3. If he goes broke I don't get paid back.

4. I stake him 2k, if/when he gets it to 6k, he transfers me 4k

5. I get 15% of any online MTT cash prize over $1k that he enters until June 1st '06.

Anything is negotiable.

What say you 2+2?

Re: X-posted from MTT: Proposed staking arrangement
 

If you pick-up a wounded snake & nurse it back to health; don't be surprised when it bites you [img]/images/graemlins/frown.gif[/img]

Re: X-posted from MTT: Proposed staking arrangement
 

If he is such a strong player why does he need staking for 2K? For a player as good as you say he is he sould be able to make this in about a week starting from about $300.

Re: X-posted from MTT: Proposed staking arrangement
 

If your player has a brain cell, he will spend all of your money on MTTs until he is either rich or broke.

Re: X-posted from MTT: Proposed staking arrangement
 

[ QUOTE ]
If your player has a brain cell, he will spend all of your money on MTTs until he is either rich or broke.

[/ QUOTE ]

That's a very good point. You need to give him a share of the profits up to 6k (I may be misunderstanding the agreement).

Re: X-posted from MTT: Proposed staking arrangement
 

He was playing 400/800 and is asking you to stake him for $2,000? Wow, that's a pretty sharp fall.

If anything, give him $300 and ask him to grind up from the $10+1s

Re: X-posted from MTT: Proposed staking arrangement
 

[ QUOTE ]
Background:

I have a friend ... He also has a gambling problem... he managed to blow hundreds of thousands ... The stipulations of the staking agreement would be as follows:


[/ QUOTE ]

You are no friend.

Re: X-posted from MTT: Proposed staking arrangement
 

[ QUOTE ]
If you pick-up a wounded snake & nurse it back to health; don't be surprised when it bites you [img]/images/graemlins/frown.gif[/img]

[/ QUOTE ]

hey...that was in my fortune cookie tonight! But you forgot the part about my lucky numbers being 45 6 27 2!

(just continuing the chinese theme here in the forum tonight...I am the glue!)