Re: Why does an allegedly winning player need a backer?
[ QUOTE ]
There is a lot of variance. To get rid of some of your variance you could sell a stake in yourself.
[/ QUOTE ]
Or you could play lower, which might even increase your edge.
Incidentally, a few years back one Gregory Raymer of Stonington, CT negotiated for backers right here on twoplustwo. I can't find the thread; sorry.
If I remember correctly, he had very particular reasons. Mainly, he wanted to play the WSOP, and he didn't want to fund it from his non-poker money. He thought he would have enough money to play when the time came, but couldn't be sure, what with poker being the game he is. So to reduce his variance without having to play lower, he sought backers.
The point was, for Greg, playing lower would have precluded playing the WSOP, which was his goal.
I have no idea who backed him or how it worked out but I guess they were at least backing a good horse [img]/images/graemlins/smile.gif[/img]
Guy.
|