Backing Deal REDUX and update

[semipro]

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I would start by not saying you have a negative expectation in tournaments. People tend to not invest money in -EV ventures.

Jesus.

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REALLY!!! You mean, i DON'T tell them that I expect to lose some of the money that they may choose to invest with me??? Now I know why I posted this question, for obvious answers like yours. Thank you!!! Thank you SOOOOOO much. I NEVER would've realized my mistake without your helpful input.

Now, how about something actually useful?

[semipro]

[ QUOTE ]
guarantee them a certain ROI, say 20%. they won't get a better investment anywhere else. so they put in 1500, you give them back 300 a month. this way, you keep the majority of the profit (you earned it) and they get a nice return on their investment.

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Guarantee ROI is no good, that is as good as just a loan. For that, I have a line of credit that I can tap w/a MUCH lower interest rate. I want BACKERS, not loans, but thanks for the idea.

[dogmeat]

You are a tool.

Do you see why?

Dogmeat [img]/images/graemlins/spade.gif[/img]

[Tuco]

I have backed a number of people, both online and live. In all the deals, I took a person who I thought was a very good player (who for whatever reason had no poker bankroll) and gave them the opportunity to make us both some money. Every deal also had a makeup clause in case it didnt go well.

In one case, I bought my friend a computer, took it over to his house and set it up. I then gave him a BR for the party 15 game. That was the spring of '05. At this moment he is up close to 80K. My friend could not be happier for both of us. He is very grateful for the things I did for him, and vice-versa. We renogotiated the deal when it was clear that he could play on his own. Currently, I get 15% of his wins. Not bad considering that one day in mid december he make $10K in one day in the 30/60 at party. He has never once complained about how much I have made in the deal.

I also have lost several thousands where a player I back loses and cant continue. The money I make on the ones that win offsets this obviously, but its not always gravy.

No matter how good you are, I would not back a person like you who, for some reason, is bitter towards your backer because they made money. It takes two to win in these deals, and both should be compensated. Im not saying that you are a bad person or anything, just that you dont seem to understand that its a partnership.

As far as 50/50 being a "bad deal" for you, it is standard in most backing deals. Not sure where you get the idea that it is not enough.

Tuco.

[Punker]

Well post your real question ("How can I get someone else to pay my tuition for large buyin MTTs?") instead of what you asked.

You are in the wrong place to ask for that. Go find conmen.com or some such similar web site.

[stinkypete]

[ QUOTE ]
guarantee them a certain ROI, say 20%. they won't get a better investment anywhere else. so they put in 1500, you give them back 300 a month. this way, you keep the majority of the profit (you earned it) and they get a nice return on their investment.

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that is easily the worst advice i've read on this forum. ever.

[semipro]

Obviously you did not read the entire thread, otherwise, you would have read that I will also be sharing profits derived from ring games. Try re-reading the entire thread before flaming. You may learn more about the situation and realize how ill-conceived your "advice" is.

[semipro]

Thank you for the constructive feedback. Yes, I do feel bitterness, not necessarily with my backers, but more so with myself for allowing myself to have entered the original backing deal. The one thing that I did employ in the backing deal was that the time was limited to two months of play. Also, I think that I am bitter, because I was a profitable player before the deal, and I continue to be so, and should have realized that such a deal could have been negotiated with better terms. That is why I was asking for advice on this next period of backing. So, that I can find a happy medium for my backers and myself. As mentioned previously, I am not entertaining any thoughts of guaranteeing them a certain ROI, b/c then that is nothing but a loan, and I don't need nor want a loan.

Tuco, any further comments from you would be appreciated.

[semipro]

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You are a tool.

Do you see why?

Dogmeat [img]/images/graemlins/spade.gif[/img]

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At the expense of sounding naive, please elaborate on your above comment. Thanks.

[Rudbaeck]

If you can beat 15/30 for 2BB/100 you can beat any lower limit.

So, lets say you take your $3000 roll and start playing 5/10. You need to make 300BB at this limit to move up to 10/20. If you beat 15/30 for 2BB/100 it's pretty safe to assume you can beat 5/10 for 3. So, you need 10,000 hands at 5/10. 4-tabling lets you play 2k hands in about 8 hours. So you need one work week to reach 10/20.

At 10/20 you only need 150BBs to reach 15/30, but we'll assume you now 'only' win 2.5BB/100. Now you need to play 6k hands. Another 3 days work.

Starting with your current roll you can be rolled for 15/30 in 8 days, a week if you push the table hours. (Ok, 300BB is a very small roll for 15/30, so you might spend two weeks and start out with a 500BB roll...)