A question: The fundamentals of backing

[SuitedSixes]

Gaucho-

One question, in two parts.

Why did you seek backing in the first place? Were you short on cash and desperate to get back in the game or were you more interested in the idea of playing on someone else's dime?

I think the fundamental that you are missing is the reason why most people seek backing. Usually it is because they have needed to use their roll to pay for life, or they are capable of playing at a higher level but don't have the roll for it.

[GauchoFish]

no. the way it would work, from their perspective...is that any money i made (profit) after dropping the roll would go directly back to paying to roll off...anything over that we split until i pay it back in full (meaning return the money).

That is not my understanding of traditional backing.

I understood it as you are backed for a set amount, if you lose that amount...backing over.



What if this happened:


A: Irie stakes me for $1k
B: I lose the $1k
C: Player X stakes me for $1k
D: I profit 1k from this

???

According to the logic of the other side...

-$500 of this $1,000 would go to Player X
-$1000 would go to Irie's bankroll support of me
-$1000 would still belong to Player X as his bankroll support for me
-$500 would be my profit

errr?

i just lost $500 by winning a grand


WD

[Phil Van Sexton]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
Profit = Current Bankroll - Original Bankroll

[/ QUOTE ]

So if he deposits $5000 into his account, he immediately owes Irie $2000? ($4000 = $5000 - $1000, Irie gets 50%=$2000).....and he still owes the $1000 principal.

[/ QUOTE ]

Let's not be silly, Phil.

[/ QUOTE ]

I can't help it. This whole thread is silly, so I figured I'd pile on for no good reason.

I'm just pointing out that this whole "he owes 50% profit" thing is not as clear cut as people make it out to be. Sinc e the villian has put up the bankroll to make this profit, it's not clear which part is his bankroll, which part is his profit, and which part is Irie's profit. Hence the "Profit = Current Bankroll - Original Bankroll" is simply wrong.

This is one reason why backing agreements end when the stake is lost. The equation provided only applies when playing with the original stake.

[AtticusFinch]

[ QUOTE ]

I appreciate your concern for my personal morals and ethics, though i kindly ask you to mind your own [censored] morals and stop making this personal.

[/ QUOTE ]

This is amusing coming from the person who reacted to the opinions he solicited with personal attacks, including accusing me of dishonesty when I have no personal stake in the outcome. I did not make this personal. You did.

I'm through with this debate, though. I've said my piece. Make your own decision and live with it.

[GauchoFish]

i posted what i received

[GauchoFish]

mine doesn't say that...i posted mine and it does not have this line in it

[Phil Van Sexton]

[ QUOTE ]
how ironic that i am verbally assaulted once again by a familiar name and backed up by one i have never seen.

[/ QUOTE ]

I don't know if I'm familiar to you or not. I will give my opinion and then return to my own boring life.

If your email from Irie contains the quote: "What this deal gives you is a risk-free bankroll", then I agree that you do not owe him money if you legitimately lost the stake at the tables.

edit: I now see your posts about not receiving the exact same email. If you had received the same email as SS or an equivalent correspondence, I would agree with you.

[GauchoFish]

that is not what i received...i have posted my PM from Irie under SuitedSixes's post

[GauchoFish]

once again, making it personal

[raptor517]

ok first off, im the first name listed as one of the 'regulars' thats posts a lot and is coming down hard on gaucho. i said nothing about him being scum, a terrible person, or he should burn in hell. so again, dont make personal attacks where they are not warranted. ive already stated that both sides of the argument can be made effictively by both parties, so it will be hard to convince either side who is in the right. holla