A question: The fundamentals of backing

[skipperbob]

I vowed I'de stay outa this one (for obvious reasons); but I need to say that "jcm4ccc" is among my top-4 respected posters...How about the irony of Irieguy being #1

[Mr_J]

"He played at a level higher than he is comfortable, because Irieguy agreed to bankroll him. He lost that bankroll. Now he is playing at smaller buy-ins, but he's still obligated to pay back the money to Irieguy. It will take him months or perhaps years to earn back the money (since he's not playing at those buy-ins anymore). That's enough to make a guy quit poker for good. That wasn't exactly the spirit of the original arrangement."

I don't see how it'd take long at all. Irieguy specified that the backee must play a certain number of sngs a month (500 I think). I doubt that amount is more than 2k. Someone with the time to play 500+ sngs a month should be able to make back a couple of K reasonably quickly even if starting at the $11s.

I would have been more cautious using the money of someone else. When he was running low, why didn't he step down a buy-in?

[rickr]

That's why I said I wasn't sure of the agreement. Wasn't passing judgement, only asking questions for op to ponder. Don't even expect an answer. There are two sides to everything, and I wouldn't intentionally jump to conclusions. Really, we can't answer this for either of them. We don't know the whole story, and getting the whole story would require a huge hashing out here on the forum, which I believe would be wrong. The only way I could see getting the forum involved at all would be for both sides to pick a respected member to be arbitrator, present both sides of the issue via pm's, and let said respected member make a verdict. Agian, not sure it has any place here at all though.

Later,
Rick

[citanul]

Did I miss these details somehow about Irieguy backing the player to a "level higher than his comfort zone"? I didn't see that in the OP. Whatever, I'm guessing that there is just language that's in the original agreement that covers busting and having ot pay back, even if it has to be a slow payback process.

citanul

[mackthefork]

Okay lets let this thread die then, I think we mostly agree posting this was in very bad taste.

Mack

[Mr_J]

"about Irieguy backing the player to a "level higher than his comfort zone""

From what I remember the post wasn't that detailed.

I doubt he'd back someone that's out of their comfort zone. Playing over your head with someone else's money is pretty irresponsible. I'd think the guy was probally a $33er or $55er that didn't have the BR for it.

[Insty]

[ QUOTE ]

I was to play SNG's with the backing and chop the winnings 50/50 for the length of the arrangement. I could stop the arrangment whenever i liked by returning the roll i had been provided. Other than a couple of small other detials not pertaining to the issue at hand, that was the extent of our verbal and written (emails) agreement.


[/ QUOTE ]
[ QUOTE ]

any thoughts, suggestions? Am i a bone head to think that when i dropped his roll and came back on my own i was ON MY OWN?


[/ QUOTE ]

You've not payed him back, so the arrangement is still valid, thus you need to chop the winnings.

Was he still helping you out on these comeback games?
Either way you should at least pay back the original roll and end the arrangement.
If you've not yet won back the entire roll keep playing until you do.


Why didn't you just go on your own to start with?

[spentrent]

The better part of valor is discretion, in the which better part I have saved my life.
-- Shakespeare, Henry IV, Part I

Handle your business before your business handles you.
-- Xzibit, Handle Your Business

[jcm4ccc]

[ QUOTE ]
"about Irieguy backing the player to a "level higher than his comfort zone""

From what I remember the post wasn't that detailed.

I doubt he'd back someone that's out of their comfort zone. Playing over your head with someone else's money is pretty irresponsible. I'd think the guy was probally a $33er or $55er that didn't have the BR for it.

[/ QUOTE ]

[ QUOTE ]

From Irieguy:
Player 3 This is a player whose name I knew well from this forum, but who didn't reply to my solicitation. So I sent a PM that basically said "are you sure you don't want me to bankroll you?" This was an $11 player whom I felt could be beating the $33 games if they had the psychological comfort of an adequate bankroll.

[/ QUOTE ]

I don't know who is in the right here. I don't think this is the person who lost the bankroll, but suppose it is? Would that change your mind?

I just don't think any of us can make a judgment about this situation without knowing the details.

[Mr_J]

"I just don't think any of us can make a judgment about this situation without knowing the details."

Agree. Like other people have said this really isn't our business anyway.