This sound like a scam?

[BradleyT]

Why do they need YOU to play. Why wouldn't they play with their own money (taking into account they don't know you/how you play).

[Jim Easton]

[ QUOTE ]
Why do they need YOU to play.

[/ QUOTE ]

Because they have a bankroll too big for any online game. Why limit that bankroll to 2 or 3 games at a time when they could get half of other people's action? If you had the cash, and the players were willing to take the deal, would you bankroll Vehn and GoT in the Party 15/30 games? Think about it, if they would take the deal, you would have half of each of their action, effectively all of one players action, without doing anything but providing money. With sufficient bankroll, the risk of both of them busting out is rather small. I can't imagine either of them being willing to take such a deal, as they would be giving up way too much.

A deal like this might work with some good 5/10 players that have the game but just don't have the bankroll for 15/30, that way each side could benefit.

Bankrolling a player for half his action is a fairly standard agreement. That said, this is the internet and fraudsters abound.

[BradleyT]

If you had that kind of cash, wouldn't you be able to find some "real" investment vehicles that have a higher payback?

This is very high risk.
A. The player could be a losing player
B. The player could be a winning player but starts off on a losing streak
C. The player chip dumps to their friend.

[Bubmack]

I doubt if you could find a "real" investment with a higher payback. You could reasonably expect this investment to earn you 1% on a daily basis. I do agree it is very high risk...but with a stable of players that accept your terms..this could be very profitable and risk could be reasonably managed.

[Jim Easton]

[ QUOTE ]
If you had that kind of cash, wouldn't you be able to find some "real" investment vehicles that have a higher payback?

[/ QUOTE ]

Assume you give a 9,000 BR to a player to play 2 15/30's at Party for 30 hours per week. If the player beats the games for 1 BB per hour per table, that's 90,000. Your half is 45K. It is highly unlikely you could find a "real" investment with that kind of return.

[ QUOTE ]
This is very high risk.

[/ QUOTE ]

This is compensated for by the high return.

[ QUOTE ]

A. The player could be a losing player
B. The player could be a winning player but starts off on a losing streak
C. The player chip dumps to their friend.

[/ QUOTE ]

A is overcome through research, discussion and observation. B is just part of the risk. I'm not sure how they overcome C, I know the first precaution would be to not give the entire bankroll at once. Even with these risks, this type of deal does happen in B & M casinos.

This certainly could be a scam, this is the internet, but those that argue it is too good to be true (it isn't, you are giving up half of your earn) or that it must be a scam because no one would legitimately make such an offer just aren't correct.

What would concern me in this is how did the offeror find the player? Your concern A is the first hurdle in such a deal and I don't see random emails as a good way to overcome it.

[Frozen]

I think it may be for real....yet another parallel between the daytrading boom of the late 90's and today's online poker game. It was extremely common for 'prop shops' to back new daytraders with their own capital, and payout 50%+ of net profit generated. In fact, firms of this sort still exist, albeit on a much smaller scale.

Could the same business model work for online poker?
With today's juicy games, and with careful screening of applicants, starting them off small, and providing more capital as they improve..yes. The only major flaw I see is that online poker requires a much smaller bankroll than equities daytrading. Why wouldn't the successful player just quit, and play his own money?

[Jim Easton]

[ QUOTE ]
Why wouldn't the successful player just quit, and play his own money?


[/ QUOTE ]

I can't get past this one, either. I can imagine scouting 5/10's for quality players to bankroll in 15/30 at Party. I can certainly imagine finding players willing to play bigger without the downside risk. However, after they establish they can beat the game, and their 50% is sufficient bankroll, they're gone.

[Jim Kuhn]

The only question I would ask is who provided my email as a very serious poker player? Do you really think someone that watched you play AND has your email referred you to these crooks?

[clovenhoof]

The main purpose of money laundering is to create a plausible source for ill-gotten gains, primarily cash. Once money gets into the electronic account, they don't need to give anything away -- the internet has made that aspect of laundering subject only to the limits of the imagination.

The problem is still converting greenbacks to e-backs, and finding someone to help move around e-backs doesn't fix the problem.

But I'm with everyone who think's it's a scam.

'hoof

[clovenhoof]

Monday -$500
Tuesday +$750
Wednesday +$400
Thursday -$250
Friday +$850
Saturday -$450
Sunday in church, no gambling.

I don't think there are very many games where the swings are low enough that (.5)xW-L>0.

'hoof