A question: The fundamentals of backing

[stupidsucker]

Do you even have proof that you exausted his roll? Its so shady, and since I am such an ass..... Did you just steal the money and fake the losses?

Sorry to ask, but you have no sense of morals, so I wouldnt put it past you....

Its not like you are going to break down and cry and admit it if you did. Any HHs to show that you even played properly, or did you squander the roll like a gambler in order to try to make a big score with someone elses money.

You have an obligation to fill, and quite frankly I could care less what you have to say. Unless you show me bold proof that gave you an out clause with absolutly NO STRINGS attached IN WRITING, then you have failed as a human to be decent.

Thread over IMNSHO... now its just a circus and a waste of time. I thought maybe just maybe that after reading what people had to say you would have the stones to act like a man instead of a coward. You dont, and nothing will change that. People like you are all over the world, and until I become dictator(gimme 30 years) I have to suffer your spineless [censored].

[gumpzilla]

If he really stole it, why would he post such an obviously confused and suspicious looking deal in a public forum? Seems unlikely to me.

It also seems likely to me that he really didn't think he was going to have to pay it back if he blew the roll, because otherwise this is a mind bogglingly bad deal that I can't imagine anybody signing on for. That said, it still really surprises me that there is this little clarity (apparently) in the agreement. Such a fundamental issue as "Is this a loan?" seems like the kind of thing one might address here.

I just got this email from a guy in Nigeria who just came into some money who's looking to back some players, if any of you are interested.

[AngusThermopyle]

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If that were the agreement, then what risk did the backer take? ... That's one hell of a deal with no risk on the backer's part.

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1. Player takes $X.
2. Player looses $X.
3. Player stops playing.
4. "Backer" is out $X, as long a Player does not start playing again.

or

1. Player takes $X.
2. Player never plays.
3. "Backer" is not entitled to anything.

[microbet]

Not that it's any of my business but, I'm just contributing because I think this analogy may be apt. I officially have no position on this issue.

A bankroll to a poker player is like a taco cart to a taco cart guy.

He may lend his cart to someone else and split the profits. But even if he fails to sell a single taco, he still has to give back the cart.

[eastbay]

[ QUOTE ]

I am genuinely confused as to why the OP should have to pay back the entire roll.


[/ QUOTE ]

I don't think anybody "has to" (whatever that means) do anything. The OP could take the stake and buy a TV with it, and there's not much anyone can do about it.

What I'm suggesting is what I think is a reasonable course of action based on the limited information I have gleaned here.

[ QUOTE ]

If that were the agreement, then what risk did the backer take? With your reasoning, the backer either gets back his initial investment or somewhere between 2-4x his initial investment.


[/ QUOTE ]

Not necessarily. Since a backee can buy out at any time, he could play to a standstill, decide he's not winning, pay back the stake and everybody's even.

[ QUOTE ]

That's one hell of a deal with no risk on the backer's part.


[/ QUOTE ]

The backer obviously has the good end of the deal, because he's the one with the cash. The backee is at the backer's mercy because he (presumably) doesn't have any other options. Such a backing deal is nothing more than loan sharking (this is not a value judgment on Irie's deal - I don't actually know the details of his deal, express or implied). This is why I would never accept such a deal, but obviously people might choose this over the alternative of having no earning power because they have no stake.

eastbay

[GauchoFish]

i'm not going to dignify your accusation by pleading with you to trust me, i could care less.

i will say that i provided multiple hand histories and my TRANSACTION RECORD showing that i played the tourneys, had i been prodded i would have provided more, i was not.

WD

[gumpzilla]

[ QUOTE ]

1. Player takes $X.
2. Player never plays.
3. "Backer" is not entitled to anything.

[/ QUOTE ]

This would be an obvious loophole. However, in Irie's previous backing efforts, one of the prerequisites was that the backees were supposed to have enough time to play 500 SNGs each month, I believe. Such a requirement seems to me to suggest that part of the agreement was that the backee actually play poker.

[Daliman]

[ QUOTE ]
just looking for feedback...not judge and jury, but if people think its not cool to bring this out in the open, i probably wont do it again...

the roll was gone..how could i repay it? so when i start playing poker again, i'm to look at this as my roll, from the backer is now at 0...and all wins now pay back this roll, not go in my pocket?

what if i was to lose? should i be sending the backer a bill?

[/ QUOTE ]

As far as you bringing it out in the open, that's not really a huge deal. Irieguy blew the whistle on himself with this, although he is/was the most likely suspect.

I personally feel that you misconstrued Irie's implied contract. If he said you're off the hook, it's over, then that's one thing. That does not appear to be the case, and I'm not sure what happened with regards to the mentoring. What I am sure of is that unless you are an empty bottle of Heinekin, he will always deal with things on as professional level as possible. If he failed to live up to his mentoring, allow me to make a suggestion;

Pay Irieguy the $$$ owed to him, and I will mentor you for 10 full SNG hand historys, plus basic instruction for up to 2 additional hours. My time means alot to me, and I don't take on many students for that reason. But on the off chance that Irie has not fully lived up to his end of the bargain, I will be more than happy to help him out. I would think you'd find my instruction satisfactory, and there are a few that peruse these forums that can vouch for me.

Up to you.

[Daliman]

I'm yer huckleberry. [img]/images/graemlins/smirk.gif[/img]

[GauchoFish]

there was no mentoring with me, i was not part of his original set...i contacted him separately and asked to be backed. he obliged. from the time i met him to the time i finished my last touney was about four days.

wd