is this a wise investment?

dethgrind · #1 08-04-2005, 05:39 PM

I've built up a pretty nice bankroll through bonus whoring and a good run at the SNGs. I tell my friends about how easy bonus whoring is, and they want to do it, but just aren't willing to risk the start up money.

My plan is to simply back them with the standard deal: split the winnings 50-50, if they lose it's on me. I'll back them for any of the Party skin sign up bonuses, and the deal ends as soon as they clear the bonus.

These are smart guys, UCLA science students, and I trust them. They have a good amount of home game experience, and have watched some WSOP and WPT stuff, so they aren't complete novices. I will require them to read GSIH and SSH before they start playing. Before they finish clearing the bonus, they must post ten (or some other number) hands they weren't sure about on this forum, and read the responses. They will play 1-2 limit holdem, no more than two tables at a time. No alcohol while playing.

My guess is that after reading those two books and talking to me about them, they will be slightly better than break even players. Combined with the huge overlay of clearing the bonuses, this seems like a good investment for me. I'm also hoping that they will catch the poker bug, so I'll have some more people to talk strategy with.

What do you think?

tiltaholic · #2 08-04-2005, 05:43 PM

dumb.
just my 2 cents.

"and have watched some WSOP and WPT stuff, so they aren't complete novices."

uh. no comment.

teajay · #3 08-04-2005, 05:43 PM

Money and friends don't mix.
Especially ones that are too scared to risk their own money on a game, but have no problem if it's yours.

There's plenty of people on here to discuss strategy with.

dethgrind · #4 08-04-2005, 05:46 PM

[ QUOTE ]
dumb.
just my 2 cents.

"and have watched some WSOP and WPT stuff, so they aren't complete novices."

uh. no comment.

[/ QUOTE ]

Yeah, sounds stupid at first, but think about it. They know the value of the hands. They can identify the nuts, and read the board in general. They know how to play poker, and they know the language.

tiltaholic · #5 08-04-2005, 05:53 PM

[ QUOTE ]
[ QUOTE ]
dumb.
just my 2 cents.

"and have watched some WSOP and WPT stuff, so they aren't complete novices."

uh. no comment.

[/ QUOTE ]

Yeah, sounds stupid at first, but think about it. They know the value of the hands. They can identify the nuts, and read the board in general. They know how to play poker, and they know the language.

[/ QUOTE ]

so why are you trying to profit off your friends? just teach them the game if they want to learn and leave it at that.

Aaron W. · #6 08-04-2005, 05:53 PM

[ QUOTE ]
These are smart guys, UCLA science students, and I trust them. They have a good amount of home game experience, and have watched some WSOP and WPT stuff, so they aren't complete novices. I will require them to read GSIH and SSH before they start playing. Before they finish clearing the bonus, they must post ten (or some other number) hands they weren't sure about on this forum, and read the responses. They will play 1-2 limit holdem, no more than two tables at a time. No alcohol while playing.

[/ QUOTE ]

First, your friendship comes first. Money between friends can be very very dangerous to friendships. Keep that in mind. The hardship will fall on your shoulders if they bust out, which is something that you will have to bear the full responsibility for. You need to be willing to lose the $200 each (or however much you give them up front) without bearing an emotional grudge.

Also, if your friends have addictive personalities, do them a favor and don't get them involved with something potentailly dangerous to their well-being. Poker is fun, but there are a bunch of online degenerates wasting their college lives away by playing too much poker.

As far as posting hands... that's not what you should have them do. You should give them a 'test' of maybe 15-20 hands from this board and ask them what they would do and why. This is much more indicative of their ability to succeed than just having them read books. Watching WSOP and WPT is generally -EV because what they see is not what they get at $1/2.

Regarding the mechanics of it, consider how much time they have and are willing to spend playing the game. I believe that the Party skins have a time limit on the bonus (unlike Paradise, where your money will wait FOREVER for you to come and claim it). There's a distinct possibility that they will not play enough hands in the required time and you're going to be left with no bonus money to collect.

I wouldn't do it. If they don't have the desire to front the money themselves, they probably don't have the desire to sit through all the hands to complete the bonus. Your friends are your friends, not money-making machines to earn you an extra couple hundred dollars. And money between friends can be very dangerous.

GrunchCan · #7 08-04-2005, 05:56 PM

I also think it's a very bad idea for reasons that others have elaborated.

Also, your frineds are (probably) much worse at the poker than you give them credit for.

deception5 · #8 08-04-2005, 06:00 PM

After thinking about it it still doesn't sound like a good idea.

Why do they need to play 1/2 when there are lower limits available and they can bonus whore effectively against worse players at .50/1.00?

bozlax · #9 08-04-2005, 06:05 PM

I gotta say, if there were anyone that should do this (and I don't think there is, for all the aforementioned reasons), you are not the guy to do it. You sound like somebody's father, putting conditions on what kind of summer job they have to have before they can use the car.

Were I one of your "friends," and you came to me with this proposition, it's less than even money that I wouldn't punch you. Or, take you up on it and lose your money out of spite.

And, it's cheaper to buy your friends on Santa Monica Blvd., anyway.

benkath1 · #10 08-04-2005, 06:11 PM

I just did this with my best friend of 15 years. I trust him with my life. I put 200 into his party account to clear a 50% offer he got. He (we) played and cleared the bonus, and gave me 200 back (plus what I'd won while playing, but that can be kept quiet).

I think if you trust them enough it's OK, but I wouldn't try and make money off your friends. Give em a loan to clear a bonus and see what happens. If they love it and do OK then they have a start and can start grinding like you did. If they go broke after that, then they're on their own.

my .02