Backing Question

[KingDan]

I am considering about backing a friend of mine, and have a couple questions.

We are going to do a deal where I would get 50% the winnings but have to cover his losses.

Say he lose $200 6x in a row but then cashes for 600. How much should I get back?

Should be getting paid 200, even though overall he is -800?

They are each +ev individually so, they don't collectively become -ev. Something just feels off.


I seem to remember Fossilman making a good post about this, but I can't find it. If anyone has a link that would be awesome.

Thanks,
Dan