What's a good staking deal for WSOP ME 2006?

Vee Quiva · #1 11-03-2005, 01:39 PM

My friend has offerred to stake me 50% of the buy in for the WSOP ME 2006. He knows it's something I really want to play in and he will get some thrill of knowing he helped one of his friends make his dream come true.

He is also doing it to make money.

Here is the deal he is proposing:
1. If I win my way in through satellites or online, he will receive 10% of my winnings. By having the confidence of knowing I am going to play either way, he deserves some compensation for putting up the $5,000 now.

2. Of the first 10,000 in winnings, he receives 100% I receive 0%

3. On every dollar over $10,000 I get 40% and he gets 60%

4. I must pay his hotel and food costs for the time he is in Vegas rooting for me.

I am a winning low stakes cash game player. I am sure I am a net loser in large multi table tournaments. So he is taking a lot of risk with the 5,000.

On the other hand, it seems like I am giving a lot away if I happen to go on a good run.

Does anyone out there feel comfortable sharing what their staking arrangements were for the WSOP?

This is just a one time deal, not a year long arrangement.

ConsciousOne · #2 11-03-2005, 01:45 PM

Well that doesnt seem very fair if he is only putting up half the buy in, and gets the first 10k, and then you only get 40% after that. Why not just 50/50 any prize money?

Shajen · #3 11-03-2005, 01:47 PM

[ QUOTE ]
Well that doesnt seem very fair if he is only putting up half the buy in, and gets the first 10k, and then you only get 40% after that. Why not just 50/50 any prize money?

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also, check the archives, there's some good stuff from back in the day.

Guthrie · #4 11-03-2005, 01:49 PM

Just take the 5K you plan to put up for half the entry and keep entering satellites until you win a seat. If you can't win a seat then maybe you shouldn't buy one either.

If someone staked me for 50% there's no way in hell I'd pay his expenses to come to Las Vegas and watch. That's stupid. Tell him you'll take 4K instead of 5K and let him pay his own damn expenses. Make him take a smaller cut for putting up less of the buy-in. That increases your percentage of the deal relative to his, so if you win you'll get more and he'll get less, but if you lose, the cash cost is the same to you.

Wake up CALL · #5 11-03-2005, 05:30 PM

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Well that doesnt seem very fair if he is only putting up half the buy in, and gets the first 10k, and then you only get 40% after that. Why not just 50/50 any prize money?

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Because the odds of him cashing at all are so low in fact nil since he admits he will not enter without the help of his friend the 40% deal is a complete bargain. Heck 75% of the players who enter would be nuts to decline this offer.

#6 11-04-2005, 02:30 PM

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2. Of the first 10,000 in winnings, he receives 100% I receive 0%

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Why? You are doing all of the heavy lifting. He is simply making a business investment.
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3. On every dollar over $10,000 I get 40% and he gets 60%

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Should be 50/50
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4. I must pay his hotel and food costs for the time he is in Vegas rooting for me.

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This is a friend? No, he pays his own freight if he wants to look after his investment.

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Does anyone out there feel comfortable sharing what their staking arrangements were for the WSOP?

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There are too many mixed messages here with you two as friends and business partners.

First, this needs to be dealt with as a business deal. He is banking on your abilities as a poker player to get an ROI. You need to go into the arrangement with the belief that you can provide ROI. If he thinks it is too much of a risk or if you think there is a high probability that you cannot make it, you two should not do a deal.

Since he is only putting up half it is completely unreasonable for him to expect 100% of the first $10K. The first $10K should be split 50/50 so you both recoup your investment. After that you can do 60/40 for him if you feel his $5K contribution is that vital (read: you cannot get in any other way).

Finally, the food, beverage and room requirement is the most un-friendlike thing I have heard in a long time. He may not see it that way but there is no way you should be paying for a spectator to come watch you play. You both should pay your own freight. The exception would be that if he is getting 60% or more, he should pay yours.

Toddy · #7 11-04-2005, 02:35 PM

[ QUOTE ]
My friend has offerred to stake me 50% of the buy in for the WSOP ME 2006. He knows it's something I really want to play in and he will get some thrill of knowing he helped one of his friends make his dream come true.

He is also doing it to make money.

Here is the deal he is proposing:
1. If I win my way in through satellites or online, he will receive 10% of my winnings. By having the confidence of knowing I am going to play either way, he deserves some compensation for putting up the $5,000 now.

2. Of the first 10,000 in winnings, he receives 100% I receive 0%

3. On every dollar over $10,000 I get 40% and he gets 60%

4. I must pay his hotel and food costs for the time he is in Vegas rooting for me.

I am a winning low stakes cash game player. I am sure I am a net loser in large multi table tournaments. So he is taking a lot of risk with the 5,000.

On the other hand, it seems like I am giving a lot away if I happen to go on a good run.

Does anyone out there feel comfortable sharing what their staking arrangements were for the WSOP?

This is just a one time deal, not a year long arrangement.

[/ QUOTE ]

If you sneak into the money and get $12,500 (hypothetically) you'll lose money.. You'll put up over 6k (including his accomations) and you'll only get $2500 back. Doesn't sound good to me.

dogmeat · #8 11-04-2005, 02:54 PM

Overall, this is an excellent offer for a low-limit player. You put your friend up in your room, and buy him a dozen meals - what's that cost you? Maybe $200.

You are getting $5 grand for eight months.

You should take the deal and be happy. And yes, I would take it myself.

Dogmeat [img]/images/graemlins/spade.gif[/img]

Vee Quiva · #9 11-04-2005, 03:55 PM

He is a very good friend of mine. Part of our friendship is the angles we try to play on each other in good fun.

Currently I feel like I deserve a bigger cut. That's why I have not accepted the offer yet.

Here is another one he offerred:

We play Heads Up NL Freezeout. The loser has to stake the winner 50% of the buy in and play in the Main Event as well. All earnings between the two of us from the World Series will be split 50-50.

Can someone link up some of the staking discussions? I tried using the search function and failed miserably.

#10 11-04-2005, 06:31 PM

[ QUOTE ]
Overall, this is an excellent offer for a low-limit player. You put your friend up in your room, and buy him a dozen meals - what's that cost you? Maybe $200.

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Assuming he stays 8 days, $200 is $25/day. Where can one get a hotel and 3 meals for $25/day? Even the cheapest Vegas rooms are at least $40/day (and I'm talking Motel 6, not anything fancy). And I think his friend would tire of the $2 buffets if he had to eat them for every meal.