Staking a buddy (take 2)

[whodaman]

In these vague staking agreements once he cashes out it has to be over.
For example. If he was up 2k the 1st month. He cashes it all out. Hands you 500. keeps 1500
2nd month he busts. You end up losing 1500 while he made 1500. Doesn't sound like a good idea does it?

[jman220]

[ QUOTE ]
[ QUOTE ]
But knowing him, he was probably playing well above the roll.

[/ QUOTE ]

Then this is a poor investment and most likely a sunk cost of $2K for you. I wouldn't lend him more money.

[/ QUOTE ]

Agreed. Players like that will never do well in the long run in poker.

[ginko]

[ QUOTE ]
Here's the short version: I staked a friend 2k. I got 25% plus all his rakeback (if he loses, it's on me). Two weeks in he was up and cashed out 1,100 (for bills). I took 25% of that as well. Then he lost the rest. Interestingly, between the rakeback and the money from the cashout, I've gotten a return of exactly 2k. Now what the hell do I do?

Do we just start over? Would you alter the deal? How do you feel about him cashing out only part of his winnings like that?

Thanks for your help.

[/ QUOTE ]

It's seems to me that you are a winning poker player. Your friend see's the easy money rolling in for you and wants in on some of the action to pay his bills.

You want him to be happy and being the good friend you are you try to help him by staking him. But I'm going to take a guess here and say that your friend is a bad player. Breakeven or losing player, your choice.

Poker isnt a get rich quick scheme unless you are a very dedicated individual that can avoid a big downswing early on.

Lend him some books or just give him the 2k since you dont care anyways.

[stigmata]

I think you could probably help your frend more by mentoring/coaching him. Make sure to start by explaining bankroll requirements and variance. Lend him your books. Start him in the kiddy pool. Sweat him.

It shouldn't be too difficult to create a winning $5/10 6-max (limit) or $33 SNG player or whatever. This will help your freind, and you will end up being payed back with substantial amount of rakeback.