WPT Backing - CSC

[CardSharpCook]

Inspired by Sirio and encouraged by others, I've decided to try selling shares of myself to WPT events. Shares will include travel expenses, but not a players share. To be clear, the only profit I make is from money I invest. My benefit in this is decreasing variance and decreasing cost of travel. However, I will pay the taxes on any winnings. That is, I will be reporting this as 100% my win, and will take out taxes accordingly. Done this way, you will not have to be any additional taxes. To see if this idea takes, we're going to start with this up-coming *Legends of Poker* event. For this event, there is no cost of travel. I have already purchased my seat for $5150. I will be selling $25 shares and encourage investors to buy as many as desired. For this event, there are 206 shares available.

A little about me....

I have cut down the number of MTTs I play significantly. I am a professional limit player logging 5K hands a day at the 15/30 and 20/40 tables. I played 7 WSOP events, cashing in only one, though I finished in the top 20% 4 of those times (35% in razz [img]/images/graemlins/grin.gif[/img]) I have played in about 5 of the Legends events, cashing only once - but that was a 3rd place finish. I only plan to continue playing professionally for another 11 months. After that, it is either back to cooking, or possibly a stint in the Peace Corps - still thinking about that (and if anybody has some personal anecdotes about the PC, I'd love to hear them). For this year, I hope to live the poker life to the fullest. That is, I want to travel to all the events. I am playing poker to build capital. Some day I may open a restaurant, buy a house, or go back to school - who knows. However, the WPT would be, for me, more about the wonderful experience. I make what I consider to be an obscene amount of money from the limit tables, and I see time spent at MTTs as an opportunity cost. That is, I'd make more money if I just stuck to limit tables. However, I certainly believe that I am a +EV MTT player. I'm not going to venture a guess at just how +EV I am.

Final note, I sold shares of myself to family and friends for the 7 WSOP events ($75 share received a $17.44 rebate). I wrote detailed and fun tourney reports for each event. These were well-received - "it was worth it just for those reports, Brendan!" I will do the same for these, sending emails to the investors.

Thanks for taking the time to consider this proposal.

Brendan Taylor