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  #1  
Old 11-24-2005, 02:32 AM
Jorge10 Jorge10 is offline
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Default Why do people need backers?

Ok I was reading Diablos post and Ed and Mason went over how backing might work. Here are a couple of questions I have.

Why do players need backers when it comes to paying for tourneys? Shouldnt they be able to back themselves since they are successful?

Also why do people back players who are unknown? Someone mentioned that "the grinder" was backed, but he was an unknown? When I first saw him play I assumed he won a seat online like everyone else that wins that is not a known pro. So why do people that are unknown get backing? Shouldnt they be good enough to pay for their own entries since they are obviously having great success at the cash games or smaller tourneys? Or at least be able to win a seat online?
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  #2  
Old 11-24-2005, 10:34 AM
BarronVangorToth BarronVangorToth is offline
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Default Re: Why do people need backers?

Go through next year's WSOP schedule and see what it will cost in order to play in every event you can conceivably play in.

For many players - even successful ones - floating that money 100% is a staggering thought. However, for someone with, say, random millions laying about, that person might realize X person is +EV in those events, so--

Backing ahoy.

It's not for everyone, but you can see how it could work for some.

Barron Vangor Toth
BarronVangorToth.com
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  #3  
Old 11-25-2005, 05:27 PM
sternroolz sternroolz is offline
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Default Re: Why do people need backers?

What Banger says is true. The massive amounts of money required make it difficult for even winning players to play.

HOWEVER, and this is quite an unpopular opinion here, most tournament players...even many so called "pros"....are not long term winning players. So they need backing because there is no way in the world they could finance their own entry fees.
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  #4  
Old 11-25-2005, 08:34 PM
Jorge10 Jorge10 is offline
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Default Re: Why do people need backers?

[ QUOTE ]
HOWEVER, and this is quite an unpopular opinion here, most tournament players...even many so called "pros"....are not long term winning players. So they need backing because there is no way in the world they could finance their own entry fees.

[/ QUOTE ]

I dont know about that, but I after reading El Diablo's thread about bustouts I guess the ones that need backing are gambling addicts that cant stop playing negative expectation games, such as craps, blackjack, etc.

Still it doesnt really answer why players that dont play those games need backing.

Maybe its general knowledge that everyone that is a big time tournament poker player plays those negative expectation games.
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  #5  
Old 11-25-2005, 08:56 PM
Ed Miller Ed Miller is offline
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Default Re: Why do people need backers?

1. The entry fees are high
2. The variance is extremely high
3. Lots of "pros" have a small edge, if they have any at all
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  #6  
Old 11-26-2005, 02:15 AM
chessforlife chessforlife is offline
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Default Re: Why do people need backers?

Personally I think if you need a backer, then you suck. Unless it's a very very big game.
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  #7  
Old 11-27-2005, 06:00 PM
sternroolz sternroolz is offline
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Default Re: Why do people need backers?

[ QUOTE ]

3. Lots of "pros" have a small edge, if they have any at all

[/ QUOTE ]

Thank you. I have no idea why people here resist the ideas that lots of so called pro's are either -ev or not +ev enough to overcome the juice + the variance.
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  #8  
Old 11-28-2005, 09:33 AM
Bjorn Bjorn is offline
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Default Re: Why do people need backers?

I would also like to add

4) The logistical costs can be quite high

I.e. even for players that have a substantial edge in a certain tournament that edge can be substantially reduced if to play in that tournament they need to pay airfare, hotel costs etc.

/Bjorn
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