Many people have asked me about selling action to this tournament and while I never have before, I'd be content only keeping 90% of 10million, so I'm selling 10% to the WSOP main this year. I'll cover all taxes myself and minimum chunk is 0.5%.

I've always wondered why less people sell for this tournament when the market is aware edges are large for good players and if your ROI is 10% higher than you sell for- you probably need like a 100million bankroll to not sell.

I'll be auctioning where everyone gets the same rate as the 10th highest percent(ie if A bids 1% for $250, B bids 5% for $1000, C bids $1600 for 10%, A gets 1% for 160, B gets 5% for 800, C gets 4% for 640).

Here is my hendon mob http://pokerdb.thehendonmob.com/player.php?a=r&n=96339

I've run really well for a really long time(that said my lifetime I've probably played 250-300 live MTTs which is still a somewhat meaningless sample).

That said I'm coming off of my 7th consecutive super high roller final table, and I'm top 10 on all player of the year races and the biggest winner at live MTTs this year yet the WSOP ME will only be my 28th MTT played this year.

I'll close off bidding July 1st to figure out payment.

Stars sent to Tîmex is ideal, but can figure out other payment options if need be

bid 1500 for 10%

ill take 10% for 1600

1800

bid 1690 for 10%

1890

Ho Le ***....

2100 for 10%

Private investor NF: 10% for 2400

500 for 2%

In before you get 10k for 10%!!

Gl

Can see this getting pretty epic


Edit: Can you BankofTimex yourself in this?

By covering taxes yourself do you mean if we have 10% and you cash for 100k then we get 10k and you pay the tax on the 100k for us?

You win at everything, but no way you surpass the $3,000 for 5% that I know someone sold at for this years ME

270 --> 1%

O_o

1% for 275

Correct

Right now as an example we have
1% Carl_lafong 275
1% Blopp 270
2% kcbj6 500
10% NF 2400

If no one else were to bid, they would get 1%, 1%, 2% and 6% respectively for $240 each.

All bids must exceed $240 but do not have to exceed $275. For instance if I received only one other bid of 3% for $750, they would get 3% of the action NF wanted for $720

2% 520

Non-related question, what's your status on the one drop?

$1450 for 10% or $800 for 5% I can pay you cash at RIO Vegas.
@GilbertBatista

An issue with this thread is how do we know these are all serious bids and not just either: (1) An attempt to drive up the market; or (2) Some random guy just messing around with no intent of actually buying and in effect driving up the market?

4 people with under 50 posts have put in for 1.5+ markup for all 10%. Two of them are over 1.8 markup and one of those is over a 2.0 markup. There is someone with less than 200 posts putting in at 2.5 markup for 2%.

All the accounts do seem to be at least a few years old and maybe they are somewhat well known in the marketplace and I am not aware, but just throwing it out there.


And, Timex, no offense, and I want to be clear that I am NOT accusing you of doing this, but now you have a "private investor" going to 2.4 markup for all 10%. Just throwing this out there also: How can anyone actually be sure that this is a real person who actually intends to pay it? How many people who sell in the marketplace could do this and you wouldn't blink an eye a bit and would just accept it?

Psychology of auctions can be insane even with mostly fairly above average logical/rational minds (poker players)

Actually doing this correctly seems as though it would be pretty complicated, or at least intricate, and a pain [edit: depending somewhat I guess on how many backers there are]

People are likely to have different marginal tax brackets.

And if the deal is that a backer receives additional money to cover their income taxes on their % of the winnings, then their income taxes also increase as they have to pay income tax on this additional received money, etc.

If you give them the extra money for the taxes and we classify it as a gift, then you could be getting into a gift tax issue.


If what you mean is that you will just pay taxes on the whole amount won as if it was all yours and still give everyone their percentage of the full amount won before deducting taxes, then this is certainly much much easier to do. It also is NOT the proper way to do it.





DISCLAIMER: THE ABOVE IS NOT AND IS NOT INTENDED TO BE LEGAL ADVICE AND SHOULD NOT BE CONSTRUED AS SUCH.

IRS Circular 230 Disclosure: Unless expressly stated otherwise, any U.S. tax advice contained in this communication (including any attachments) was not written and is not intended to be used, and cannot be used, for the purpose of (i) avoiding penalties imposed by the Internal Revenue Code or (ii) promoting, marketing, or recommending any transaction or matter addressed herein.

Not playing, the only buyins over 10k I've played in the states were the EPLs because they had massive overlay

1) You don't know. You don't really know in any auction that there is no collusive actions between the seller and potential buyers.

That said even if we assume I have 0 morals and only act out of self-interest(god knows why you'd be investing in the first place), it seems that trying to earn an extra few dollars of markup while risking a reputation I've built over a decade on a message board that allows you to see the IP addresses which various accounts have logged into doesn't seem like the best risk reward proposition for me.

2) Action has been cut off a few days before the main so that lower bids will replace higher phony bids.

I suppose they should have spent the last several years upping their post counts buying every losing grinder selling at 1.3 to up their marketplace credibility

That seems fair, he said he'll come post in the thread and other people who contact me on 2+2/fb will be sent to this thread from here on out