I had posted this in the MTT community thread, but that did not seem to be the correct forum.
I found some other threads about staking, but they do not seem to address selling a percentage of a player for a single/one-time tournament.
If you guys have any feedback for me, that would be most appreciated. Thank you in advance.
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A friend is planning to play in a tournament (in a few weeks) with a total buy-in cost of $350.
He is suggesting that I pay $175 for 40%. That's paying for half of the cost for less than half of the (possible) return.
Is that a typical agreement for a percentage of his action?
[I presume that he means 40% of the profit. Or perhaps it's 40% of whatever he walks with at the end of the tournament. I shall clarify.]
I originally thought it would be 50% of the fee for 50% of the winnings. But I can see reasons for not having the percentage sold equal the percentage return.
-- The player has to do the work. The player has to pay associated costs with being at the tourney.
-- But the backer has to take a chance of a complete loss. And the backer does not get to play.
Any thoughts about this offer?
Thank you for your feedback.