Very strange staking situation - MTT Community

**Bond18** · 06-02-2008, 01:55 PM

Perhaps some of you remember a post a few months back where a guy came on here and told about how he made a ton of money playing poker and staking then due to people screwing him, bad money management, and playing in too big of games spewed it all back and became busto.

It was a long post and people speculated who it was, and he mentioned that some people on the forum might know who he was.

That person was a friend of mine of about 4 years in Australia. He'd been a winning tournament player at low stakes online and w/e stakes live for sometime, and to help him out I arranged a stake (4500 coming from me, and 4500 coming from Bakes after I vouched for my friends quality) and told him whenever he wanted/needed help with his game to send me HH and I'd look over them.

For the first couple months of our arrangement everything went fine and he turned 9k into roughly 13k. We were operating on the standard 60 me (and bakes) 40 to him deal with make up.

Then one day all the money but $900 had been cashed out of the two accounts and he no longer returned emails. A mutual friend told me he'd ran off to Macau with the money and degen'd all the money away at the tables. I did a little investigating and it turns out he was in considerably worse shape financially than I'd originally though, being in debt to a number of people.

Now then, my last email told him he could either use the 900 dollars in the account to grind microstakes and make something of himself or just tell me what he'd done. He never replied.

Fast forward to this weekend, where I find out he's won the mansion 1k tournament for roughly $190,000. Now then, as his backer whom the relationship was never dissolved with, and in some manner of speaking he was using my money, to what am I entitled in this very odd situation?

Also, you're likely first question is "Well why do you think he'll pay you at all? Shouldn't you be happy to get what you can?"

The thing is, he cares about his reputation enough that with this windfall he'll probably want to restore his legitimacy as much as he can. Obviously I can't say for sure, as I never thought he'd steal the money the first time around, but my guess is it's over 95% likely I see at least the 13k he ran off with. However, to some degree I feel like our arrangement may entitle me to more.

I'm not sure though, your thoughts MTTc?

Chimp__greg · 06-02-2008, 02:12 PM

You're the one who enabled him to have money to play that tournament, no?

You and bakes are entitled to some portion of it more than your 13k, for sure.

uclabruinz · 06-02-2008, 02:14 PM

You are entitled to makeup plus 60% of remainder imo.

Chimp__greg · 06-02-2008, 02:14 PM

Also, his reputation can't be restored after what he's done to multiple people, if word ever gets out, and I'm sure it has or will be told, so I wouldn't be that confident in getting your money back. :-/

Bakes · 06-02-2008, 02:16 PM

i wish the other ****er that jacked my 25k would win 190k. My opinion is that we are definitely owed very significant interest on that money seeing as how its basically theft.

Tragichero · 06-02-2008, 02:19 PM

What you are entitled to and what you are going to get are unfortunately likely to be entirely different things. If you get your original stake back, or your 60 percent from the 13k he had ran it up to, I would consider this fortunate. If you get anything at all from his score I would be very thankful. This guy, despite what you said about him wanted to fix his reputation, doesn't seem like he would care about that too much. I would at the very best hope for the original stake back.

uclabruinz · 06-02-2008, 02:21 PM

How can anyone argue you guys are not entitled to $101k? That's a lot of friggin' money, and if I were you I would pursue it very aggressively.

redirkulous · 06-02-2008, 02:25 PM

Quote:

Originally Posted by Tragichero

What you are entitled to and what you are going to get are unfortunately likely to be entirely different things. If you get your original stake back, or your 60 percent from the 13k he had ran it up to, I would consider this fortunate. If you get anything at all from his score I would be very thankful. This guy, despite what you said about him wanted to fix his reputation, doesn't seem like he would care about that too much. I would at the very best hope for the original stake back.

So this guy runs off with 180k, and you're happy getting back your 13? lol. You guys are definitely entitled to a heavy, heavy interest

Matt24 · 06-02-2008, 02:26 PM

I'd think youre entitled to your share of the 190k...

Not the best idea to leave those amounts in horses accounts, I learned that lesson as well as when I was staking I was rarily around a computer so my horses usually had enough money to last a while which probably wasn't the best idea.

bakes-howd you get 25k jacked?

Chimp__greg · 06-02-2008, 02:33 PM

Quote:

Originally Posted by uclabruinz

How can anyone argue you guys are not entitled to $101k? That's a lot of friggin' money, and if I were you I would pursue it very aggressively.

Ya, this is how I see it.

GeoffRas22 · 06-02-2008, 02:34 PM

bakes should play him hu for rollz imo

zeuhl · 06-02-2008, 02:37 PM

I don't have a firm opinion on what you're entitled to, but you might want to consider:

- that it's unlikely he bought into that tournament with your stake

- what if he had simultaneous similar staking arrangements with other people?

- what if he was specifically staked for the tournament he won by someone else?

Kramer™ · 06-02-2008, 02:37 PM

you're definitely entitled to your 60% still (plus makeup). that being said, unless there is any sort of legal contract, which i would assume there isn't, then i think your chances of getting even a dime of that money is pretty bleak. he didn't return your calls/emails when he simply stole your 9K... why would we start responding when he stole your $100K?

LooseCaller · 06-02-2008, 02:41 PM

regardless of what you're entitled to, i think there is 0% chance of you getting 60%+makeup of that score, whereas, if this person was a friend of yours, there is a greater than 0% chance of you getting back all the money you gave him for the stake.

and as far as whether or not he is currently staked by you...if he lost all the money you gave him and then was never in contact with you, i dont think you can really conclude you should be paid any specific portion of this tournament score.

i think you have to look at it like you were robbed of 9k and there's no longer a staking agreement.

what you definitely are entitled to is all the money he stole from you plus some sort of interest on it for damages and whatnot.

RandALLin · 06-02-2008, 02:43 PM

If he wants any legitimacy restored at his he should pay what is owed with interest and that is all there is to it. Also, did you have some sort of written contract you can do something legally about or was it just verbal? If it was a verbal agreement idk how easy that is to get the money.