A lot of people win a satellite entry, then have the choice to play, sell it or stake somebody else to play. A WPT champion has offered to stake me for satellites then let him play, but my first post will be a simpler example. I won a $550 entry for Sunday then noticed an online tournament I want to play that same day. Please let me know if I am missing anything with my EV calculations below.

Option 1 - Sell:
A couple of people have inquired about buying the $550 certificate for a discount.
EV (sell for $500) = $500 cash.

Option 2 - Stake:
Somebody has offered to play my entry for 50/50, i.e., pay $275 cash and split 50% of any winnings. I don't think he has much HendonMob winnings but did chop a $300 tournament so he seems good enough to beat the $50 rake.
EV (50% cash + 50% of his tournament EV)
= $275 + 50 * ~$600
= ~$575

Option 3 - Sell & play online:
Let's say that my expected profit from staying home and buying into some <= $55 tournaments online on Sunday is +$35.
EV (Sell + expected profit of buying in online)
= $500 + $35
= $535

Option 4 - Play.
I chopped in the last $550 tournament I played this summer and have six figures in lifetime profit, so let's say my ROI is ~40%.
EV (Play - expenses of going to B&M casino)
= $550 * 1.4 - $5 gas
= $765
Even if my ROI for this tournament is as low as 10%, the playing option would still have the highest EV at $600.

So even though my first gut instinct was to sell the entry, I should go ahead and play even if I miss the online game I want to play. Did I miss anything with the EV analysis above? After some replies, I will post about the WPT champion's proposal.

Just an fyi, typical backing agreements involving selling 100% give the horse no more than 30% of the profits. Often the split is more like 80/20 in the backer's favor. 50/50 is a markup of 1.5 which is higher than all but the best players sell at. So ya know

In this case, the players don't have much bankroll yet and were willing to accept no markup. I'm buying 50% of their action at 50% of the cost with no markup.

If one of them establishes a profitable HendonMob track record and wants to be staked 100% at 80/20, I would need him to have an ROI of +25% to break even, correct? $1,000 buy-ins * 1.25 ROI * 80% share = $1K.

Oops, I forgot that 100% staking means the backer gets all the costs back before the horse gets any split. So for example, if I decide to use an extra satellite entry to back a player into a $970 + $130 buy-in with a 80/20 split, I just have to pick somebody who can at least beat the rake?