Dear staking subforum regs, please help me, a SSPLO poster, understand the sense of staking or its use for the poker ecosystem. I know you won't like this, but I think if it's +EV for backers, it should be -EV for someone else - likely for players, as all losses can be easily dumped by rooms onto their defenceless shoulders. Please check my sanity, correct me wherever I err.
My thoughts are a response to the recent discussion in SSPLO BBV (click the link in the quote to trace it back if necessary).
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Originally Posted by GoGetaRealJob
I guess I could write something staking-related and revive the digest.
I'm sure no one would object
. I for one can't understand this business even upon reading Chapter 25 of 'The Mathematics of Poker' discussing it.
From a selfish viewpoint, I'm glad that staking exists because it shifts liquidity to the midstakes, spoiling fish-reg ratios there and making them better at the micros
, but poker rooms aren't glad because at the micros deposit-to-rake conversion is better, they prefer the same regs to play more tables lower (well, not too many, but they def-ly prefer a reg to 9-table PLO50 with hotkeys than to 4-table PLO400 lazily). It's not accidental that Stars' and 888's success is based mostly on the boost in their microlimit traffic; Party also removed the nosebleeds for a reason.
I don't think that e.g. the ban of P2P transfers on Merge was a random unreasonable move. It should work better than implicit bans of winning players that occur on iPoker from time to time because it's more honest formally and hits specifically stakees and backers that tossed all the same funds back and forward inside stables instead of genuine deposits out of players' life savings that can be spewed on non-poker things like strippers when staked.
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But to put it simply:
-u should get a stake if ur not properly rolled
Imho most people in the first and second worlds are properly rolled, they just ache to play too high stakes too early. I've already been bashed for this opinion, but it was in the context of the nosebleeds, where games run poorly and fish is sporadic. It's different at the micros where lots of fishy tables are yet available every day.
A reg with a family usually has a real job or an ability to get it, thus life expenses don't eat into his roll that much. A roll of a reg with neither a family nor a job is eaten by expenses, but he's totally free to cut them by finding a roommate or even a grindhouse, becoming a teetotal vegetarian, etc. (I feel pity for many regs who have fallen into the trap of alcoholism slaughtering their winrate). I don't believe that regs of either type can't save up or win $5-10K within a year of straightedge life.
Some OT ramblings on the remainder of the quoted post:
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u might have enough to play PLO25, but can beat PLO100 over a solid sample.
To get a stake:
-u need to prove ur a winning player over a solid sample, preferably no less than 100k hands
I deem only ill relatives and other emergency cases as good excuses. A stake applicant who has played a lot but spewed his roll 'in sin' instead of naturally moving up likely has poor work ethic and it's more +EV for him to enhance it than to share profits with a backer, while it's -EV for a backer to stake such a player, as mentioned in the brilliant second post of this thread.
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-last but not least, u need solid references from reputable forum regs. Only an idiot would give money to someone simply based on a graph. Be active in the community, build up ur postcount and develop relationships with fellow grinders. Lurkers are not very likely to get staked.
I agree that financial reliability is key, and it correlates with the post and acquaintance count, as witnessed by the official P2P trading thread. Thanks for this paragraph! I'll use it next time when calling down a well-known Scottish affiliate company
that practise 'fast track staking' basing on 10K hands (they have unorthodox views on poker in general, e.g. embrace educating fish, whereas I think rooms should look for compromise improvements that please both fish and multitablers, like showing the player's best five-card hand).