Quote:
Originally Posted by Chuck Bass
Hey Zima,
I have been offered a staking deal by a high stakes player who has confidence in me and knows me personally (so no trust issues). We can work out everything else by ourselves, but we're only struggling on one question.
I've played MTTs professionally since december '09 (cash games professionally since '08) and during these 4 months I've played thousands of MTTs and am up about 23k at the ABI of $22, in other words a little over 1000 buy-ins in 4 months. I haven't gone broke or anything, I was offered this and didn't ask, and would like to use this just to move up in stakes faster. I've had to withdraw a lot for expenses I'd rather not discuss here, so despite my success I don't have anywhere close to 23k in my pocket.
How should we split the profits? Basically I would withdraw my whole roll and play entirely under his money. The stake he'd provide me would be about 15k and I'd be playing with the ABI of $30-$40, so risk of ruin should be close to 0. I'm going to guarantee to pay back 100% of possible losses to him if I somehow manage to bust myself.
So, you are gonna pay back any loses that you incur. so this is basically a loan for you to get back on your feet, so to speak?
How should the winnings be divided? Don't ask me why I want to do this or how it's unfavorable, I'd just like to hear how the percentages should work out.
Thanks a lot!
If you really are gonna pay back all the loses, i dont see why you should have to give him very much of a cut. but, its kind of a weird deal for you to pay back loses and i really dont have much experience in structuring a deal with that clause in it.
i would say given what you said in your post, the deal should be something around 70/30 in your favor (maybe 75/25ish).
again, i have no real experience with a deal like that, and those numbers are just pulled off the top of my head.
why dont you just enter into a "normal" staking deal. 50/50 with make-up and you dont have to repay loses and you can play all the same mtts that you normally play, and ask to mix in a few bigger buy ins.
i guess since you think you risk is "close to 0" you will never have to pay back that money cause you will never busto the 15k stake/loan. so you want more %'s.
gl