placed 2nd in a small buy-in tournament
Just finished second in a $5.50 buyin tournament earning $291. I bought in twice. I was eliminated in a great spot the first time while I had a good chip lead, and in the specific spot where I was finally eliminated in number two by the chip lead I had literally 95% equity according to an equity odds calculator - I had qq and went all in on the turn when I could see he didn't have me beat. He called me with second pair (tens) which improved to an unlikely trips on the river. So I had a fair chance to go for first place as well.
If this had been under the backing arrangement, you would now have 85% * $291= $247. (And I would have played for 15% which is $43.65 under this arrangement.)
If I had enough backing to play at the weekly $50 buyin tourneys I want to play in, which are similar in skill level that would have been more like a $1000+ cash. So as far as I can tell you are losing money by not backing, the opportunity cost is high for you since these are very loose games and I am continuously learning and improving.
Unfortunately the variance is still a bit high for me to play in $50 buyin tournaments myself but every week I see that there is a lot of money out there and I would like to collect some of it. This is why I still seek backing to cash in on some of it, even though
I just withdrew $200. I am happy to play to earn you money, since the games are ridiculously soft and it is worth it for both of us.
As a reminder:
- I have a track record of finishing in 1st/2nd/3rd place and frequently in the money/collecting bounties
- I study Upswing and range charts
- I use allowed HUD software even though most players on the site I play at don't.
- I've completed about half of Daniel Negreanu's MasterClass course, which others have said allowed them to win multiple tournaments.
It isn't rocket science, just mathematics. Let me know if you'd like to make money by backing an above-average player in a very soft game weekly.