Hey,

I am just looking to get some opinions on this conversation.

[9/2/2012 2:59:58 PM] Staker: so i will ship u $200 starting stake and u will play up to $11 MTTs ok?
[9/2/2012 3:00:28 PM]Staker: BUT, to start, concentrate on $2-$5 BIs to work the BR up ok?
[9/2/2012 3:00:48 PM] Me: ya thats cool
[9/2/2012 3:00:52 PM] Me: ok
[9/2/2012 3:01:36 PM] Staker: if ur ever in MU, u can play it to positive OR buy urself out of MU for 50% of the original stake ($200) ok?
[9/2/2012 3:01:45 PM] Me: ok
[9/2/2012 3:02:27 PM] Staker: stake starts today- 9/2/2012
[9/2/2012 3:07:53 PM] Staker: Stake deal has no min volume, so play when u feel good. I can end the stake at ANY time, weather ur negative or positive. So, does this sound good to you bro?
[9/2/2012 3:08:27 PM] Me: sounds good



Since this conversation, staker said he could no longer stake me. So the question is would I still be responsible to pay half the MU even though I didn't end the stake?

Technically no imo but if it was me he offered you a good deal and I would probably make at least a gesture.

:

[9/2/2012 3:07:53 PM] Staker: Stake deal has no min volume, so play when u feel good. I can end the stake at ANY time, weather ur negative or positive. So, does this sound good to you bro?
[9/2/2012 3:08:27 PM] Me: sounds good

Sounds like you both are very very inexperienced when it comes to this stuff. These are just awful terms if these are the only terms.

With the agreed upon stake, you technically do owe half of the make up. Think its crappy on the backers part but he sounds pretty clueless when it comes to staking

I was under the impression I would be able to play out of MU and only if I wanted to back out I owed half. Just didn't seem fair to me that if he ended it for personal reasons with barely any volume played. I assumed if he backed out he had to eat the MU loss, I thought this was a long term deal. Am I in the wrong on wanting to wait until the backer is able to put me in again?

"if ur ever in MU, u can play it to positive OR buy urself out of MU for 50%" , I chose to play it out but I can't have that option which isn't my fault, IMO.

no dont pay half if its his choice not to put u in

Why would you pay him, he ended it not you?

You dont owe half.


if he ends it, thats on him. he cant just expect you to pay half if he wants to end it. if you want to keep playing than you should be given the chance to grind out of it.

Def a shytty situation and it really can go both ways here imo. Not that it's fair but you did agree to his terms of him being able to end the stake at any time. Then again him ending the stake on a whim shouldn't be on you and you should be able to play out of MU.

You should have certainly asked more questions before getting started. You never want to just jump right into a staking arrangement, especially one that isn't particularly clear as seen here.

You don't owe. Don't think it's that close either.

its not close the more i look at it...

he says the horse can play it to positive, or buy himself out. you wanna keep playing, right? you dont wanna buy yourself out, right?

later on, backer said he can end it whenever he wants, whether positive or negative. i take this as meaning if the horse is up, and he wants to stop staking, he is allowed (obv). if horse is down, the backer can also stop staking as well (and industry standard is backer eats the MU).


OP, you dont owe anything.

Thanks for the input.

And yes, I would like to keep playing as the sample size was so small. I had agree'd to enter the deal because I thought it would be a longer term deal with replenishment options. As I thought I fully held up my end of the deal (other than winning). And essentially I feel that if he backs out and assumes I owe 50% of the stake back, he would have been pretty much freerolling 50% of my action with no Mark-Up or getting a swap in return.

+1 on you not owing him anything. I'd also not suggest "contracts" over skype. Having a professional backer is hugely +EV for a number of reasons.