Ok thanks. Since I am Canadian I do not have to pay taxes on gambling winnings...so if I have people buying shares from me who are from the USA or UK and I go on to win a good chunk of money..what is my next step? Getting the money to them is not the problem but I think someone mentioned some forms for my buyers tax purposes?

ask an accountant

actually since you are a canadian there are 30% of your winnings withold for taxing purposes.
At least that is what all other canadions are stating here.

Doesn't sound right to me, I have been told by a lot of people that we don't get taxed unless they know you are a consistent winning pro that is using poker as your main income or something..I'll check it out.

Yeah, after talking with many Candian players it seems you are wrong, no money is witheld

How much posts i need to open new thread here?

found it in the sticky

As someone who just started buying pieces in Marketplace a couple months ago and probably bought 20k+ for the series, just want to post a couple things that are superrrrrrrrrr annoying to investors.....

1. Lack of updates. There are several people I bought pieces of that are absolutely horrendous at updating Twitter, their thread, etc about what tournaments they have played, results, etc. It may just be that they are lazy but it comes off as super shady when you don't hear from someone for a week when they were supposed to have played 3 tourneys in between. If you are in the position that you have to sell pieces to play tourneys then it is YOUR responsibility to keep investors informed. We shouldn't have to hunt you down to figure out if you played your last 3 tourneys on your schedule. My honest opinion (and honestly I have no clue if this is possible from a Mod perspective) is that if someone posted a package and failed to do updates SOMEWHERE regularly, they shouldn't be allowed to post packages anymore. Sorry but you know what, most of the packages here are sold only because there are about 20 people doing a ton of spending. I would say pretty much all of us are in Vegas ourselves and it shouldn't be work to find out what is happening with our money. For someone to not make a Twitter account and post updates at the very least every break just seems ludicrous to me.

2. Treating OUR money like it is YOUR money. You sell packages with specific tournaments. We buy packages looking at the EV of the person selling in those tournaments. I have had people in several packages I have bought, actually change the package mid series. Some of those people have asked if anyone had objections which is fine but not at all of us check 2+2 very often while we are playing a ton live (surely it isn't that hard to PM all investors when something comes up?). I had at least one person cancel 4 smaller tournaments to play a bigger one. I got a PM not ASKING if it was okay with me but rather, telling me that was what he was doing. I mean, really?

I for one will be making a note on my spreadsheet for each person on how they were on both of these issues. I feel like it would definitely be appropriate to post in their future packages if they failed on either of these 2 items but I could be biased based on my irritation with these people. If anyone has an opinion on that I would like to hear it. The fact is, the better the experience for the buyers, the better this forum will be. Personally, I would rather buy someone that updates a ton and makes sure to run any possible issues by investors and bricks everything than someone who never updates on anything and pretty much just treats investors like they don't exist and min cashes a few events.

Edit: FTR, I do realize that things happen so changes in packages happen but I think what has annoyed me is people skipping things like 1ks where EV is huge and then making it up with something else that has nowhere near the same EV.

yeah i agree that while a lot of people do a great job with the updates and handle things in a very professional manner, there are quite a few who are kind of annoying with this. i mean literally it takes a minute or 2 out of each day to do a quick twitter/blog/thread update on how you are doing, and that's all the investors are asking for really.

When people sell shares..does anyone ever state that they will remove markup if they cash?

no

This 100 times over.

Stakees, I need to know at the end of every day (or the next morning, if you went deep lol) what tournament you played, and when you busted. In particular, if you miss a tournament for some reason, you need to tell us right away, so I'm not searching the updates for your name. If you cashed, I want to know for how much. After this series I'm seriously downgrading any package where horses haven't shown the ability to do this.

I love the twitter updates every level or interesting hand, but these aren't absolutely necessary.

As far as McNitterson's other point (not changing which tournament you're playing), I agree, but my horses so far haven't had any real issues here.

Does anyone know what is standard for sharing out sponsorship income from reaching the t.v or final table let's say on a 75%/25% live MTT single deal? I know Sheets/Bax ask for some of it but I don't know the proportions.

1) is it too late to attempt to sell action for the wsop main event?
2) as a winning ssnl player, would it be possible to sell action at a markup?

thank you

My screen name on tilt is feezable. I qualified for a me seat on tilt. I am looking for someone to take my entire action for the me. We can work out numbers plus if I cashed I would also split the freeroll I get for next year for cashing in the me event this year. I played in five wsop events this year and cashed in two. One was the $2500 plo and a $1k. Here are my stats, email me if you have any questions. I pulled back from playing at the last minute because my backer has decided to not back any players this year for main event. I have made over a $125k mtt in four months. Let me know if you have a questions. The graphs are very amateur but having trouble. I think my roi is around 90% with high volume.
feezable feezable plays online poker at Full Tilt Poker


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Where can I find a staking contract if I want to put someone into a single tournament like the Main Event? So far I have only found contracts for long term arrangements which contains a number of things I don't need / are wrong.

make one up...?

I have scanned this whole thread ctrl+fing for any post that mentioned taxes but I am still unclear on a lot of the details and hope someone can provide some insight

Namely, how does it all work O_o

Do all casinos withhold for taxes over a certain amount or do they leave that all up to the player? Specially I am thinking of mohegan sun.

If the irs sees that I cashed for say, 50k, will they not tax me for that amount if I provide proof that a lot of the profit was paid out to others as well?

Just wanna say again that people who are not updating investors at a minimum of daily for WSOP/live events really suck and should be chastised and this should be noted when they attempt to sell action in the future. It is truly baffling that anyone refuses to use twitter to do updates.

It is not hard at all to type a few sentences every few hours to update the people who have invested thousands of dollars in you and enabled you to play high stakes tournaments. I am one of the laziest and most irresponsible people that I know and I updated my twitter at literally every single break throughout the entire summer.

I know that I personally would never buy action from someone who doesn't update frequently and I would urge others to do the same...

I agree with you JP, it baffles me too when people just do not bother to post updates. Forget twitter I would just be happy if the horses posted in their threads at the end of the day or something. Proper communication with backers is such an important aspect of the staking deals.

After the stake has run its due course, I tend to make notes in my excel sheet that I maintain for all my investments. I have set aside a remarks field where I make notes about how the entire stake went. The point is to use these remarks in the future to help you make a decision to purchase or not.

There is another spectrum of players(very small number) that skip events and expect the investors to understand them once they post after the event date is over. It happened with two of the guys I bought shares from this year for the grand daddy of them all--read WSOP ME--. Just ridiculous whatever maybe the reasons. Oh yeah did I mention that they blew off the money and want to make amends now!!

This has nothing to do with the topic. I'm trying to get staked for Mtt's and when i go to access the staking thread and post it says im not allowed to post for 2 reasons which make no sense to me. Anyone know whats going on here? and yes i have been a member for over 6 months

you have to also specifically request you be allowed through your control panel. which then takes up to 2 days.

I think after this WSOP I've decided that references that are solely comprised of successful swaps and trades aren't sufficient enough.

yeah, i'll probly never again buy action of someone that i don't know personally tbh

I think it would be nice if somebody has the time to do a thread with all the people who sold shares for this WSOP and their results (as well as any other situations that arose), for future references.