Quote:
Originally Posted by JasonP530
I am anti staking for the most part, so take this for what its worth.
There are a few inherent flaws in your logic:
1. You could be a winning player and yet not be profitable in this tournament and that doesn't mean you should quit and get a job(doubt thats the case though, but the decision isnt binary).
2. From the investors side, you could be profitable but not profitable enough to overcome markup.
3. You might be better off at home playing MTT's online or playing cash than by entering in this tournament where you have a smaller piece of yourself in a tougher field than in a 1k or 500 where you have all of yourself in a weaker field. No, there won't be as big a pile of money at the end or a lot of glory if you run well(which may be worth something to you aside from $$).
4. Obviously the travel cost and expense of going to Borgata instead of playing home eats into your ROI.
All that said, you are good and are probably +EV from the limited times we have played online, so good luck and run well!
First of all, just want to thank you for being respectful with this post. I have no problem with people who disagree with me or who flat out think I'm wrong, as long as they portray their views respectfully. That being said, I don't think any of what you said is off base at all here. I'll address each point though.
1) I realized it as I was typing it that I didn't really portray what I actually meant. I was sort of alluding to the fact that if I didn't think I was a winning player overall then I wouldn't play professionally anymore, but in the thread I stated it like I'd quit if I wasn't a winner in this $2700.
2) From a purely selfish perspective, I shouldn't care about whether or not it's profitable to buy from the investors' standpoint. That being said, I feel like it's unethical to sell wildly higher than what I think I am worth. I know a lot of pros disagree with me on this one ("you're worth whatever you can sell") but I don't feel right selling something that I think is not worth it.
3 and 4) I think in the back of my mind the thing that always has been incredibly appealing to me about poker is the high ceiling of it all. Are you likely to become rich from it? Hell no. Is it possible? Yes. So then, why am I selling such a big % of myself here rather than just finding the smaller buy ins where I'd have just as much money invested but a bigger piece? Well I feel I need to start experiencing playing these tournaments. I don't want my first try in these things to be incredibly stressful where I have a ton of money on it myself and feel uncomfortable. Competition will undoubtedly be tougher but I think it's something I need to experience. I also don't think it's fair for me to just write myself off as not being profitable in these things. I think I understand a lot of dynamics that many of my peers grinding online do not and it's just going to take the experience of seeing stuff people do live to get used to it.
Quote:
Originally Posted by TheTyman9
Are people who are anti staking also anti business loans, anti investing in the stock market, etc? For points 1+2, sure that's true, but that's where you need to look at what you know and then make a decision after analyzing that info. Just like any other investment. No investment is a sure thing and the sharper someone is in determining edges the more money they will make. Point 3+4 is definitely true. OP should of course be looking at his expected edge in this tournament, what % he has, and what his extra costs are and then comparing it to his expected hourly online and making a decision. That has nothing to do with being pro staking or anti staking though, it's just a matter of making the best business decision for yourself.
I've just never seen anyone express good reasons for why staking or selling pieces is inherently bad. Both player and investor need to look at the numbers and the situation and determine what makes sense for them. It can make a ton of sense for both the player and the person buying pieces.
The reasons I've heard that staking can be bad is when people are essentially living off mark up. They play break even or slightly losing poker but charge very high mark up (which they clearly aren't worth since they're playing break even poker) and are able to stay in action because of it. Then all they need to do is have some decent scores from time to time and since tracking sites show cashes and not profit they get to boast about their 500K in earnings despite not being a winner.
That being said, if you're not great at poker but you're trying to make it in the game, I guess you need to do whatever you can to remain in action. I don't really know how I feel about all of that. I just know that I'll generally sell as high as I feel is ethical and realistic in my mind, and clearly the ultimate goal is to someday be able to take all of my own action in these live tourneys. But until I have a $270K bankroll I'm not own diming this tournament.