Update

On May 7th, a few hours ago, I won a $10,000 seat into the 2014 WSOP Main Event on "WSOP.com NJ"!!!!! I finished 1st out of 72 players in the weekly $25 Rebuy 1 Seat 7pm WSOP Main Event Satellite. It was a very tough final table, containing "itWasThatOr0", "Bigcakes1", "WilliamJLH", and "CRaFTe", four great NJ tournament regulars.

What does this mean?
Since I'm now freerolling the Main Event, I will now want a higher % of myself, because I feel it's destiny. I have not decided how much a % I am now going to sell. I will take a few days to celebrate this $10,000 win, and I will think it over. I will post my thoughts in a few days. As of right now, I think I will sell approx 65% and keep 35% for myself, but obviously I must think about it.

I was previously going to lock this thread, but with this new amazing development, I think it will be best to keep this thread open, so that I can easily communicate with my investors.

Anyways, I had already booked my flight and rooms last week. I will be flying to Vegas on Sunday July 6th, and I will be playing Day 1c on July 7th. This remains the same, and I will be posting my flight and room receipt pics, as we approach July.

I won this tournament on May 7th, exactly two months before Day 1C on July 7th. This tournament had 72 entrants, and I'm Brilliant"27". The numbers are starting to get eerie lol. All signs point to 2014 as my year, and I am so excited for the Main Event. Going to be a great two months preparationwise. Stay tuned for future announcements and Thank you all!

Congrats on your seat! Tougher FT. Still want 2%!

Tyty. Your 2% still there, as you were one of the first investors. 8am and I'm still up, can't sleep lol

highly unlikely now after you won your seat - congrats - but if anything comes available i will take it up to 10%.

Congrats on the seat!

Well done and GL !!

The bad news is that you better get out from behind the monitor and wipe the dust off of your live game.

The good news is that it will open up some money spots for people like me while you're doing that.

Job well done sir!!

one percent if possible

Thx, I got you down as 10% alternate but you are far down on the alternate list and I highly doubt it will get to you . But thx and I have you marked down,

Ty sir

Ty sir

hehe true, I'm thinking of playing minumum one, but probably two Borgata Summer Open Events to get some practice in before the Main Event in July.

Ty sir

Thx, I marked you down as a 1% alternate, but you are very far down on the alternate list, and it surely wont reach this far on the alternate list

Good for you. Best way to shut people up is the way you did it. Keep it professional and backers will follow. GL in the main.

Tyty sir. I am still tryin to figure out how much I am going to sell, now that I've won a seat, and will update this thread by mid next week.....

Don't forget to learn how to post pics. Want to see some in the thread of you with a big stack in front. Also, would like to see some of Jennifer Tilly... again with a big stack - ;-)

Unless stated specifically in the op, it's not fair to investors to decide to sell less (after selling out). It's also not fair when people reserve a piece and then back out last second when other buyers were ready to purchase but ended up spending $ elsewhere and now can't buy available shares.

On this topic,

1) It's not fair to those that bought that otherwise would've spent the $ investing in another player but had already spent there allotted $

2) When purchasing shares like this, an investor is buying pieces of a player whether they're in a good situation or bad at the time the tournament is played. They don't get to pick and choose prior to the start of the tournament whether or not they want to invest in the player that they already bought the piece of. They already bought it. They're locked in. The player shouldn't have the option the buyers don't have. If this clause was stated in the op, then it wouldn't apply. I don't like this clause, but at least when it's stated the buyers know that up front.

Cliffs. I think you shouldn't take anymore of your action since it was sold out in good faith that buyers were assured they had said action

not sure what the rules are here. but i would guess nothings final until money is sent.

i dont mind a guy changing his mind about what % as long as the people that responded first get first chance at the new %.

im booked for 1% but to hit your possible new %'s maybe half mine (and everyone that got in on the initial sale) and book me @ 0.5 %?

Haha yea ill learn how to post pics on twoplustwo sometime before the main starts, this way I can post my flight email, my room email, my 10k main event table slip, and my monstrous stacks of chips!!! Also pics of Tilly for you lol.


Yea I see what you are saying, and this is why it’s taking me two weeks to make a definitive post in this thread, ever since I won a $10,000 seat. I have been consulting with several people, as to what I should do, now that I have the seat won. And there are mixed opinions. Some people think it is not right to shut people out. Others say it is standard, given the change in circumstances. I would like to add an additional 15% to my own investment, up from the 20% originally planned. But by doing that, I would obviously have to cut off some people at the bottom of the chronological list of investors. And I don’t want anyone to be mad or upset, so idk what to do. My question is, what is the standard for this type of situation???????
Does anyone who is experienced with staking, know what the standard is here??????
Since no money has been exchanged yet, and no letters have been mailed to each investor, and since only reservations were made up to this point, do I have the option to cutoff some people, in reverse chronological order, since I now want a higher percentage of myself, due to me having won a main event seat.

I mean I just want to do what is standard, given the situation. It’s not the end of the world if I have to keep the original 20% and sell the 80% to the list of investors that I have. That would mean that I make $8,000 and get 20% of myself for free in the main event. That’s definitely not a bad scenario at all. That being said, I still would like to up my % to 35% given that I effectively added $10,000 to my bankroll by means of the win on May 7th.

Anyways, we have plenty of time, time is on our side, before the main starts on July 5th. WSOP contacted me today about my seat, and I locked in Day 1c, which is Monday July 7th. Once we figure out what the standard is for this situation, then I will get all my investors names, prepare my letters, get them notarized, accept payments, and send each personalized letter. We have all of June to do this. I’m extremely organized, and have nothing to do in June, except play 600 tournaments online and get all of this prepared.

So if anyone can express their thoughts on this situation, it is much appreciated. What is standard in this situation?




Thx, yea lets see what the standard is first, this is always another possibility

Ty!

Hey mate,

Don't have anything invested in this or have any biased opinions from previous knowledge of you. But in MY opinion if you do up your % and cut out any potential backers (who have only reserved) I think that is totally unfair. You put up the package with the intention of selling a % of yourself in the tournament. That tournament hasn't changed just your position of how you got into the tournament. I think this situation can arise more times than posted on here but if it had happened to me I would take the seat as a free roll. You will be essentially making 8k on this deal without doing anything. Previously for you to have profited 8k on this staking arrangement you would've had to cash for 40k (1/5 or 20%). I think for future references and as you said you will be likely playing the 2015 WSOP ME also selling with m/u it wouldn't be wise to rob people of %'s they reserved in you.

Sorry for the big post, but just felt the need to offer my advice.

Good luck op.

I think the better solution would be to add a few smaller tournaments if your schedule permits instead of dropping out the bottom 15%. Since you have pledged backing for $8,000 and you now want 35% of yourself you only need to add about $2,300 worth of tournaments to make it work. For example, you could do the main, mini-one drop for $1,111, as well an Aria main $565x2 bullets. This brings you to just under $12,300.

I don't think many people will be opposed to diluting their portion slightly to accommodate the others...and if they do, at least they can voluntarily drop out.

Agree


Sent from my SGH-M919 using 2+2 Forums

I think cutting off investors of the last %s is bad taste. If anything pro rate everyone's percentage to the new amount you want to sell.

Get in touch with your investors and see how they feel about the whole situation. Gl.

Adding $2300 worth of tournaments at no mark up is a good way. Just need to find some good deep structure tournaments. I am fine with it.

that would be cool. more action to sweat.

Thank you to the above posters Mattyk1992, Fear The Spear, mdroz247, XYTexas, and okterrific for your thoughts on the situation. After taking these things into consideration, I have decided that I will not cutoff any investors.
I do not want to add any other tournaments, because I do not want to make separate trips to Vegas. I just want to go play this one tournament this year, the 2014 WSOP $10,000 Main Event. A lot of the NJ tournament pros will be traveling to Vegas in June, which means that I’ll have all the fish to myself in NJ . I plan to make alott of money online in June, with the soft fields, and the massive overlays, so I want to play hard for 25 days in June, and not spend any time in Vegas, playing other tournaments. Next summer, I will play more Vegas WSOP events, but this year, I want to play one tournament only.

That being said, a few people lessened their percentages, so I was able to pick up a few extra %. Below is the new official list. Note that everyone who originally invested, is on the list, with the exact amount that they want. I will be adding myself as 1st alternate, and if anyone drops out, I will be able to pick up some extra %s.
I will be contacting all my investors within the next few days, to get everyone’s name, for my documents, that I will be preparing. Those investors with a 2+2 account will be getting a private message from me. Those investors who are not on 2+2, will be receiving a text from me. Once I get these documents prepared and notarized, then payments will start. That will be in June. Anyways thanks and stay tuned……



Me: 24%
Raradevils: 10%
Non 2+2 Investor Jeff: 5%
Non 2+2 Investor Brian T: 2.5%
Non 2+2 Investor Nicky V: 2.5%
Non 2+2 Investor David H: 2%
Non 2+2 Investor Angela M: 2%
Non 2+2 Investor Lou S: 1%
Non 2+2 Investor Kyle M: 1%
PartyPokerNJ Player PlantLeaf: 5%
Non 2+2 Investor MYoung 2%
Non 2+2 Investor SA16: 3%
Non 2+2 Investor Christopher S: 1%
Non 2+2 Investor Brandon G: 1%
GrimeRat420: 1%
rolledup22: 2%
The Tank: 1%
fnord_too: 2%
Bidz: 2%
aislephive: 1%
jay_got_JJs: 1%
BallPeenHammer: 2%
DopeyMcDope: 2%
wowkAA: 4%
SwingVelvet: 1%
Non 2+2 Member Borgata Mike: 2%
chang118: 1%
okterrific: 1%
jakaseti: 1%
XYtexas: 1%
acdawg712: 1%
p2ryan: 2%
jlozan84: 1%
Revots33: 1%
Non 2+2 Member Accounting Mike: 2%
Non 2+2 Member Roe: 2%
Non 2+2 Member Cody: 3%.
TingAling: 1%
Alternates:
1) Me 11%
2) Dave T 1%
3) Carl_LaFong 1%
4) TaddidVonBaddis 1%
5) VIllian1 2%
6) MightyRedwud 2%
7) jgallardo 3%
8) FromACtoLV 2%
9) Royal17 2%
10) SYLAER 10%
11) Atlantis1 1%

Nicely handled Brilliant. Gl!