Hey guys, because of all the interest in my SCOOP thread on here, I've decided to do something similar for the WSOP. This package will include every WSOP event except the 50k 8-game (which I already sold shares for) and the 25k 6-max (which I will not be playing).
Here is a link to my SCOOP thread, which was a similar package to the one I'm going to be selling here:
Basically my plan is to play every event that I can. If I bust from one event I'll sign up for the next one. I may skip an event here and there but for example, I've played at least 30 events each of the last 3 years. My results haven't been very stellar in the WSOP as of yet, but obviously a sample size of less than 150 tournaments in my lifetime isn't all that significant. I would like to think that my SCOOP results show that I have the ability to do well in many varieties of higher stakes tourneys.
I am going to sell at 1.3-1 markup. The reason I'm marking this one higher than my SCOOP package is because there are way more soft events at WSOP than at SCOOP. I think this is an excellent deal for you guys.
Doing my quick math, I get the total buyins of events in this package adding up to $189k. Obviously there's no chance I'll play every event, so what I'm going to do is make the total package worth $153,846. When multiplied by the 1.3 markup, it makes the numbers work out evenly. If I somehow happen to lose more than $153k, I will cover the rest of the losses myself. You cannot lose more than your original investment. Even if I run really bad it's pretty unlikely that my buyins will add up to more than $153k anyway, so you most likely will get some money back at the end.
I'm going to sell in shares of 1/4%, and each 1/4% will sell for $500.
I'm also going to enact a rule saying that no person can buy more than 2% of my shares, because I want lots of people to have a chance to buy some. I'm going to call this rule the "Can't Take all my Shares" rule, or CTS rule for short. (Any similarities to the CTS rule and any person real or fictional is purely coincidental.)
So 1/4% for $500, 1/2% for $1k, 1% for 2k, 2% for 4k.
As for taxes, I'll only worry about that if I come out way ahead on the package. If I lose, break even, or just win a little, then I'll just ship everyone their share immediately. If i win a lot, I'll consult my CPA to figure out how to transfer the tax liability, but you will still all get your full share of the winnings.