Yet you still paid for Drew to party in vegas after you became aware of the situation? And you let it go this long without him telling some of the smaller/2p2 investors that all the stake money was punted?

FWIW I also agree that you should not be held accountable for Drew's actions but you decided to come in here and defend him and that puts you on the hook to answer some tough questions.

Had you made a post similar to Gardy nobody would be upset with you but you couldn't honestly have expected to say "don't worry dudes, he will pay you back" and everyone to just accept that and move on until a cheque showed up at there door

Arthur wanted me to go out, ask anyone we were with, I always said I couldn't go out because I had no money. Every time someone said they would pay for me to go out.
Arthur had me talk to everyone. I tried to do it all in person but it just didn't work out.

I don't understand how you be entitled to receive money back for events that he played (and didn't cash). That doesn't really make sense.

Did you? Or did you discuss it with people who found out about it leave it with people who hadn't yet found out


Sending a PM takes two seconds. Not acceptable that you didn't make everyone aware within a few hours,


You don't get the luxury to not respond. Bring your laptop with you and deal with this. Don't give half truths and tell people to trust you. They have no reason to trust you. Right now your number one priority should be rebuilding that trust and doing it ASAP.

At this point all investors can ask for is communication and that seems to be all they are asking for in the immediate future.

Man up and deal with your screw up.

If Arthur told you to tell everyone about roll being lost, and paid for you to go out as a friend under the impression that you had been in contact with everyone who had a piece then I'm sorry for calling him out.

It's still absurd he was doing this but I can't really hold it against him thatttt much.

I'd really appreciate if you tried to be more specific in this timeline.

"Once I realized I was using investors money to play" [OFC]... well how quickly did you realize this? after dipping into the first dollar not belonging to you? after losing a few thousand of investors' money?

Then you moved down in stakes to play 2/5 but kept losing... So you lost most of the investors' money playing 2/5? How much investor money did you lose playing 2/5? Make a numerical estimate please.

2-3 weeks left in the series is when you quit. You said you saved the rest of the money you had? Where is that money now? Where did that money go?

Ok, so you're basically saying you can't provide a deadline on when the debt will be paid back. Well try answering the questions below one at a time and help us determine the reasonable timeline.

2a) What stakes are you playing in your backing agreement?

2b) What is the amount you and Arthur have agreed to settle up on?

2c) What is considered "the majority of the money you win"?

2d) Who is going to disperse that money, you or Arthur?

2e) How much volume do you plan on playing in this backing arrangement and how quickly do you plan on starting?

2f) Last but not least, what happens if you aren't a winner in the games you're being backed for (we can even assume you are a winning and you run absolutely terribly) and don't make money in this backing arrangement? Is your plan B working part time with your mother? Are there any other options to consistently making $?

I'm asking all these questions separately one at a time to help figure out a timeline for being paid back so please don't lump all the questions into one muddied response.

yes, good list of questions, OP has a responsibility to answer each one

nice

2a. I'm playing in 5/10 and 10/25 regularly. Sometime I play 25/50 depending on the game runner if I am invited or not.
2b. We haven't talked about this yet. He might lower it so I can get some people paid back. Have to discuss this with him before I start playing again.
2c. Going to be giving back 85-90% of the money back to investors. I need to hold a little bit for bills and to live. Then I'll be giving back the rest.
2d. I will be giving back the money. I haven't figured out who is getting paid first, but I'm assuming someone has a good idea for this.
2e. I know for sure that I'm playing 4 days a week. Depending what games I can get into, it could be up to 6 days a week
2f. I've been being backed in the games since the beginning of the year. I've been a consistent winner in theses games for the months leading to the wsop.

Thank you for answering the questions for 2. Still looking for more explanation for 1, but the post above is appreciated by investors I'm sure.

You should pay back everyone in proportion of the share they had with how much you have to pay back at the time.

Increases the bookkeeping but doing it any other way is going to make someone feel like they're getting screwed and your playing favorites.

Not involved but I agree with this method.

Agree with this. So, for simplicity's sake, you have 20 1% investors and 10 5% investors, you would treat it just like a tourney cash, divide into 70 'shares' (20x1 + 10x5), and all 1% investors would get 1 share and 5% get 5 shares.

This was not an interest free loan. Investors are owed the money now. $571 today is not the same amount of $$ as $571 18 months from now.

I appreciate the finance lesson, but that sounds like an entirely different point than you made in the previous post. You could have simply stated that the investors deserve interest in addition to the principal owed.

Who is staking you for up to live 25/50, but unwilling to put you in WSOP 1500s?

So I'm not the only one that can't wrap my head around OP playing 10/25 and 25/50? Hopefully someone with more brain power than me can explain how this is possible.

in my opinion investors should get back the events he played and did not cash( and then some) simply because he punted them off with ATC UTG

not involved in this but cant hold my tongue knowing that there's people out there that can't get stake at all and they are high level quality players and trustworthy players. then this guy can just toss way everything like no big deal when he's lucky enough to have people invest in hInc.

a mod should change the thread title to something more appropriate imo.

I could be wrong but I thought in the gambling world if somebody vouches for somebody before investments basically securing those investments hes responsible for paying back when the guy punts off and steals the funds?

I know in the world of sports betting you better be ready to do this if you vouch. otherwise say goodbye to your kneecaps.


the young degen excuse that I made a mistake got old with Brad booth.

I'm sure the stuff was happening before BB but it almost seems like ever since that s****** did what he did everybody just assumes they can take peoples money be on a giant degen freeroll in,other games and out right spending it. Then have no accountability or responsibility for there actions whether it be physically or financially.

first thought that went through my mind...

So AR is putting you in live 25/50 yet you guys can't find a way to immediately pay back what? 1650$? that the 2p2 investors are owed? Like first session buy in 170bbs deep instead of 200 and put it double on your number?

The part that is really concerning is the hold on to a little bit for bills and to live, do you expect the people you INTENTIONALLY STOLE from to giaf? If this was a dispute between friends that would be different, this is strangers who don't know you and have been stolen from, why should they show patience?

It would be up to the backer to make sure he picks a horse that wouldn't do this.

It is becoming more obvious every day that backing is a tough business. Horses quit poker, horses steal, horses can't beat the games they once were able to, horses get buried and have no incentive to play well, or play at all. Backers really need to take time and think about who they choose to stake. Unfortunately most just fire money away aimlessly.

If the horse is chip dumping or in some other way benefiting financially from playing terrible then the backer should be compensated. If you pick someone to stake who is going to screw you over then you should probably rethink how you are investing your money.

Touche

Can you answer question 2F, this isn't an answer.

Can people stop trolling on the one random hand that's been in question for the last three pages of this thread? At this point (as an investor) it's completely irrelevant. Just need posts from OP and/or backer on planning to pay ppl back. Needling the dude about god knows what table dynamics in one specific spot isn't helping anyone at this point.

Agreed.

Here we go again.
The fringe element loves to come in and jump on these guys and argue moot points.
10 posts deleted.
If you don't have an interest please stay out.