I've been backed for nearly 10 years in various tournaments, sometimes to the tune of 50k a year. During this time I've returned probably 200k to backers.

I've almost always done this through two plus two - and my experience is that backers AND horses are about 99% reliable. When backers say they are going to back, they produce the cash even if sometimes a little late. Likewise with horses.

This year, my main event package seemed to be selling slowly so I thought I'd check out YOUSTAKE. I registered and posted a package.

Although about 11% sold, I heard nothing from them. I went ahead and played assuming their policy was either to send me funds if I busted, or me to send them funds if I did well.

After a week, I contacted them saying (nicely) wtf... They said that they had emailed me a contract the day before (which I didn't get), and when I didn't turn it around (the day I was playing all day lol), they cancelled the stakes and returned the funds to backers.

They are adamant that they sent a contract - BUT even if they did, the day before someone plays a big event (or expecting them to read email while they are playing is bizarre). They apparently wanted to make a cash transfer which is weird also since one of the (ONLY) advantages a site like that might have is to facilitate transfers.

All in all, a pretty unprofessional bunch. I'm out nearly 1400, they refuse to discuss other than repeating what they said earlier.

I highly recommend that friends on here stay away from them. The "system" on here works just fine to be honest.

Paul

For whatever it's worth, I've been buying pieces here and there in this Marketplace for 4 years. I tried YOUSTAKE for a small investment and my experience was awful - communication awful, was not user-friendly at all. Not even a screen or final prompt telling you that if you press the button, you are committed to funding the investment.

Agree should be avoided.

Don't use youstake because its designed to be a total ripoff to investors has been my policy.

https://youstake.com/projects?PID=947

The real reason not to use YouStake.com is that the profit margins in the poker staking community are already slim (after rake, taxes, travel expenses, etc...). I would rather have those extra 5% end up in the hands of either players or investors rather than an intermediary.
Also, if you are an Investor and think that Youstake.com is going to pay you out of their pocket if a horse bails on a six (or seven) digit score - you are deeply mistaken.
Just stick to the trusted guys who are good players and avoid expensive gimmicks.

Not been active at staking community but first time seeing this huge mu in my life.

Nice read & points taken

only used it once for a 10 ball of my AZ state one year and yes they make you sign a contract and you have to hunt them down to get it.. they really dont do much for you and take some enormous vig..

Guys, google took me to this site. Thank you for the warnings! I think www.youstake.com looks great and I didn't expect things you described.

Is there anything I should know about www.pokermarket.com? It looks like they do not charge any fees and some big twitch streamers use it.

Kessler uses youstake..

need more reasons to AVOID it?

Selling 75% at 1.8...interesting strategy.

Laughable

Dont forget the 30% taxes straight off the top for Uncle Sam.

Ran into some idiot at the wsop with a youstake patch trying to angle every little thing. Snap told him the site was a scam and shut him up pretty quick.

Tournaments are very outdated and can't get anything listed and let alone talking to anyone or them replying back to emails


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Maybe they should spend less of their budget producing youtube videos and more on producing results!

Apparently they are making some improvements and they will have downtime beginning of November before they can push the new website. Let's see what happens.....


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I've been staked and staked others as well for almost 10 years. I've never run a stake without getting the money first unless I knew the person. I would never trust someone I've never worked with to pay me later. I would sell their shares to others if they didn't come online and pay me before tournament started. That said I have made exceptions. Like my 1st wsop-c event. Chris Tryba was paying me cash at event. I had known him for years and knew I could trust him. Same with sflnit who has backed me for the last couple years. I've been at tournaments and we decided to fire an extra bullet. I fronted money knowing he would pay back

Much like you wouldn't swap online funds with someone who just joined this site without making them ship first

ty for the post! Saw some of the ridiculous markup and thought it was too good to be true/ was puzzled how someone would buy action at mu as high as 2.0 in some cases. Staying away from youstake until they show some real credibility.

100% This

When they debuted I looked into buying a piece of a friend for a single 1500 and it was marked up to 3000. She was not sure how they came to that MU and was apologetic as she didnt realize it until it was too late.

Basically short story is thoroughly read everything before you provide your digital signature.

Any updates about the site in 2019?
If my stake wins how taxes are handled? Will they just withdraw 28%( would prefer that ) or issues 1099.
Anybody binked bigger piece ( 500$ or more ) and got paid?

crashing out 1700 , I'll let ya know

cashed out july 26th got check yesterday.

While I do not use Youstake.com, I am a big supporter of Youporn.com. I recommend you follow in my vein.

you sir are my hero