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Old 05-28-2012, 02:16 PM   #1
GoldenBears
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GALEN HALL 2012 SUMMER SELLING

I arrive on June 9th

I RESERVE THE RIGHT TO CANCEL REMAINING ACTION AT ANY TIME FOR ANY REASON (i.e. if I win ~100k or my horses are breaking even or winning halfway through the series, and I'm reasonably assured of not freerolling myself on taxes. Please understand that this is a very real possibility)


Why I am Selling
I have decided to sell some action for the series. I have more than enough money to play everything on my own, but I am not sure if I will be playing poker next year, thus I really want to avoid a losing year since I can't carry losses forward against non-poker income and will essentially be freerolling myself with taxes if I lose big at the series, which would be lame.

I am somewhat conflicted, since I think my edge in these big field WSOP events is astronomically high, and I intend to swap a good bit for sweats and such so even selling 10-20% feels like I am sacrificing a ton of value. Thus, the markups are pretty high - tbh I think buying me at 1.6 or whatever is actually one of the better values in the marketplace.

If you disagree, that's fine, and I am kind of secretly hoping that I sell 0 shares and can keep all my action

I am selling 10-20% in most events, around 30% in larger stuff. I obviously would prefer not to sell for a bunch of the smaller events, but I included some %s in those so that people can have a sweat in everything.


Why I am worth buying
I started playing poker seriously in Jan 2010 and quickly moved from low to mid to winning at HSMTT within a year. After black friday I became a livepro and crushed that as well.

I've cashed for $3.6 million and haven't even played my 100th live poker tournament yet. I haven't played much poker the last year since I've been getting my MBA at Stanford, but out of the 12 tournaments or so that I managed to play, I went deep in the PCA main again and final table'd the 100k super high roller getting 3rd.

I have been staying involved, posting a lot in HSMTT and coaching, and I am just so absurdly excited to go grind and play poker again and have zero accumulated tilt and frustration and am completely fresh.






The Package
LINK TO SCHEDULE

One share would be about $591, but I am obviously going to be skipping a lot of events, due to overlap/day 2s, etc.

All the events in RED I am unlikely to play, but I included them just in case.

So, to make it easy, I'm gonna just charge $550 per share, and assume that the refund will be at least $38.

Minimum of 2 shares, I will be playing regardless of whether I sell any or not.

2 shares: $1,100
5 shares: $2,750
10 shares: $5,500
20 shares: $11,000

I can take paypal, BoA xfer, cash in Vegas on the 9th, or you can arrange to drop off cash with one of my friends who is already in town.

Last edited by GoldenBears; 05-28-2012 at 02:35 PM.
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Old 05-28-2012, 02:26 PM   #2
Cinarocket
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Re: GALEN HALL 2012 SUMMER SELLING

in b4 bitches complain about markup
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Old 05-28-2012, 02:42 PM   #3
Scansion
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Re: GALEN HALL 2012 SUMMER SELLING

2%, cash in Vegas.
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Old 05-28-2012, 02:43 PM   #4
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Re: GALEN HALL 2012 SUMMER SELLING

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2%, cash in Vegas.
2 shares that is.*
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Old 05-28-2012, 02:52 PM   #5
Spraggs
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Re: GALEN HALL 2012 SUMMER SELLING

2% pls via paypal
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Old 05-28-2012, 03:02 PM   #6
pquest99
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Re: GALEN HALL 2012 SUMMER SELLING

10 shares
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Old 05-28-2012, 04:06 PM   #7
pachxx
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Re: GALEN HALL 2012 SUMMER SELLING

2 shares via Paypal
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Old 05-28-2012, 04:08 PM   #8
Steve Haris
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Re: GALEN HALL 2012 SUMMER SELLING

So let me get this straight.

You think you have the same edge in the 10k 6max as you do in 1ks/1500s?

You are selling the 50k 8game at 1.05 but the 1500 horse at 1.00. And 10 game 6m at 1.5??

And you think that the 3k shootout is the softest tournament of your package? Thats just so random/nonsensical.

I'm a firm believer of higher markups for soft tourneys and with your money idk why you'd even want to sell at 1.6 for any NL tourney under 5k buyin and I think that elite players edges are much bigger....and WSOP ME lower end of ROI estimates in the 300% area.

Its just your markup has no consistency based on the fieldsize/strength. The only markups I'd disagree with greatly are 10k venetian and 10k 6m...I just don't understand how you can make seperate markup for each event, but have the tougher tourneys be about the same markup.

Gl at the WSOP! This definitely is better value in the marketplace as a whole in the package and not trying to hate on your package or your ability...just trying to understand the logic used in creating this package. Honestly, I'm pretty sure misclick/typos might be the best explanation for some of it lol, or maybe you just didn't give it much thought.
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Old 05-28-2012, 04:19 PM   #9
GoldenBears
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Re: GALEN HALL 2012 SUMMER SELLING

Debated discussing this exact thing in my OP.

I've marked down the 1-1.5ks lower than they should be in comparison to the other stuff. I think that the markups in the bigger events are fair, and if I were honestly selling the 1-1.5ks for what they were worth, I'd probably sell at like 1.9 or higher.

But I'm selling smaller %s of those (~12-15%) so the difference between 1.64 and 1.9 is pretty marginal (30 bucks), and so I decided it was better to mark those down a lot from where they "should" be since it wasn't that many dollars. Since people aren't used to seeing numbers that high, I figured the tradeoff of a couple bucks was worth not putting 2.0's on my sheet. My original draft had all those events at 1.88. (For what it's worth, I would pay and have paid 2.0+ for some certain players in really soft nlhe events before)

Also, even though my ROI in those is astronomical, the field sizes are so big that if you think of markup being a function of expected growth rather than expected value, having similar markups in a 5k and a 1k isn't that crazy, since the 1k field is so much bigger.

For shorthanded events (10k six max) your skill edge versus the rest of the field can be comparatively lower (compared to the 5k full ring, for example) but your ROI can be higher because you can leverage that skill much more in a shorthanded game.
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Old 05-28-2012, 04:50 PM   #10
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Re: GALEN HALL 2012 SUMMER SELLING

Fair enough. You are adjusting to this preconcieved idiotic marketplace standard based on what people would buy.

2.2-2.5 in 1ks/1500s/WSOP MEs for elite players make a **** ton more sense than 1.6-1.8 in 10k 6max/10k venetian for anyone...but you've had a lot of success so you can feel free to overestimate your edge in that field Everyone entitled to their opinion, no matter how wrong/right they are.

Personally, I think the risk of bull****/scam/a player just being a losing player idiot is huge in MP and the greatest risk so buying action from a player of your caliber of which the scam/donk around % is essentially zero....that its worth paying for a sweat where you know you won't get scammed!

GL! Its hard to quantify how the structure of 1ks/1500s effect the edge, but I think 200%+ ROI isn 1ks/1500s is much more fathomable than 100% in 10k 6m.
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Old 05-28-2012, 04:52 PM   #11
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Re: GALEN HALL 2012 SUMMER SELLING

For shorthanded events (10k six max) your skill edge versus the rest of the field can be comparatively lower (compared to the 5k full ring, for example) but your ROI can be higher because you can leverage that skill much more in a shorthanded game.[/QUOTE]

Surely you would have a higher ROI potential in a bigger field comp against weaker FR opponents than against tougher opponents SH where people's skill levels will be so evenly matched winning edges will be greatly reduced?

This can be argued both ways since its nearly impossible to quantify the trade off between playing in a tougher field, higher buyin comp vs playing a "purer" form of poker where you can leverage your skill edge more.
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Old 05-28-2012, 05:11 PM   #12
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Re: GALEN HALL 2012 SUMMER SELLING

2 shares. ill pm you..we need to square up from SHR and what u owe me for my prelim package.
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Old 05-28-2012, 06:15 PM   #13
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Re: GALEN HALL 2012 SUMMER SELLING

This is insane markups. You are a good player of course, but you just caught a huge upstrick and now overestimating your roi.
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Old 05-28-2012, 06:22 PM   #14
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Re: GALEN HALL 2012 SUMMER SELLING

I think you should be following your own advice and split this package up.

Group all the smaller events together (everything where the cost column is $1500 or less) together. Each share would be much more affordable for investors who are not opposed to high markups.

The 5K and 10K package would have a much lower average markup and could attract investors who are opposed to paying 1.5+.

It seems like you're planing on getting additional backing for the 50K, anyhow. So leave that out.

I really don't like your first paragraph in the OP. How would you feel if your horses would include such a clause.

And no markup on the 1500 HORSE? That has to be a typo. Otherwise why play it at all?

Normally I try to avoid posting in a selling thread, but the discussion already started and I was a little surprised that you do the exact opposite of what you advised sellers to do a little more than 2 months ago. Hope you don't mind.
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Old 05-28-2012, 06:33 PM   #15
GoldenBears
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Re: GALEN HALL 2012 SUMMER SELLING

I'm pretty indifferent to whether or not this package sells, so I took a lot of steps to increase convenience for me.

Really, I would just as soon sell a package of 5-10ks, and I just threw in small bits of the 1-1.5ks in addition to those literally just for happiness EV of buyers and fun sweats.

Went back and forth on the 50k, have a whole new paragraph about why that was included, but whatever it's kind of immaterial. It's in there as-is, I'm probably not gonna play it, and if I play it'll be because I am feeling sick good about mixed games and running really well at that point.

1500 horse, didn't feel fair to charge markup. I'm not great at either Stud game so I lose value by playing super nitty, I'm decent at holdem and razz and okay at o. I probably have a decent edge just because I understand tournaments and can figure out what people are doing, and can also play optimally deep since the money matters so much less to me than others who will be forced to play nitty, but I was deciding on markup and just said "whatever, **** it put it at 0."

I'm good at plo, really good at nlsd and obv nasty at nlhe and big bet tournaments in general, so it'll just be a perfect spot for me to continue to put into practice a lot of theory I've learned about those games and add value to the 8/10 game mtts.
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Old 05-28-2012, 06:39 PM   #16
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Re: GALEN HALL 2012 SUMMER SELLING

Quote:
Originally Posted by Staker View Post
This is insane markups. You are a good player of course, but you just caught a huge upstrick and now overestimating your roi.
Counting the number of packages in the marketplace which you could say this about would be a full time job. Take a look at how many guys are selling packages where the markup is the same for every event, and/or they're selling at 1.2-1.3 just so they can afford to play those tournaments while keeping enough of their action to make it worth their time. If I was investing money I'd take the guy who I know is good based on his strategy posts alone, who I know isn't going to scam me, isn't going to punt a stack, won't play if he isn't feeling up to it, and doesn't even need to sell action over the guy who chooses a baseless, cookie-cutter markup. GB makes his intentions for the high MU clear in the OP.

I agree with Stealthmunk's thoughts on some of the markups.
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Old 05-28-2012, 06:53 PM   #17
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Re: GALEN HALL 2012 SUMMER SELLING

Quote:
Originally Posted by GoldenBears View Post
I'm pretty indifferent to whether or not this package sells, so I took a lot of steps to increase convenience for me.

Really, I would just as soon sell a package of 5-10ks, and I just threw in small bits of the 1-1.5ks in addition to those literally just for happiness EV of buyers and fun sweats.

snip
Fair enough. Don't know if its sweat is generating that much happiness EV for your investors after they take out their calculators and realize that even a bracelet in one of the smaller events doesn't mean they are freerolling the rest of the package.

Anyhow your package seems to be selling. So best of luck.
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Old 05-28-2012, 06:56 PM   #18
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Re: GALEN HALL 2012 SUMMER SELLING

Quote:
Originally Posted by CBorders View Post
Counting the number of packages in the marketplace which you could say this about would be a full time job. Take a look at how many guys are selling packages where the markup is the same for every event, and/or they're selling at 1.2-1.3 just so they can afford to play those tournaments while keeping enough of their action to make it worth their time. If I was investing money I'd take the guy who I know is good based on his strategy posts alone, who I know isn't going to scam me, isn't going to punt a stack, won't play if he isn't feeling up to it, and doesn't even need to sell action over the guy who chooses a baseless, cookie-cutter markup. GB makes his intentions for the high MU clear in the OP.

I agree with Stealthmunk's thoughts on some of the markups.
I can honestly say that I've never agreed more with a post in marketplace. You are the Frank Ricard of the poker world.

Ah...We have no response. That was perfect.
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Old 05-28-2012, 07:20 PM   #19
GoldenBears
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Re: GALEN HALL 2012 SUMMER SELLING

2% and 10% to private investors

10 shares - pquest
10 shares - private investor (check)
2 - Scansion (cash in vegas, I assume?)
2 - Spraggs (paypal)
2 - pachxx (paypal)
2 - chipchucker (settle)
2 - private (BoA)

30 shares sold so far
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Old 05-28-2012, 09:39 PM   #20
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Re: GALEN HALL 2012 SUMMER SELLING

CBorders, No matter what others do, i'm not comparing. This is not a principle which i use for choose to buy or not to buy. If idiots will start to sell with 2.0 markup, is this mean that Galen need to make offers with 3.0?

If be honest, I didn't saw guys who sale sides with so high markups. Only two guys i remember which sold Main Event with 1.5-1.6. This is another story bcz Main is unique event: number of people (more precisely fish/pro ratio)+structure. In sides structure is bad in 1-1.5k's, in 2.5-5k's bad field (fish/pro ratio). And even for Main i think this markup is too high, for sides especially.

In my backing career I saw many and many guys, who won some tourneys and started to think that they beat everything with 100+ roi. And not only himself, Galen think that every normal player have a huge roi. EVEN in events like 101bay with ~300 players He don't lie or try to make profit on stupid backers, no. He really believe in this, he also buying shares with big markups from other people.

But reality is different: only really TOPs have now +ev in EPTs/WPTs. And roi is low, like 5-10%, not larger. Others which is good, but not so cool as super-tops, have 0 or -ev. WSOP is better, in Main tops have 50 as minumum, but not larger 100 i think. In sides situation is worst bcz of structure.

Last edited by Staker; 05-28-2012 at 09:49 PM.
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Old 05-28-2012, 09:52 PM   #21
GoldenBears
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Re: GALEN HALL 2012 SUMMER SELLING

First of all, if you don't want to buy, don't buy. I say up front in the OP that I'm charging a big ass markup and I explain exactly why.

You don't need to troll my thread with your speculations about what people's true ROIs are.

Especially since it's very difficult for me to address any of your points without coming across as a ginormous, egotistical, douchebag, which is something that I try to avoid doing.
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Old 05-28-2012, 09:53 PM   #22
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Re: GALEN HALL 2012 SUMMER SELLING

I think reality is quite a bit better than that staker, have you played one of these EPTs/WSOPs recently? They are pretty damn soft.
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Old 05-28-2012, 10:12 PM   #23
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Re: GALEN HALL 2012 SUMMER SELLING

Real question is who's giving me odds on Galen binking 2 bracelets this year?


GL duder
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Old 05-28-2012, 10:18 PM   #24
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Re: GALEN HALL 2012 SUMMER SELLING

Quote:
Originally Posted by GoldenBears View Post
First of all, if you don't want to buy, don't buy. I say up front in the OP that I'm charging a big ass markup and I explain exactly why.

You don't need to troll my thread with your speculations about what people's true ROIs are.

Especially since it's very difficult for me to address any of your points without coming across as a ginormous, egotistical, douchebag, which is something that I try to avoid doing.
Correct. I can understand why people might be puzzled by the way Galen has gone about allocating his MU for specific events...but, at the end of the day, he isn't holding a gun to someone's head...most people who make criticisms of a sellers' MU actually don't have any intention of buying shares in the first place.
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Old 05-28-2012, 10:34 PM   #25
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Re: GALEN HALL 2012 SUMMER SELLING

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Originally Posted by Giffordonian View Post
most people who make criticisms of a sellers' MU actually don't have any intention of buying shares in the first place.
+infinity
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