Quote:
Originally Posted by Toupee Jay
Bottom line - Staking poker players is a losing proposition! I've staked a couple in small buy-in tournaments and taken pieces of a few in larger events. A couple of them are well known names in the poker world. Being on "make-up" sounds good but in reality it means almost nothing. One (name) player who I took a piece of didn't cash, but in his next event he finished second for a healthy score. When I asked him about making up for his prior loss he said I wasn't in on this one. When I asked him about "make-up" he said we didn't specify that ahead of time. This, after he told me how "make-up" works!
Another name player stiffed me for a measly $200 after cashing for 10K and making a saver with me for 5%. He gave me $300 and told me he couldn't give me any more. A week earlier I had given him $1,750 on a 5% saver when I cashed for 35K (at the WSOP). I was stunned but said nothing at the time. Later I confronted him and got paid.
I've also loaned small amounts of money (under 1K) to a few players to play in an event or cash game, with the understanding I would be paid back. To date, zero has come back to me, even when I've seen a couple of them with healthy cash stacks on the table in front of them.
All this said I'd rather be on my end of it then theirs. I sleep good at night and have managed my finances well. I have come to realize that most of these guys are degenerate gamblers who will never hold onto any money.
I've had a lot more success betting on myself, so that's what I stick to now. Lesson learned.
Well, to be blunt, you were not a very good backer in terms of doing any kind of due diligence. Assuming all of what you mentioned was correct (and it likely was) then in one case you did not properly understand how makeup would work (often for live event based backing it is a one time shot, though if it is a package of tournaments then makeup usually applies within that package). Other cases it sounds like you lent money to people when you had it, and some do that to feel better about themselves and soon realize that the vast majority of people who ask for money are not the ones who should be given money (unless you give it to them to never have to speak to them again, which some have done as a tactic).
Quote:
Originally Posted by sixfour
I'm sure that the way to expedite the return of your money is to refer to the guy as a scumbag, that always helps
Well, yes and no. I certainly agree that calling someone a "scumbag" is a bit pointless, even if valid, but people like the main character in this thread will nearly always use the "if you tell anyone, then I will not pay you back" line of attack/defence.
As a general rule of thumb, once they say a variant of that (and the "you attacked my manhood" qualifies)- they are never intending to pay back anything, so alerting other backers and the community and taking legal action (if possible) is the correct approach at that time.