*couldn't find the right place to post it.

short history:
I'm playing live 1\2 2\5 for 2 years. consider myself good cash game and tournaments player. location: LV NV.

there is this businessman who i know for over 3.5 years. we kinda like 'friends' but not close, I see him from time to time and we talk for a bit.

he don't know nothing about poker. but he willing to invest on me, he don't care to try it , for him putting 1000-1500$(even more if needed) it's a fun investment, for me very serious one.

my question is how i should plan it? from there, a lot of questions popping.

should i invest the money on tournament only? maybe 12 - 200$ buyins?
should i play live 2\5 ?
how i should split the profits?
what about Tax if i cashed big amount in a tournament?

**NOTE all the plan and how to do everything is on me, i need to decide everything. he don't know nothing about these stuff.
*my invest is 0$ even on tournaments buyins.

any ideas? someone with experience?

My advice would be to make sure your not screwing this guy over as he seems pretty clueless and easily taken advantage of. If you want to play tournaments or cash games for that matter make sure your doing it with the proper BR management and that he is getting a fair % for what you think your really worth to him.

TBH it doesnt sound like something you should be signing contracts over, more like coming to some sort of an agreement where he stakes you in a few monthly MTT's at a certain %.

a serious player keeps records. In order for us to ascertain whether or not it would be a good investment for your not so close friend, we need to know how many hours of cash you've played and how much profit you've booked and how many tournaments/amount of buyins you've played and what your results are (itm, final tables, big scores, etc)


Cheers

I can safely say if you haven't kepy records of your winnings and have no clue about your hourly, roi and so on you have probably won a lot less than you think.

What you're describing seems like a awesome opportunity to get a backer with deep pockets. Whatever you do, give a fair deal and be honest about your abililty. Don't screw this.

On MTTs you can sell percentages of your winnings..
This is one way to do it (there are several)..

Example:
If your investor wants 50% of your winnings, he can actually 'back' you.
Meaning, he will pay 100% of the buy in, in exchange for 50% of your net profit (after tax).

Say you win 10k (after tax). For him to get 5k, he would pay the whole buy in.
OF COURSE, this depends on your skill level. If you are batting .500 (cashing 50% of the time) then backing you 100% percent is a pretty good investment.
If you are batting .400 then you'll have to sell for less. Meaning, you can charge him <=90% of the tournament buy in to get 50% of your winnings.