Posted Wed Aug 30, 2006 1:38 pm GMT by Sharpy
Has anyone ever had someone back them. If so what % are used?
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Posted Thu Aug 31, 2006 1:53 am GMT by groton
well when my grandfather bought me into a couple of the smaller events at the WPF a couple years He owned 45% of me he said
I did not cash in any thoe 
Posted Thu Aug 31, 2006 2:33 am GMT by xDiamond_CutteRx
Depending on the specifics of the deal, if someone backs you 100%, 50% return is considered the "standard," but there are so many extinuating circumstances it's difficult to set a "hard and fast" rule... whatever is agreed as "fair" is often the deal.
You might try asking at somewhere like 2+2 where there are a quite a few players who play the majors... but it's very possible you'll get some response like "LOL this has been asked 100 times u idiot" or "learn to use a search function dumass."
Wish I knew more about it, but I've already told myself that I never want to have anyone back me.
Posted Thu Aug 31, 2006 2:36 am GMT by groton
| xDiamond_CutteRx wrote: | Depending on the specifics of the deal, if someone backs you 100%, 50% return is considered the "standard," but there are so many extinuating circumstances it's difficult to set a "hard and fast" rule... whatever is agreed as "fair" is often the deal.
You might try asking at somewhere like 2+2 where there are a quite a few players who play the majors... but it's very possible you'll get some response like "LOL this has been asked 100 times u idiot" or "learn to use a search function dumass."
Wish I knew more about it, but I've already told myself that I never want to have anyone back me. |
yah 2+2 is too full of NITs who dont think there NITS its not even funny,.
as for you not haveing any Backers.
U would not even let real close freinds or Family back u a small Bit like lets say 100bucks for 1% of u ina Ten G Turny?
Posted Thu Aug 31, 2006 8:20 am GMT by shorn7
I agree that 2+2 can be a flame-mail fest. But, there are some really strong players who post there from whom a lot can be learned (especially at the middle and higher stakes NL cash game limits). Anyway, I don't post there but I lurk just to feed off of the good information.
Posted Thu Aug 31, 2006 9:08 am GMT by wEbMaStEr
I think expecting 50% return from !00% backing is asking a bit much. From the player, not the backer I mean.
If someone backs you 100% I think you'd be lucky to get 25% return on your winnings.
After all, no backing, no return at all.
Would be different from friends & family i guess, I'm speaking of it as more of a business deal.
I 0wn 10% of any winnings my wee bro makes over $100k because i gave him $200 one time. as he currently plays the .02/.04 FL tables... I'm not expecting a return anytime soon 
Posted Thu Aug 31, 2006 9:31 am GMT by mooseontheloose
heh, I forget his name but a guy that made the FT of the WSOP I think in 05 was backed by a friend. He ended up winning $4,000,000 and his buddy took him a cool $2,000,000 for backing the entry fee. Pretty sick profit lol.
Posted Thu Aug 31, 2006 12:49 pm GMT by groton
dananalman
but they split the Entry 50/50
my Story basicly It was free money to start with since my Grandfather won three seats into the WPF ME so he got his seat + 10000Dollers in Lamers and 10Grand in Cash
the seat the first one and 5k and 5k the second two .
So he bought me into some of the smaller events 
Posted Fri Sep 01, 2006 2:29 pm GMT by ninetensuited
one of my friends wanted to back me in online MTTS. That went on for like 3 weeks. i got 40%
Posted Sun Sep 03, 2006 6:04 pm GMT by suitedaces84
| Greg Raymer wrote: | I had a deal with my wife where my bankroll was a fixed amount. By 2001, I was playing in some pretty big games, as my bankroll had grown to support it. For example, I would often play in the 75-150 mixed games at Foxwoods and Mohegan Sun, and occasionally these games played as high as 150-300. In 2002, I spent a big chunk of my bankroll on my family and house, more than I should have. I then went to the 2002 WSOP, and paid cash to enter the main event, as well as a couple of other events just prior to the main event. Unfortunately, I lost about $30,000 on that trip, and was left with a bankroll of only about $15,000. The good news was I still had plenty of bankroll to play poker, but the bad news was I could not afford to play in the big mixed game at the local casinos anymore. Since the next biggest game that was regularly available was 20-40 holdem, I decided I should see about getting some backers to add to my bankroll, as I felt that having a piece of my self in the big mixed game would be more lucrative than having 100% of myself in the 20-40 game.
Thus, I went out on the internet to raise money. I could’ve asked many of my poker friends personally, either live or by email, if they wanted to invest. However, I did not want them to feel any social pressure to do so, and did not wish to have any investors who were doing it because we were friends. I only wanted them to do it if they thought it was a good investment, and they had the bankroll to afford it. So, I put up a post on the rec.gambling.poker newsgroup, as well as on the 2+2 forums, laying out the deal and asking interested parties to email me. As you might imagine, I caught a lot of flack from the naysayers out there. Fortunately, I also found about $30,000 worth of interested investors, who bought anywhere from 1-10 shares each at $500 per share. I bought shares with my bankroll also.
The deal was simple, though we laid out a multipage contract to cover all the details. Each of us bought shares at $500 per share. I played poker within prescribed limits for the rest of 2002. If we lost, each share took a proportionate share of the loss. If we won, I got the first 35% of the win for my time and effort as the player, and each share then got it’s portion of the remaining 65% of the win. Since I owned about 1/3 of the shares, I was getting a bit under 60% of the win.
At the end of this deal, each share was worth about $488. We decided to renew the deal and do it again for the first half of 2003. Of course, there was some turnover, with a couple of investors who cashed out, and a couple who bought more shares (or new investors who came in). At the end of deal 2, each share was worth about $550. We did it again, and the shares were worth about $600 at the end of 2003. Finally, we renewed the deal in 2004, with the deal set to end as soon as I was done in the WSOP main event. At the end of the deal, each share was worth over $36,000. My largest single investor collected well over 1/3 of a million for his initial $5000 investment! |
To summarize: the point of being backed is to allow you to play the stakes you want. If I have the roll for 50/100 but the only games available are 20/40 or smaller and 100/200 I could round up some backers and take 50% of myself in the 100/200 game (the backers would take the other 50%). Note that this is very silly in small games because any stakes you want will be available.
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