WWYD: Confusing Staking Offer
Hey everyone,
I'm a mildly experienced reg (3-5 days of live play/closest thing to a job I have) and I'm starting to get staking offers. Sometimes I take them. Sometimes the money offered magically vaporizes and I'm on for 100% of what's budgeted. I ALWAYS make sure I can cover at least 125% of what I've budgeted for a given event or trip, even if I'm staked. I never take more than 40% in stakes. I pay people in a matter of hours when they stake me. I'm doing my best to make this silly card game a means by which I build a business that can be respected and that has staying power.
A friend of mine recently opened a conversation about an upcoming tournament. I have no idea how to approach this one.
This friend deals professionally and deals some of the private games I play. He's a good player and an excellent dealer. More importantly, he understands my approach and seems to believe in me. (ie. he has seen me play a LOT of hands, watched me have some severe swings, has floated me when I didn't have cash on hand after a bad beat...and has always been paid back that night, etc.) A local card room has an annual invitational freeroll tournament in August. Players qualify by winning, making the final table or at least cashing on tournaments. Their stack for the freeroll is determined by points granted from said finishes.
To get to the point, I'm rather high on the list and I have a secure qualification. My friend wants to buy action on this $50K freeroll. Top prize is expected to be roughly $10k. But it's a freeroll. I've been playing tournaments at this room all year (2026 calendar year) and had a lot of disappointment mixed in with my successes and it has brought me to where I am on the list. All of my entries have allowed me to have the spot and starting stack that I'll have for the event.
...so...if my friend wants to buy - as an arbitrary example - 10%, what's the selling price? What's my cost basis? All of my tournament entries? All entries on tournaments that I cashed out in? All entries minus prizes? All entries in tournaments in which I cashed minus the prizes?
...all I've ever spent on tournaments in the 13 years I've played this game?
I want to make sure that the people who invest in my action feel like they're getting a reasonable-to-good deal. I never want someone to feel like they bought a bunch of vapor. My track record on that is pretty solid. I just don't know how to figure out what the value proposition that is most fair on this looks like.
It's a super weird situation but I'd love to sell some action on something I'm not paying for. At the same time, I'm selling shares of something I'm not buying into. But I'm also going to ruin some weekends tomorrow morning for the Friday Morning tournament.
If you were my friend, what would sound fair to you?
7 Replies
How many players are there likely to be?
Based on 100, then it would be like a $500 buy in. Therefore, $50 for 10% would seem reasonably fair for both?
You win $10k: he "wins" $950; you receive $9,050. You bust: he loses $50; you receive $50 for your time and effort.
Thanks, Mike. That makes sense to just work with that.
To provide some details:
200 players will qualify.
Starting chip stacks will be determined by ranking.
Starting stacks will range from 1,000 to 18,000. At my present ranking of #25, my stack will start at 6,000.
If any of that changes anything, I'd be grateful for your ongoing input. That said, I think I see how you're looking at it and it makes sense.
Thanks again.
Then your starting point is arguably $25 for 10%. You have a few more chips than some, and less than others. You're supposedly better than some; not as good as some others.
You could probably juggle the figures scientifically, somehow.
Or, go for, "How does $50 for 10% work for you?". To me, that's a nice round figure that sounds reasonably friendly. Neither of you will be pissed off, win or lose. If he makes a counter-offer, try to meet in the middle, or thereabouts.
Good luck.
OP,
this all sounds very odd. From the freeroll, starting stacks, making a living but negotiating for a couple hundred bucks...youre not American im guessing?
I dont mean this in any derogatory way, it just sounds strange to me. To me, you have a couple hundred bucks of equity due to your starting stack. If you like the dude and want to do him a solid then I wouldn't make it so formal.
Just tell him to give you 200-300$ and you all can chop it up. It'll be a fun sweat and if you bust youll make a little cash. Play a bit fast and go for the win so it's worth it to both of you.
No offense taken, Vince. I am, in fact, an US-born American citizen but I'm very much an outlier as such at this room in the SF Bay area. (Yes, it's the same room in question from my thread about the "one player per hand....)
I appreciate the simplicity of your answer, Vince. It's clean and has value for both of us. There are some talented (at least as far as I can tell) players in their usual tournament suspects so I don't expect to take the $10kish 1st place prize but even pulling down something like $2k and splitting it between us would be a pretty good showing, given he's the only one of us putting money in. I'll bring it up next time I see my friend.
Yeah, this place is pretty unusual. I'm operating without valid ID right now, (I know...I know...I have an appointment to renew my lost passport tomorrow morning...I'm working on it,) but I kind of have to stick with places that don't ask me for an ID. That's this circus and a private game my friend introduced me to and I've done pretty well at.
Just in a strange spot. Long story. Trying to build a roll back up after some really cold cards and playing when I was already tilted. I did it to myself but now I need to get it built back up.
Thank you for the input. I appreciate it.
So they will pay you out in a tournament setting without an ID? that's wild. I guess if you already have your card with them and they know you i can see how it could happen like that as my local card club probably wouldnt **** with me either.
When dealing with friends or even people im friendly with who could potentially help me out one day I think its always best to keep it simple. Thats why I think getting real nerdy with the math isnt appropriate.
I wish you luck man, hopefully you run the table and win the 10k. Nothing worse than a wave of frozen cards.
