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We fund player to play. Using your example, we send £1k. If they lose we top up their funds so they always have £1k and this increases their make up. When they win they send us the excess over the £1k and this reduces make up. If they are profitable over the staking period profits are chopped and its reset and we start again.
Also, the make up isn't owed as such. It will depend on the exact contract but if player decides he doesn't want to play poker anymore he can walk away.
thanks matt, i thought that they would share the winnings each month
to help illustrate the numbers, take it that the staking period is one month and they play once. winning and losing £500 alternate periods. you can change the month to week or day if you would like. at the end of each staking period 50% goes to each. the consequence is the same.
most backers would cut their losses rather than continuing to throw money at the problem
there is rarely a 'bond' involved in these deals
also your maths is off, well assumptions anyway:
month 1 he wins and I take £250
month 2 take nothing but owed £500.
month 3 take £250 plus £250 of the owed money leaving £250 owed.
month 4 take nothing but owed £750.
month 5 take £250 plus £250 of the owed money leaving £500 owed.
month 6 take nothing but owed £1,000.
and so on.
all the money in the second month would go to clear the make-up. you only profit split when out of make up usually.
so you would go:
month 1 he wins and I take £250
month 2 take nothing but owed £500.
month 3 take $500 of the owed money
month 4 take nothing but owed £500
month 5 take £500 of the owed money
month 6 take nothing but owed 500
and so on.
if you struck your deal so that half the money went to make up and half to the player then yes you could allow your horse wrack up a huge amount of make-up. but i doubt it would be +ev to allow that to happen.
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i play under a staking / coaching deal at the moment,. i've found it to be an incredible experience. great coaching and support and no risk to me financially. yes i have volume requirements to hit and study to do, but when you enjoy those things giving up x% of your winnings is well worth it, or has been for me. the only downside for me has been having the games / sites i play on restricted.
Aussie09, I would say we are about a similar standard. He runs a business in China which takes up the majority of his time, which is why he isn't grinding the games himself. It's hard to give a definate answer of whether I am a profitable player in the games given my sample size is about 2 hours, but if the quality of play I saw that night is anything to go by then I would say definately yes. I don't have the funds to finance myself in these games, and as itsover4u says, the appeal of this deal to me is that it would give me an oppurtunity to make a considerable amount more than playing my usual games on sky.
Itsover4u, thanks, I Will most likely be in touch to pick your brains at some point over the next few months
To clear up the makeup confusion... He will give me 5k bankroll at the start of the month. If I lose 1k early in the month, the roll will not be topped back up to 5k. I just play with the roll until the end of the month. If my roll if above 5k at the end of the month, the profit is split and the roll returns to 5k for the next month. If I am at a loss I give him what is left of the roll and we go our seperate ways.