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A little help... Staking
**Disclaimer I am not asking for staking here**
I am looking to expand the mtts (and volume) I play i would likely be looking next year rather than this year.
Also would be backers be ok just staking one specific format if I wanted to keep my HU cash and SNG action seperate?
If someone could link me up to any decent places to look I would be very greatful.
Hope this is ok to post if not please feel free to delete if neccesary I did try to search the forum but could find the specifics I am after.
If you have had any experiences being backed it would be great to hear them.
Comments
Will they be OK with your desire to keep your most profitable games to yourself? I'm not sure, possibly. They might want the whole lot or nothing, or they might be fine as long as they get a larger split to reduce any potential risk. Of course the staker will require substantial proof via long-term graphs & things, as well as a reference or two for good measure. If you can prove long-term profit in MTTs or something then there will be no problem, but do keep in mind that there's a possibility that potential backers are initially skeptical of your reasons to be staked for MTTs since you're self-funded for your other games (He has money for those games, WHERE IS HIZ $$$$ FOR THE MTTS ETC) , so you'd likely have to make your reasons for that quite clear - just maybe, ofc, I don't do this staking biz.
Don't get staked unless you need to - backers scoop way more than their fair share of EV with the most commonly used model IMO, well, at least in most circumstances- just my 2p
I play exclusively under a staking deal and its brought my game on no end. In high variance formats it can make a lot of sense. You give up profit and your backer eats some of the variance for you.
I wouldn't bother unless the stable has good coaches though. You really want a good support team in place with study material, regular coaching session, technical support etc etc
The one major advantage is moving upstakes. Usually if you want to move up you have to stop withdrawing (or reduce withdrawls) and build your roll to the point where you have 100 buyins (or whatever you are comfortable with). When backed if your backer agrees you can move up, you simply get sent the extra funds.
In some formats stables are setting the standard with regard to correct strategy. So playing on your own without coaching / sick self study / good study partners you can fall behind the curve
Also there is support within the players of a stable. Discussion, moral support, sharing programs / charts / spreadsheets etc etc.
I don't know much about mtt staking, but avoid pocarrr (they have some, ahem, interesting approaches to make - up and avoiding losses). Patrick Leonard runs a stable and I've heard really good things about his coaching and support.
But improvement is key. Ensure that coaching is in place. My stable have 8 group coaching a week, I have 1-1 hour coaching at least once a month and they have bought / contributed to me buying all sorts of software and made me custom stats, huds, ahk scripts etc. And they are constantly crunching new strat.
In return they may want you to be focused more on mtts.
If you are looking for simple cash backing selling shares in your mtt schedule may be better. People will pay silly mark ups just for the sweat.
I don't really need to comment further, you've had some great replies & I can't improve on them.
I would encourage you to read the linked post by EvilPingu, which is excellent.
This comment by Sir P struck a chord with me, too.....
"....Don't get staked unless you need to - backers scoop way more than their fair share of EV with the most commonly used model IMO....."
Teddy makes some good points, including a mention of Patrick Leonard's stable. I could put you in touch with Patrick if you wished (PM me), but I think his horses all play at much higher levels, & you may struggle to get accepted.
Finally, things may have changed these days, but it used to be the case that the Staker had access to the Stakees account, & "swept it" every night. (As in, withdrew winnings or topped up). Sky Poker would not permit this under any circumstances - only the Account Holder can deposit or withdraw.
Personally, I'm a little too old-fashioned to agree with staking, unless you want a punt, but I always look at it this way. (And I DO understand why players want to be staked). Players look for little edges all the time, that's the nature of poker & poker players, & quite right too. And yet staked players happily give up x% (50%?) of their winnings in return for being staked. Each to their own I guess, & Teddy makes fair points about coaching etc, but I'm blowed if I fancy giving away half of my winnings to anyone. I'd rather get a low interest loan quite frankly - it's far cheaper.
Anyway, the very best of luck to you.
Would like to echo comments made by Teddy regarding coaching. Coaching from a dedicated winning player could add astronomical value to a staking deal, so if I were you I'd consider looking for a joint deal, something involving both staking and coaching, before proceeding - or just go alone.