NT, if I'm investing 3 stacks for my friend to play poker.. how much should I expect in returns?

[recycledpaper]

Originally Posted by tree4twenty

Originally Posted by recycledpaper

Originally Posted by DublBagn

Originally Posted by recycledpaper

Originally Posted by DublBagn

I am assuming a few things, he can play fairly well, you trust him and you know nothing about business.....

Does he have any money to match with??? if not, think of it as a business, he as the ideas/skill you have the money...you recoup OG investment and collect 50% of the profits after that.....no cut off!!!!

in reality, I would not give him a cent.....I supported myself for 3 years playing poker and I learned that if he has no money now, he cant be that good.......

i do know a bit about business, but not in the sense of funding and what's appropriate to take. this is where NT really helps, the advice and experience of others can help me a lot. i appreciate your response.

on the other hand, and i know it's lame because you should never involve business, money, and your friends, but in this situation, as a friend, taking 50% for the rest of his poker career is something i don't want to do because i don't believe it's fair. especially since the payout can be significantly greater than the initial investment. for example, if i wanted to start a yogurt place and it only cost 50g's to make and my friend fronted 50g's straight up, if i made 1mil my first year, i wouldn't be happy with giving him 50% of that for the rest of my store's life, just because it wouldn't be fair to me IMO.

its not a matter of happiness or enjoyability.....he cant do something without what you have, in this case funding......I have a friend who took 100k from a friend to start 4 little ceasers pizza joints, he has to cough up 50% of his profits for 10 years then 10% for the life of the business or he has to give one store to the guy......

thats business my friend.....if you dont want to have to worry about that, just charge him interest on the 3k.......3-4% a week is just about the going rate.....

i like your 10% idea and will most likely roll with that AFTER i get a certain amount back with a larger cut. thanks for the info and tips sir!

You think that you are going to get 10% of his poker winnings for life?

1) You're assuming he will make a profit for the rest of his life.

2) You will never know how much he has made. You think if he makes 3K one day he is going to call and tell you?

3) You would need a contract to insure you get your money. GL getting a contract on something illegal to hold up...

If you lend him that money, you're ******ed, IMO.
Matter of fact, once he loses it within the next 2-3 weeks, make another thread asking us how to collect a debt...

Put him to the test - Lend him $100 and tell him to play with 3% of that. Once he makes it into $400, you will lend him 1K and he will play with 3% of that....Won't happen. He will take the $100 and play with 33% at 1 time because he has no bankroll management and you will be glad you didn't do it...

1) Not necessarily for life, it's more of a "eh it's been enough, we'll call it even now." He's a friend, not a business investment,but I'm not going to risk $3,000 without any form of reward.
2) Yes, I do. I guess you just don't have that kind of trust and relationship with your best friends. Money has never come between me and my friends, justask the dude who I beat in bball 1v1 for $200. Paid on the spot and then we grabbed dinner like it was nothing. Dudes on here were yapping about how weweren't even gonna be homies over $200... lol
3) How is this illegal?

And there is no collecting debt.

 

[sportinjordans916]

Does he play online? If so you can look up his results sharkscope.com - sit & go stats pokertableratings - cash game stats officialpokerrankings.com -tournaments They tell you an overall ROI so depending on the stakes he plays and variance along with the time you are expecting him to play you can get anidea. Goodluck.

 

[eaalto]

Honestly man, this doesn't sound like a good idea. I know he's your friend and all, but if there are two things that can ruin a friendship, it'slending money and or doing business with each other. It's not good because when the transaction goes south, the friendship can too. Basically, if you stakesomeone into a tournament, etc., the understanding is that you split the winnings 50/50. None of that 10% of your career earnings nonsense. I was friends witha guy at UC Irvine who pretty much stopped going to school to become a professional poker player. He found a guy to stake him into several of the events at theWSOP, and he ended up winning one of the 1,500 no-limit events, and something like $600k. To my understanding he split that money 50/50 with the person whostaked him. His lifetime earnings in live tournaments stand somewhere around $1.5 million, and that doesn't include what he earned online. I'm not sureif he still plays tournament poker or not, and last time I saw him was last year. He used to push a M3, when I saw him he had an E55 AMG.

Remember Jamie Gold winning the main event? He was staked into the tournament, and he was supposed to split the money. The money was held up in litigationbecause of it. Per Wikipedia: Winnings controversy
Just prior to the 2006 WSOP, Bodog.com Entertainment and Gold entered into a business relationship when Gold agreed to find celebrities willing to play in themain event under the Bodog banner in exchange for a paid entry into the main event. Gold partnered with Crispin Leyser to help with this task in exchange forhalf of Gold's winnings, according to Leyser. After Gold won, Leyser says that Gold reneged on the deal and had decided to keep the entire $12 millionprize. Leyser sued Gold on August 22, 2006 which resulted in Chief U.S. District Court Judge Kathy Hardcastle issuing a restraining order which prevented Goldfrom collecting $6 million of his winnings from Rio Hotel and Casino before the first hearing of the lawsuit on December 1, 2006.[2 At the December courthearing, U.S. District Court Judge Roger L. Hunt rejected a motion by Gold's lawyers to lift the restraining order on the $6 million and ordered the frozenfunds be moved into an interest-bearing account, saying that the "likelihood to prevail" lay with Leyser.[21] Gold did a radio interview on Roundersthe Poker Show[22] following his Main Event win where he mentioned his deal with Leyser. It was later entered into evidence for the lawsuit. On February 6,2007, Leyser and Gold released a joint statement stating they had settled the matter outside of court.[23] The amount of the settlement was not disclosed. OnJanuary 25, 2007, Bodog ended their business relationship with Gold, citing their decision to cease all offline marketing initiatives in the U.S., and insteadrefocus their efforts on growing their entertainment brand in Europe and Asia. Despite that reason for ending their business relationship, Bodog still retainedDavid Williams, Josh Arieh, and Evelyn Ng as Team Bodog members

 

[kuhui]

OP is this your boy??

 

[afivedollarsbuster]

I def. wouldnt let my friend borrow 3 stacks from me specially for that....elnegitivito

 

[tree4twenty]

Originally Posted by recycledpaper

Originally Posted by tree4twenty

Originally Posted by recycledpaper

Originally Posted by DublBagn

Originally Posted by recycledpaper

Originally Posted by DublBagn

I am assuming a few things, he can play fairly well, you trust him and you know nothing about business.....

Does he have any money to match with??? if not, think of it as a business, he as the ideas/skill you have the money...you recoup OG investment and collect 50% of the profits after that.....no cut off!!!!

in reality, I would not give him a cent.....I supported myself for 3 years playing poker and I learned that if he has no money now, he cant be that good.......

i do know a bit about business, but not in the sense of funding and what's appropriate to take. this is where NT really helps, the advice and experience of others can help me a lot. i appreciate your response.

on the other hand, and i know it's lame because you should never involve business, money, and your friends, but in this situation, as a friend, taking 50% for the rest of his poker career is something i don't want to do because i don't believe it's fair. especially since the payout can be significantly greater than the initial investment. for example, if i wanted to start a yogurt place and it only cost 50g's to make and my friend fronted 50g's straight up, if i made 1mil my first year, i wouldn't be happy with giving him 50% of that for the rest of my store's life, just because it wouldn't be fair to me IMO.

its not a matter of happiness or enjoyability.....he cant do something without what you have, in this case funding......I have a friend who took 100k from a friend to start 4 little ceasers pizza joints, he has to cough up 50% of his profits for 10 years then 10% for the life of the business or he has to give one store to the guy......

thats business my friend.....if you dont want to have to worry about that, just charge him interest on the 3k.......3-4% a week is just about the going rate.....

i like your 10% idea and will most likely roll with that AFTER i get a certain amount back with a larger cut. thanks for the info and tips sir!

You think that you are going to get 10% of his poker winnings for life?

1) You're assuming he will make a profit for the rest of his life.

2) You will never know how much he has made. You think if he makes 3K one day he is going to call and tell you?

3) You would need a contract to insure you get your money. GL getting a contract on something illegal to hold up...

If you lend him that money, you're ******ed, IMO.
Matter of fact, once he loses it within the next 2-3 weeks, make another thread asking us how to collect a debt...

Put him to the test - Lend him $100 and tell him to play with 3% of that. Once he makes it into $400, you will lend him 1K and he will play with 3% of that....Won't happen. He will take the $100 and play with 33% at 1 time because he has no bankroll management and you will be glad you didn't do it...

1) Not necessarily for life, it's more of a "eh it's been enough, we'll call it even now." He's a friend, not a business investment, but I'm not going to risk $3,000 without any form of reward.
2) Yes, I do. I guess you just don't have that kind of trust and relationship with your best friends. Money has never come between me and my friends, just ask the dude who I beat in bball 1v1 for $200. Paid on the spot and then we grabbed dinner like it was nothing. Dudes on here were yapping about how we weren't even gonna be homies over $200... lol
3) How is this illegal?

And there is no collecting debt.

$200 in bball and 3K in gambling is not the same....

If 3K is a lot of money to you, then don't do it because it will be gone...
If 3K is not a lot of money to you, go put it on the roulette table instead...
Nothing good will come out of putting 3K onto an online poker site for a guy who claims his previous winning were not enough to cushion a bad run....

Like I said - Put him to the test. Loan him less and tell him to play with 3% of that, just like he is going to do with the 3K and see what happens...

You gotta ask yourself this - Has he been playing with 3% of his bankroll in the past? I honestly don't think so or he would have been able to get past thebad runs in the past. And if not, why is he telling you this AND does he really plan to do it? If he couldn't stick to his limits with a lot less money,what makes you think he can sit down with $20 while he has 3K in his account? Ridiculous.

How is this illegal?
Online gambling is illegal in the US.

 

[ninjallamafromhell]

This has $3000 worth of fail written all over it. If he's asking for money then he sucks at poker.

 

[anthony stark]

Originally Posted by tree4twenty

How is this illegal?

Online gambling is illegal in the US.


Not really, that decision won't be made until June of this year.

Unless the UIGEA gets delayed again.

 

[recycledpaper]

Alright, thanks for all the tips and advice guys. I have read all of it and will decide on something later.

I'll report back with the details. Thanks again.

 

[nktran001]

Word, flip the 3 racks.

 

[dathbgboy]

Don't expect anything major if he wins or don't expect ur $3000 if he doesn't. He'll play the friend card and lets just say, friends, uwill not be anymore

 

[luckyp90]

Is he depending on this for a living or something? Why cant he just play micro stakes to build up his br? Sounds impatient.

 

[nasdaq]

Sounds like an unsound player. If he doesnt have the bankroll to play , he isn't doing it right.

 

[obie21]

i hate online poker

 

[recycledpaper]

Originally Posted by Dathbgboy

Don't expect anything major if he wins or don't expect ur $3000 if he doesn't. He'll play the friend card and lets just say, friends, u will not be anymore

i don't expect the $3000 back if he loses it, i have made this very clear already.

 

[beezylocks]

Originally Posted by recycledpaper

Originally Posted by Dathbgboy

Don't expect anything major if he wins or don't expect ur $3000 if he doesn't. He'll play the friend card and lets just say, friends, u will not be anymore

i don't expect the $3000 back if he loses it, i have made this very clear already.

then y want money if he wins

ur friend probs sucks money will b gone in 2 weeks

 

[lazyjs]

It does not sound like your friend is a sound poker player. If he cannot ride out the bad waves effciently then that says it all. Like the others have said if you really want too or if he really needs it, invest a smaller amount like 500-1K, a good poker player will grind that out into a profit, if he can double his roll a handful of times he should be ok to be on his own and you won't need to lend him 3k. Also, get his online ID and give it here, players can track others results and we can see if he is solid or just full of fail.

 

[ouch my feet]

This thread makes me want to play! I think I will hit the card club tmrw.

Good luck with your investment.

 

[tree4twenty]

How did it go?

How much has he made?

Been a month and a half...He should be up to 20K by now since he had enough to "get through the bad runs".

(Bring on the lies. Poker SN needed for no Ducktales)

 

[kedabowl]

When my financial backer puts me in bowling tournaments the agreement is always the same.

If I make enough money we take the entry fee out and it goes back to the backer, since that is the initial investment. Then whatever is left we split 50/50.

If I make no money, my backer is owed nothing. Its called gambling for a reason, if I lose at the blackjack table, I dont ask for my money back.


Hope this helps you out.

 

[chrisasu28]

Originally Posted by Nasdaq

Sounds like an unsound player. If he doesnt have the bankroll to play , he isn't doing it right.QFT

QFT

 

[carlos tevez]

@ 'investing'.

There are better investments out there.

Luck plays a huge part in poker. I dont care how good and experienced you are.