$1500 WSOP Event 48 - PLO8

[Riddled]

Hi All,

For those of you who don"t know me, I"m a PLO monster with a fairly decent live record. I"ll be selling 70% of myself but would rather have a few people have a sweat as opposed to being someones horse and so will be limiting action to 10% a person.

Would be a 70/30 deal with stakeback in favour of the backer.

i.e. if I min cash for 3k and had sold 70% of myself backer breakdown would be as follows,

original stake back - $1050
share of winnings   -$735
Total                        -$1785

For the backers benefit, I will also absorb all fx costs and transfer fees.


As above I"m aiming to sell 70% myself but will play if I sell at least 50%.

Any queries let me know.

[CW86]

You should probably tell people who you actually are Mike so they will be interested in getting involved....


just a thought

[Riddled]

I thought PLO monster would be enough.

[CW86]

nope, u thought wrong. if u were u id even put your name in the thread title

[PokerRoyalFlush9]

He is a beast........you know you want to snap his action up.....there is a reason I want to be put down for 10% please $150 right?

[Riddled]

$150 is correct good sir.

[PokerRoyalFlush9]

Let me know when you need it.

[Des]

To give yourself the best chance of selling this out Mike, you should tell people who you are - very few will know you by "Riddled" - and point to some of your results.  The APAT ones alone will get people interested, but you are asking them to invest their money in you, so you should make a pitch.

Telling people clearly how much 1% / 5% / 10% will cost them, and how you"d expect payment, is also a good idea.

[Riddled]

If it hasn"t become obvious yet, I clearly have never done the whole staking thing before, and I will now respond to all of the advice have received (many thanks all).

I am Michael Perry, I certainly don"t get to play as much live PLO as I would like, as the game just isn"t there yet this side of the pond. One of my main reasons for coming to APAT is the opportunity to play all these mixed games in a really relaxed atmosphere (again shout out to all the APAT organizers and core APAT crowd).

My results in the live PLO events I have played are as follows,

Aug 2012 - bubbled (I think 12th) the PLO at the APAT nationals - never really got going and got to a spot where I just had to go with big pairs.

Mar 2013 - won it - was never really at risk though I was fortunate that I managed to get in two decent size pots in the run up to final table with my opponent drawing dead.

Aug 2013 - didn"t go deep - can"t recall exactly, but I think I get it in with top set against a wrap and don"t fade.

Mar 2013 - 9th in the PLO8 - lose a massive hand with 3 tables left where I have repotted pre with AAQJ (ds) into AQ109 (os) though I have his suit dominated - board comes 997 - I have a flush draw and he moves in for I think about 2/3 pot. That crippled me and to be honest I was fortunate to hit final table, but some sickness on the other table saw a 4 way all in with 2 people hitting the rail.
               - 2nd in the PLO - had a fairly decent chip lead throughout - critical hand for me was getting it in with top set vs bottom 2 pair vs aces +fd - I held there and moved to like 4/5 times average. Get to heads up with a 2 to 1 chip lead and immediately get it in with two pair vs. miniwrap - he hits the turn and I miss my redraw - swung the momentum in the guys favor, again no complaints about second.


The only reason I am looking for staking is that I will be self funding in to a bunch of other comps, and so would rather take a variance reducing approach to the WSOP event.

Hope this helps and if someone wiser than me could insert a picture of me below this post (cue the hilarity) I would be grateful.

Cheers,

Mike

[Riddled]

In terms of money I will require the money in June and easiest way will be through stars, though can do bank transfer if people need to do that.

% wise

1% - $15
5% - $75
10% - $150

[s4ooter]

Avoided the Rose West pic for you

[s4ooter]

Reserve 5% please

[Riddled]

Thanks Dan on both counts,

for the record, I"m the ruggedly handsome guy wearing the hoody with the 1000 mile stare.

[Chipaccrual]

Thanks Dan on both counts,

for the record, I"m the ruggedly handsome guy wearing the hoody with the 1000 mile stare.

Could you make it easier for us please.

Are you the one on the left or the one on the right ?



I would take a piece of this, but am a little put off that it is a punt on just the one event, when you say you are self funding other events on the trip.  Would much prefer it if you were offering a smaller percentage across all of your schedule to help even out the variance for the backers aswell as yourself.

Not a criticiism, but hopefully useful feedback.



Leigh

[Chipaccrual]

Also your numbers are at best confusing and at worst just plain wrong.


Buyin = $1500

You sell 70% of your action, so backers send you $1050

If you cash for $3000, then you should be returning $2100 to your backers (70% of your winnings)

With your method, you are returning their stake of $1050, and then splitting the profit 70/30, which effectively means you are selling your action at a premium.

If you bink a massive cash, then it becomes a lot less significant, but if you only min cashed, then we"re talking about a $400 swing.

Or am I missing something here ?