Backing Others in Tournaments (Long)

[matt674]

Matt, I am prepared to stake you in your next tournament - please accept this investment.

Lol, thanks mate - i'll be playing the $50 p/l hold'em on pokerstars at 8pm so if you could get the bananas to my treehouse before then that would be great!!

They were & are friends. And I'm almost embarrassed to admit that I made a lot of money out of those investments, though not always from the original deal. They still "swap" with me to this day, how satisfying is that? My judgement as to their ability & character was spot-on. Makes a change, for me!

So basically you knew them as friends before you took to the poker table? You didn't spot someone in your local casino and think "that person has talent and potential, maybe i can "invest" in his future?"

[Rookie (Rodney)]

Thanks Harry. I pretty much concur with your comments, except, I think you've omitted one aspect where backing players has merit.

I refer to newbies, or relative newbies, who clearly have the game to succeed, but need a little help to get on the merry-go-round.

I can think of at least two players who are doing very well now, who I supported via "investment" in their early days. Maybe they would have made it without help, we will never know. But it's immensely fulfilling to go this route, & the "dividend" - cash apart - lasts for ever.

So I've backed several newbies, & if I saw someone who I thought would benefit from such help, I'd do it again.

But as to your main point, you are entirely right. The shameless parasites who wander round before Tourneys "wanna buy x% of me?" need not bother asking. I would never back anyone who asked to be backed. I can lose my money without their help, & enjoy myself along the way!

Glad you are a lttle better Harry, you were not too well last time we spoke.

For the record, Harry is a shareholder in blonde, & has been 100% supportive throughout. We are proud to have him on board.

So if you have never backed anyone who has asked to be backed i take it then that it was you who approached the newbie to offer "investment"?

If this is the case then how did you go about it, did you just go right out and offer at the cardroom?

Also what was it that you saw that made you feel that your money would be well "invested"? (i.e. what do i need to do to get someone to "invest" in me )

They were & are friends. And I'm almost embarrassed to admit that I made a lot of money out of those investments, though not always from the original deal. They still "swap" with me to this day, how satisfying is that? My judgement as to their ability & character was spot-on. Makes a change, for me!

Stop it grandad, you are embarrassing me

LOOOOOOOOOOOL

[Simon Galloway2]

Harry, a few points to make:

1. No doubt most propositions are losing ones - period.

2. There are a slim breed of player that probably could show a profit against the vig - but never have any money due to other leaks.  You could possibly have a great investment there, but I imagine trust issues crop up with a player with a sickness for other -EV gambling...

3. There were murmurs of staked players being used as chip horses - told to make steady progress in the tourny and then dump any time the guvnor needs them...

4. Whilst someone might have no chance to overcome the odds in the long run, there are worse short term punts out there.  The numbers don't particularly matter, if someone has been running well and decides to take a "$100 shot at $10k" for example, they will probably be able to pick a better horse than the 100/1 equivalent you would need to find at Newmarket to return the same.

[tikay]

Matt, I am prepared to stake you in your next tournament - please accept this investment.

Lol, thanks mate - i'll be playing the $50 p/l hold'em on pokerstars at 8pm so if you could get the bananas to my treehouse before then that would be great!!

They were & are friends. And I'm almost embarrassed to admit that I made a lot of money out of those investments, though not always from the original deal. They still "swap" with me to this day, how satisfying is that? My judgement as to their ability & character was spot-on. Makes a change, for me!

So basically you knew them as friends before you took to the poker table? You didn't spot someone in your local casino and think "that person has talent and potential, maybe i can "invest" in his future?"

I befriended them via Poker - usually as newbies who needed a lttle help to realise their potential.

[tikay]

Thanks Harry. I pretty much concur with your comments, except, I think you've omitted one aspect where backing players has merit.

I refer to newbies, or relative newbies, who clearly have the game to succeed, but need a little help to get on the merry-go-round.

I can think of at least two players who are doing very well now, who I supported via "investment" in their early days. Maybe they would have made it without help, we will never know. But it's immensely fulfilling to go this route, & the "dividend" - cash apart - lasts for ever.

So I've backed several newbies, & if I saw someone who I thought would benefit from such help, I'd do it again.

But as to your main point, you are entirely right. The shameless parasites who wander round before Tourneys "wanna buy x% of me?" need not bother asking. I would never back anyone who asked to be backed. I can lose my money without their help, & enjoy myself along the way!

Glad you are a lttle better Harry, you were not too well last time we spoke.

For the record, Harry is a shareholder in blonde, & has been 100% supportive throughout. We are proud to have him on board.

So if you have never backed anyone who has asked to be backed i take it then that it was you who approached the newbie to offer "investment"?

If this is the case then how did you go about it, did you just go right out and offer at the cardroom?

Also what was it that you saw that made you feel that your money would be well "invested"? (i.e. what do i need to do to get someone to "invest" in me )

They were & are friends. And I'm almost embarrassed to admit that I made a lot of money out of those investments, though not always from the original deal. They still "swap" with me to this day, how satisfying is that? My judgement as to their ability & character was spot-on. Makes a change, for me!

I dont get why you would say your embarrassed to say you made some money out of those? You saw something you liked in the player and gave them there chance by "backing" them to a certain extent. You deserve your share for helping give them the chance too.

That's EXACTLY the point. It was not done as a means of making money, there were other motives. The money was a bonus, but a welcome one. Win-Win!

[tikay]

...but we have hijacked Harry's original Post now - let's concentrate on that, please.

I'm a bit hippy-happy today, totally intoxicated by such a stunningly wonderful weekend.

[Harry Demetriou]

...but we have hijacked Harry's original Post now - let's concentrate on that, please.

I'm a bit hippy-happy today, totally intoxicated by such a stunningly wonderful weekend.

But I deserve hijacking especially as I am the one that usually wonders off topic.............

[tikay]

...but we have hijacked Harry's original Post now - let's concentrate on that, please.

I'm a bit hippy-happy today, totally intoxicated by such a stunningly wonderful weekend.

But I deserve hijacking especially as I am the one that usually wonders off topic.............

It's almost obligitary in this place Harry!

Have you had any situations similar to mine, where you've recognized a talent & got involved? I imagine they queue up to ask you!

[Harry Demetriou]

...but we have hijacked Harry's original Post now - let's concentrate on that, please.

I'm a bit hippy-happy today, totally intoxicated by such a stunningly wonderful weekend.

But I deserve hijacking especially as I am the one that usually wonders off topic.............

It's almost obligitary in this place Harry!

Have you had any situations similar to mine, where you've recognized a talent & got involved? I imagine they queue up to ask you!

I think there are a lot of fabulous young players around and I would be queing up to back them except that they are all probably better than me and making zillions already on the internet - haven't quite personally mastered winning consistently on the net yet:-(


I am amazed how many there actually are and I confidently predict that in five years the USa will be teaming with 20-25 year olds none of us have heard of.

[matt674]

...but we have hijacked Harry's original Post now - let's concentrate on that, please.

I'm a bit hippy-happy today, totally intoxicated by such a stunningly wonderful weekend.

But I deserve hijacking especially as I am the one that usually wonders off topic.............

It's almost obligitary in this place Harry!

Have you had any situations similar to mine, where you've recognized a talent & got involved? I imagine they queue up to ask you!

I think there are a lot of fabulous young players around and I would be queing up to back them except that they are all probably better than me and making zillions already on the internet - haven't quite personally mastered winning consistently on the net yet:-(


I am amazed how many there actually are and I confidently predict that in five years the USa will be teaming with 20-25 year olds none of us have heard of.

with the occasional thirty-something "no-name" internet player thrown in too!!

better be careful with these new age-discrimination laws due to take effect soon - you cant say things like "i'd back fabulous young players" 

[tikay]

...but we have hijacked Harry's original Post now - let's concentrate on that, please.

I'm a bit hippy-happy today, totally intoxicated by such a stunningly wonderful weekend.

But I deserve hijacking especially as I am the one that usually wonders off topic.............

It's almost obligitary in this place Harry!

Have you had any situations similar to mine, where you've recognized a talent & got involved? I imagine they queue up to ask you!

I think there are a lot of fabulous young players around and I would be queing up to back them except that they are all probably better than me and making zillions already on the internet - haven't quite personally mastered winning consistently on the net yet:-(


I am amazed how many there actually are and I confidently predict that in five years the USa will be teaming with 20-25 year olds none of us have heard of.

with the occasional thirty-something "no-name" internet player thrown in too!!

better be careful with these new age-discrimination laws due to take effect soon - you cant say things like "i'd back fabulous young players" 

Correct. We must not forget the older players, eh? We'll all be old one day.

[Royal Flush]

...but we have hijacked Harry's original Post now - let's concentrate on that, please.

I'm a bit hippy-happy today, totally intoxicated by such a stunningly wonderful weekend.

But I deserve hijacking especially as I am the one that usually wonders off topic.............

It's almost obligitary in this place Harry!

Have you had any situations similar to mine, where you've recognized a talent & got involved? I imagine they queue up to ask you!

I think there are a lot of fabulous young players around and I would be queing up to back them except that they are all probably better than me and making zillions already on the internet - haven't quite personally mastered winning consistently on the net yet:-(


I am amazed how many there actually are and I confidently predict that in five years the USa will be teaming with 20-25 year olds none of us have heard of.

with the occasional thirty-something "no-name" internet player thrown in too!!

better be careful with these new age-discrimination laws due to take effect soon - you cant say things like "i'd back fabulous young players" 

Correct. We must not forget the older players, eh? We'll all be old one day.

 

[The Camel]

I disagree backing players is a long term losing proposition.

I am well ahead backing players and I have won money for people that backed me (Unfortuantely Harry didn't cop the one time he risked a few quid on the Camel)

I have three criteria for backing players. In order of importance:

1 I like the player.
2 I trust him/her.
3 I think it's a winning long term investment.

I rarely look for backing these days as my bankroll is pretty healthy. The one time I did in the last year was for the 25k event at the Bellagio. There I sold 40% of myself for $12,500. I like to think I have an edge of at least 20% of the field and hence I think the backers had a value investment.

[Harry Demetriou]

[/quote]

with the occasional thirty-something "no-name" internet player thrown in too!!

better be careful with these new age-discrimination laws due to take effect soon - you cant say things like "i'd back fabulous young players" 
[/quote]

These new agei laws seem ridiculous to me (not arguing their merits just that they are so impractical to implement).

What is going to happen in reality? Is there going to be a governement department that goes around fining companies for not employing their quota of oldies?

Does  this mean that there will be no place on application forms for age and date of birth?

I have always been an advocate of "The best person for the job"  regardless of age sex creed or colour etc etc and its a company's own loss if they ever deviate from such an employment practice.


Now back to poker..........

Tikay is not only old but also only a poker player in his own mind ;-)

[tikay]

with the occasional thirty-something "no-name" internet player thrown in too!!

better be careful with these new age-discrimination laws due to take effect soon - you cant say things like "i'd back fabulous young players" 
[/quote]

These new agei laws seem ridiculous to me (not arguing their merits just that they are so impractical to implement).

What is going to happen in reality? Is there going to be a governement department that goes around fining companies for not employing their quota of oldies?

Does  this mean that there will be no place on application forms for age and date of birth?

I have always been an advocate of "The best person for the job"  regardless of age sex creed or colour etc etc and its a company's own loss if they ever deviate from such an employment practice.


Now back to poker..........

Tikay is not only old but also only a poker player in his own mind ;-)
[/quote]

Sigh......

Listen, I got asked got my autograph yesterday, inside the front cover of a Poker book. Truly! Another player had already signed it, & I was curious as to who it was - I'm thinking, who else am I associated with if I sign this?

Answer? Malcolm "the Rock" Harwood. Guess the guy wanted to balance out the ageism thing.....I mean, Malcolm IS old.