Norwegian Stake

[Pyso]

A regular in my home game and a good friend of mine has offered to stake me next week for the cash games in the Norwegian championships at DTD.

We have a verbal agreement at the moment and we trust each other implicitly. I have explained to him that it is possible that I may not win for the week and he seems ok with this. As far as that goes the plan is that if I am down half of our agreed amount I am to contact him and then we can reassess from there.

The arrangement is 50/50 share of profits, so for me I get to play for reduced profit but with the knowledge that I don't stand to lose anything financially. I am concerned however that were I to run bad, and it is a wild week this one at DTD, that it might put me and my mate in a difficult position in the future.

The money required for such an insane week is a little outside my normal bankroll and I reckon the swings could be more violent which is why I am keen to be staked. The potential to win big is high however so even a 50/50 split might not be as painful as it first seems.

Does any one have any tips or suggestions? This is my first time with regards to staking. My mate doesn't want anything written down, he is happy with a verbal deal.

Has anyone done this before and have it gone tits up? I would be interested to hear of the pitfalls and of any ways of smoothing over any difficulties or awkwardness.

Thanks.

[kinboshi]

The agreement sounds right, as long as your friend is well aware of the potential for you to drop the lot against the wild Scandies.

He obviously thinks you're a +EV bet, and he's willing to risk his money to take that bet.  If you're playing at all scared with his money though, then it won't work imo.  You have to be willing to stick it in ahead knowing that without the absolute stone-cold nuts you do have a chance to lose the lot very quickly (especially if someone one-outers you on the river for a royal flush to beat your turned straight flush ) .  I'm sure he wants you to play your A-game, and just clarify with him that he's happy to lose the lot.

[StuartHopkin]

Exactly what Kin said.
You both have to be sure that not only is he okay with you losing the lot, you want to be pretty sure he doesnt care if you lose the lot.

If secretly he is banking on you doubling his money it could cause problems later.

Am i right in thinking theres no .50/1 next week?

[kinboshi]

Exactly what Kin said.
You both have to be sure that not only is he okay with you losing the lot, you want to be pretty sure he doesnt care if you lose the lot.

Yes, the money has to be 'disposable' for him - otherwise that's a lot of pressure on you.

If secretly he is banking on you doubling his money it could cause problems later.

Am i right in thinking theres no .50/1 next week?

There won't be any .50/1 when the Scandies are in town.  No space for those games.  The 1/2 games take on a different dimension as well...

[outragous76]

you say your split is 50/50 - but dont mention stake - given that this is his 1st stake of you - i would just be up front and say it is stake back then 50/50 split of the remainder

GL

[TheChipPrince]

The 1/2 games take on a different dimension as well...

Straddles galore to be expected?  These will probs be the equivalent of the average 3/6 game perhaps?

[kinboshi]

you say your split is 50/50 - but dont mention stake - given that this is his 1st stake of you - i would just be up front and say it is stake back then 50/50 split of the remainder

GL

It's for cash games, so I assume it's 50/50 of any profit and the stake returned at the end.

[kinboshi]

The 1/2 games take on a different dimension as well...

Straddles galore to be expected?  These will probs be the equivalent of the average 3/6 game perhaps?

Staddletastic.  Right round the table quite often, and many of the players sitting with £3K+ at the table and willing to ship it all in pre-flop with 'questionable' hands.