Looking for WSOP steps backer.

[matt674]

your graph shows you make a steady regular profit playing regular sit and go's - especially at the range between $40-100.

Why not just get the staking to play those and earn the same money where you have proved to beat variance in the past?

He doesn't need staking for those. He wants staking for steps as his hourly is far greater in those but involves a crap load of variance so wants a backer to avoid the swings.

$20000 is approx 240 goes at step 3 - with standard variance how many step 4 tickets do you think will be won? and again of those tickets how many will be turned into step 5 tickets? and again for step 6?

how can you measure someone's hourly rate when all you are playing for is tickets?

i know you could say if he ends up winning 30 step 5 tickets with the $20000 then that would equate to $21000 but he can't cash them out at this stage

[Dale]

Matt I don't need staking for ordinary SNGs, I'm way over rolled for them and playing them is like printing money for me, all be it slowly.

The steps will have sick sick variance because when it comes down to it most of the money will be won or lost in the Step which are $2,100 SNGs. A coinflip heads up in a step 6 is basically for $11,000. There is a lot of a risk in playing the steps for that reason, I want to make that clear, thats why I'm asking for $20K as a bare minimum, the more money I can throw at the steps starting from step 3 the more I can withstand short term variance.

I can't predict how many tickets I will win at steps 3, 4 etc. over such a small sample size. I make no guarantees. All I can say for certain is that I will play good and have an edge in every game I play, and hopefully that translates into a bunch of step 6 tickets where the cash is.

Remember, with sick variance that doesnt just mean theres a chance I can run bad and lose most of the stake pretty quickly, it also means I could run hot and ship a few Step pretty quickly for a massive profit, works both ways.

[matt674]

cheers

an interesting proposal and i wish you luck - to be honest i don't think i'd ever look at the steps system as a way of trying to make a profit as you can't ever take the cash until the final level.

Do you think that the step 4 and step 5 sit and go's will be that much easier than the regular $200 and $700 sit and go's?

[thetank]

Awesome proposal. Dale could possibly be underseliing himself giving away 14% rakeback and 50% of the profits after stakeback.

Although variance is big in these games, I don't see the backer losing too big a chunk of his $20k very often at all. You get the stakeback first after all, so 100% of any of his cashes until he reaches the $20k point.

Some shrewd balla is going to get an excellent deal here.

[ x ] Wish I had a spare $20k under the bed

[maldini32]

Awesome proposal. Dale could possibly be underseliing himself giving away 14% rakeback and 50% of the profits after stakeback.

Although variance is big in these games, I don't see the backer losing too big a chunk of his $20k very often at all. You get the stakeback first after all, so 100% of any of his cashes until he reaches the $20k point.

Some shrewd balla is going to get an excellent deal here.

[ x ] Wish I had a spare $20k under the bed

I was thinkin same.

[Nakor]

Good luck Dale hope you get the backing you want.

If this goes down the consortium route save some for me please.

[Royal Flush]

What rate do you reckon you will get the W$ for at the point you cashout?

I am guessing a few people will have the same idea....

Does anyone on blonde know Dale personally? Not a slight on you Dale i would just like to know before possibly giving over 20k.

[dino1980]

What rate do you reckon you will get the W$ for at the point you cashout?

I am guessing a few people will have the same idea....

Does anyone on blonde know Dale personally? Not a slight on you Dale i would just like to know before possibly giving over 20k.

Flushy, there's a site i know of that sells W$ at 98% and buys at 97%. Perhaps an individual looking to buy into wsop side events thru stars may pay better, but as a sattelite grinder that's the best i've found in recent months.

[Royal Flush]

What rate do you reckon you will get the W$ for at the point you cashout?

I am guessing a few people will have the same idea....

Does anyone on blonde know Dale personally? Not a slight on you Dale i would just like to know before possibly giving over 20k.

Flushy, there's a site i know of that sells W$ at 98% and buys at 97%. Perhaps an individual looking to buy into wsop side events thru stars may pay better, but as a sattelite grinder that's the best i've found in recent months.

Ah ok that seems ok, was worried that it might drop if loads of people are trying to sell shit loads of them.

If anyone else is interested in going in with me we could do it all through your or my account to save Dale the admin, i would take $10k's worth.

[Dale]

trading $w should not be a problem, after the WSOP stars runs the WCOOP which uses w$ so there will always be trading activity.
there are sites that have set rates and there is a big thread on 2p2 where individuals can trade $w with each other.

pokerstars just added the 2009 Step to the lobby and they are 6max winner take all SNGs with 3000 chips and 10 minute blinds, the rest of the steps look like the same structure they've always been.
stars still havent sent out emails or updated their wsop faq for 2009 so I'm still waiting for that so I will know what the score is for sure and to make sure the first package can be taken as cash.

tank is right about me underselling myself on this deal but I had to make the deal attractive to backers because of the large risk and large amount of money required, I'm willing to give away a whole chunk of ev so I can take a shot at these, I deffinitely wouldnt play them outwith being staked.

also worth pointing out is that for a month last year stars offered double FPPs for WSOP sats, since I am paying $8 per 1000 FPPs earned to my backer this would effectively be 28% rakeback to the backer during such a promotion, I can't say this promo will run again this year but I have heard that info about a WSOP promo will be announced by pokerstars today so watch out for that.

still waiting for approval to post my offer on 2p2, when I do the offer will be open for a week, after that time I will go with the person(s) willing to put the best/biggest backing behind me and then start to grind the games.

as for references from this forum, I met a lot of you at Blonde Bash 2 in Glasgow, I also know a lot of the glasgow players from when I used to play live poker, I'm sure newmanseye can give me a good character reference since he was invited to my home many times to play in private poker games in the last 4 years.

[Dale]

cheers

an interesting proposal and i wish you luck - to be honest i don't think i'd ever look at the steps system as a way of trying to make a profit as you can't ever take the cash until the final level.

Do you think that the step 4 and step 5 sit and go's will be that much easier than the regular $200 and $700 sit and go's?

yes ofcourse, high stakes SNGs have no value anymore as there are very few rich fish playing them, with the steps all sort of idiots manage to work their way up the steps and are effectively forced to play in games that are like 100 times their normal stakes. there will be other good sng grinders at the higher steps but there should be enough fish working their way up to them to give them some pretty good value.

[Royal Flush]

Do you think the 6max format will kill a lot of your edge? Assuming there will always be 3 regs grinding the $2k's it doesn't leave a lot of value.

[Dale]

I hadn't thought about it before now because I really wasn't expecting to see 6max step .

3 regs in a 6max sng is much worse than 3 regs in a 9max sng for sure.

I've asked vip scotty if the normal 9man step will run too, so will wait to see what he says.

Stars servers are rebooting in 10 minutes for some changes, this is outwith the normal wednesday 12pm restart so will probably be to do with the WSOP promotion that's supposed to be announced today. Will see what that brings.

If they are going to only have 6 person step I will have to monitor them for a while and look up stats for everyone playing them so I can judge what the value is, if any, in them. If I don't think there is value I obv won't want to bother with this whole thing.

[TheWhisper]

This winner takes all Step 6 just doesn't look very appealing.
Hopefully they will add something else, do they ever have step 6's for the side events a $1,500 game and $1,500 would be interesting.

[TheWhisper]

Thank you for your email.
 
We will offer the traditional 9-man Step 6 SitnGo for the WSOP as well.
 
As the satellites have just been launched this Step 6 is not yet available
but it will soon be deployed in the lobby.