Proposal to play $24+$2 games on FullTilt

In a nutshell

I’m going to be playing the $24+$2 45 man sitngos on full tilt and am looking for a stake of $3,000 (115.4 buy-ins) to be sold in 10 slices of $300 each.
25% of the winnings and accumulated rakeback will be split up equally among the 10 slices so each slice gives 2.5% of my profits.

It looks like there are around six or seven slices available only. Apologies to everyone for the limited availability, especially those involved in the previous venture who don't happen to be awake and were expecting to make more money from it overall than they did.

On the assumption that 5am people is good people, and because there's no real fair way to do this without breaking the slices into smaller chunks (and I don't want to do that) It's first come first served.
Completely arbitary cap of 2 slices per person at this stage.

Previous stake

As detailed here in this thread.

http://blondepoker.com/forum/index.php?topic=45511.msg1179420#msg1179420

I was recently involved in a staking arrangement to play the $69+$6 45 man games with very mixed results.

The stakers did see an overall profit even after we went bust, but it was very modest unless they had their slices bought back. Two people even lost money (and slices have been reserved for them in this venture by way of compensation. MC is the only man to have lost money overall staking me to play sitngos on FullTilt, and he's only out $200)

Details of other (and considerably more successful) staking ventures on FullTilt can be found in the proposal at the beginning of that thread.

http://blondepoker.com/forum/index.php?topic=45511.0

Selling the $26s

First two pretty pictures.

The first is my overall form in all sitngos on FullTilt

The second is just the $26 45 mans

ROI of 27% after 2,668 games.

There is less of a risk of going broke in this arrangement for 3 reasons.

- The $26s are considerably easier than the $75s.
- The bankroll is slightly larger in terms of # of buyins this time. (115.4 rather than 100)
- The rake is proportionally less at the $26s

The first reason being the major one.

If we do go bust again

As illustrated in my last staking venture though, there is a small chance of going bust and if that happens then that's the risk and the monies will be lost without me officially owing you anything.

If I'm still playing poker though I'll try to be as fair as possible (in this instance I've chosen to reserve slices for the 2 people who lost money overall, MC and Longy, and raise their minimum buyback % for this venture)

I try to do things as fairly as I can, and I believe I offer stakers a +EV oppurtunity.

Do not stake me if you do not trust me to play the last buy-in (if we lose 114.4) with as much will to win as we do the first.
Do not stake me if you do not trust me to treat the funds with respect and not use the $3k as my personal overdraft facility.

Updates

Every Sunday stakers will get a brief note on how many games have been played, how much profit has been made, and my current best estimate of when the 300 game period will conclude.

Buyback

I’ll be looking to gradually buy back the slices one by one during the course of the next year or so. To make the investment worth your while, I offer the guarantee that your slice will not be bought back until the cumulative return on your investment has reached 50%.

If your slice is bought back, the $300 will be returned to you at the same time as the winnings for that period. A full list of the current ownership of the 10 slices will be displayed in your pm at the end of each period.

Withdrawl

At the end of each period of 300 games winning will be shipped and it will be assumed investors want to carry on to the next 300 games.

If you wish to withdraw your stake for any reason then just contact me and your investment will be returned to you at the conclusion of the current 300 game period along with the winnings for that period.

If we ran bad and lost money during that period, your investment returned will not be the full $300 (obv), rather the amount of the current bankroll divided by 10. (for instance if we’re down $500 you’ll get $250 back instead of $300)

Other relevant pieces of information.

Your return will include all winnings from games and all rakeback. It will not include other bonuses, including iron man point value, frequent player point value, leaderboard prizes or prizes from any promotional freerolls I may qualify for .

Except for any promotional freerolls I may qualify for, I don’t use the account to play any other games.

If I lose rakeback from using frequent player points, I take the hit on that. Stakers will receive the winnings worked out as what the rakeback would have been if I didn’t use the points.

You will be informed of any major changes to the arrangement in good time to give you the opportunity to withdraw your investment if you so choose.

I'll be looking to build to playing more than 8 tables, but very gradually, and not at all to begin with because of recent form. (Once I start winning again, I'll think about 9, 10 etc..)

When to begin

Ideally we can start tomorrow night if everyone is able to ship the money by then. Not essential though, but if you can't ship funds by noon on Thurday the right to the slice you reserve will pass to the next person on the list.
Details of where to ship will be sent by pm.