Prose from a Poshboy

[SuuPRlim]

putting a stop loss on it is a bad idea. if the guy's +EV you have to be prepared to keep backing him or its gonna be -EV for you. You have to be pretty objective with backing, if he's +EV keep going, the minute you no longer think he is you have to cut it off.

I've staked people my small stakes casino comps before and done pretty nicely out of it, exposure is small for the most part, give a guy £300 and every so often he gives you £500 back, nicely nicely lol, agree with matt as well tho not always worth the hassle

[cambridgealex]

3) getting a horsie of my own always wanted to get into staking and I've found one maybe two ideal runners. Just small, the nightly 50£ comps at DTD/alea, but will be an exciting project.

Are you totally fucking nuts?

I honestly wish you all the best but I can't help but fear you'll be asking for staking again yourself within a year.

You've just managed to get a roll together to fund your own poker career. You appear to be a winning player. Why the hell would you go staking anyone else?

Sorry if this sounds harsh but it's happened to many others before and I see no reason why it won't happen again.

Please think about this very carefully. It doesn't take long at all for a horse to get in to a £5k hole even at low buy ins.

I know you'll think I'm just trying to belittle you or something like that but believe me, I've staked and been staked and it's not something to be doing unless you have a much more secure bankroll.

Really?

£5k at local freezeouts with 40-80 runners? 5k is 100 buyins of £50, would take 6 months to even play that many tournaments. I wouldn't go that much in the hole anyway, 2k at most. If it doesn't work out 2k out of 40k roll is not exactly a big hit.

So what if he runs at 100% roi over 40 tournaments?

Your % of 2k added to a 40k roll is hardly a big hit either.

I'm not trying to put a downer on this mate I promise. The downside is admittedly fairly minimal but then so is the upside.

If you put a loss limit on it then it's not too bad I suppose but it's not that easy to do. Once you sack them you've done your money and can't get it back.

Just because they've won nothing for 40 tournaments doesn't mean they aren't still a winning player does it? In theory they should eventually get out but by sacking them they obviously can't.

The temptation will always be there to keep them on. Trust me I know because I've done it.

It's all well and good while the money's there but ask pretty much anyone on here who's staked people long term. It can get very heavy very quickly.

For now it's not about the money I could earn in this one case, which admittedly is not very large and won't make a difference to my roll. It's more for experience, an interesting project, and will be satisfying if he does well. I want to get into staking in the future, so this is a good starting platform.

It stems from my economics interest, used to wanna be a venture capitalist (investing in small/medium businesses to aid their growth) and did work experience in that field and I loved it. I like the idea of spotting some talent, investing in them, watching them grow and be successful and knowing that I helped that, and made a tidy profit from it.

I see what you're saying about having a loss limit not necessarily a good idea from a theoretical point of view. But if he goes on a 40 buyin downswing then I'll decided then whether I want to continue it or not I guess, but that'll mainly be down to whether or not I think I've made a good assessment of his EV.

[pleno1]

+ev is +ev innit.

investmentttttts

[EvilPie]

putting a stop loss on it is a bad idea. if the guy's +EV you have to be prepared to keep backing him or its gonna be -EV for you. You have to be pretty objective with backing, if he's +EV keep going, the minute you no longer think he is you have to cut it off.

I've staked people my small stakes casino comps before and done pretty nicely out of it, exposure is small for the most part, give a guy £300 and every so often he gives you £500 back, nicely nicely lol, agree with matt as well tho not always worth the hassle

OMFG!! What an amazing day I'm having!!

[cambridgealex]

putting a stop loss on it is a bad idea. if the guy's +EV you have to be prepared to keep backing him or its gonna be -EV for you. You have to be pretty objective with backing, if he's +EV keep going, the minute you no longer think he is you have to cut it off.

I've staked people my small stakes casino comps before and done pretty nicely out of it, exposure is small for the most part, give a guy £300 and every so often he gives you £500 back, nicely nicely lol, agree with matt as well tho not always worth the hassle

OMFG!! What an amazing day I'm having!!

bet he doesn't agree that i'll be busto in a year though

[George2Loose]

U backing anyone we know? GL with it Alex. Enjoyed playing cash with you and the other fish on a rare occasion

[cambridgealex]

U backing anyone we know? GL with it Alex. Enjoyed playing cash with you and the other fish on a rare occasion

No, he's a young lad who I met through gala/dtd. Really impressed with his attitude towards the game. He just thinks about things the right way, doesn't have an ego, is very patient and disciplined. He's put a lot of time in online learning more about the game and is really keen to get even better.

[George2Loose]

U backing anyone we know? GL with it Alex. Enjoyed playing cash with you and the other fish on a rare occasion

No, he's a young lad who I met through gala/dtd. Really impressed with his attitude towards the game. He just thinks about things the right way, doesn't have an ego, is very patient and disciplined. He's put a lot of time in online learning more about the game and is really keen to get even better.

Maybe splitting your liability down the middle with someone if you're doing it as a trial rather than to make any serious money?

[cambridgealex]

U backing anyone we know? GL with it Alex. Enjoyed playing cash with you and the other fish on a rare occasion

No, he's a young lad who I met through gala/dtd. Really impressed with his attitude towards the game. He just thinks about things the right way, doesn't have an ego, is very patient and disciplined. He's put a lot of time in online learning more about the game and is really keen to get even better.

Maybe splitting your liability down the middle with someone if you're doing it as a trial rather than to make any serious money?

hmmm can't think of many that know him and how he plays that are in a position to do that. maybe one person. good idea though.

[EvilPie]

putting a stop loss on it is a bad idea. if the guy's +EV you have to be prepared to keep backing him or its gonna be -EV for you. You have to be pretty objective with backing, if he's +EV keep going, the minute you no longer think he is you have to cut it off.

I've staked people my small stakes casino comps before and done pretty nicely out of it, exposure is small for the most part, give a guy £300 and every so often he gives you £500 back, nicely nicely lol, agree with matt as well tho not always worth the hassle

OMFG!! What an amazing day I'm having!!

bet he doesn't agree that i'll be busto in a year though

I'll take 2 out of 3

Hope you're not mate but keep an eye on it.

40k might seem like a lot of money but it's not even a decent year's wages.

Once you get a mortgage, car and all kind of bills 40k won't seem like much at all.

If you can keep that 40k and live off winnings then you're on easy street. Once you start to dip in to it though it'll disappear before you know what's happened.

[boldie]

putting a stop loss on it is a bad idea. if the guy's +EV you have to be prepared to keep backing him or its gonna be -EV for you. You have to be pretty objective with backing, if he's +EV keep going, the minute you no longer think he is you have to cut it off.

I've staked people my small stakes casino comps before and done pretty nicely out of it, exposure is small for the most part, give a guy £300 and every so often he gives you £500 back, nicely nicely lol, agree with matt as well tho not always worth the hassle

OMFG!! What an amazing day I'm having!!

bet he doesn't agree that i'll be busto in a year though

I'll take 2 out of 3

Hope you're not mate but keep an eye on it.

40k might seem like a lot of money but it's not even a decent year's wages.

Once you get a mortgage, car and all kind of bills 40k won't seem like much at all.

If you can keep that 40k and live off winnings then you're on easy street. Once you start to dip in to it though it'll disappear before you know what's happened.

Matt's not wrong.

[cambridgealex]

putting a stop loss on it is a bad idea. if the guy's +EV you have to be prepared to keep backing him or its gonna be -EV for you. You have to be pretty objective with backing, if he's +EV keep going, the minute you no longer think he is you have to cut it off.

I've staked people my small stakes casino comps before and done pretty nicely out of it, exposure is small for the most part, give a guy £300 and every so often he gives you £500 back, nicely nicely lol, agree with matt as well tho not always worth the hassle

OMFG!! What an amazing day I'm having!!

bet he doesn't agree that i'll be busto in a year though

I'll take 2 out of 3

Hope you're not mate but keep an eye on it.

40k might seem like a lot of money but it's not even a decent year's wages.

Once you get a mortgage, car and all kind of bills 40k won't seem like much at all.

If you can keep that 40k and live off winnings then you're on easy street. Once you start to dip in to it though it'll disappear before you know what's happened.

Appreciate the advice Matt

[PizzicatoXev]

U backing anyone we know? GL with it Alex. Enjoyed playing cash with you and the other fish on a rare occasion

No, he's a young lad who I met through gala/dtd. Really impressed with his attitude towards the game. He just thinks about things the right way, doesn't have an ego, is very patient and disciplined. He's put a lot of time in online learning more about the game and is really keen to get even better.

Maybe splitting your liability down the middle with someone if you're doing it as a trial rather than to make any serious money?

hmmm can't think of many that know him and how he plays that are in a position to do that. maybe one person. good idea though.

 

[cambridgealex]

U backing anyone we know? GL with it Alex. Enjoyed playing cash with you and the other fish on a rare occasion

No, he's a young lad who I met through gala/dtd. Really impressed with his attitude towards the game. He just thinks about things the right way, doesn't have an ego, is very patient and disciplined. He's put a lot of time in online learning more about the game and is really keen to get even better.

Maybe splitting your liability down the middle with someone if you're doing it as a trial rather than to make any serious money?

hmmm can't think of many that know him and how he plays that are in a position to do that. maybe one person. good idea though.

 

haha wasn't thinking of you actually. and its probs not who you think it is fwiw...

[PizzicatoXev]

We playing 20 questions or am I getting a pm? lol

Not out tonight as the better half is ill with flu.../sigh