Round 2: LAPT Colombia main event auction

[Dubai]

Bear in mind "giving it the big un" equates to laying a huge price bet with very small upsides and a potentially massive downside. Ask how many bookmakers wanna lay a 1 runner book in a 300 runner comp

[The Camel]

Bear in mind "giving it the big un" equates to laying a huge price bet with very small upsides and a potentially massive downside. Ask how many bookmakers wanna lay a 1 runner book in a 300 runner comp

Only time I've done it was Vanessa Selbst wanted to back herself at 30/1 to win the Ladies event at the WSOP.

Just couldn't turn down that opportunity.

[bobby1]

well I don't know where to start, tho I think it is worth noting the difference in your posts at 1 in the morning when you are on it and later in the day when you aren't.

I've never been called Billy Bigtime before, the usual claim I get from friends is I under state what I actually do so I might even take Billy Bigtime as a good thing.

Allowing for the fact what you are proposing would certainly make it into a 'must not do with stakers funds' then I am more than happy for us to construct a prop bet using your sell price which gives anyone that wants to take a bet the chance to know their liabilities when they decide to play.

Simply put, it makes no sense to take your bet when we have no idea of the runners and prize pool.  It does make sense to come up with a str8 prop which I can come up with after consulting Simon G, Dubai, Keith.

A couple of things tho, just so we don't need to throw Billy Bigtime's without putting their money up claims around there would have to be some ground rules. You promise to take stakes to a certain amount, lets say 5k sterling exposure against all the bettors. You can make that a different figure if you want but to be agreed beforehand. Just so I know this is actually a serious bet and not just you trying to call me out when you have had a pint to see if I will play. That max figure to be made up in £250 chunks to anyone that wants to bet. You pay a buyout clause/cancellation clause up front (say 15%) as most of the time this kind of thing ends up with the one calling for the action spending days thinking about it in the lead up to events and wanting out.

To facilitate that you have to post the full amount including cancellation clause amount to someone we agree to hold the cash. No value in having a cash carrier in Colombia when it comes to settling up. That way if you win you get it wired to you( plus the cancellation clause cash you posted), if we win then we get it wired to us.

So if you want that type of arrangement then I am happy to have a bet if you agree to the type, allowing anyone that wants some to play in £250 pieces up to a certain amount and the other conditions.

thanks

ps just to make me feel good about my timing really. I had read your business thread yesterday and tho I don't think it will be that popular in the format you have it in it did spark a memory of something that I had seen in a proposal pitched to me years ago. I had typed a PM to you but got tired and left it unsent so I could finish it this morning, you can fuck right off now  

[jgcblack]

no idea who you are bobby (realise im in the minority) however you are fast becomming one of my fav blondes!!

Jerry, jerry, jerrrry!

[cambridgealex]

You weren't the only one to say it was bad value bobby, the proposed bet wasn't aimed at you, plenty of people said it was bad value.

will give your proposal a proper read through when i have time later.

[smashedagain]

Can't wait till your next auction starts with a reserve of 2.0

You will still sell out

I think bobby is fav in any prop bet you make tho

[cambridgealex]

Not really sure where you're coming from with the £250 chunks, £5k exposure bit and all this buy-out clause/cancellation fee stuff.

It's a simple bet. 5% minimum bet = £116.65, 25% total for sale = £583.25 total. You say how much you want to buy, I transfer the money beforehand, and that means your liable to pay me x% of my gross cash amount in the tournament after tax.

I'm the one that has to trust you, since I'll pay the money upfront and will have to trust you to pay up if I bink, I know for sure that I'm not willing to do that with you as I don't know you well enough to put that sort of trust in you, and you told me to fuck off this morning for no reason (because you thought the post was specifically aimed at you?).

If you're talking about you transferring the maximum amount you're liable for to a neutral party then that could work.

[Doobs]

Not really sure where you're coming from with the £250 chunks, £5k exposure bit and all this buy-out clause/cancellation fee stuff.

It's a simple bet. 5% minimum bet = £116.65, 25% total for sale = £583.25 total. You say how much you want to buy, I transfer the money beforehand, and that means your liable to pay me x% of my gross cash amount in the tournament after tax.

I'm the one that has to trust you, since I'll pay the money upfront and will have to trust you to pay up if I bink, I know for sure that I'm not willing to do that with you as I don't know you well enough to put that sort of trust in you, and you told me to fuck off this morning for no reason (because you thought the post was specifically aimed at you?).

If you're talking about you transferring the maximum amount you're liable for to a neutral party then that could work.

Will lay 2.5% net of tax equivalent to your cash.  Not sure why you believe I need to expose myself to a possible 8k loss but meh. 

No need for the personal stuff.  Cheers

[GreekStein]

Hope you don't mind me thinking out loud here Allington.

I wouldn't have thought many players of your calibre are great value at 1.9 (but I do think you're probably still +EV at that rate).

Let's just say I estimate your ROI at 250%-300% I wouldn't be keen to buy at 1.9 when the rate the player buys in at is 1.0. If you mincash, I make zilch and you make a tidy sum. It'd tilt me.

I know that's almost illogical but I, like several others just wouldn't expect our roi as stakers to be so much less than yours.

I do think several people incorrectly seem to think this isn't value. It is. It's just not the sort of value I'd be looking for. I certainly don't think you should have been criticized for the thread/auction etc.

[The Camel]

Hope you don't mind me thinking out loud here Allington.

I wouldn't have thought many players of your calibre are great value at 1.9 (but I do think you're probably still +EV at that rate).

Let's just say I estimate your ROI at 250%-300% I wouldn't be keen to buy at 1.9 when the rate the player buys in at is 1.0. If you mincash, I make zilch and you make a tidy sum. It'd tilt me.

I know that's almost illogical but I, like several others just wouldn't expect our roi as stakers to be so much less than yours.

I do think several people incorrectly seem to think this isn't value. It is. It's just not the sort of value I'd be looking for. I certainly don't think you should have been criticized for the thread/auction etc.

This post makes nearly zero sense.

[titaniumbean]

It's all pretty lol.


You'll never get to the point where you can prove you have a >300% roi.

If you hadn't sold action for the event it'd be alot more impressive to now be saying 'i'll lay whatever'.

Similarly anyone who says that they think it's not at least 'good value' (ie a chunk above breakeven for w/e your tru WR is) is basically insulting the backers you have already. marv.

[cambridgealex]

Not really sure where you're coming from with the £250 chunks, £5k exposure bit and all this buy-out clause/cancellation fee stuff.

It's a simple bet. 5% minimum bet = £116.65, 25% total for sale = £583.25 total. You say how much you want to buy, I transfer the money beforehand, and that means your liable to pay me x% of my gross cash amount in the tournament after tax.

I'm the one that has to trust you, since I'll pay the money upfront and will have to trust you to pay up if I bink, I know for sure that I'm not willing to do that with you as I don't know you well enough to put that sort of trust in you, and you told me to fuck off this morning for no reason (because you thought the post was specifically aimed at you?).

If you're talking about you transferring the maximum amount you're liable for to a neutral party then that could work.

Will lay 2.5% net of tax equivalent to your cash.  Not sure why you believe I need to expose myself to a possible 8k loss but meh. 

No need for the personal stuff.  Cheers

Because if I won, and after tax got £160k, if you had layed a 5% chunk, you'd have to pay 8k?

I don't understand what 2.5% net of tax equivalent means. I've said 5% minimum.

[George2Loose]

Agree with Titbeam. You're offer would make more sense if you hadn't sold action. And if you think you're value at 2.0 surely you should be buying at 2.0 and not 1.55

[Rupert]

While we are being pedantic, the payout should be the gross amount after tax and FX fees - the amount that the backers ITT would get back. I doubt most good players ROI pre-tax would be 80% in this tournament FWIW.

Am excited to rail this bet though. If there are trust issues then escrow some amount definitely the answer and/or could cap the bet.

[Doobs]

Not really sure where you're coming from with the £250 chunks, £5k exposure bit and all this buy-out clause/cancellation fee stuff.

It's a simple bet. 5% minimum bet = £116.65, 25% total for sale = £583.25 total. You say how much you want to buy, I transfer the money beforehand, and that means your liable to pay me x% of my gross cash amount in the tournament after tax.

I'm the one that has to trust you, since I'll pay the money upfront and will have to trust you to pay up if I bink, I know for sure that I'm not willing to do that with you as I don't know you well enough to put that sort of trust in you, and you told me to fuck off this morning for no reason (because you thought the post was specifically aimed at you?).

If you're talking about you transferring the maximum amount you're liable for to a neutral party then that could work.

Will lay 2.5% net of tax equivalent to your cash.  Not sure why you believe I need to expose myself to a possible 8k loss but meh. 

No need for the personal stuff.  Cheers

Because if I won, and after tax got £160k, if you had layed a 5% chunk, you'd have to pay 8k?

I don't understand what 2.5% net of tax equivalent means. I've said 5% minimum.

Why insist on 5% if you are so sure?  And why mouth off about people not willing to back up their views when I clearly am to the tune of 4k or whatever. 

Net of tax means the same anywhere.  Gross is wrong and leaves an ambiguity.  Net would be 2.5% of whatever you would pay to backers after tax.