Staking Resolution - The Bank Of Timex (w-interview)

[The Camel]

+1 to Timex coming across as a massive tosser.

Hope he knocks it right in.

Haha, you make me laugh with these mini rants.

My purpose in life is to entertain.

You should follow me on Twitter.

18,000 mini rants so far, and counting.

[pleno1]

I'm absolutely fucked but.

1- safer to bet with him than 99.9999% of people you want to buy action is as he has legit
Vouches

2- better price

3- lots of people police but he puts his money where his mouth is

[pleno1]

I think it's going to get huge bough, so many people love to punt.

The main event is going to be some crazy exposure.

He is selling in Ivey at 2.0 for most events and people are buying.

He is selling at 1.28 for anybody in he supersonic.

Also if a player is going to be taxed normally on the winnings then much better To invest via timex.

[cambridgealex]

So John sells at 50% 1.5 for a $1k, so $750 of action. Jim buys it all for $750.

Timex thinks John is only value at 1.2. What does he do? Not sure I get it.

Nice interview pleners.

[aaron1867]

John Black?

[Simon Galloway]

Wasn't this the same thing as you and Doobs last year Alex?

[The Camel]

Wasn't this the same thing as you and Doobs last year Alex?

Think Trigg and Dubai did it first about 3 or 4 years ago

[pleno1]

So John sells at 50% 1.5 for a $1k, so $750 of action. Jim buys it all for $750.

Timex thinks John is only value at 1.2. What does he do? Not sure I get it.

Nice interview pleners.

He would then offer the thread somewhere entered between 1.2 - 1.5.

That's exactly how it works.

[theprawnidentity]

So John sells at 50% 1.5 for a $1k, so $750 of action. Jim buys it all for $750.

Timex thinks John is only value at 1.2. What does he do? Not sure I get it.

Nice interview pleners.

He offers the same package for less, and he pays out the winnings should the package come in.

He's basically betting that he can still make money from the buyer selling at a lower price, and by doing so proves that the MU put on packages is too high.

[cambridgealex]

So John sells at 50% 1.5 for a $1k, so $750 of action. Jim buys it all for $750.

Timex thinks John is only value at 1.2. What does he do? Not sure I get it.

Nice interview pleners.

He would then offer the thread somewhere entered between 1.2 - 1.5.

That's exactly how it works.

So he offers it at 1.4, someone buys it all so pays him $700 for it, then he has to pay winnings out of his own pocket. Ah got it.

Assume he will approach people who w/l sold out packages too that he thinks are overpriced.

Yeh Doobs and I were gonna do something similar. I've always thought about stuff like this.

[theprawnidentity]

You have to email him the links to sold out packages and he will offer you a price I believe?

[pleno1]

Theres different ways

1- you approach him and give him a link to a thread. He then gives you 0.5% of any profit he makes

2- he finds a thread which is sold out and he offers people the what he thinks is the true rate

3- you can message him and ask for a price on yourself.

He said he's willing to invest 10m with his friends and will take over 500k of action on the main event lol

[Marky147]

Interesting stuff and good interview tekkers m8

Think he's probably been a millionaire since about 18... I remember when Laddies first introduced 40k nl cash games on the site, he showed up and started smashing them up.

[DungBeetle]

"1- safer to bet with him than 99.9999% of people you want to buy action is as he has legit
Vouches"

The vouches are irrelevant.  The fact is he is laying 10,000-1 shots which means he becomes a credit risk irrespective of his previous unblemished record.

Put it this way.  In the extreme example he sells 20% action in 9 Main Event runners and they all reach the final table, then Timex is bust.  If you've bought action off the players direct then all the investments are underwritten by the prize pool (although at this point we have to consider whether they will scam us, but the point is the funds are sitting there if they are paying out).

[DungBeetle]

"Also if a player is going to be taxed normally on the winnings then much better To invest via timex."

This is indeed true.  But then you must evaluate if it negates the credit risk problem above.  As an aside if an American is selling at 1.5 for the Main Event he is really selling at 3 or whatever the number is once you gross up for tax.