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Staking questions

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Staking questions

Hey,
I'm going to start staking a player soon, but I've never done this for anyone I don't know.
So I'm going to ask a couple of questions:

-What's the best way to set up an official contract? Is this contract actually worth something in court, or is it really a meaningless piece of paper?

- Does the staker send X amount of buy ins at the first of the month, and then take the profit at the end of the month?

-How do you accurately keep track of results? Is asking for a HUD graph enough?
If the player were to turn off the HUD and play, he'd be a favourite to make money, but he'd be risking his own money.

Thanks.


12 Comments

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Trolldeg 10 years, 6 months ago

I hope linking other forums are okay, but start reading this thread: http://forumserver.twoplustwo.com/135/staking-seeking-stakes/guide-staking-players-cash-games-306028/

I remember more good threads on twoplustwo but I'm on my mobile I can't find them now.

Having a talk with some of the big stakers on 2+2 would probably be a good idea as well. Zima comes to mind. 

Good luck anyhows. Being really selective is probably the key. 


Edit: You should probably read most of the negative feedback thread on 2+2 as well. There are lots of discussions there that are pretty important about staking people. 

Also; Any staking contract I've seen would never hold up in court in Sweden and would probably be laughed at. At best it should probably be seen as some kind of moral agreement. (I don't know about the rest of the world but I'd doubt they hold in court)




arizonabay 10 years, 6 months ago

I don't really know anything about staking chael but I do know graphs can be faked. So I wouldn't stake someone that you don't trust, do some research on the stakee...see if he has had other deals and if so how did those turn out? I doubt you are staking a complete stranger but talking w/ some other people that know him can't hurt. Try to get feel for this players reputation.

GInTheorem 10 years, 6 months ago

Re: the legal basis, in the UK you should be good, gambling contracts have been enforceable for quite a while (per a recent Gambling Act; haven't looked into case law though). Just make sure you include a term about intending to create a legal relationship.

As for verifying results, ideally you'd have access to Russian PTR and if something seems off ask them to forward you Stars emails containing all HHs for the questionable period, TeamViewer audits too.

I've been in 2 staking relationships and both have been over longer periods than 1-month; I don't think a 1-month stake with MU would really work. I chop once a month with my backer and the base BR is 25BI which can be reloaded if I need.

GInTheorem 10 years, 6 months ago
The easiest way is to create a written version of the terms (this need not necessarily be in hard copy) and ask the other person to agree to it. This can be as simple as an email saying 'I agree'. The key to ensuring legal enforceability is including a term along the lines of 'The parties intend to be legally bound by this contract'.


NickNemeth92 10 years, 6 months ago

Thanks for the thread, Chael. I too, am in the market for the first time. I dont have the opportunity to play as much as Id like these days, so I have decided to put some money on other players.

However, one of the guys I am considering is a close friend of mine. He is pretty aggressive, not only when it comes to poker, but as a person. When he heard about that I was in the market as a stakee, he wanted to be part of it. I find myself having a hard time saying no, but I feel I need some advice on where to go from here.

I havent signed anyone yet: If someone itt has any experience with staking friends, do you recommend it or do you advice against it? Would it be better to choose someone I dont know at all, someone I find online? Whats the best approach when signing someone to a deal like this?

Ive put aside 10k as a startup for this project, I would like some advice on how to best put those 10k in use, what kind of program is a roll like that suited for? MTTs? CG? SNG? How many horses would you recommend I distribute the funds over? 

Sorry if this is alot, but its all new to me. 

*If I was to choose to find candidates online, would it be best suited for the forums here at RIO or somewhere like 2+2? I never used 2+2 for more than entertainment.



Chael Sonnen 10 years, 6 months ago

Well, I'm not the best person to ask because I'm also new to it.
But from what I've read, you should set up a contract with your friend. If there are disagreements, it can cost you your friendship, which would be terrible.

NickNemeth92 10 years, 6 months ago

Yeah. I didnt read WCGs guide for staking until now, it all became alot clearer after I read that. Still need some advice for the best formats on how to find someone to stake.

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