Full time staking

Headspace

I am going to try to get backed by a site that stakes winning players. I saw a an ad for this site on 2+2. I will have to prove that i am a winning plr over a certain amount of hands which will take about a month and should not be too difficult at the lower levels. The up sides are obv that you are playing with someone else's money, but you have to split your profit 50/50. They sponsor some well known plrs such as dpommo. I'm want to know what boardies think of this venture, is it fair etc? P.S. I'm terrible at B.R, man and they pay money 25% at end of month 15% every 3rd month and the remaining 10% at the end of the year

Tight Ted

**** that gay ****. Do you really wanna win the Sunday Millions and have to share it with some gay website? If you're so great play with your own money, it's not like online tournaments have massive buy-ins.

Just my 0.02c.

Ste05

Headspace wrote: »

I'm terrible at B.R, man and they pay money 25% at end of month 15% every 3rd month and the remaining 10% at the end of the year

Wouldn't be into this IMO...

also who gets the RB??

Macspower

I know quite a bit about this... I recently refused a job with a staking company as a coach/recruiter....

my reasons were I think it's a real bad deal for the players... deal they offered me was something like player gets 50% of winnings I get 20% of his winnings for referring someone... now when it comes to rakeback this is where they were going to clean up.. they insisted you play on one of their affilliated sites with as much as 60% rakeback... i would get 10% of the rakeback and the company the other 50%.. I was also offered an hourly rate to "coach/babysit" the players...

Deal for a starting player was to get them to play on their own money first and see if they could prove to be a winning player... if they could (company getting rb) then they were staked... deal was initially a 500 dollar a day lodgement to your account cashed out every day and starting each day with 500.. at the end of the week/month the player gets paid 50% of his winnings....

they had different levels where you could move up in your rank and get up to 100% of your winnings..

I felt it was a poor deal for the players but would prob suit decent unrolled player to help get them started.... but in general it's money for them really..
my advice is to start a small roll and grind it up yourslef with a good bonus/rakeback deal...

if you need any more advice on it feel free to pm me..

Mac

Headspace

I did consider the RB but my main problem would be that once you prove you are a winner then the deal should be more in your favor giving away half your mula dose suck. But grinding from almost scratch is not too appealing either!!

NickyOD

Just learn to manage your BR properly. You basically can't progress as a player unless you learn how to do that. I would say 100% of the players who get backed only do it in the short term before they realize giving up half their action is really really dumb.

Also not to be rude or anything but if your alternative is grinding from almost scratch, then how are you gona prove you're worth backing?

Headspace

u hve to lodge $50 dollars minimum on to their site and they track your play if you win over 200 sng's the deal begins. They are called badbeat.com. I'm going off the idea but it might be good for a start you know

SetOverSet

From what Mac says this seems like a bad idea imo. Just start small, like 10NL or whatever, learn some dicipline and BR management and with a decent winrate and a good rakeback deal you'll move up the levels quicker than you think. It'll be much more satisfying, not to mention profitable...

Macspower

as a matter of interest the deal I was speaking about was not with bad beat but a sweedish company... pretty sure they are similar though

hotspur

If you can't build with your own money while getting rakeback then you sure as hell aren't going to be able to build with someone else's giving them 50% and most of the rakeback.

GrangeUtd

I still find it amazing people cant get it together and start with a proper
bankroll. I mean with just 500 dollars you can multitable 10.20c or 5 dollar sgs.
Is it really that hard to get 500$ together. If your serious about poker you should save up put minium 1000$ in an account and start from there with strict bankroll management. There is nothing more relaxing than playing in a game were you are way overrolled. There is so much litereature out there about it. I mean as said before giving up half your action to someone else is just stupid.

Boosh

I've heard of a few people taking up the deal from BadBeat and i can understand that it might look appealing for a newer underolled player but from what i know of the deal you only get half the profits but have to recoup all of the losses. If you have a week of for example 2k profit you get 1k, then the next week you lose 4k,you get nothing. The 3rd week you make a 1k profit and get nothing because you still have to recoup the 1k loss. On top of that your losing all your rakeback. I think just putting some money aside and funding yourself a proper bankroll will be more rewarding even if you are out of action for a few weeks while you get the money together.

RoundTower

if it's a good deal for you they probably won't take you on.

I've heard of a few people taking up the deal from BadBeat and i can understand that it might look appealing for a newer underolled player but from what i know of the deal you only get half the profits but have to recoup all of the losses. If you have a week of for example 2k profit you get 1k, then the next week you lose 4k,you get nothing. The 3rd week you make a 1k profit and get nothing because you still have to recoup the 1k loss. On top of that your losing all your rakeback. I think just putting some money aside and funding yourself a proper bankroll will be more rewarding even if you are out of action for a few weeks while you get the money together.

this is the most ridiculous reason for not liking the deal though - if you had those results you essentially made 2k over not being staked.

Headspace

RoundTower wrote: »

if it's a good deal for you they probably won't take you on.


what do u mean by this

Boosh

this is the most ridiculous reason for not liking the deal though - if you had those results you essentially made 2k over not being staked.[/quote]

But what happens then if you are barely breaking even for a few months after a downswing, your still not seeing any marginal profit from rakeback and your still trying to make up the deficit.

Irish_Nomad

RoundTower wrote: »

this is the most ridiculous reason for not liking the deal though - if you had those results you essentially made 2k over not being staked.

It seems like a reasonable concern to me. It means that your return will be less than 50% unless you never ever have a losing week. You could only gain if you quit after a losing streak and didn't repay them the stake.

Take as an example a 6 week sequence of +3k, -2k, +4k, -3k, +2k, +3k. Total winnings are 7k but your share is only 1k (50% of 12k - 100% of 5k).

RedJoker

Irish_Nomad wrote: »

It seems like a reasonable concern to me. It means that your return will be less than 50% unless you never ever have a losing week. You could only gain if you quit after a losing streak and didn't repay them the stake.

Take as an example a 6 week sequence of +3k, -2k, +4k, -3k, +2k, +3k. Total winnings are 7k but your share is only 1k (50% of 12k - 100% of 5k).

eh no.

Your winnings: +3k, -2k, +4k, -3k, +2k, +3k
You get........: +1.5K, 0K, +1K, 0K, 0K, +1K

So you get 3.5K which is half of 7K which is what you're owed.

Headspace

anyway if anybody care i signed up last night and logged $350. I'm going to play 200 sng's, I cannot stand to grind at lower stakes so it could be great for me to get a roll going, hopefully I get lucky

cooker3

lol, I love that.
Hey guys I am wondering what you all think of this.
Everyone replies it's terrible.
OK I am doing it anyway, thanks!