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How to deal with rakeback as part of a backing deal?

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  1. JonBon-10 JonBon-10 is offline

    Dunfermline
    United Kingdom

    Posts: 521
    Joined: Apr 08

    Jul 17th, 2010 (7/17/2010 4:17pm)

    I have recently entered into a backing deal with a friend whereby we have each invested 50% of a total BR, with which I will play. I am not looking for advice with regard how to split profits, as we already have an agreement. I just wondered if anybody had any thoughts on how we should deal with rakeback? Should there be a seperate agreement, or just split rakeback in the same manner that playing profits are split? Should it be split at all?

    Thanks for any help
    Edited By: JonBon-10 Jul 17th, 2010 at 04:18 PM
  2. Reoknows Reoknows is offline

    Portland, OR
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    Jul 17th, 2010 (7/17/2010 4:20pm) in reply to JonBon-10

    I have no experience with this but seems like you should get it all. Kinda like a person who travels for business gets to keep the sky miles.
  3. wackyJaxon wackyJaxon is offline Admin X

    Vilnius
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    Jul 17th, 2010 (7/17/2010 4:25pm) in reply to JonBon-10

    Just depends on what you agree on.. I know backers that count the rakeback and fpps as part of the money earned to go against make-up and to be split as profits, and I know many that do not..

    What you are describing though isn't a backing deal, he is just giving you 50% of buyins for 50% of whatever is made or lost with no make-up, etc. If it was one tourney, I would say f the rakeback here, but if it is a long term thing, I would personally want rakeback, bonuses, freerolls to be included.. Once again, its whatever you and your partner agree to..
    Edited By: wackyJaxon Jul 17th, 2010 at 04:25 PM
      1 
  4. JonBon-10 JonBon-10 is offline

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    Jul 17th, 2010 (7/17/2010 4:31pm) in reply to wackyJaxon

    yes wacky, you are exactly correct, that is more or less the type of deal we have, no make up etc. It will be a long term thing, and I thought I should therefore include rakeback/bonuses as part of the deal, I just wanted to check if this was 'normal'. Like you say, I will make an agreement with partner, I just want the deal ot be as fair as possible for both parties
    Thread Starter
  5. houston_wildcard houston_wildcard is offline

    Las Vegas, NV
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    Jul 17th, 2010 (7/17/2010 6:10pm) in reply to JonBon-10

    Since you are putting up half the money, you should get a salary. Rakeback seems to fit perfectly for paying the salary.
  6. MadTiger MadTiger is offline

    Akron, OH
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    Jul 17th, 2010 (7/17/2010 6:23pm) in reply to Reoknows

     
    Originally Posted by Reoknows View Post

    I have no experience with this but seems like you should get it all. Kinda like a person who travels for business gets to keep the sky miles.

    This.

    Does he want the aluminum cans you pick up when you go for walks, too?
  7. xxbossmanxx xxbossmanxx is online now Plays poker like a X-Boxxx

    Detroit, MI
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    Jul 17th, 2010 (7/17/2010 10:06pm) in reply to MadTiger

    No backer is getting my fkn FPP's
  8. jusqwan jusqwan is offline

    Charlotte, NC
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    Jul 17th, 2010 (7/17/2010 10:45pm) in reply to xxbossmanxx

    personally i would say rakeback split amongst the 2... but bonuses and fpps etc, should be your "bonus" IMO
  9. okse54 okse54 is offline

    New York, NY
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    Jul 18th, 2010 (7/18/2010 3:15am) in reply to jusqwan

    there is no correct or incorrect answer here

    its whatever you guys decide amongst yourselves
     
  10. dant734 dant734 is offline

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    Jul 18th, 2010 (7/18/2010 4:46am) in reply to okse54

    I think you should keep them all your the one playing
     
  11. kanders10 kanders10 is offline

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    Jul 18th, 2010 (7/18/2010 4:50am) in reply to dant734

    if he was funding you 100% than you should be including rakeback/fpps to makeup/running br....in this situation i think your at higher risk and rakeback should be kept seperate for you personally.
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