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Someone Wants a Piece of Me in the Main Event How Should the % Work?

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  1. weldonj weldonj is offline

    Ithaca, NY
    United States

    Posts: 40
    Joined: Sep 05

    Jun 27th, 2007 (6/27/2007 2:38pm)

    A couple of friends have expressed interest in buying a piece of me in the ME.

    How would such an agreement (1 time deal) usually work?

    So does 10% equal 5% of winnings? That generally is how a long term deal would work from what I understand. They back 100% and get 50% of profits.

    But short term I'm not sure what is fair.
  2. lordxixor101 lordxixor101 is offline

    Westland, MI
    United States

    Posts: 6,364
    Joined: Mar 06

    Jun 27th, 2007 (6/27/2007 3:44pm) in reply to weldonj

    I'm assuming this is the WSOP main event.

    I think it depends on how much they are going to put up.

    So, it costs $10,000 to get in, say you had 2 friends that would put up $1,000. So, in a sense, you have 10 pieces of you (8 are yours, 1 for friend 1, 1 for the other friend).

    I would guess that, if you cash, each friend gets their initial investment back. After that is paid around, The rest is profit. So, it seems most staker relationships are 50/50, so you would get half the money for playing. Then, the other half is split among the investors (including you).

    Now, I think this depends on how much they are putting up. If they are putting up a very small percentage (you are paying 80%), you might just want to skip the 50% of the profits for the player, and just share all profits proportionally. Don't ruin a friendship over a small amount of money (I'm guessing your friends are doing this as a form of a bet and a fun way to support you, so you don't want too many rules and kill the fun. Then again, better to have too many rules than too few, don't want feelings hurt after the fact).
  3. stlouis6 stlouis6 is offline

    Bloomington, IL
    United States

    Posts: 1,984
    Joined: Jun 05

    Jun 27th, 2007 (6/27/2007 3:48pm) in reply to lordxixor101

    Unless you have some really sick results, or would prefer to buy yourself in full just give them equal percents. If one friend gives you 2k give him 20% (or whatever w/ the fee) etc...
     
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