Protecting the Staker...

[chesspain]

I've never seen this issue posted about, so I'll ask here:

How are the interests of people who stake players in a specific tournament protected? For example, at the WSOP, is there a specific form which the player/backer complete at registration. Or, do the player and backer sign some basic, self-prepared agreement? Or is everything done via handshake?

[AlwaysAir]

Interresting I'm curious to see the responses from this thread.

[FoxwoodsFiend]

the vast majority of the time it's not even a handshake, it's just a verbal agreement. when i've sold pieces of myself before, i've been asked to sign a contract. i'm surprised how rarely this happens, maybe because some people see it as a sign of bad faith on the staker's part when it's really just a smart acknowledgment of the fact that having to give away hundreds of thousands of dollars might change previously quite honorable people.

[Apathy]

Every deal I've ever done has been handshake/verbal.