Backing question + bragging
 

I want to make sure I understand backing basics.

Let's say I was backed for some live events for 6.8K and didn't make it to the money. [brag] Then I chopped 2K event for 19.8K score. [/brag]
I was sure that the right calculations are following:
19.8K - 2K = 17.8K (profit)
17.8K / 2 = 8.9 (directly to the backer)
8.9K - 6.8K = 2.1K (my profit)
8.9K + 6.8K + 2K = 17.7K (overall payment to the backer)

But the backer thinks it's unfair to me and insists on 19.8K - 6.8K - 2K = 11K (total profit)
6.8K + 2K + 11K / 2 = 8.8K + 5.5K = 14.3K (overall payment to the backer)
19.8K - 14.3K = 5.5K (my profit)

Am I right thinking he is too generous [img]/images/graemlins/smile.gif[/img]
Sorry for all these long calculations...

Re: Backing question + bragging
 

He is right... (cashes - buyins)/2 is what you get...