need a fair deal

[JackOfSpeed]

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so if I didnt cash teh following week, would i have to give him the $56 and be in the red again?

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No, you'd keep your $56, but would be another $215 in the hole, and your future cashes would have the $215 deducted before you started splitting profits.

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also, if i happen to cash early, wouldn't he then be freerolling for the rest of the year if i stay out of the red?
thanks again
V

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I'm not completely sure what you mean by this. If you cash early, then obviously you are in better shape than had you cashed while you are deep in the hole, since you actually get your hands on a nice chunk of the winnings (assuming the backer would give you your cut right then and there). But after you each split up those profits from said win, the two of you are basically back to where you started in terms of your arrangement, so I don't see where the free-rolling comes in.

Unless the backer isn't paying you until the end of the year, which I guess is what you are asking. Hmm. Yes, then in a sense the backer would be free-rolling, but he'd be doing it with winnings you (presumably) would not have earned had you not entered into the arrangement. Hadn't thought about that before. Maybe I'm not the best guy to ask about this after all, as I'm not completely sure whether most backers would pay you after a win or wait until the whole term (in this case, a year) was up.