Jerry Yang on Online Poker

[teddyFBI]

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When I covered the WSOP last year, I overheard a conversation between an online poker room rep and one of the players that had made the final two tables of the ME, but had no sponsor at the time.

The rep offered him $30K to display a logo during the final two tables. If he made it to third place, he would get $100K. Second place, $250K. First, $1 million.

The guy wanted $50K minimum just for wearing the logo and wanted the agreement in writing. Since they were on a short break, the rep told him they didn't have time for a written agreement and he'd just have to take his company's word for it. The player stood firm, and while I don't know what the deal ended up being, it looked like the company might have been willing to up the price. The rep called the big boss, who was in his suite at the Rio, and the two men hurried off to meet him.

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The Poker Royalty guys who approached me also wanted to just do a 'handshake' agreement. had i ended up going with them, i def woulda insisted on something in writing. I went on my own, and absolute sponsored me.
Speaking as a lawyer, "Handshake" agreements are not smart. I can't believe that any agency that wants to take itself seriously would resort to them. At least have a boilerplate agreement drawn up that u can put in front of the player. Protects BOTH of us.

Oliver, how do u do biz?