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#1
09-17-2007, 09:17 PM
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Backing question <--- noob
Ok I'm a complete noob when it comes to backing. Have never had an ounce of experience on either end. Plus I don't even know if this belongs in this forum, but whatever.
Well my friend said he'd back my $500 in a live event. We also agreed that even if I didn't cash, I'd pay him back the buy in 100% eventually (like 25 bucks a week or something). If I do cash, what kind of percentage of the profits should he get seeing that he's not really risking too much? 
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#2
09-17-2007, 09:43 PM
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Re: Backing question <--- noob
I've both backed and been backed inside a small group of my fellow players around here and the deal normally struck between us is 50/50 on the winnings, backer deals with the losses. It's the hazard of the game, if he really has that much faith in you, it's an all or nothing type of deal.
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#3
09-17-2007, 10:03 PM
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Re: Backing question <--- noob
If you have to pay him back win or lose, then he's not backing you, he's loaning you money, and you get to keep all winnings. If yo uplan to pay him back over 4 months if you lose, offer him $50 if you cash in lieu of interest. That's a nice 10% vig for him.
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