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#12
08-08-2007, 10:20 AM
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Re: BACKERS....
[ QUOTE ]
Who are these backers? No idea How do you find them? Do they profit? You don't find them, they find you Do they profit? No Can't you scam a backer by dumping in a cash game to a partner? This answers the previous question [/ QUOTE ] 
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#13
08-08-2007, 12:04 PM
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Re: BACKERS....
Its a bizarre thing IMO.
Here's what I know.... I started about 12 years ago playing micro buy in tournaments at the Bike. The had a structure of $13 buy in with $10 re-buys. But the rebuys progressed in value as the levels increased....so first level you start with T200 chips and can rebuy T200 for $10, and then T300 for $10, and in the final period T400 for $10. I ran hot, and played better than anyone else. Anyway, it was super easy to exploit the rebuy process....basically not play a hand until the third level. I would guess that 25-30% of the field in these things were backed by the same two guys. But like I said, the players were horrible. I cashed in 50% of these that I played in(over 200) and final tabled over 30%(only won 8 though [img]/images/graemlins/frown.gif[/img] ). These two guys eventually started backing bigger events. These guys are morons and degenerate effin gamblers. They back homeless guys and other players who suck at poker. I don't know where they have their money from, but they lose. They lose when they play, and they lose when they back players. Occasionally one of their many horses hits a big score. Overall, they help fund many of the Los Angeles area tournaments with buy ins to $300. One night I was at Bellagio. It was a slow night and I could hear everything going on in the poker room. My $15-30 table was near where Bobby's room is. A early 20's guy I have never seen comes out and starts talking to a middle aged guy in a polo shirt about what staking is and how it works. He spends about 10 minutes explaining that he gets staked and what the middle aged guy would need to do to stake players. I consider this "hustling", but what do I know? Anyway, he eventually gets the guy to partially stake him and another pro. I really don't see how staking tournaments is +ev for the backer. Unless he recoups prior staking amounts once the player wins. But I don't think it works that way.
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