Online backing

[SmokeyRidesAgain]

Start saving some of the rakeback in a clean account and give it to him when he bustos.

[cardman]

I wonder if your friend played well (in terms of generating rake but breaking even) because he knew he had to keep the bankroll over $800 in order to keep any winnings. So he played more careful. Maybe he'll take more risks and go busto faster once you offer him more generous terms. lol.

[jcg2005]

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Start saving some of the rakeback in a clean account and give it to him when he bustos.

[/ QUOTE ]

I think this is a great idea. Why not buy PT and PAHUD with it and help him get better?

[DeezNuts]

Thanks for the responses.

To clarify, he is a very good friend of mine(close friend for past 16 yrs) but has no job, in debt a lot due to Party Blackjack(can't make any online accounts), and very addictive personality.

Currently he is up $1500 on my account. I was bit perturbed at him when he was down $600 and didnt tell me, as I previously had $5800 in my account and I told him he should tell me if he gets anywhere close to -$400 he should tell me(I was afraid he would go down even more and wouldnt be able to pay me back for a while). After I found out that he was down a lot, I transferred $5k out so it couldn't be touched and left the $800 in. He subsequently made it all back +$1500, which is where we currently stand.

I will probably give him a %, as this is not a "business" deal for me. I am financially secure(albeit in grad school and making no money) and he lives at home and needs money for school.

The agreement about rakeback was more like "oh hey you know, any money you make on rakeback is mine" to which he replied "oh yeah, sure". It was very casual. I didn't even really expect more than $200, though. So, basically the two options I am looking at are:

A) Keep the $850 this month and offer him 50/50 on future months
B) Give him $400 for this month and offer 50/50 on future months.
C) Hold the $400 and all future 50/50 until he gets his life in order(although him doing this is not likely and I don't want to be his babysitter)

Keep in mind that I'm really not doing much other than offering a $400 BR and a username to play on at FT. I don't want to screw a friend(although I have helped him many times with loans in the past, given our situations).

Edit: He is not a bad player, but has very bad bankroll management skills and a decent problem with tilt. He will constantly try to play 8-16 when he has as little as $500 in his BR.

[mosquito]

A)

Assuming you really are great friends.

You are in good shape and he gets the money w/o the mothering. Do you want to take over his finances? I thought not.

Actually, once he goes over like 5K in rakeback I'd give him an even bigger percentage. The only reason I'm holding any money right now is so that I can back him again if he goes busto....

[Gunnarr]

Id offer him 50 percent of the rakeback generated each month as cash and let him play the account until he busts it or turns it into 10k or something. Once its at 10k he gets half. This 5k one time payment may allow him to attack some of his debts aggressively.

[Rek]

[ QUOTE ]
Thanks for the responses.

To clarify, he is a very good friend of mine(close friend for past 16 yrs) but has no job, in debt a lot due to Party Blackjack(can't make any online accounts), and very addictive personality.

Currently he is up $1500 on my account. I was bit perturbed at him when he was down $600 and didnt tell me, as I previously had $5800 in my account and I told him he should tell me if he gets anywhere close to -$400 he should tell me(I was afraid he would go down even more and wouldnt be able to pay me back for a while). After I found out that he was down a lot, I transferred $5k out so it couldn't be touched and left the $800 in. He subsequently made it all back +$1500, which is where we currently stand.

I will probably give him a %, as this is not a "business" deal for me. I am financially secure(albeit in grad school and making no money) and he lives at home and needs money for school.

The agreement about rakeback was more like "oh hey you know, any money you make on rakeback is mine" to which he replied "oh yeah, sure". It was very casual. I didn't even really expect more than $200, though. So, basically the two options I am looking at are:

A) Keep the $850 this month and offer him 50/50 on future months
B) Give him $400 for this month and offer 50/50 on future months.
C) Hold the $400 and all future 50/50 until he gets his life in order(although him doing this is not likely and I don't want to be his babysitter)

Keep in mind that I'm really not doing much other than offering a $400 BR and a username to play on at FT. I don't want to screw a friend(although I have helped him many times with loans in the past, given our situations).

Edit: He is not a bad player, but has very bad bankroll management skills and a decent problem with tilt. He will constantly try to play 8-16 when he has as little as $500 in his BR.

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Whoa - stop right there. You let a guy like that have access to an account with over $5000 in it? Are you mad.

I said earlier if he was a good friend let him have 50% of future rakeback and profit and I still go with that. But friend or no friend access to all that money was madness and you did right in transferring it out.

He is obviously addicted and will find ways of playing with or without you. There is more than 1 site to play so keep this 1 account for the joint venture with your mate. Keep in regular contact with him about it and discuss limits, BR requirements and keeping within these. You might just be able to instill some discipline into him as he will know it is half your money. Who knows you might go some way to helping control or at least focus the addiction in a more positive way as well as being quite a nice little earner.