Help: Selling Action in Tournaments?

[RickOSU]

Okay, I just recently qualified for APPT Sydney. This tournament is far far far out of my bankroll and I'm considering selling pieces of myself in order to lock in some profits.

here's some random info for the tournament:
The APPT Sydney is a 6k buy-in. I'm trying to sell off about 1/3 of my action. I definitely the consider myself to be +EV in this field.

Could someone give me some information on standard operating procedure for players selling pieces of themselves?

Thanks.

[Jurollo]

you sell to Timex, run hot for the tourney, timex profits

[A_Junglen]

Selling action is a very individual and personal process. Your situation (one tournament, won a satellite to get in) sounds like a good spot to sell action rather than get into a longterm staking deal.

Basically, you're going to take the buy-in (be sure to convert it to USD), and divide it by 100. If your tournament is a $6k USD buy-in and you want to sell at face value (like some WSOPE Superstars...sigh), then you'd sell 1% of your winnings at $60.

However, depending on your reputation/demand/social netowrk you can sell at a higher % (markup).

This is where having a good group of friends that actually think you can play comes in handy. You message your friends (You do not solicit the forum) and say "hey I'm selling X% for X$.

I'll use a 20% markup as an example, so if you wanted to sell 1/3rd of your action at a 20% markup then it'd look like this:

$60*0.2= $12 (Markup)

$12+$60 = $72 = 1%

72*however much you want to sell (we'll say 33%) 33 = $2376

End Result: You have 67% of your winnings and pay $3,624 ($6,000 - 2,376). Or, since you won your seat, you get $2,376 and 67% of your action.

[RickOSU]

[ QUOTE ]
Selling action is a very individual and personal process. Your situation (one tournament, won a satellite to get in) sounds like a good spot to sell action rather than get into a longterm staking deal.

Basically, you're going to take the buy-in (be sure to convert it to USD), and divide it by 100. If your tournament is a $6k USD buy-in and you want to sell at face value (like some WSOPE Superstars...sigh), then you'd sell 1% of your winnings at $60.

However, depending on your reputation/demand/social netowrk you can sell at a higher % (markup).

This is where having a good group of friends that actually think you can play comes in handy. You message your friends (You do not solicit the forum) and say "hey I'm selling X% for X$.

I'll use a 20% markup as an example, so if you wanted to sell 1/3rd of your action at a 20% markup then it'd look like this:

$60*0.2= $12 (Markup)

$12+$60 = $72 = 1%

72*however much you want to sell (we'll say 33%) 33 = $2376

End Result: You have 67% of your winnings and pay $3,624 ($6,000 - 2,376). Or, since you won your seat, you get $2,376 and 67% of your action.

[/ QUOTE ]

[img]/images/graemlins/heart.gif[/img]

great post.

thank you so much!


p.s.
interested in buying any action?

[XXXNoahXXX]

[ QUOTE ]
here's some random info for the tournament:
The APPT Sydney is a 6k buy-in. I'm trying to sell off about 1/3 of my action. I definitely the consider myself to be +EV in this field.

[/ QUOTE ]

random info would have been who finished 138th last year and the brand of cards they use.

[SteveM]

Hey Adam,

My other thread on this topic got locked (??) so I'll say thanks here. I searched a year back, then ate dinner, then posted w/o noticing my question has been asked already. And I guess it was locked for soliciting? I didn't mean that to sound like I was doing - I wouldn't expect people who didn't know me to be interested anyway - it was just a hypothetical question posed to experienced poker players. Anyway, thanks.

[djcarter66]

Just a dumb noob talking but, why did you play the sat?

Take the vacation, enjoy, have fun, play the tourney and send us back the TR.