Staking contract template

[KarlSpakler]

My friend's business partner wants to back me in a handful of live tournaments this fall. Buy-ins will range from $2K to $3K.

As I have only played a couple of tournaments with buy-ins over 5K, and less than 10 events with buy-ins over $1K - I have never been involved with any staking deals am not intimately familiar with standard staking agreements. Nor do I know anybody who is.

I am hoping someone might be so kind as to share this information with me. I would really appreciate it if someone has a contract document that they could email to me. Though I would understand any hesitance to do so.

Any guidance would be appreciated. Feel welcome to PM me.

[ike]

The contract shouldn't be complicated. He buys you into events and gets some % of your winnings. Theres no such thing as a standard % because it depends on how good you are and what events you're playing. It is probable he needs to take 75% or even more to have positive expectation on the deal but stakers rarely ask for this much.

[ForRealDD]

If it's only going to be for a handful of tournaments, it will be higher risk for your backer; in that tournament variance is likely to leave you with nothing after "a handful" of tournaments. 3-1 on % sounds about right. 25% for you, 75% for your backer.

[The-Donk]

Give my name details to him

[KurtSF]

[ QUOTE ]
This is not hard

[/ QUOTE ]

I am not a lawyer, and I just made this up. Copy and paste, fill in the blanks, print twice, and sign:



STAKING AGREEMENT


Scope

This document (the Agreement) is a contract between <his name> (Backer) and <your name> (Player) for financial backing in certain poker tournaments, and for the sharing of all profits from those tournaments. This document represents the entire Agreement, and any amendments must be made in writing and be signed by both parties.


Games

This Agreement is in effect for the following tournaments:

<buyin> tournament at <casino name> on <date>.
<buyin> tournament at <casino name> on <date>.
<buyin> tournament at <casino name> on <date>.

All Stake provided by the backer will be used for the buy-in to these tournaments, and none shall be used for any other tournaments or cash games, nor for any additional expenses including travel or meals. This agreement is only in effect for the above listed tournaments and Player can retain all profit from other tournaments and cash games in which he plays. The Player agrees to preform in good faith and with full intent on maximizing return for both the Backer and the Player. The player is permitted to negotiate a chop of any prize money in these tournaments provided the Player has a reasonable expectation that the value of the chop is greater than the value of playing out the tournament.


Settlement

Any and all profits from play covered by this Agreement will be split as follows: 75% for the backer and 25% for the Player. Profits are defined as any prize money won by the Player in excess of the tournament buy-in. Any prize money that is not profit is wholly apportioned to the Backer.

Backer must provide stake to Player no more than one week and no less than 24 hours before the start of a tournament, otherwise that tournament will no longer be covered by this agreement.

Player must make payment of any split profits or returned stake to the Backer within 1 week of receiving the tournament winnings.


Termination

Once the Stake is in play in a tounament this agreement is binding for that tournament and cannot be terminated by either party.

If the stake is not currently in play in a tournament the Backer can terminate the Agreement at any time for any reason. The Backer can terminate the agreement through written or verbal notification to the Player, either in person or via phone.

If the stake is not currently in play in a tournament the Player can terminate the Agreement solely by returning 100% of the Stake to the Backer.

The agreement is automatically terminated at the completion of all listed tournament and after full settlement is made.


Signatures

The undersigned Backer and Player agree to this Staking Agreement and agree to all terms and condition outlined above.


Backer Signature: ____________________________________ Date: _____________

Player Signature: _____________________________________ Date: _____________

[flavio321]

[ QUOTE ]
The contract shouldn't be complicated. He buys you into events and gets some % of your winnings. Theres no such thing as a standard % because it depends on how good you are and what events you're playing. It is probable he needs to take 75% or even more to have positive expectation on the deal but stakers rarely ask for this much.

[/ QUOTE ]

if the backer is ready to pay for expense 3-1 is reasonable if the player is inexperienced. or have him/her stake you into satellites and have it 3-1 your way.