60k "Staking" dispute

[The.Filth]

Okay. I'm a 5/10 grinder that has had some success in the past. I was "yoguh12" on partypoker back in the 10/20 days. This well known player asked me to borrow money. He said he was cash short at the time but had money. So I trusted him and sent him 30k. Then this came up a while later.

him: lemme throw this out there
him: I dont know exactly when these guys are going to pay
him: I would think in a week or two
him: instead of loaning me money
him: would you like some of my action and just BR me on FTP until I get my funds released?
him: stake me and I'll provide makeup if I lose
him: that way it's 100% no loss for you
me: whoa
me: what's in it for you though?
him: I borrowed 10k from someone else
him: and they are freaking out
him: that I'm playing 1 table of 25/50 ring
him: so it might be easier just to deal with you
him: and that way
him: I dont feel bad borrowing 30k from you
him: and I can play more freely
me: okay sure
me: sounds like a win win situation for both of us

So then this guy loses all 60k and said he's real sorry. Then I find out that he's not paying me back because I was "staking" him. I thought he just needed money at the time and would share half of his profits with me because I'm lending him a huge chunk of money and that he would pay me back when the people that owe him pay him back.

So what the hell? He says he was very clear that it was a "staking" and isn't planning on paying me back. But he was playing 75/150 deep stacked with my money. He sold off half the action but that's still a huge game for a 60k roll. I never stake anyone and definitely would not stake anyone to play so much higher than I do. I never take shots at bigger games and this is just giving me a huge headache.

Do you think it was clear that he was asking me to stake him and what do you think I should do?

Thanks for your replies.

Edit --

This convo is copied/pasted from my AIM log so it's verbatim.

[greg nice]

its def not clear in your mock convo there what the exact details were

i wouldnt have shipped 30k based on that convo

[The.Filth]

That was all we talked about. He is a well known player so I just trusted him. I didn't think I was "staking" him so I didn't discuss what limits he should play and whatever. I just thought he was going to send me back 60k when the other people pay him back if he lost.

[greg nice]

well,

"him: that way it's 100% no loss for you "

now that the money is gone, id want to know how this ends up as 100% no loss for you. sounds like you are getting dicked here. oust the name to give the rest a headsup

[Equal]

You'd think that when you are lending an entire year's salary for an average worker to someone, you'd, you know, ACTUALLY figure out the details and crap.

[selurah]

[ QUOTE ]
You'd think that when you are lending an entire year's salary for an average worker to someone, you'd, you know, ACTUALLY figure out the details and crap.

[/ QUOTE ]

Yeah and you should also know the guy well in real life. IMO, loaning out money or staking people that you only know through the internet is real damn stupid. It seems like one of these stories pops up every few months yet people just continue to get screwed. Blows my mind.

[TheWorstPlayer]

what part of

him: stake me and I'll provide makeup if I lose
him: that way it's 100% no loss for you

is unclear? obviously he owes you 60K.

[secader2]

whats the big deal if this was play money

[PurpleLight]

[ QUOTE ]
what part of

him: stake me and I'll provide makeup if I lose
him: that way it's 100% no loss for you

is unclear? obviously he owes you 60K.

[/ QUOTE ]

Probably in the spot where he says he'll provide make up in a staking situation if he loses rather then saying if he loses the loaned money he'll pay it back.

[aislephive]

The way OP made this post DOES make his stake look like he is in the wrong here, but it's clear he is not after you consider everything.

Since Yoguh denied him "makeup," which HE agreed to in the OP, his stake is not responsible for paying him back.