Staking Agreement

stunnersuh · #1 10-09-2007, 11:55 AM

Hey guys, a good friend of mine wants to stake me for some low limit cash games. He wants to start up a new account with $1000 in it, on PokerStars so I can multitable 50NL FR.

We're both keen on the agreement, but we are having trouble figuring out what a good percentage is that I should take of the potential winnings? I have been a fairly solid winner at 50NL and 100NL on Stars.
We really have no clue as to what is a fair deal for both sides. We plan on running this stake for a few months or so. Thanks for any input guys.

jono · #2 10-09-2007, 12:01 PM

If you're a "fairly solid winner" up to NL100, why do you need an NL50 stake?

stake ends when account hits $3K, he gets $2k, you get $1k. He absorbs any loss.

stunnersuh · #3 10-09-2007, 12:05 PM

I guess it's the fact that I'd feel pretty bad if I lost my friend's money, but obviously I am confident I can make him some money.

Henry17 · #4 10-09-2007, 12:17 PM

If you are a solid player why do you need $1000?

stunnersuh · #5 10-09-2007, 12:29 PM

It's more for him than me. I have my own bankroll and would like to make him a little money where he is willing to take on the entire risk.

poorolrich · #6 10-09-2007, 12:33 PM

If it is more for him than you just charge him per hour at whatever your time is worth.

stunnersuh · #7 10-09-2007, 12:40 PM

I'd appreciate responses that are more related to the question at hand rather than the sanity of the agreement. I've already agreed to the deal, it's just a matter of working out a proper percentage that each person should get. Is that cool?

Henry17 · #8 10-09-2007, 12:41 PM

His time is worth whatever he is capable of earning over a long sample. So that wouldn't work.

If everything stated is true then he should just give his friend money. No matter how the situation is set up in the end that is what he is doing.

Paul B. · #9 10-09-2007, 12:55 PM

People who think they're solid players at low stakes are usually lying to themselves.

a nonymous · #10 10-09-2007, 01:02 PM

[ QUOTE ]
If everything stated is true then he should just give his friend money. No matter how the situation is set up in the end that is what he is doing.

[/ QUOTE ]
QFT

Based on what you've told us, you apparently just want to give your friend some money to help him out. Which is fine, but no reason to do it this way, just give him the money.