by GodlikeRoy » Mon Sep 17, 2007 5:58 pm
Hey all,
I'm going to be playing in the European Poker Tour (EPT) London Main Event on Sept 25th and will be selling part of my action. The reason for this is that my BR isn't big enough to be playing $10k buy-in events by myself. I'm a well established long-term winner in all forms of Poker and estimate my ROI in the tournament to be 30-50%, depending on the field.
The way it will work is on a first-come-first-serve basis where anyone who wants a stake can PM me and we can set up a way to transfer the funds into one of my poker accounts. I will then play the event and post day-by-day updates of my progress. If and when I cash I will transfer the money back to those who staked me based on whatever % of my action they bought. The money will be transferred as soon as possible after I get paid by the EPT.
The minimum of myself that I will be selling to any person is 1%.
The specifics:
The buy-in is £5,200 + £200 which works out to be about 10,842.66 USD using the current exchange rate.
I will be selling each share (1%) of my action for 1.1% of the total buy-in. This works out to be $119.27. This is definitely +EV for all involved.
The exchange rate that will be used will be the rate at the time that I buy-in, so as to be fairest to all involved. I will either buy-in a) on the day before, or the day of, the event or b) sometime between now and the event via my pokerstars account (I am awaiting a reply from them as to whether or not this is possible). I will not intentionally delay buying in on any belief of the exchange rate changing. The above numbers are an estimate but I imagine that they will be very close to the true numbers.
I have sold 19% of myself so far and will sell up to a total of 70-80%.
I am completely trustworthy and a lot of other high-profile BTP posters can vouch for me, many of whom I have met in real life.
For anyone who buys a stake I will PM my real name so you can follow my progress through the EPT website and other updates.
Roy
Poker is silly.
It is not enough to be good at chess, you must also play well.
Somewhere in the world someone is training when you are not. When you race him, he will win.