Becoming a backer

[Donk_Vader]

What criteria would you deem necessary for a horse? I want to become a backer and I would like advice from people who do this/have done this.

[RikaKazak]

I used to do this a lot, but what I learned was...it's not very profitable nor really worth a backers time (unless it's for MTTs)

You looking to do it for cash games or mtts?

[Donk_Vader]

Originally Posted by RikaKazak

I used to do this a lot, but what I learned was...it's not very profitable nor really worth a backers time (unless it's for MTTs)

You looking to do it for cash games or mtts?

Anything really, I just want to show profit with whatever I back someone with...You say it's not very profitable, why is that? I'm just trying to make a steady profit it seems like it would have a better ROI than any bank account would....

[RikaKazak]

Some random things to be aware of:

1.) people scam a lot when getting backed. Either they "fake lose" or they don't pay up when they win, etc. etc.

2.) it's VERY time consuming (making sure people pay and checking on results and transfering etc.)

3.) If a NL400 player went busto...it would literally only take them 1-2 months before they'd have a full roll back and wouldn't need staking. So your turnover ratio is HIGH!!! (meaning you have to market someway without attracting a bunch of "time wasters")



I'm not saying you can't do it and be profitable. It's just REALLY hard to be a successful cash game staker due to the tiny bankroll requirements. Every successful staker I know ONLY does mtts.

(hit me up on skype and I can explain it WAY better then I can on here...it's too long/complicated to type out imo)

i've backed a decent amount of people over the years, now i only regularly back people i know very well in real life and trust 100%. be careful and gl.

[stockton]

Back leggo coaches when they need $ for MTTS, probably best bang for ur buck

[Donk_Vader]

Originally Posted by stockton

Back leggo coaches when they need $ for MTTS, probably best bang for ur buck

Doesn't sound like a bad idea actually...

[stockton]

Originally Posted by stockton

Back leggo coaches when they need $ for MTTS, probably best bang for ur buck

To be clear, I didn't write that. James Ma did when I was logged in at the house.

[JamesMa]

to clarify i made a couple posts under mike's name by accident, wasnt tryin to hustle. I editted the one in my video response earlier but missed this one. srry for ne confusion

[SlowHabit]

If you have the time and contacts to find the right horses, backing can be a very profitable business, especially when you compare to other ventures where your money doesn't grow very much. However, backing is also risky business because you can't track everything and basically leave it up to trust. When there's money involved with people who don't have money, this is far from ideal.

The type of candidates I would look for is talented players who win at poker but are allergic to holding on to money. Two examples I can think of is ashman and Rekrul. I don't know them personally but from what I've read from their blogs/posts, they want the thrill of the action. There's nothing wrong with this. The only problem is there are a lot of people out there who will take advantage of their need for action and fleece them.

Btw, ashman and Rekrul are two of my favorite people in poker :-)