anyone with experience with staking, please step in

[wizzle 0]

hello. i have been a winning limit hold'em player for a year now, and consider myself to be a good, aggressive player; i am very responsible with playing within my bankroll, but i have not moved up as quickly as some of the other players i am aquainted with... i am married with two kids and have used a lot of the money i have made playing poker to either pay off bills, buy assorted things my family needs, or buy equipment to upgrade the studio i run out of my home (as well as some other fun stuff). i have a friend who is a good limit player himself, and plays much higher stakes than i. when comparing PT databases with him the other day, he offered to stake me at the limits he is playing, saying that i could more than handle my own given his analysis of my play, and while i would love the chance to get over the hump and start playing higher, i am leery of getting involved with a deal like this for numerous reasons:1. he has never staked anyone before, and i have never been staked - therefore, neither of us have a clue as to what's fair or not, or a solid way of reaching an agreement yet.2. i don't have a desire to have to answer to anyone regarding my play, and while this would not be a permanent arrangement of course, the thought of this is not appealing (but something i could deal with given the opportunity to play at a higher level)3. we have been friends for quite awhile, and as a wise man once told me, one of the quickest ways to lose friends is to let one of them stake you... or something like that.we believe if we could make it work, that it would benefit both of us in the long run - him having an equal to directly discuss play with and vice versa, and the opportunity (if i become a winner at this level) to combine and play higher limits off of the same roll - we trust each other enough that this idea is feasible...but the unknown variable is that i have never played at this level, thus of course my success is not guaranteed (at least not immediately). i am confident in my abilities enough to think i could have an edge in any good game, yet i'm not sure how much i like the idea of taking that step with someone else's loot.....sooooo in the event that i decide to accept, what is a good procedure/arrangement for being staked that is fair to both parties? and a timeframe for payment, etc. (keeping in mind that i will be playing 1000 hands or more a day)? your thoughts and advice are greatly appreciated.

[Ron_Mexico 4,220]

Have you consulted with DJ Scribble? What about Kid Capri?Sorry, nothing really to add. Don't mix friends and money. Especially with gambling.

[wizzle 0]

Sorry, nothing really to add. Don't mix friends and money. Especially with gambling.

yes, but they told me to "keep it pimpin and ride on them busters", but thats not the advice i was looking for, so i came here

[wizzle 0]

that being said, i'm sure there have been instances that people have been screwed over and relationships have been ruined, but im also equally sure that there have been instances where two intelligent people were able to make this work to their benefits...

[justblaze 0]

standard stake is 50/50 profit split, he eats the losses. you need to set guidelines for when you get 'paid', what the stop-loss point is, how much input he expects in your decision making, etc.

[AndrewBlack 0]

I keep staking my friend, he keeps losing my money.

[Swift_Psycho 1]

standard stake is 50/50 profit split, he eats the losses. you need to set guidelines for when you get 'paid', what the stop-loss point is, how much input he expects in your decision making, etc.

Is the "standard" deal that he has to pay back the supplied roll first and then they split the 50/50 profits, or that immediately they split everything 50/50?

[pwoblo 0]

If you do 50/50 after every session and the staker takes losses, then the player is goign to make a killing... You have to do weekly or monthly.And to be honest, how much are u going to increase your hourly rate? Why not just stick with 5/10, or 10/20 or whatever u r at with the same bankroll but more tables. Online poker changes everything because of the multitabling. A good 2/4 player 6 tabling can average something like 60 bucks an hour... a good 10/20 player 6 tabling should be making something around 200 bucks an hour. All I'm saying is that the higher the limit, the harder it is to win without thinking... Why not just increase the tables because u don't need to increase the bankroll substantially?

[btlee 0]

never share a roll.have him stake you a set amount ie. $5khe get's 50% of all profit you make on a weekly basis until a point in time where you are able to pay him a lump sum of $7,500 (a 50% profit on his original investment)so as an example over x no. of months you were able to turn the 5K into $20K. he would have been taking 50% of your profit or ($7500)20K gross roll - orig 5K = 15K net profit/2 = $7500THENyour remaining $12.5K roll would allow you to pay him the lump sum $7500 leaving you your own $5K roll to begin keeping 100% of profits.Your friend you have made a 200% profit on his investment (loaned $5K and got back $15K ($7.5K in 50% share and $7.5K in payback)) and you got a $5K roll with no risk.this way if you win a tourney the first day you can just pay him $7,500 and be free. but if it takes a long time his return increases. win win.hope that helps.

[minorityreport 0]

The standard arrangement is either (with little negotiating/bargaining power): (1) 50/50 without make-up or; (2) 50/50 with make up (to be paid when you come in--so the timeframe can be years--but you'll lose your borrowing power if you don't pay up within three or four months). Also, when you do come in, your past stakers will come at you like vultures. The more common arrangement is 50/50 without make up with people who are not your friends, just business associates.With friends you're not formally dealing with a stake, it's more like straight- up borrowing money, so I'd suggest you guys talk it out and see what would be reasonable with both of you, agree to all the terms and write it down somewhere. (more lenient, friendly negotiating power)Months ago, a buddy of mine offered to buy his buddy into a tournament, and he went on to win, but because they were buddies my friend stated, he agreed to 10% of what he won (no-makeup). If he had gone with the traditional 50%, he would have pocketed 20 dimes, and it didn't really bother him because his buddy has helped him out in the past. Arrangements with friends won't turn out bad if you know the terms of your agreement before you hit the ground running and you guys are actually close friends.

[wizzle 0]

thanks a lot for your detailed responses, exactly the type of stuff i was looking for...