| Posted by: Jack Daniels at September 3, 2006, 2:48 pm | | Topic: Poker Sponsorship Between Friends Forum: Card Chat |
ZinZan has an interesting idea with % reduction everytime you cash.
I think the big thing to keep in mind here is that it doesn't so much matter what the agreement is as much as it matters that you both agree to and abide by it. Friendship is great and backer/sponsors helpful, but business and pleasure do not mix (nor a good combination make). Remember the old saying that there are no friends at the poker table? Well it similarly applies here too.
I don't object to taking a sponsor, but I would highly suggest that any type of deal get put in writing and signed by both parties. Make sure ALL details are spelled out on who get what and how, etc. This way no one gets slighted and no feelings are hurt. Case in point, look at Jamie Gold and the stupidity that lead to his current situation (based on the details that we know). I know that this wasn't a friend that he got into it with, but a written contract with all obligations, payouts, etc would have been huge right now.
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| Posted by: zinzan1000 at September 3, 2006, 2:39 pm | | Topic: Poker Sponsorship Between Friends Forum: Card Chat |
50-50 is about right to start off with.
One idea would be to have an agreement that everytime you cash, the investors cut goes down by 5% until such a time that it isn't worth the investment anymore.
That way you both know where you stand from the get go and there is less chance of a fall out with your friend.
If things don't work out when you go it alone, I'm sure this investor/friend would be willing to invest once one.
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| Posted by: ChuckTs at September 3, 2006, 7:06 am | | Topic: Poker Sponsorship Between Friends Forum: Card Chat |
It's usually split 50/50 between the backer and the player. Seems like the fairest split; the player does all the work, but the backer funds him.
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And if the player is winning what does he do with his winnings? Go into his own tournys (ethical???) or keep with the investor? Or another option?
Well that depends on the player; is he hoping to start a new bankroll? or maybe add to an existing one? maybe he's just in it for some spending cash and only wants one game staked...
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| Posted by: Discopatrol at September 3, 2006, 6:56 am | | Topic: Poker Sponsorship Between Friends Forum: Card Chat |
Just wanted to get some opinions on the usual agreement of sponsorships.
If one party is putting up 100% of the buy-in for tournys and the other party playing them, what is the usual split? 50/50? 60/40? (60 going to the investor?)
And if the player is winning what does he do with his winnings? Go into his own tournys (ethical???) or keep with the investor? Or another option?
Thanks.
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