Will someone please explain to me how staking works?
And how you determine if someone is trustworthy to stake or not?
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Will someone please explain to me how staking works?
And how you determine if someone is trustworthy to stake or not?
Dont stake with people you don't know.. The staking section needs an overhaul (We're doing an outside of the marketplace \ staking upgrade now)Quote:
Originally Posted by United
http://www.pokerowned.com/forums/bgcheck.php
Check that on anyone who begs for a stake
if you are looking to stake someone you agree to send that person a specific amount of money. and also you both agree on what tourneys will be played on that money. then you lay down the rules. examples of rules include must post a bust hand for each tourney, must update the bankroll after each tourney. must ship as soon as tourney is over. can include many other rules. its all up to the people involved in the deal.
as far as who to trust your 1st step should be to use our background check system here. see if the user has multiple accounts, how long they have been here, scam threat, and many other things. if you have any questions just bubble chat me or pm me and i can explain further
ill post some FAQ from my old site tonight about staking (sanitized of all links of course) as the information is still relevant, looking forward to an overhauled system for staking :D I'm sure I'll make use of it
I, for one, would be most appreciative if you did that, s810car. And I'd imagine others wuld too.
Took me a LONG time to dig this out (if you don't know what a database looks like when not running thru a server, imagine a several hundred MB txt file and finding a series of words that of course aren't lined up like a normal post and without spaces and you'll have a little idea, think this was at line 3800 column 180,000 or something lol). Written by someone else (actually the previous owner of my old site), and slightly modified to remove links and site specific stuff.
Staking FAQ
Terms Used:
Stake: An investment funded by one person to be managed by another in the effort to profit for both parties, similar to a stock share in business
Staker: The person funding the investment, in this case, the players bankroll
Horse: The player running the stake
Heeb: A stake with an unspecified buy in range, typically used in cash game stakes or players choice MTTs, not usually for SNG stakes. This may or may not have restrictions based on current bankroll limit or staker requirements
SB: Stakeback, or returning the original stake after completion
Rail: Thread posted and maintained by horse to keep updated information of the progress of a stake
What Is A Stake And How Do I Get/Give One?
A stake is a common term we use to describe a person financially backing another player in a specific event/game on a specific site. An example of a heeb (cash game stake) would be, I will give you $5 to sit down and play NL Hold Em on Poker Stars at the limits of $.01-$.02 with all $5 for no longer than one day. Whatever you have won after that day is considered winnings and I will expect back 50% of all those winnings plus the original $5 stake back. This is commonly then divided by the terms of the stake, a common amount referred is 50/50+SB (Cut as shown as Staker/Horse and Stakeback, or original investment). If you lose, it was on me. Staking can be a VERY profitable venture but can also can be a VERY costly venture. Choosing the right person to stake, is the key to success or failure. Think smart and look at statistics such as ROI and typical buy ins for the selected horse, to see if he/she is capable of playing what you wish them to do
Applying For A Stake
An important thing to remember when applying for a stake, is to read the instructions CAREFULLY! If someone posts a stake for a specific person, PLEASE, don't apply for it unless you are indeed that person. Next, after reading what the staker has posted and what he has requested, if you wish to apply, give as much information about you and your play as possible. This will only increase your chances of receiving the stake. Again, using sharkscope and Official Poker Rankings stats will be a huge boost for you. Lastly, if you are not picked for the stake in which you applied for, don't hold your head, there will be plenty more and your chances of finally getting one will only get better if you follow the rules and do as a staker requests when applying. Remember, just because you are a good player on paper, doesn't always mean that a staker will give it to you. It is their money and you should be respectful to them. Keep on practicing and soon enough the right opportunity will open up for you.
What Is A Rail?
A rail is a common term we use to describe a thread which informs a staker on the progress of a stake you're running for him/her. Upon learning that you have indeed been chosen to run a specific stake, here are a few things that will make your staker VERY happy:
Post that you indeed received the funds to the relevant site the stake was given to you for, with all relevant bankroll accounting information. Important items include: running total, cash gain/loss, terms of finishing stake and cut terms, and thank them for being chosen to play it!
Inform your staker if you plan on playing this immediately or a specific date in which this will be played by. Usually the staker will have a designated time he/she wants a stake played by. Example: "Play this immediately.", or "This needs to be played by Jan. 24th", etc. If it doesn't, a good rule of thumb is to assume they want it played immediately.
Post the ID numbers of the specific SNG/MTT you were chosen to run. If it was a cash game (heeb), post the table name and limits.
Update your staker with big hands in which a significant portion of your stack was lost/won as much as possible. This will show them you're a serious player and also that you respect their money. All-ins and swings changing stack/roll up/down 30%+ are good examples. However, post ANY AND ALL hands the staker requires (some will require only bust hands or even just bankroll updates, and some might want the entire game, which in that case send a email of your hand history you got from that game (you do save your hand histories correct? MAKE SURE as this is a standard requirement, in case the staker has any questions about your play or games, that you have proof of play.)
Once you win/lose the stake, post it accordingly with the win totals or that you indeed lost. If this is a cash game stake (heeb), you should update your staker when you plan on stopping for the day/night and inform him/her of the time you will be re-starting the stake. Also, informing them of thought processes on certain hands, will significantly increase your chances to be staked again. Everyone likes to know what goes through peoples heads sometimes, good decisions and bad.
If you lost the stake, thank your staker for giving you a chance and hopefully you will get another shot, depending on how you played. If you indeed won or cashed in his/her stake, update it in the thread with the total amounts and also inform him/her of the amount you will be shipping back to them immediately.
You're done. You played the stake to the best of your ability, hopefully, and made some cash for you and your staker.
never a stupid question! if u dont ask, u will never now the answer!! welcome to pokerowned!!
Thanks for searching the archives and posting the FAQ, s810car. Very informative!
stupid to stake.. if they can't afford to buy in that is for a reason...........
LMAOQuote:
Originally Posted by jcolee2
Ok buddy because Pros would never use that system....
EDIT - that's probably too hard for you to get Heres something that hopefully you'll comprehend
Plenty of people stake from what I've noticed. Couple of my friends back in NY do it all the time actually.
Some of the best poker pros of all time won by someone staking them.Quote:
Originally Posted by jcolee2
See: Scotty Nguyen, Stu Ungar
I just didn't understand how it worked and safe ways of doing it online.
Well, i reckon that pretty much sums it all up.
How come nobody ever stake me, of all the time ive been here not one penny. i gave out over 50 bucks.
There can be many reasons:Quote:
Originally Posted by DuckU408
1. obscurity: if people don't know you, they can't stake you. Get involved, and you'll be noticed, esp if any good
2. attitude: remember especially on a social site your actions are always watched. now thread/post blowups is an obvious nono, but for instance just today someone complained about a players hostility towards them IN THE POKER ROOM during the freeroll. Always be professional.
3. don't assume helping or staking others out gets you an easy way to be staked. For one, most true professionals only stake OR play, not both. If they do both, one of the activities is definitely casual (professional stakers play casually, and pro players will have some more casual stakes out there then others). Two, what you do with your funds is your business, AS IT IS THEIRS. Respect a potential staker as a person and treat the opportunities as a business transaction.
4. On professionalism - be a businessman about it!! I'll give you an example: I stake out a player, who makes a critical mistake in final 3 tables of the quarter mil, costing tens of thousands of dollars. Im curious about the move (his rail has been marginal at best) and I request a hand history to look in better detail, as he doesn't know I already checked out his opponents tendencies (This is NOT just hypothetical, stakers can and often do check into their investment). Now, if the response is, I'm sorry I am emailing X poker room right now to get it, I might a 1 pass, more if the horse has been EXTREMELY good. If however I get a questionable response (uh it didnt save, idk, ill get in alike a week before the stake is over), I would immediately halt the stake and look to invest in a new horse. Point being: Treat the opportunity as a professional business, because if it goes well, it just may become that
5. Help promote yourself: Why wait for the staker to look at your stats, get them yourself, format them nicely on a spreadsheet organized by game types and buyins, ans start building a resume of sorts. why wait for a stake to save hand histories? start now, and epic hands can be a strong seller of your style play, you could even build a portfolio of your playstyles and organize with roi, itm %, only limited by your creativity
And lastly, realize that this site was never originally optimized for staking (leaving few stakers options before), however Zab is currently working on this upgrade, and that alone will bring the investors, in the meantime, look at list ^ and start getting ready :) any other questions on staking, hit me up in chat (remember #1 up there, go out and meet the scene)
It's basically for entertainment/interest loan capital.
Don't do it very often lost $15.00 CAD doin' it for untrustworthy ppl.
Not really, in actuality think of it as a stock investment, which also applies to your 2nd statement as well: Is it smart to invest in a stock without research? How about all stockbrokers, none of them untrustworthy?? Of course there's an inherit risk to staking, but if they are even a "slightly" better player then you, it's overall +ev, as long as you do the same homework any profitable stock investor does. Now I wouldn't recommend doing it for entertainment value/casually, except in the case of someone selling shares in a larger buy in game/series (also know as BAP, buy a piece). That can be a little safer, as generally they wouldn't have that many people putting enough trust like this without having a at least better than average history of playing and reliably paying back (for casual staking, less homework, however, NOT no homework as there's still a risk if you don't invest wisely)Quote:
Originally Posted by eqgh5uea
i dont like staking in general. it would feel so weird playing anything but super high stakes with someone elses dough
I would only stake someone I know personally in real life myself so that could be part of why someone isn't staking you.
LOL funny answers. Maybe i am not a beggars and looking for a handout everytime i log on. I dont need to go advertise my stats and tell people to go troll my stats and all this ROI. The champ dont need to do all this, people just know. so back to my question, how come i havent been stake one penny ever since im a member here?Quote:
Originally Posted by s810car
uh........ crickets.. i always hated that sayingQuote:
Originally Posted by tracyrickrobby
are poker client points and regular points different i am confused?
nevermind, i didnt realize that to be withdrawn. still a newb :rolleyes:
Ok let's go another approach:Quote:
Originally Posted by DuckU408
A. Not begging, but have you even applied to stakes? I went back thru a bit of your posts, but you have posted a lot, so from going back a few pages I didn't see you apply. can't get what you don't try for. If you used to apply well then...Quote:
Originally Posted by DuckU408
B. You seem to think that because you are a long standing member that people automatically know you
i don't know you from squat, but yes I'm a new member. We also get new members (potential stakers) all the time. Don't assume "people just know". In addition, when I do stakes, I always asked for links to stats. If someone applied, even if I knew them well. and doesn't post stat links, i go right past their apply, because if they can't follow even that simple direction, how can I expect them to do a proper stake or ship back winnings responsibly? Only exceptions I'll make is if BOTH: I know the horse extremely well AND I've seen his work as a horse and am satisfied about it. As well I would have to know their ability on the particular setup for that stake, i'm not gonna stake a PLO game to a NLHE player without stats to back up his play, so save the step and link, or expect to be passed over by someone whom follows directionsQuote:
Originally Posted by DuckU408
C. Lastly,
What did I state about the social aspect of it? Esp. on a forum where people can read up on you at anytime, This kind of attitude is just going to turn off a potential staker, take it a little more serious if you REALLY do want to get long term backing.Quote:
Originally Posted by DuckU408
Obv this site has a way to go before it really is going to have some major players in staking posting up nice bankrolls to potential horses. However provided the upgrades really cater to it, this will happen, and unless you are ready (with the proper attitude and professionalism), you will end up passed over even when you would have been the better player to choose. You can either take the advice, or leave it, doesn't matter to me, but I've seen stakes and BAPs that have went out in the 10k range, and those horses know how to handle their business. It's up to you, if you REALLY want professional backing, become a professional.
Quote:
Originally Posted by DuckU408
After doing some more thinking, based off of my research and opinion, you REALLY need to rethink this part. One advantage of posting your stats is the staker is less likely to look them up on their own, so you can portray them in the best light possible. Hope you get what I'm saying here :)
So many threads & so much to respond to. Any1 selling ACR?
not always. sometimes stakes are done even if that person has a bR. all depends on the ppl involved. Yes some don't have any and as for a stake. but all depends