This may be a stupid question but...

[United]

Will someone please explain to me how staking works?

And how you determine if someone is trustworthy to stake or not?

[Zab]

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)

http://www.pokerowned.com/forums/bgcheck.php

Check that on anyone who begs for a stake

[tommy62278]

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

[s810car]

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 I'm sure I'll make use of it

[EddieTorr]

I, for one, would be most appreciative if you did that, s810car. And I'd imagine others wuld too.

[s810car]

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.

[tracyrickrobby]

never a stupid question! if u dont ask, u will never now the answer!! welcome to pokerowned!!

[EddieTorr]

Thanks for searching the archives and posting the FAQ, s810car. Very informative!

[jcolee2]

stupid to stake.. if they can't afford to buy in that is for a reason...........

[s810car]

stupid to stake.. if they can't afford to buy in that is for a reason...........

LMAO

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