So, for the most part, no experienced backer is going to give a full stake to someone, and assume 100% of the risk, for a small sample of tournaments.But when you do see it, it is normally used when there's a big poker series around the corner like the World Series Of Poker (WSOP). This can also involve a big online poker tournament series such as the World Championship Of Online Poker (WCOOP).By the way, if you want to learn how to start crushing major poker tournaments like this, I have already reviewed the #1 advanced poker tournament course available today, taught by the best tourney pros in the world.In package staking deals for a big tournament series both parties have to discuss the terms and conditions which are not all that different from the ones outlined above.However, there are some that are typical of this particular type of staking agreement. These terms and conditions will often include: The number of SNGs/MTTs that are included in the package If there are MTTs around the same time that are not included in the package If for some unforeseen reason the player/stakee did not play a tournament what happens? Can it be replaced with another MTT that wasn't in the initial agreement? Or is the money from that buy-in to be returned to the backer? Through what media outlet/communication method will the stakee inform/update the backer? How are bonuses, rewards and any other “extra” money going to be distributed? I am sure there are many other questions and it will be impossible to cover them all as there are many unforeseen situations that can occur that we can't possibly always know in advance.This is why good communication between a stakee and the backer is absolutely vital to ensuring the success of any type of poker staking agreement. Long-Term Poker Staking Deals These are the most common poker staking deals and normally last between 12 and 24 months.There's a good reason why this type of staking agreement is the most commonly used and it is due to the fact that staking a poker player carries a very high risk.This is because of the variance involved in poker (routine ups and downs that can sometimes last for months), and therefore many stakers prefers longer agreements to compensate for this.In other words, when the staking agreement lasts 12 months or more, there is almost no mathematical chance that the stakee can "run bad" over this time period.Therefore, assuming that the stakee is a long term winning poker player, there is almost no risk involved here for the backer.Also, if coaching is offered within the agreement, the backers need to compensate for this by extending the agreement for a longer time period.This helps to recover all the time and resources invested in the development of the player.Because, at the end of the agreement, the player will leave the partnership as potentially a very solid and consistent big winner, allowing them to continue playing on their own bankroll, while keeping 100% of the profit. So if the backer helped get them to this level of development via coaching, then there needs to be some sort of compensation agreed on about this before the staking deal begins.High quality poker coaching isn't free just because you got staked! Selling Action - Buy-A-Piece (Also Mostly Used for MTTs and SNGs) This is another type of staking agreement on which the player is looking to sell a portion of his/her “action," also known as Buy-A-Piece.This means if a player is looking to spend $1,000 in SNG and MTT buy-ins he/she can sell a percentage and partially cover some of that money.For example, let's say I am putting together a package for the weekend that involves a certain number of tournaments totalling $1,000 in buyins. I then set a minimum amount others can invest in me specifying at the same time what is the maximum amount I am putting up for sale.Continuing with our example above, I can then say something like I am putting up for sale 40% (meaning $400) of this weekend's action for these specific tournaments and the minimum buy is 5% (this would be a piece), meaning $50. In summary, I can sell up to $400 and if someone wants to invest in my package it would be for a minimum of $50.If for any reason I can't reach the pre-required amount money I have planned to spend on buyins I need to state that in the terms and conditions of the agreement. I have the choice of either assume the full risk myself and carry on with the deal or reimburse everybody that decided to participate.Now, in the event that I end up running good and binking some big tournament scores, all money won will be distributed proportionally based on the percentage people invested.For example, if someone bought 10% (meaning $100) of the package he's entitled of 10% of the total amount of cashes. By that same token, if I end up cashing $1,500 in total (remember I spent $1,000 on buyins) then I need to send that person $150.Selling action is an extremely common type of staking found on many poker forums and on staking arrangement sites like youstake.com for example.You basically invest in a good poker player over a series of tournaments and even though you do take on a decent amount of risk, you are riding on the coattails of the high level of poker skill possessed by the horse. My Free Poker Cheat Sheet Teaches You How to Make $1000 Per Month in Low Stakes Games Are you having trouble beating low stakes poker games online or live? Are you looking to make a consistent part time income playing these games?Want to actually create some real consistent profit so that somebody will want to stake you for much bigger limits?That is why I wrote this free little 50 page poker cheat sheet to give you the exact strategies to start consistently making $1000 (or more) per month in low stakes poker games right now.These are the exact poker strategies that I have used as a 10+ year poker pro. And I lay them all out for you step by step in this free guide.Enter your details below and I will send my free poker cheat sheet to your inbox right now. What is Markup in Poker Staking? And Why Do People Charge It? Markup is an additional percentage good players charge based on their previous results for these same types of tournaments, because it proves how profitable they are in that format.It's basically calculated by determining the player's Return On Investment (ROI) for these same tournament types. For example, let's assume I have played around 4,000 of these same tournaments from my package and I have sustained a 20% ROI.This would mean that I have an EV (expected value) of $1,200 so, it is normal to charge up to 20% markup or 1.2 markup. This means that the entire package value is now set at $1,200, and NOT $1,000, because we added the markup in.So, if someone wants to invest in the package at the minimum buy of 5% WITH markup this would be $60 instead of $50. What is a Standard Staking Deal? What Should I as a Player Expect? In my many years of experience under a staking agreement, I can say for sure that the most common terms and conditions for any staking agreement regardless of the format you're playing are:1. At least a 50/50 deal for both sidesObviously the more the better, but this would depend on your experience, past results and your reputation in the poker community.2. Weekly coaching sessionsThis can be either 1-on-1 type of sessions or as a group. Normally they last for 1 hour and during that time the coach will utilize a hand replayer going through the hands of a tournament and/or any hands marked by another player on the team.Nowadays it is common for many stables to offer training videos, accessible through a forum or private section of their website where only team members can access them with a username and password.By the way, if you want to know where to find the best poker training sites available online today, taught by world class elite pros, I have created the ultimate guide for you right here. Poker Coaching Videos for the Stable (Horses) These videos vary in terms of content but in general, they are grouped in:1) Theoretical videos2) Live sessions or Live Sweats (where a coach has recorded himself playing while commenting on their reasoning and the decision making behind each decision)BlackRain79 did this recently with his NL2 Mastery Course for example. You get to watch him play live and explain his decisions as he crushes the games.3) Hand history reviews. It can be an isolated hand a player has some doubts about or it can be an entire tournament.4) Technical videos (where the use of any software programs used in poker to evaluate and analyze decision making is taught, for example, PokerTracker which is widely used by serious online poker players.)5) Psychological videos that touch on the mental aspect of the game which is so often underestimated yet it's easily one of the most crucial elements of any winning poker player. Makeup in Poker Staking Makeup is another common concept in poker staking. Basically it is the amount owed to the backer and it has to be cleared before chopping any profit.For example, let's say I hit a downswing and lose $200. And on the next session, I end up with +$1,500 in profit and I request a profit chop.I need to first deduct the $200 from the $1,500 and chop the difference. What Are Backers Looking For in a Potential Stakee? I hate to state the obvious but backers are mostly looking for a player that can generate consistent profit at the poker tables without having to invest that much time and money in developing their skills.You should be clearly versed in the fundamentals of winning poker strategy for example.Because this of course is the entire point of the staking arrangement for the backer. Just like somebody investing in the stock market, they are doing it to make a profit.So this usually means that the player: Has a proven winning track record at the stakes he or she is requesting to get staked for Has a solid reputation in the poker community Has a positive attitude, willing to work with groups, and help other players Has no problem following guidelines and schedules Why Are Winning Poker Players Looking to Get Staked in the First Place? So why do winning poker players even need a stake anyways? Well, there are a few reasons why.Firstly, these deals make sense for both the player and the backer and I can summarize why in one simple word: Variance!Variance once again are the natural ups and downs in the game of poker that can last months or even years in some extreme cases with tournaments in particular.Staking arrangements help reduce the impact of variance tremendously for the player being staked in particular. The financial support allows them to simply focus on what they do best, playing good poker. Additionally, the vast majority of staking agreements are for MTTs and for one good reason also. Many tournament poker players do not have the discipline to apply the basic concepts of bankroll management (BRM).Because when you use proper bankroll management it can actually to take your risk of ruin (RoR) to a minimum, almost zero. The rules are there for a reason!Why don't many tournament poker players exercise proper bankroll management? This is due mostly to playing outside their limits.And more precisely entering tournaments at higher stakes than they should. In other words, taking shots in tournaments that are well above their average buy-in (ABI).By contrast, cash games typically have much less variance in comparison to tournaments but it still plays a very significant role.Cash game players often have to deal with the emotional distress that causes (inevitably) tilt and prolonged downswings. And, even proven winning players over a large sample, with a healthy bankroll and the right mindset, decide to take on a staking deal for the sole reason to be able to play at higher stakes than usual.This way they can “taste the water” without risking their own hard-earned money nor falling into the emotional abyss that negative variance can cause.At the same time, they can work on their game, studying the high level strategy and poker solver theory necessary to crush these games, without all the pressure of bankroll concerns.There are tons of excellent advanced poker training programs that they can be learning on the side in order to battle the tougher players at higher limits as well.Lastly, in some rare cases a solid winning player may enter into a staking deal due to an unforeseen personal situation causing them to have to spend a large chunk of their bankroll (medical bills for example).And a staking agreement can offer him/her the chance to continue playing at the same buyin levels without having to start building up a bankroll from lower stakes again. The Pros and Cons of Poker Staking Alright, let's briefly break down the pros and the cons of poker staking starting with the pros: Not having to risk your own money. Chance to play at a higher stake/limit than you normally do. Try a new format/variant of poker you are unfamiliar or inexperienced with. In some cases you will get “free” quality coaching. Network inside a community of serious winning poker players. Just focus on your game, you don't get so emotionally distressed by downswings. And now let's look at the cons of poker staking: You're not your own boss anymore. The negative mental impact when being under significant makeup. You have to give away a big chunk of your profit. You can't always play the games and formats you want. You have the contractual and moral obligation to fulfil the agreement including volume requirements. The pressure to generate consistent profit. Should You Consider Get Staked as a Poker Player? Ultimately this is only something that you can decide for yourself. There are many advantages and disadvantages as I just listed.At the end of the day though almost all long term successful poker players get staked at some point in their poker career.[BlackRain79 - I have been staked for higher stakes games at multiple times during my own pro poker career, even though I have rarely discussed it here on my blog].Sure, it is pretty easy to smash the lower stakes games yourself with a simple proven winning strategy.But once you make your way to up to the high stakes games, almost everybody is getting at least partially staked these days.This is something that most casual poker fans don't know. All those million dollar tournament wins you see at the WSOP. Very, very few of them are actually taking it all for themselves.They have to pay their backers back first, because that's why they are playing in that high stakes tournament in the first place. Where Can You Get a Poker Stake? Ok, so you have decided that you do want to get staked as a poker player. Where can you actually get a stake these days?I would say that poker forums are one of the most obvious places to start looking. Most of the big ones like 2+2 have entire sections dedicated to staking.Additionally there are many websites dedicated to poker staking that can easily be found with a quick google search (i.e. youstake.com, chipmeup.com etc).But for me personally, relationships are key within the poker industry. If you want to get the best staking opportunities, it is best to start networking among good players.Social media and forums are usually the best place to do this. Start getting your name known a bit. And more importantly, get some solid results behind you.If you do this, you won't even have to go looking for a stake. Backers will come knocking on your door. Should You Consider Becoming a Backer? (Staking Other Poker Players) Again, this is something that only you can decide for yourself but as an investment opportunity, I think there are some great returns to be made here.Sure the variance is absolutely through the roof in large scale tournaments for example. But who wouldn't want to have say 10% of Daniel Negreanu in the WSOP Main Event?This is one of the winningest live tournament poker players of all time and even though he won't even come close to reaching the final table the vast, vast majority of the time, Daniel has a large edge over nearly everyone else in the field.He even has a new MasterClass poker course showing people how he created more than $40 million dollars in winnings playing tournaments like this.So therefore, there is no question that this is a highly, highly profitable investment even though you will lose your money and receive nothing the overwhelming majority of the time.If you do your homework and research as a backer (just like you would when investing in the stock market or crypto for example), then there is no question that becoming a poker backer can be a highly profitable thing to do.Make no mistake about it. There is big, big money to be made in the poker staking business.There are many people who have quietly made massive amounts of money backing other high profile poker players. Most of them prefer to remain anonymous or under the radar.But there are also many well known legendary backers like Cliff "JohnnyBax" Josephy for example. Cliff is actually a highly accomplished poker pro himself, famously placing 3rd in the 2016 WSOP Main Event for $3.5 million. He also has numerous large cashes especially online. Poker Staking Terminology and Glossary ACTION This refers to the percentage a player is offering to sell to potential investors. BACKER / STAKERIs the person funding a player so he can go and play. BANKROLLNormally applies to the amount of money set aside for playing poker. CUTRefers to the percentage of the profits an investor is due from the player at a particular time and whenever he/she is in the black. DEGENAlludes to a player who gambles away their money by playing without control and reasoning ability. ESCROWMeans a third party who is tasked with holding money for two other parties to guarantee a secure transaction for both. INVESTOR / STAKER / BACKERInvestor is a term used to describe a person who is backing a player. PACKAGEWhen a player puts together a stake that involves more than one tournament it is commonly called a “package.” PIECEHaving a piece of a player simply means you have a certain percentage of a player’s action. PLAYERThe “player” refers to the person being staked. RAIL THREADA rail thread is posted at an online poker forum to allow backers and fans to follow along with the player’s progress in their stake. RESERVEIs a term used when a potential backer wants to lock-up a certain number of shares in a player’s stake before they officially go on sale. ROLLEDThe term rolled in staking parlance refers to being scammed by a player; typically “rolling” is used when a player absconds with the stake money. SCAMMERScammer refers to any person (backer or player) who has a reputation for underhanded dealings. Scamming can range from non-payment, to running phony stakes, to an investor free-rolling a player. SHARESShares are equal percentages of a player’s stake. SHARKSCOPESharkScope (www.sharkscope.com) is an online poker tracking site that specializes in Sit & Go tournaments. SharkScope is useful to check a player’s track-record, as well as for monitoring their progress in a stake. STABLEA Stable refers to the entire contingent of players a backer stakes, and goes along with the term stakehorse. STAKEHORSEStakehorse is an alternative term for the player being staked. SWAPPING ACTIONSwapping action is when two players exchange percentages of themselves instead of each person paying the other. Common Acronyms Used in the Staking Business ITM –In the Money MTT –Multi-Table Tournament ROI – Return on Investment S&G or SNG – Sit & Go tournaments STT – Single Table Tournament MU – Makeup BR – Bankroll BRM – Bankroll Management BI – Buy inABI – Average Buy in EV – Expected value Final Thoughts I hope this ultimate guide to poker staking gave you a good understanding of this sort of underground economy within the poker world.Truthfully, poker staking is something that rarely gets talked about openly in the poker world. So much of it is kept hush hush behind the players and the backers.But it is important that aspiring pros in particular know that staking is a huge part of the game especially once you move up to higher stakes.Most people would be shocked to learn just how many high stakes pros are at least partially staked. It is an overwhelming majority.There are many reasons why this is the case. But the most important is to reduce the variance incurred in high stakes games.Staking is kind of like a match made in heaven for a solid winning player and their backer. Because the player can just focus on the important part, playing good poker.The backer takes on all (or part of) the short term risk for them but at the same time gets to have a share in the profit of a long term winning poker player.Lastly, if you want to know the complete poker strategy that BlackRain79 uses as a 10+ year poker pro, make sure you grab a copy of his free poker cheat sheet. --- This article was written by blackrain79.com guest contributor Roger Marquez. Roger is a small stakes semi-pro from Venezuela with a strong understanding of the math side of the game and poker HUDs. .
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