Shares of kid in a world series of poker event. 2011

[kidpoker]

This year i will be selling shares of myself, if anyone is interested, in two of the world series of poker events in vegas next month. Basically the premise is you can buy a share for any amount of money in the amount of 10's up to 300.00. THe tournament i will be playing in for this will just be a 1000.00 buy in and 1500 buy in. Details below. The best part about this is if you do buy a share, you will be able to track how i am doing as i play as long as i make it to day 2. On day one they have updates but it doesnt show everything live. But there will be the list of peoples names that bought in to show i am in. I did this last year and with over 3000 people entered, i finished just a little worse than 600 something. It took around 400 something to get into the money though.

1. 1500 buy in. Tournament number 12 on June 7th.

2. 1000 buy in. Tournament number 20 on june 12th.

3. 100% of each share will be paid out in prize money after taxes. (example, if you buy a 100 share on the 1000 buy in event, that would be 10% of the buy in amount so you would get 10% of the winnings after taxes. lets say I won 100,000, 10% of that is 10,000 you would recieve. All amounts will be in USD to make it easier since the payments to buy in and payout are usd.

4. Tournament Results | Official World Series of Poker Online
this is a link to the prize money of an event 2 years ago for a 1000 buy in. Usually for both events first will be around 700,000, 2nd - 400,000, and 3rd - 350,000

5. If no one is interested, you would not be hurting my feeling at all. I have no problem paying the full buyins. But i will be playing in a few this year, and I kinda think playing for other people will really excel my game.

Payments can come to me via paypal. Contact me via pm if you are interested and let me know the amount and i can give you my paypal email. If anyone has any worries i would run off with the money, i will contact andy and see if he will hold it until the tourny starts and if i dont play, he can refund the money. But hopefully enough people around here realize i am not going anywhere. It will be very easy to see if i play or not because if you buy a share, you will recieve my name so you can track while i am playing. Chip size, if i am still in the tourny, what place i am in live, etc. If for any reason Something drastic came up where i couldnt play, i would refund the money. Any questions please ask.

I am going to only sell 50% of total shares for each tournament. The lowest amount you can buy in a share amount is 1% of the total buy in. SO for the 1000 event 10.00 min and for the 1500 event 15.00 min. Max is 30%.

Here is the post from last year when i played if you want all the info from that. http://www.thegamblingtimes.com/boar...ker-event.html

[pokergod112]

Since we (presumably) live in the UK investors should be paid before tax, I'm fairly sure.

[kidpoker]

They take the tax out of the prize right when we get it. So lets say I get a payout of 100,000, they take the tax out right away. You sign a tax form on the spot. This is standard in all vegas casinos for amounts over 2000 in winnings i believe. Even if you are on a slot machine. I am not positive if it is 2000 anymore or what the magic number is, but i know I was in vegas and cashed in a tournament 4 months ago and cashed for over 4000 and I had to do the tax thing. I am not positive on this, but i think even if you are from another country, you have to sign the tax papers since you are getting the money in the United states as winnings. But i am not an expert on this and havent spoke to a NON US Person who cashed recently.

Or did you mean you shouldnt have to wait until after tax season. Investors would be paid right away when i cash. they would not have to wait

Since we (presumably) live in the UK investors should be paid before tax, I'm fairly sure.

[pokergod112]

Kid, I do some staking over at 2+2. You basically need to fill out some extra paperwork if you have a staking agreement with people outside the jurisdiction. You'd make it clear who it is, how much and then it's that person's responsibility to declare the winnings and pay their own tax.

Have a look over there for templates, I'm not 100% on the nuts and bolts but investors in the UK should be paid gross.

[Clackerooney]

Kid do you think the problems with the US sites will affect the tables at all,
like online guys trying live for the first time so maybe a bit of an easier field?

I'll be in for $100 split between them anyway, $60 in the larger one $40 in the smaller, that's 4% each if my maths is right

& out of interest are you playing the main event?

Cheers

[kidpoker]

I will take a look at those templates. If it looks like something that I can do, than that will be fine. I try to keep it as basic as possible on this kind of thing. Also most of the time on those contracts, they only pay the backer 50% of what they profit. So if they bought in my case 10% of my buyin, then they would only get 5% of the prize money. That is probably why they will pay the taxes or take the hit because taxes would not be 50% so they come ahead. I am paying out 100% of the amount or % they pay for. More or less it is a way for people here that are not huge on poker, but want a way to maybe invest a small amount to win something big. But thanks for the info and i will take a look into it.

Kid, I do some staking over at 2+2. You basically need to fill out some extra paperwork if you have a staking agreement with people outside the jurisdiction. You'd make it clear who it is, how much and then it's that person's responsibility to declare the winnings and pay their own tax.

Have a look over there for templates, I'm not 100% on the nuts and bolts but investors in the UK should be paid gross.

[kidpoker]

Got you down, sent you a PM with the details where to send via paypal. And also have your %'s on both down. Thanks for the support.

As far as the sites, for these lower buy in tourny's I think it will be a lot larger field. Stars has already paid out all US people, and UB/absolute just did an agreement with the DOJ I heard to pay out people. I am pretty sure fulltilt will have people paid out by june also. SO people will have money to play. But the bigger buyin events might be smaller because people might be more limited with their funds. ANd also there wont be as many buyins funded by tilt, stars etc from satellites.

I dont know if the field will be easier, but on a larger field, you have a better chance of more bad people knocking each other out and putting a lot more dead money into the prize pool. ALso these bad people give you a better chance to build your stack in the early stages. You just have to play it the correct way and not put yourself in major damage zones.


I am a big fan of the larger fields. It is a my strength. I do a good job of dodging bullets early and making the most out of nut hands or hands I am a very large favorite. In a slow structure like the series events, I do very well in building stacks. The more people in, the more people that make the money. ANd with more dead money players in knocking themselves out, the easier it is to make the money.

I am only going to play in the main event if I do well in the tournaments. On my 10 day trip in the beginning of june, I am playing 2 events and mainly other caesars mega stack and venetian exstravaganza events. Along with cash games for sure. The play is usually juiciest this time of year, so as long as i profit a little bit, I will be back to play in a couple more events and the main event also.

Kid do you think the problems with the US sites will affect the tables at all,
like online guys trying live for the first time so maybe a bit of an easier field?

I'll be in for $100 split between them anyway, $60 in the larger one $40 in the smaller, that's 4% each if my maths is right

& out of interest are you playing the main event?

Cheers

[kidpoker]

Ok, here is the deal. I am not going to go back and forth anymore about this so this is final. And dont take it like I am not appreciative of letting me know about the templates and such.

First - usually when you stake someone and have an agreement on 2+2 like you say, the standard for a multi table tournament is if you paid for lets say 100% share of the buyin, you would only get 50% of the prize money i win. Or if you bought 10% share of the buy in, you would only get 5% of the prize money.
I am giving 100% of the % of the share you buy. So if you buy a 10% share of the buyin, you get 10% of the prize money after taxes. This is a much better deal and very generous if you ask me.

second - the reason I am doing it this way is because it is easier. People here dont want to deal with something very complex and neither do I. I know staking at cash games is much differnet also or staking so much money upfront for a bunch of tournaments is set up in a different way also, but this is for a one time a year thing.

Third - Again, I hope this doesnt sound like I am saying you are wrong, or not the correct way to do things. But I think the way i am doing it is best for people on here. If anyone wants a contract also to sign to prove I will pay them, I have no problem getting one from 2+2 and signing it. But believe me, I have no problem paying a small % of my profit if i hit big.

Kid, I do some staking over at 2+2. You basically need to fill out some extra paperwork if you have a staking agreement with people outside the jurisdiction. You'd make it clear who it is, how much and then it's that person's responsibility to declare the winnings and pay their own tax.

Have a look over there for templates, I'm not 100% on the nuts and bolts but investors in the UK should be paid gross.

[Andy]

I will take 5% in both please (so is that $75 + $50 = $125?)

Also Kid wont just vanish with the $s he has been part of the site since its early days. If he did (he wont) then TGT would refund you your $s if you have said in this thread in advance what you are buying. If he loses the $s through playing and being knocked out that is tough. Also it is the stake amount we will refund because if he wins the thing and vanishes without paying the winnings we could not cover that. BUT I would be sat right next to you on the plane out there to go and get it!

[kidpoker]

I have you down andy. Thanks. And yes, I am not going anywhere. I actually would love to see anyone in vegas at this time I am there. If so I will get anyone some drinks.

I will take 5% in both please (so is that $75 + $50 = $125?)

Also Kid wont just vanish with the $s he has been part of the site since its early days. If he did (he wont) then TGT would refund you your $s if you have said in this thread in advance what you are buying. If he loses the $s through playing and being knocked out that is tough. Also it is the stake amount we will refund because if he wins the thing and vanishes without paying the winnings we could not cover that. BUT I would be sat right next to you on the plane out there to go and get it!