How does backing/staking work?

Just wondered how you can receive backing or be stacked by someone?
Is there any specific requirements you need to reach in order to get to receive it? also is there smaller sites where you can agree this with people, as I wouldnt mind backing a good player to see if they can make me some money or on the other hand would quite like the chance of receiving a small stake too see if I can turn it into a big figure?

It works by a stats basically. If your stats show you are capable over a significant sample at the stakes you play then you will be considered to be staked at that level or even a level or two higher, however - you have to have references so to speak. Someone within the community who knows the people of who are going to stake you will represent and say you're trustworthy basically so you don't just do a runner with the money.

Actually, while stats plays a role in staking, just about anyone can get staked, well let me rephrase that, just about anyone COULD have gotten staked prior to "Black Friday". Because P2P transfers were much easier on PS and FTP, that is where the overwhelming majority of stakes took place. There is a lot of upheaval in the staking business at this time. ie one of the leading sites stopped even allowing Americans to invest in or receive stakes. Another leading poker site that just opened a staking section, promptly shut it down just days after it was unveiled once Black Friday took place.

Some sites that did significant business with rooms other than PS and FTP are up and running a bit, and the largest site is doing some stakes as well as the largest poker forum that runs separate staking subforums.

PS, if you are not American, then you should have 100% easier chance of picking up stakes at one of various staking sites, poker forums, especially the ones started by non-US entities.