I'm staking my friend in live donkament...so he can pay his rent

I have a friend I met in a local live game. He is probably a better player than me, and from talking to him, sweating each other and playing HU, I've probably made a lot more progress in the past 2 months than the previous 2 years.

His problem is typical: He's an online pro with 98% of his net worth on Full Tilt. He has $300 in cash and a worthless piece of paper that says $2,000 on it that he got a week ago from Full Tilt.

And, his rent is due this week.

So I heard about a $120 buyin live tournament in the area, and I'm staking him on a sweetheart deal (for him). I'm not doing this because I'm a saint but because it's a good investment on my part: A. he's a good player B. I got some insurance in it by arranging that he will provide me with similarly favorable terms when I need to be backed in a game. Because God knows, in this current climate and the variance of live play and most of my roll online, it's pretty likely there'll come a time when I need it -- soon.

This is what we need to do, people. Stand up for ourselves and support each other. If we, as a community that has profited from poker, cannot support each other in our darkest, then we really are degenerates that offer nothing to society.

lol@

I talked a name pro about advice on staking arrangements, his advice:

"Save your money. Back yourself only."

um, isn't it general greed, selfishness and stupidity that got the poker community into this mess?

It's nice to see you backing him, it must be dreadful for him if his income comes from poker and now basically being made unemployed without any warning sucks.

Hope it goes well for him and you!

I would imagine that there are many families who will not be paying bills this month or any month soon. Just like real life. mansion today..lose job...shack tomorrow!

if he any good i would stake him for small amount untill he can stand on his own beside that i think back your self only is the true fact on poker some times i play with some friends online there chips is as good as any one else

Yes , staking to help them in the beginning is cool and a nice jesture if you can afford to take the lose, otherwise play with your own

Good on you for doing this. Obviously, use "common sense", help out only to the extent that your means allow, etc. but I wholeheartedly agree with the sentiment of supporting fellow, trusted players who have severely suffered from this ordeal.

There must be many people out there, who were financially dependent on poker, in a very tough spot right now.

No its not, this person has a point and friends can quickly become ex-friends in these situations. I am not saying this is the case here but in genral alot of people out there are pretty low people who would do anything for a bit of cash.

Also gl to your friend but what happens if he doesn't place? Maybe he should get something sorted for his rent before he tries to win it, no matter how good you are you are not guarenteed a cash.

I think that CC is a place that shows what true poker players are, kind, gracious and charitable.

Maybe he does have something sorted out for his rent? (& then again.. maybe he doesn't but now he's got a free shot at it from the help of a friend giving him the oppurtunity to take a shot in a tournament). Again... pretty sure they realize that it doesn't matter how good of a player he is... cashing is never a guar. (I mean seriously.. only a complete noob would think otherwise.. wouldn't they?).
Dn't mean to come off sounding like a dick... but if you've read 'any' of OP's posts I think you'll realize that they know something about the game of poker.

I know that 'Friday' caught alot of people off-guard, but staking anyone just so they can pay their basic living expenses is a mistake.

So he's got $300 in cash, rent which is due, and is looking for a stake in a $120 tourney.

If he plays in the game and does not cash, he loses $120, some percentage of the loss which is split between the two, and he still has rent to pay.

The next step that happens after that, is his request from you of an outright loan to pay his rent and other bills for the month.

This can get awkward 'really' fast, and your friends status can change with it.

Not a good habit to get into.

Yea, it can suk doing this.

But as has been already mentioned, OP seems to know what he is doing poker wise - it seems that way to me what I have read by him, and I think a number of ppl here have respect for him - so he will be aware of the reality.

I believe his post was about keeping on in the face of the shit going down with the DoJ and so on, not if staking a friend can be a losing deal. He knows a win is not a shoe-in, and I am assuming he is ok with that.

I know that pros and semi-pros stake each other, and its always a turn about situation. So it is also an investment for a later date. And if his friend never has an extra 120 ever again to do a turn about, well, I think in this case it wont lead to guns and barricades....lol

Mmm 1.16 is very nice markup figure.

I think its a good thing you did by helping em out.

I don't have the roll to really stake anyone right now, close friends or not :P

If I had the roll, i would for sure be helping pretty much anyone in there dark times, seeing as they would only need like 1% of my roll to get back up. And i am sure they would return the favor if i needed it

And why isn't he cashing out from FT the 2K$? :/?

Probably for the same reason no one else is cashing out, they can't.

lol

Have you been in a cave for the last week? He's an American, he'd love to cash out. Our lovely govt. has made that a little difficult at the moment.

As OP explained in his post his stake horse has a check its worthless at the moment.

Put 1.2million people on life tilt why don't ya.

Please.. can someone remove this post from the forum.