Phil Hellmuth to Promote Relaunched YouStake, Starts by Selling 60 Percent of His WPT LAPC Action

February 16th, 2018 by Chad Holloway

Phil Hellmuth has never been one to shy away from representing a brand. He’s chomped down on a Carl’s Jr. burger on television, has had his mug plastered across Milwaukee’s Best beer cans, and currently represents Kimo Sabe Mezcal, Aria, and Muzik Headphones. Now the Poker Brat has added YouStake, a relaunched backing operation that allows fans to buy equity stakes of their favorite players in major tournaments and big cash games.

Phil Hellmuth’s first attempt at selling action on YouStake was a success, with 72 backers paying a 1.5 markup to buy 60 percent of his upcoming WPT LAPC Main Event. (Image: WSOP)

YouStake announced this week that Hellmuth would be joining their team as both an advisor and ambassador. The site launched in 2015 and calls itself a fully integrated sports crowdfunding platform. It allows the public to contribute to a poker player’s buy-in for live events, and offers a secure marketplace for both buying and selling shares, thus turning poker action into a tradable commodity.

Phil Hellmuth as Billboard

As part of the team, Hellmuth will not only represent the brand, bur also he’ll promote a variety of tournaments and cash game action on the YouStake marketplace.

As an example, Hellmuth put up 60 percent of his action for the upcoming $10,000 WPT LAPC Main Event. His action came with a 1.5 markup and sold out within a day.

“I speak for the entire team at YouStake when I say that we have been grateful for the amount of support from the poker community, with notable professionals joining the ranks throughout the years,” YouStake cofounder and CEO Frank DeGeorge said. “Phil Hellmuth is our newest team member and we are excited to have him on board.”

DeGeorge also revealed that Hellmuth, a noted poker author who has won record 14 gold bracelets, will be offering action during the 2018 World Series of Poker.

“We look forward to him offering his tournament action to our users during the WSOP,” DeGeorge said. “He brings an enormous amount of positive branding, poker accomplishments, and business experience to our team and we are anticipating continued growth of our marketplace with him on board.”

In his advisory role, Hellmuth will focus on business expansion including blockchain development, potential Initial Coin Offering (ICO), and sports segment expansion.

YouStake 2.0

In late 2016, YouStake temporarily shut down operations to comply with SEC requirements for registration as a crowdfunding portal with the Financial Industry Registry Authority.

The goal for YouStake was to align themselves with Kickstarter and GoFundMe. Up until that time, they had more than 6,500 registered users and had facilitated upwards of $8 million in poker backing transactions.

Former WSOP Main Event champs Jamie Gold and Greg Raymer, as well as Poker Hall of Famer Todd Brunson were among the notable players who used the service.

During the downtime, YouStake also relocated their headquarters from Las Vegas to Phoenix, Arizona. YouStake also has plans to expand into other sports beginning with golf tournaments and esports, with an eye toward mixed-martial arts (MMA), tennis, and rodeo in the future.

22 Responses to “Phil Hellmuth to Promote Relaunched YouStake, Starts by Selling 60 Percent of His WPT LAPC Action”

  1. GiGiCat says:

    Does this give YouStake enough credit so I can now start leaving posts about my staking for WSOP and WPT events here on CC?

    Regards,
    GiGiCat:)

    • dakota-xx says:

      That has never had anything to do with YouStake’s credit or reliability. I know plenty of people who have used them and been satisfied. 🙂

  2. ZARGA123 says:

    I can not understand why notable poker player are looking for stakers and sharing the most of their winnings with their stakers after all WSOP Main entry will cost him only 10k $

  3. cwdignus says:

    despite being a big winner, I would not buy the odds for the games of Phil Hellmuth, I think he is unstable.

  4. ADRIAN PAUL says:

    In Televised Cash Games and some Smaller Televised Tournaments, yes. However, that could be a Strategy to disguises his true Playing Style, etc. Phil is Officially a World Top 5 Player. You don’t get to be that by being “Unstable”.

  5. John_3_16 says:

    I understand completely. If you offer 60% of your action for 1.5 times the projected value then he only risks 10% equity for a return of 40% of the projected value. He plays for free. No one revealed the financial deal he has with the site.

    This partnership may have him playing for free and cashing big even before the first card is dealt. He has won 14 bracelets but how many attempts were made that ended in complete failure. I think your odds of winning would be better at a craps table or if you played your own money.

    He and the site are the winners here. 😀 😎

  6. Bob says:

    I tried to use this my credit card was charged 1$ 2 different times by a computer software company than within minutes there were charges online to Walmart stores . Luckily I checked because I got fraudulent activity notification f r on the credit card.

  7. isaac says:

    I always worry about things like this. Let’s say for example you crowdfund someone, and then you are in the same tournament as them at the same table. The potential for some shady interactions is phenomenally high! It is so much easier to be facing someone in which you have a percent of a stake in since multiple people are backing them instead of just one of a few.

    • ADRIAN PAUL says:

      This is a really silly comment. Obviously, you’re not allowed to Stake someone who’s in the same Tournament as you.

  8. Bob says:

    Regardless of what you just said this has nothing to do with Phil , it is you security that’s the problem because I now have to wait for a new card and dispute there charges after try to back Phil through your site . These are facts so you can avoid talking about the facts by taking about how Phil backs you take. I’m sure he does But I my card was STILL COMPROMISED.!!!!!!!!!

  9. Bob says:

    Regardless of what you just said this has nothing to do with Phil , it is you security that’s the problem because I now have to wait for a new card and dispute there charges after try to back Phil through your site . These are facts so you can avoid talking about the facts by taking about how Phil backs you take. I’m sure he does But I my card was STILL COMPROMISED.!!!!!!!!
    Also when I tried to call about this there is a Google voice number ? Why not a proper Buisness number and no one ever responded!

  10. Helloween says:

    I am confident that the demand will be very high. Everyone who has bought a share keeps his nerves, time, etc. At the same time, an experienced player with a good story in poker earns Money to them))) If Phil wins, then your contribution multiplies by one hundred. He must enter the ITM at least …)

  11. ADRIAN PAUL says:

    Poker can be cruel. No Guarantee he will get ITM

  12. Rijckenborg says:

    It can be a nice way to make some cash but it contain also risks.
    I think that I prefer to use my cash to play my own tournament 🙂

    • ADRIAN PAUL says:

      A top 10 World Poker Player who was once No. 1? I’d rather put a lot of my money into Staking him, than me!

  13. Dejange says:

    1.5 markup is a huge value! Explaining that only with the interest which must remain for the YouStake!

    So you buy 60% of 10 000 USD BI for 9 000 USD 🙂 Hilarious :p

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