General Poker Discussion Poker Forums

After Black Friday, I staked my best friend in live poker for awhile, with mostly negative results. At the moment, he owes me 2,000 bucks that I am unlikely to see unless FT payouts happen. He has around 20,000 coming to him. I was thinking of offering him a deal in which he doesn't have to pay me back unless Full Tilt payouts occur, but in that case he will owe me substantially more, maybe 4,000? 5,000? Would you guys make this deal? I am tempted to, because I don't think he'll pay me back unless he gets this money out anyway, otherwise I'm looking at receiving maybe 100.00 a month for the next couple of years (if I'm lucky).

Do you guys think this is a good idea? How much markup should I charge him? Should I ask for double? Triple? Would love some thoughts.

not sure if you understand what markup is.

are you explaining it wrong? if you staked him for tournaments and lost it he shouldn't have to pay you back

overall it sounds pretty slimey to try this approach with a "best friend", but to each his own.

After Black Friday, I staked my best friend in live poker for awhile, with mostly negative results. At the moment, he owes me 2,000 bucks that I am unlikely to see unless FT payouts happen

what kind of a friend is that ? lol
tell him to go work for a couple of weeks in order to pay you back, 2000 bucks isnt all that much...

if he is a good friend you shouldnt even ask for your money, he should be the one feeling bad that he hasnt payed you back yet

if wouldnt make any deals (dont even understand what kind of deal you were saying)

i would just say, if you are a true friend and care about our friendship you pay me back (and give him like a month or so to pay), if he doesnt, well then i would question your friendship with him, and i would probably take a more "agressive" line...

Have you been paying attention to what's going on in the poker world the last few days?

Stars is buying FT so everyone is getting paid.

Have you been paying attention to what's going on in the poker world the last few days?

Stars is buying FT so everyone is getting paid.

Well they are not the first one "buying FT". One thing in common with previous "buyers" is they are talking about it with DOJ. What comes out of that is still a mystery.
I think that (if recent rumors are to be trusted), there is 60-70% chance that the deal will go through. And I have money there as well so I might be to optimistic...
So anything above 3500 would seem like a +EV deal (if you won't get paid otherwise).

Now if you "staked " him and he lost in a tournament or something he probably shouldn't have to pay you back. If it was a "loan" then certainly I would ask him for the money. Unless there was some sort of agreement I wouldnt ask him for more than the loaned amount.

a stake is a stake. a loan is a loan. please clarify where the debt comes from. from what is written in the OP it seems like it's from staking of liveplay.

If it's from staking i take for granted you'd receive a % of the profits? If so it's kind of fd up to ask for your money back when you lost. You're basically freerolling.

Also the last thing i would think of if this situation arose with my "best friend" is +EV. I mean for pete sake.

I feel like its quite normal for a stakee to pay back part of the roll he received if he lost it all (I've never staked anyone or got staked so take this with a grain of salt).

He dosent have to pay it back. However, if he wants to play on his own, he has to buy out or continue playing under you. If he is done with poker though, its his right to walk.

Ya id buy FTP$ right now for 95 on the dollar.

I should have been more specific. The money was a "loan" in the sense that I was not to receive any profits from his wins, but was to be compensated after my friend had recovered his bankroll. Unfortunately, he went busto and now has a job working at a bank. His job also pays 2300/month. Rent in LA is like 1400/month + cell phone + insurance etc, and he doesn't exactly have a cushion to pay this debt off, and being a very good friend, I don't want to significantly impinge upon his quality of life by collecting when he can't really afford to for probably 2-3 years.

if ft comes back, i dont think its very moral to take more than you asked for but you can demand a pretty nice dinner offer when he pays you back.

if ft doesn't come back, tell him to give you 200 bucks every month.
thats what i would do at least.

if u take 4 if ft comes back or nothing, your basically laying an even bet and things look like its more like 90% for ft players to get their money back, it sure isn't a "friendly" deal imo

Wow that's the worst structured loan ever, if he lost there is no way he could afford to pay, if he won you didn't get any of the profits, you were badly free rolled.

At the time of the loan he had plenty of money in his eTrade account and I was pretty sure he would pay me back reasonably promptly. I don't know where all of that money went, and to be honest, the players at commerce are so lol-bad, and this guy was just pounding on Full Tilt/Stars from stakes 1/2 - 2/4 that I was really sure that he had just hit a really bad run that would turn around.

As such, I'm kind of wondering what a "fair" deal would be for buying his FT dollars in exchange for clearing the debt. I was thinking somewhere around 3500-4500, but some people are 90% sure the deal is going through, some people are 60% sure the deal is coming through. Either way, there is risk involved right?

It's just super frustrating because not only have I loaned him this money, but for the last two months any time we go to Chipotle, grab beers, or do anything I have paid for him, and that has probably added up to another 250 or so, and there is no feasible way in the future for me to be paid back.

This is just my life philosophy in this area:

- Never try to make money on your friends.
- When you lend money to a friend think of it as a gift.
- Never ask to be paid back. Your friend will give you the money as soon as he can.
- Don't keep a score.

It is easy to make more money. It is very hard to find a good friend.

This is just my life philosophy in this area:

- Never try to make money on your friends.
- When you lend money to a friend think of it as a gift.
- Never ask to be paid back. Your friend will give you the money as soon as he can.
- Don't keep a score.

It is easy to make more money. It is very hard to find a good friend.

this. same with family. old saying is thanksgiving dinner never tastes right when you owe you dad/ son/ whatever money. also if you do get into agreements like this having it in writing and detailed out helps so there doesn't become a situation where both parties start bickering back and forth.

fights over money ruin lots of different relationships