Staking?

I want to get staked where do I go?
There are many sites but the one Im on is www.pokerstaking.com

What is staking?
It is where backers(people who pay for the players buy ins) give money to players to play specific tournys or to start with a specific bankroll and play until it reaches the goal.

If the player is that good why would he be staked?
Alot of players like the comfort of not having to be on their own roll when a downswing hits, and they like winning money for other people as well. Another popular reason is that they have trouble keeping their own bankroll, so having strict guidelines helps them stick to a plan and therefore make money.

Wait, if a player cant keep their own roll than why would I give him one, wouldn't he have the same trouble?
No they would not, but that is why its important to lay out terms, and if you dont want the player playing tournys higher than $150 than the player must stick to that. If the player is desiging the stake, than the tourys he says he is going to play is a contract and if the contract is not followed, the player must pay for the tournys that he was not supposed to play. If the player wants to play something different than he/she must approve it with the staker/stakers.

Do alot of people get staked, and are any top players staked?
Yes eveyone would be surprised if they knew how many people were actually backed/staked in online and live tounrys. Yes, there are many top players staked, the best players online often do run on their own dime online, but in live tournys like the WSOP, WPT, etc. they are staked. Also, alot of big players are staked online, I know a few who have the roll to play on their own but choose not to for the comfort of being able to play their A+ game even after being on a downswing. Remember a person can spend well over $5K on sunday playing the major sunday tournys, if the player cannot wipe that off at the end of the day, or even be down $25K at one point that month, if those would affect you being backed is a good resource to help control that.

Okay but it seems like the players take the backing money less serious than their own, is that true?
Absolutely not many players including myself, are just as upset losing the backers money than our own, sometimes more upset. It does help knowing that you are not losing your "own" money but the player should still value their stakers money like it is their own. The serious players that are staked value all their stakers money more than they probably should, Ive talked to alot of people who get very upset about losing the stakers money if they go on a downswing. The thing is, the stakers know that downswings happen, so the player cannot let themselve get upset, as long as they are a profitable player than they will come back into profit.

Is there any risk?
Of course there is risk. The way you eliminate that risk is by staking players that have been around staking for a while, are trusted by people, and have ran other stakes in the past with no problems. Sad enough sometimes the ideal player does run with the stakers money, but that is very rare. The key is staking people who would not benefit from stealing money. For example, If I stole $1k from stakers what would that do for me? It would destroy my reputation which I am trying to build, I would never get staked again, and above all you never know who you might run into lol. Basically stake people that want alot out of poker in the future(have poker goals), value their reputation, and have good morals.

What is this cake thing?
Cake is a very tasty bread object with alot of frosting on top. Next question..kay bad joke lol. Cake often called stakeback and makeup, is what you pay the stakers back if you have lost them money in the past and just made them money. Everything you lose them you must pay back through profits, unless you have an agreement with the staker that there is no cake involved. ATTN: Stakers should not stake a person without cake unless they are getting a 70/30 take, obv 70% in favor of the stakers or better. An example of cake is this. I run a stake for $500 and lose it all. The staker sends me another $500 and I turn that into $1000 in profit. I send him back is $500 profit cut, but wait that means hes even because he lost $500 before, and the player is up $500, thats where cake comes in, you send the stakers another $250 so that the staker has made $250 profit off you total, and the player has made $250 total. Basically everyone must make the same if the deal is 50/50.

Lastly some quick tips for stakers.
1. Only stake profitable players, if his stats say he doesnt make money, why would you stake him..unless he is improving and that is shown in the stats

2. Do not stake via aim or skype or whatever, make sure you discuss terms at a staking website.

3. Beware staking new players or players that are unfamilar with staking, yes they need to start somewhere but be prepared to deal with them not knowing the rules or just taking your money, thinking that they have figured out a way to make free money.

4. If your going to stake someone who is a winning player, stake them in everything they play. Staking a player in something here and something there is not profitable it is gambling. The one tourny you do not stake him in is the one he may hit for a big score. Players love when a staker asked to reserve shares in everything they have, having a great staker is a great feeling to players.

5. Stake with cake, it is too much of a risk to stake a person without cake, unless you are just staking the person for a one time thing, than 70/30 is profitable enough.

#1 advice for Horses/players.
Follow all the guidelines of your stake, ask the staker if you want to make a change, and WIN!!!! :)

-Josh