WSOP - who wants to swap or BAP?
After winning six online tournaments yesterday, I'm going to slow down online to start preparing for Las Vegas. In case anybody else wants to buy a piece (BAP) of me for the WSOP Main Event, please PM me. I have cashed in a bunch of casino tournaments this year where the person with a piece or swap made money from me, including the CPT Finals at Dominican Republic, Great Blue Heron $1,100 Spring Classic, Point Edward Blue Water Classic (2 cashes plus Points Prize Pool) and last week at Casino Brantford.
I will match the same ratio as westside8 for forumers I know - U$110 for every 1% (U$220/2%, U$550/5%, etc.) of the post-withholding winnings. Just to give an example based on last year's payouts, IF I win first place, the WSOP would award ~U$6.4 million after withholding so each 1% share would be worth U$64,000. I will pay any tips, trip expenses, and hookers-and-blow celebration from my share.
Payment can be made in US dollars via poker site transfer or e-wallets. Another way is to give me the US dollars at SteveKerr's WSOP Warmup this Friday or at the Casino Brantford tournament on June 25.
If I have enough pieces left, I am willing to consider swapping dollars or percentages with those playing in the Main or other WSOP event. As explained in The Mathematics of Poker book, poker players benefit from swapping with each other. This is true even if one player is stronger than the other but the swap takes place at par, e.g., same amount of dollars. For example, if somebody I know playing in a U$1,500 event wants to swap U$150, then he can get U$150/U$10,000 or 1.5% of my Main Event profit (i.e., prize minus tax withholding and buy-in) and I can get U$150/U$1,500 or 10% of his profit. Just as I am preparing EV-maximizing strategies for Las Vegas, I want to try to maximize the Sharpe ratio for the best risk-adjusted return.
Below is my online tournament record from Sharkscope. It is missing a third big spike along with a bunch of medium-size wins, but you get the drift. More details can be provided via PM to those seriously interested.
I will match the same ratio as westside8 for forumers I know - U$110 for every 1% (U$220/2%, U$550/5%, etc.) of the post-withholding winnings. Just to give an example based on last year's payouts, IF I win first place, the WSOP would award ~U$6.4 million after withholding so each 1% share would be worth U$64,000. I will pay any tips, trip expenses, and hookers-and-blow celebration from my share.
Payment can be made in US dollars via poker site transfer or e-wallets. Another way is to give me the US dollars at SteveKerr's WSOP Warmup this Friday or at the Casino Brantford tournament on June 25.
If I have enough pieces left, I am willing to consider swapping dollars or percentages with those playing in the Main or other WSOP event. As explained in The Mathematics of Poker book, poker players benefit from swapping with each other. This is true even if one player is stronger than the other but the swap takes place at par, e.g., same amount of dollars. For example, if somebody I know playing in a U$1,500 event wants to swap U$150, then he can get U$150/U$10,000 or 1.5% of my Main Event profit (i.e., prize minus tax withholding and buy-in) and I can get U$150/U$1,500 or 10% of his profit. Just as I am preparing EV-maximizing strategies for Las Vegas, I want to try to maximize the Sharpe ratio for the best risk-adjusted return.
Below is my online tournament record from Sharkscope. It is missing a third big spike along with a bunch of medium-size wins, but you get the drift. More details can be provided via PM to those seriously interested.
Comments
However I am going to make this offer. If anyone wants to buy a piece of me or partially bankroll me in any other event there in Vegas be it WSOP or Venetian, Binions, Golden Nugget, Caesars, etc I will do it on a even % swap, ie 1 for 1 (lol, I'm not even charging a 10% vig!). Similar to others this is after any withholdings which only apply on over 5K winnings I believe. for eg you buy 50% of me in a Venetian deepstack $550. event pay me $225 and get 50% of any winnings, net tax withholding. However if I only cash for a 4K net profit, then no withholding tax and we each get 2K. Would even do the same for the GN seniors on the 20th which is only a $230. buyin or any Binions event $150-300 buyins.
I will only do this for forumers I know and trust. Payment terms to be arranged in advance... Contact me at jeffcookson at gmail dotcom or pm here or get my cell # from a few members on here who have it. Graham, Wes, Buddy, etc
GL at the WSOP! TID!!!!
Jeff, I'll split the buyin with you on one of the cheaper events. Can you take stars$$$?
OK, Graham, thanks. I am playing the Golden Nugget on Sat the 20th for sure, which is a $240. as I recall. I will also be playing some of the Binions events which range in buyin from $160. to $310. I may play a Caesars $340. or possibly even the GN PLO for $240. tomorrow. Do you have a preference? Stars is fine and your word is good too, no need to ship ahead. I will hopefully get back on the net later today, leaving home in 10 min....
GL BF, I'm in
GL!
Note that if you are swapping with anybody, the percentage should be on PROFIT, i.e., deduct the buy-in. For BAPs, which is essentially somebody paying for part of your buy-in, their share should be on the winnings (minus any withholding taxes but not the buy-in). To see why, calculate how much a min-casher would have left after a 100% BAP, and after a 100% swap.
Since every available table is needed for today's event, all the satellite and cash game players were kicked out. I can't play another satellite for five hours until 5 PM. The Everest hospitality lounge finally opened and I am now using one of their four Internet PCs. I have checked into a Rio suite for my three free days.
While waiting for a group dinner on Sunday, I decided to play a SNG at Mirage. When it got down to the final 2, I was asked for ID and it was only then that they told me that I would be subject to the dreaded 30% withholding tax!
Got your party invite yet?