STAKE

PokerStars just recently ended their SCOOP, a very big online tournament series. The Player Of The Series (winner got something like $100,000 in prize packages) was a player named George Lind III. He was recently named a Team PokerStars Online Player and was the fastest player to reach the status of SuperNova Elite for 2010. He recently updated his blog at jorg95.blogspot.com

But anyway, he is selling pieces of his entire WSOP 2010. He explains in detail his staking offer here: http://forumserver.twoplustwo.com/163/staking-selling-shares/full-wsop-package-selling-shares-787841/

It’s all about expected value. Yes, there is a lot of variance/risk in tournaments but, I think this opportunity is definitely plus EV. Every tournament he enters, he is definitely plus EV. Some people estimate that their ROI (return on investment) in WSOP tournaments is up to 100% depending on the tournament because of how soft some tournaments are. For example, assuming he has a 100% ROI, for a $5,000 buy-in tourney, his expected value would be to cash for $10,000 (5k buy-in plus 5k profit).

Also, it’s not an all-or-nothing type of investment. There’s a very very very small possibility that he cashes for $0. However, even if he has a “bad” tournament series (30+ events), he should still cash for some decent amount of $ and I would get back some amount of money.

I’m sure this sounds pretty shady. But when Cole “CTS” South (one of my favorite players) offered to buy as big of a chunk as possible, I was down. I think I am going to invest $500 for 0.25%. The spots are selling really fast. Less than 24 hours since he has offered staking, and already 20% has been sold.