Are there Backers in Blackjack tournaments?

meet at Sam's Town

I will be at Sam's Town this weekend. Most everyone there knows me. Just keep asking people and one will surely be able to point me out.

 

ask for delta duke?

 

I want to make sure if I'm right, 6 man playing double deck. Avg hand is 3 before reshuffle?

 

I can't believe his system is that complex!

Billy C

 

absolutely incorrect Ken Smith. I was just wondering.

 

Are there any Backers in Blackjack?

This thread has been really entertaining and obviously the members on here are kidding around a little with Duy Tran.

I would like an answer to his original question and ask if there are any backers around the tournament circuit who sponsor entry fees for Blackjack players. If so how does it work?

I think it could be quite exiting putting some money in the entry pot for a skilled BJ tournament player, providing you can trust them to pay you out.

When London Colin eventually crosses over the pond to play BJ tournaments in the USA, hell I may just shove a few quid on him to beat the Yanks at their own game!

Maybe I am now kidding, or maybe I’m not?

Andy

 

There doesn't appear to be a lot of it but some deals are done. It's not unlike entering any business with other people------------------trust is paramount.

Billy C

 

I think parnerships or teams are more common than backers. Each pay their own expenses and split any winnings, or split all expenses and earnings. Some are formed for just a single tournament and some for longer periods. I don't personally know anyone who does backs players, which implys not playing oneself.

 

It is possible to be a backer and still play in the event. If you pay both of our entry fees and you get some of my prize $$$ but I get none of yours, you are a backer. Also known as a "sponsor" back when I was bowling a lot.

Did y'all miss the original poster's contentions that there is more money in BJT's than poker? When did this happen???? :yikes: :laugh:

 

Nice to hear from the Pacific Northwest!
I'm guessing your last sentence means it would be kind of like playing against yourself, but being 6 or 7 places are typically paid it could be a way of "hedging your bets". No?

Billy C

 

The members who know the most about BJT backers don't do much posting anymore so our access to that information is very limited. I know very little about backers but here's the little I know.

Backers generally only sponsor players they know and trust - trust is paramount. The player must have a solid record of successes or nobody would invest in him. Backing a player usually means paying the entry fee and possibly transportation, hotel, and maybe even meals (no steaks). The more the backer pays, the higher the percentage of winnings is expected. Backers usually only come into play for specific tournaments when the player is in a personal financial bind - not usually related to any gambling losses. This is because if the player is good enough to a attract a backer, then he doesn't need one unless he's in a financial bind.

The percentage of the winnings that the backer gets is negotiable. I've heard of backers getting 50% of the winnings but I've heard of a lot higher. I know of one person that had more than one backer for a tournament. He won $100,000 but ended up with $20,000. Yes, the backers took 80% but he had no choice if he wanted to play.

One more complication with backing is TAXES. Procedures must be set up so that the backers pay taxes on their share of the winnings. Otherwise, in the example above, the guy that won the $100,000 would pay all the taxes leaving him with negative income.

 

Astoundingly true. Unless you are in a deal with someone you'd trust like a brother, get it in writing!!! Include how tax issues will be handled. I haven't been in this game as long as many here but have already gotten screwed and cheated by weasels whom I thought were trustworthy. Get it in writing. Then there's no "misunderstandings" and no room for jerks to give you the shaft.

On a more positive note, there are many more good people playing this game on a national level than there are weasels.
However, we always seem to remember the jerks more vividly!

 

Did you notice?

Very few threads here grow to 8 pages in 4 days like this one has. It's amazing what a little humor and fun can do!
Thanks for starting it Duy Tran.

Billy C

 

Your advice is solid and should be remembered by all. But your experience relates to, how shall I say, "partnerships" or "teams", where a group of players agree to split winnings in a multi-level tournament where there are many variables as to who can play based on their prior wins/losses. Then throw in the attendance variable and you have a contractual nightmare. In that scenario, coming up with an agreement in writing is very difficult. There are so many variables and bases to cover that I can't see how absolutely every possibility can be thought of and covered. Even if a competent attorney is consulted and writes the agreement, something, however minute, may easily be missed. Trust, again, remains paramount.

Getting back to the subject of this post, an agreement between a backer and a player is very straightforward. Player W will pay Backer X a percentage of any winnings by Player W in tournament Y equal to Z% of the winnings in return for Backer X paying ------.

 

And Mr. Tran still can't get a backer!!!

 

I think anyone who plays any amount of tournaments or even reads a magazine knows where the real money is--and it sure isn't blackjack. That is why several notable blackjack players have switched games. I wish there was half the money available in open BJT. Oh well... I HATE poker.

 

I tried to get my room and blackjack tournament reservation earlier today and my room. I got transfered at least 6 times and guess what happened? I got transfered back to operator. I just went off them and told them how about they suck and thats why they don't ever get any business.

 

That's common

Get used to it if you plan on playing BJ tournaments. Customer service has deteriorated rapidly at many casinos (to the point it's a joke at some).

Billy C

 

Very true! Cable TV made Hold Em what it is. They also gave BJ a shot but the result wasn't the same, unfortunately.
Main reason I've not switched to poker is that a lot more time would be needed for that (time I don't have at present).
Also, I wouldn't have as much confidence in my game as Mr. Tran has!

Billy C