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Instead, their financial arrangement was facilitated and processed by StakeKings, a new crowdfunding site that seeks to bring together buyers and sellers of poker action in a simple and transparent marketplace.
For decades, this practice of staking—in which investors fund a gambler's play in exchange for a portion of the winnings—has been a widespread yet underground element of the professional poker world, occurring within an insular network of dedicated gamblers and their associates.
Now, platforms like StakeKings and its chief competitor, YouStake, are trying to make it mainstream. Though it generally goes unnoticed by the casual observer, staking plays a significant—if somewhat controversial role—in the poker ecosystem.
For players, it's a good way to stay solvent. For investors, it's an opportunity to make money from the sidelines. But staking isn't always about the money.
For many players, it's also an extension of a genuine friendship. Last summer, after Barber won a tournament for half a million dollars, one of his first instincts was to celebrate the victory with his friend and longtime backer, who had put up a 25 percent of the buy-in.
Jeremy explains the initial objective and reason for starting:. Jeremy, with a long background in the staging and event production industries, also worked as a scaffolder and in carpentry, and had spent time working in Europe in the world of events.
The concept quickly took off, and within a very short time Stagekings were creating and building some of the largest custom stages and event structures in the country.
Mick Jessop was a pivotal addition to the team when he joined in With a strong background in design, he was also used to the intense challenges of large-scale and complex production builds.
After initially moving in and out of co-working office spaces, Stagekings finally took the plunge to set up their own dedicated space, and in moved into a 2,m2 warehouse in sleepy Kurnell at the end of the Sutherland Shire peninsular, a space which they have been customising ever since.
The warehouse layout is constantly changing to adapt to different projects, and it makes for an exciting place to work.
Chatting to a regular Stagekings client from their recent Commonwealth Games involvement, they confirmed:.
Roughly the same number broke even, with the rest enjoying being part of the action but, ultimately, losing money. Technology advances As technology advanced, so the information supplied by Timeform — and the racing press — advanced with it.
Or let one gamble on your behalf? Other Related News. I think our pros recognize these things, and understand that we are here to work with them.
We also offer several different value propositions to pros — from reducing variance, moving up levels, or engaging with their fan base.
As a result, markups are market-driven, which has produced markups never really seen at this scale. StakeKings is also a full VIP service — we handle all the support questions, deposits, withdrawals, payouts, refunds, etc.
What promotions can you put together to draw in people to participate in the action on Stake Kings? Thus far we have had several leader board promotions that included cash prizes and entry into tournaments on various sites.
Points were awarded for most pieces purchased and our most recent one was to see which backer could accumulate the most winnings over a set period of time.
It seems the highest markup on the DFS packages is 1. Many are 1. These players may not all be worth that markup long term but it still is worth it to many people for the entertainment.
They also likely are getting better value on a BigT or Squirrelpatrol for example than if they spent the same dollar value on their own lineups.
They get good upside in top heavy tournaments for a relatively small investment. If buyers view it as the cost of entertainment, I see nothing wrong with that.
To me, someone is worth whatever markup someone is willing to pay for them. It seems many packages are selling out so obviously people are interested.
Menu Rotogrinders. Sign In Sign Up. HoneyBadgerDFS 1 year ago. However, it is important to note that this is an entertainment purchase not an investment, Even the best of DFS Pros, in GPP s, are barely beating the game to be profitable.