UPDATE, 2022-06-06: I’m sold out! My 25 % cap was fully booked by a total of 17 stakers in less than 24 hours. If you still really want in, I can put you on the waiting list in the event of any cancellations.
Because many of you have asked, I will once again be offering the opportunity to buy a “piece” of my action in the 2022 World Series of Poker. I have already booked my flights and hotel for Vegas, and I’m getting psyched up to play!
Here is a very rough plan of the events I intend to play, as well as the number of buy-ins I am planning for:
|Event #||Event||Planned Buy-Ins||Planned Buy-In Dollars|
|47||Seniors NLH Championship||2 x $1000||$2000|
|49||NLH||2 x $2000||$4000|
|53||Mixed NLH/PLO||1 x $5000||$5000|
|55||Tag Team NLH Freezeout||0.5 x $1000||$500|
|Online 5||Online Deepstack NLH||2 x $600||$1200|
|57||Deepstack NLH||2 x $600||$1200|
|Online 6||NLH Turbo Deepstack||2 x $500||$1000|
|62||Super Turbo Bounty NLH Freezeout||1 x $1500||$1500|
|65||Freezeout NLH||1 x $3000||$3000|
|66||Mini Main Event NLH||1 x $1000||$1000|
|Online 7||NLH Deepstack||2 x $500||$1000|
|70||The Main Event NLH||1 x $10,000||$10,000|
|76||Poker Hall of Fame Bounty||1 x $1979||$1979|
|Online 9||NLH Online Bracelet Championship||2 x $1000||$2000|
Of course, with a schedule this complex, I will certainly have to make adjustments on the fly. If I run deep in one tournament, it might prevent me from entering others. If I’m just not feeling up to it for whatever reason, I might make a game-time decision to skip some events. If I find myself in the middle of a highly profitable cash game, I’m probably not going to stop (or go to bed early) just to squeeze in one of the smaller tournaments. On the other hand, I might add in an unplanned event or two, or maybe even fire an extra bullet at some event if I believe it makes sense.
For all these reasons (and more), I am making the total package $40,000. In other words, the absolute maximum I would spend on buy-ins as part of this package is $40,000. In reality, I’m likely to spend a good bit less. Maybe even half that much. But don’t worry–you will get refunded a proportional amount according to the exact total I spend on buy-ins. For example, if I only spend $30,000 on buy-ins, you will get a 25% refund even if I don’t win a penny on any of the events I play.
Note that I’m still looking for a partner in Event 55, the Tag Team NLH Freezeout. I’ve talked to a few prospects, but no deal yet. If I do play that event, then my half of the $1000 buy-in goes into the package.
Other important things to note, and caveats to be aware of:
- This is only available to my personal friends and family, and only those having a US Social Security Number or Individual Taxpayer Identification Number.
- I’m selling this action for a few reasons:
- Because some of you asked
- It’s fun to know I have some interested fans cheering me on
- It does help reduce variance, which is really massive in tournament poker (for the same reason, I am also planning on taking a small piece of action on several other players in various WSOP events)
- From a purely financial point of view, I’d prefer to have 100% of my own action here because I think it’s a slightly +EV investment. In other words, I believe I’m a slightly overall winning player at this level, and the more I personally “invest,” the more I can be expected to “profit.” Of course, I wouldn’t be the first poker player to over-estimate my own skills, and I could be way off base. 🙂
- I am making this offer at zero markup. In other words, you will receive a percentage of net winnings exactly equal to your percentage of the buy-in cost paid.
- Minimum share is 0.25% ($100). Maximum for any one person is 2.50% ($1000). I’d like to keep the total action I sell to under 20% ($8000), and it will absolutely be no more than 25% ($10,000). In other words, I will have at least 75% of my own action in all events.
- Again, I reserve the right to make adjustments to the plan above in whatever way I think is the best for maximizing profit. But your percentage of the total will not change, and I will not exceed the total buy-in budget of $40,000. In fact, it’s likely that the total budget will be considerably less, and you will receive a proportional rebate in addition to any share of the winnings.
- This offer does not include any cash game action.
- Please understand that tournament poker is very high-risk, and there is absolutely no guarantee of any return. In fact, at WSOP events, 85% of the players in any given tournament do not cash anything, and thus lose their entire buy-in. So if you assume I am an average player in this field, then the most likely outcome in any given event is that I lose the buy-in and do not make any profit. Even if an average player enters ten different events, there is almost a 20% chance that they lose every single time. If you choose to participate, please use only money that you are fully willing to lose.
- I regularly play poker cash games at a wide range of stakes, and I have been a solid winner for many years now. But I have fairly limited experience in tournament poker, and the difference between tournaments and cash games is bigger than most people realize. I’ve entered five different WSOP events over the years, and cashed in three of them. So I know I can do it, but I don’t have enough actual results to say anything statistically significant about how profitable (or not) I actually am.
- In my previous WSOP cashes, I was admittedly playing a style that improved my chances of making a “min cash,” but it also limited my opportunities to make a really big score. In these tournaments, all the significant payouts are among the top 1% of players, with the big money going to the players who make the final table. This year, I am going to play a more aggressive, higher-variance style that gives me a better chance at the big money, but also increases the chances that I bust out with nothing. That means your share is more likely to pay out nothing, but it also has a higher chance (still pretty small) of making a bigger return due to me running deep in one or more of these events. Again, assume there is a high chance of losing whatever money you put in.
- IMPORTANT: For a number of reasons, I am requiring everyone who participates to sign a simple contract. As part of that contract, you must agree that you will provide me with an IRS Form W-9 if requested. And because of the way Caesars handles payouts and taxes, if I win more than $5000 in any given event, I will be making this request. Then I will have to send you a 1099-MISC at the end of the year. Trust me, I don’t like this any more than you do, but this is how taxes work in the U.S.
- My first entry will likely be Flight B of the Seniors’ event, starting on the morning of 23 June. So I will need all contracts signed and payments completed by 22 June.
- I will be posting live updates throughout the WSOP on Twitter @N4GN (https://twitter.com/n4gn/). Feel free to follow the action there and cheer me on. If you really want to be among the first to know, you can hit the little bell icon to turn on notifications.
- Contact me directly with any questions.
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