[7/21/23] #33 - Partners, Backers, Freerolls, OH MY!

[7/21/23] Partners, Backers, Freerolls, OH MY!

We are gonna talk about what everyone knows in poker but is rarely discussed. I don't know why it's not talked about openly in sports betting.

I was watching the final table of the WSOP main event this Monday and it was clear that the winner had the largest contingency of friends who were fellow poker pros who were living and dying on every street of every hand.

Many on Twitter speculated whether a deal was made between the final 3 competitors and many well known pros quickly ran to tell everyone that no deal was made. Which by the way would make absolute sense if he only had say 50% of himself or was in makeup from previous tournament play.

Might as well go for it! Good for that guy, everyone involved and frankly anyone who makes that deep of a run in a tournament that size. I don't play tournaments personally but I love watching the main event much like the super bowl.

I recently quit staking poker players. I'm too nice of a guy for this new generation who run 1000s of simulations, study GTO and run solvers but don't seem to care if they win or lose as much as telling me about their perfect play that also loses too often.

Funny how I treat people in my life but especially in business exactly how I want to be treated and in self reflection that's a impossible responsibility to ask of others.

My first time being backed was a less than ideal situation. It was from a father figure who just put a lot of money in my pocket with completely unrealistic expectations for a 25 year old.

I thrived in the beginning. Scared to lose, not only was it a raw makeup deal but who wants to let their mentor down? There were many nights where normal variance came under scrutiny and I would have to run a poker room sometimes for free for a week.

Eventually quitting playing unless it was my own cash after working off my debt. Still it's stuck with all these years, not wanting to disappoint the people who put their faith in me.

My first sports betting partnership was truly amateur but was with 4 incredible friends who were going to watch too many games, smoke a lot of pot and eat wings and we were surrounded by local bookies.

Plum lucky to win but there was a mistake made on my end. I never considered what if one of your good friends has no interest in handicapping or isn't pulling the weight of the rest of the guys?

That happened and it became very real halfway through a season where even when winning, we risked losing friendships. Such a terrible mistake or oversight that seems so clear now but at the time it was a innocent mistake.

My first freeroll in sports came from a local bookie and actually the first time I ever reached out to Dink (unsuccessfuly) was to ask if it was a fair deal. I was betting $250 openers on reduced juice at 5d's and he matched (whooping bucks!) and I would relay the bet and turn over the account to him where he made my settle figure plus the balance whole.

This would turn into a exceptional deal for a guy with no bankroll, no ability to read the screen (didn't even know what one was) and gave me a lot of confidence that this successful gambler believed in me so much.

My first really successful partnership was Dink only because he wanted to win more than anyone I've ever met and will ever meet.

He always wanted to tell me what I was doing wrong but genuinely enjoyed explaining how I could do it better. I did college football and he did NHL and then we would do MLB together.

This was beneficial in that we were always sending plays to each other and when it went well, it was a fun exchange and when it went bad... At least we could test our foul language vocabulary together.

My first poker partner was Kyle. Much like Dink and his NHL. Kyle is a successful no limit player and I was decent at limit. Friendships grew with bankroll growth but Kyle had a blackjack leak, I'll never understand it. We don't talk anymore, which never stops from being sad.

Here's my advice for selecting partners in any gambling venture whether it's a partnership, backing someone or getting backed yourself.

Make sure the work ethic is equal. If your working more or arent being reciprocated in effort and it's clear this is normal for the other party, pass.

Check around and make sure you can trust someone. Don't just go off and take a deal. Remember if it looks too good to be true... It probably is.

Financial structures are clear Makeup or no makeup. Freeroll terms make sense or is there a further incentive? Can you pull cash out or call it a season at anytime? Full transparency.

The most important to me personally. Are you respected? Is opinion highly considered? I had a partner in NBA once who would basically listen to my entire pitch for what I thought we should be betting and end it 10 minutes into a weekly call by interrupting me and saying okay thanks.

Don't allow that type of nonsense, there's no joy in working for or with people who don't respect you. You didn't get into gambling to be have coworkers and bosses who don't respect you.

If joining a group or partnership make sure you actually enjoy talking and being around the guy(s) as your likely to spend a lot of time with one another in some capacity.

Lastly my best advice is just be a bit selfish in what you want out of a partnership whether it's backing, freerolls, partnerships make sure it's a deal you're proud to tell your spouse or close friends about.

Once in a arrangement that makes sense for everyone, always listen to others ideas and try to feed off of each other and what they bring to the table... Oh and Dont be a dick at all costs.

Thank you to my partners present and past. Couldn't have gotten this far without you at one point or another.

There will be a announcement regarding this blog next week. Whether you're a weekly reader or a first timer. I can't thank all of you enough for the space.

Sincerely your friend, Eddie