In the money?

To all my friends:

I’m sure it’s no secret to any of you that poker is my passion. It should be pretty obvious since I asked you to come here to my, umm, poker blog. As most of you know I have been going out to Las Vegas since 2010 to play in the World Series of Poker, where I have played in a few of the smaller buy in events. God knows I don’t have the money to play in the Main Event, where the buy-in is $10,000. I mean, come on, let’s grab some reality. However they also have over 50 other events, where the buy-ins range from $1000 to $10,000.

It is a common practice in the poker world to “sell a piece” of yourself if you want to play in a tournament. The backers pay a percentage of your buy-in, and you in turn pay back the same percentage if you finish in the money. So here is what I propose. Paul and I are headed to Las Vegas in June and I would like to play in Event #36, which is scheduled to start June 20^th. The buy in is $1500. I would like to see if anyone would like to buy a percentage of me in that tournament.

The upside: Last years’ winner won over $311,000. So using that as an example, if someone bought 10% of the winner, paying $150, they walked away with 10% of the winnings, over $31,000. Quite a nice turn on an investment. But even if I don’t win, maybe I could make it to the end of day one. If you made it to the end of day one last year, you were in the money to the tune of over $5200. 10% buy in = $150. 10% of day one winnings = $520

The downside: You could win nothing! Not a thing! I could go out on the first hand due to incredibly bad luck. I don’t think that would actually happen, but you never know. Poker is a weird game sometimes. Now as a full disclaimer, I have never cashed in a WSOP tournament. I did cash in 2011 for $625 at a smaller $125 buy-in event, finishing 45^th out of 630. And I have won twice and cashed in many other smaller tournaments in Las Vegas and at Winstar in Oklahoma. But a WSOP bracelet event? Nope, no cashes.

Now I am not asking for anyone to put up 20, 30, or 40%. I would not really feel comfortable asking my friends to put up that kind of money. Besides, I know money is pretty tight all over.  But if you backed me with 5 or 10%, that’s still a great return on a little bit of money. If you want to back a small piece of me, that’s great. If not, that’s great too. You all are still my friends and nothing would change between us. But I thought that it would be a great way to defray some of my expenses and, at the same time, let someone out there share the excitement of a big poker tournament and maybe win some money.

Email me and let me know: glenn@jaxxsupply.com