Joined: Mar '11
Location: Canada
Age: 44 (M)
Posts: 1490
Okay, so I KNOW I have a history of getting on people about begging for stakes, which is WHY i'll start this off by saying this is NOT a stake thread. A BAP (Buy a piece) is an investment pool, where players buy shares in a collective tournament run. We used to do these all the time back in the FT forums, and they almost always turned a profit.
What I'm looking to do, is put together a BAP for the Steps tournaments on FT. I just did a run through them, where I started off with 45 BI, and started from step 1 ($3.30), and ran to step 3($26) at which point I used the $26 ticket to buy into $26 matrix super turbos.
Did EXTREMELY well in the steps part, and managed to turn 45 $3.30 BI = $148.50 into 13 $26 tickets. Net profit $189.50
The $26 matrix are SOOOOOO soft, but ran into some incredibly sick beats. Still ended up turning the entire run into a profit of around $137.85. So to sum it up, I ran $148.50 into 286.35, which means I almost doubled my money. I am 100% confident I can destroy these, and would like to do a bigger run this time.
What I'm looking at doing, is running 100 buyins, starting at the $3.30, and running until the entire 100 buyins is gone. Anything won at the $26 level will be seperated from the buyins and put towards any profits for the BAP..
What I project:
What I project, based on my previous run is:
100 Step 1's = 80 Step 2's 80 Step 2's = around 40-50 Step 3's. 40-50 Step 3's = $$$? profit at the $26 matrixes.. With 40-50 shots at the $26's, it should be NO problem at LEAST making $200 profit, if not more. I'd say I'm confident I can at LEAST double the investment, as long as I don't get face-slapped by variance.
The reason these numbers are so high, is due to the highly skewed pay structure of the steps. I found around 90% of the time even If I didn't win a ticket for the next level, I at least won my buyin back. The odd time I did bust out before a re-try, but even 6th gives around 30% of your buyin back in cash.
So what I'm looking at is selling shares at $3.30 each, 100 shares total. I'll assume the bulk of the risk, and will personally buy 40 shares, leaving the other 60 open. This means I'm looking to raise around $198, and I will put up the other $132.
At the end, profit would be divided by 100, and that's what share would equal. So for example, if the BAP ended with $660, each share would return $6.60.
I'll include a copy of my graphs. Please note, the $26 matrixes show at $6.25+$.25, because HEM2 seems to seperate them into seperate tournaments for some reason, even though they are effectively 1 game.
Graph 1 is JUST my run through the steps. Graph 2 is JUST my run through the matrix tourneys. Graph 3 is both. Note that even though I took a loss in the matrix tourneys, I still ended up making money because of my performance in the steps.
Edited by retribution (28 November 2012 @ 01:49 GMT)
Posted by fcumred: BAP is staking. whatever way you want to go around it, its staking.
Well whatever you want to call it, I'm not some random. I'm a forum reg who's been here for over a year and I've got a proven win-rate.
Fair enough, and I may be tempted to Buy a piece.
My only problem is the s**t you've given other people ( undeservedly ) when I gave them money to play poker with. I gave them that as a gift and you tore into Pochui which was well out of order.
Now your here doing exactly what you claimed he was doing ( which in fact he wasn't ) and asking for a stake...
Thats why I've got a problem with you coming out and asking for a stake, because you give crap to everyone else about it.
Joined: Mar '11
Location: Canada
Age: 44 (M)
Posts: 1490
Posted by fcumred:
Posted by retribution:
Posted by fcumred: BAP is staking. whatever way you want to go around it, its staking.
Well whatever you want to call it, I'm not some random. I'm a forum reg who's been here for over a year and I've got a proven win-rate.
Fair enough, and I may be tempted to Buy a piece.
My only problem is the s**t you've given other people ( undeservedly ) when I gave them money to play poker with. I gave them that as a gift and you tore into Pochui which was well out of order.
Now your here doing exactly what you claimed he was doing ( which in fact he wasn't ) and asking for a stake...
Thats why I've got a problem with you coming out and asking for a stake, because you give crap to everyone else about it.
Well, the people I tend to give a hard time to, are the ones who have 1-2 posts here, post in poor english, and can't be bothered to take the time to lay out a plan, let alone what they want to achieve. I think there's a big diff between my post, and the typical "Kin I plz has free moneys". As for pochui, I feel bad going off on him.
On another note, I don't NEED to run this to continue playing. I have the roll to play it on my own. The point of a BAP is to share some of the risk, while also sharing all of the profit. Like I said, we did these on FT all the time and not only were they profitable, but they actually helped build the community a bit.
I am 100% confident I can turn this into a profitable endeavor, variance permitting.
Joined: Mar '11
Location: Canada
Age: 44 (M)
Posts: 1490
Posted by jessthehuman: I'm interested - not sure how much for though, maybe $50-100 depending who else takes it up.
I'll put you first on the list then. Thanks for the interest.
I forgot to put in my OP, but any points accumulated while playing this will go towards buying additional buyins. $3.30 tickets are 750 points each, and I am thinking I should get enough points for a few extra tickets. As well, once I hit silver-status, I get 10% RB which would also contribute to the profit.
Updated OP to add a SS of my FT client. Transferred the rest of my roll, minus what I'd use for the BAP to a seperate account, to make keeping track of profit easier.
Edited by retribution (28 November 2012 @ 04:29 GMT)
Joined: Mar '11
Location: Canada
Age: 44 (M)
Posts: 1490
Posted by jessthehuman: Oh btw my FTP account was banned about 3 years ago, I'd have to p2p transfer to you on stars, I assume that is not a problem..??
I guess it gives me a reason to pair my accounts lol.How were you banned if you don't mind me asking? Lol.
For FT transfers, Retribution1979 city initial R avatar pirate. Arrr. For PS transfers, Sevendeuce79
Remember, shares are in increments of $3.30.
Edited by retribution (28 November 2012 @ 05:29 GMT)
Joined: Apr '09
Location: Australia
Age: 40 (M)
Posts: 6483
Posted by retribution:
Posted by jessthehuman: Oh btw my FTP account was banned about 3 years ago, I'd have to p2p transfer to you on stars, I assume that is not a problem..??
I guess it gives me a reason to pair my accounts lol.
hehe. Yeah - totally worth doing anyway. This Stars/FTP transfers thing combined with the fact I'm going to play Stars regularly now instead of PKR makes me want to get my FTP account un-banned.
All that happened was this: I lived with my dad and his partner, they both had play money accounts at FTP, then I created my own play money account.. Then later I discovered NDBs (via another site) and took a FTP bonus and created a new real money account (only had a play money / .org account before then). However - my dad and his partner then also learnt about freerolls and signed up to real money accounts too, by this stage we each had 1 play money plus 1 real money account, then those guys forgot their real money passwords and like n00bs instead of resetting it, much to my horror they just created new accounts lol, so by this stage there was like about 10 accounts in total for our house, though I only ever had 1 real money account.
At any rate, FTP ultimately said WTF and closed all but one account, which happened to be my dads. I explained the situation and they said OK send us your ID/Bank statement/etc and I did - but then they said we also want all that for your dad and his partner, they couldn't really be bothered though plus being 'older' weren't to keen on emailing their personal information like that.
So I never bother pursuing it any further, since by this stage I already had a bankroll going on PKR.
But now, fast forward 3 years, I don't live with my dad now, so IP address is totally different, so hopefully I could have an account back now.. I never actually did anything wrong to lose it.
Joined: Mar '11
Location: Canada
Age: 44 (M)
Posts: 1490
Posted by fcumred: Hang on.. THe other day you posted a chat between you and a german on FTP and you used the username FUNNYGUY
Yes. I changed my name for humor purposes? Dude, I'm not here to rip people off. I've been posting here for over a year, I've got nothing to hide. Heck, I even left my full name in my FT screeny. You can sharkscope that name, the only site it shows on is skypoker. Apparently I'm not the only one with a sense of humor lol.
Posted by fcumred: Hang on.. THe other day you posted a chat between you and a german on FTP and you used the username FUNNYGUY
Yes. I changed my name for humor purposes? Dude, I'm not here to rip people off. I've been posting here for over a year, I've got nothing to hide. Heck, I even left my full name in my FT screeny. You can sharkscope that name, the only site it shows on is skypoker. Apparently I'm not the only one with a sense of humor lol.
OK, but its a bit suspicious.. You definitely had your username on PS as Retribution until you edited it.
Thats what got me suspicious. I've been caught before by multi accounters who then got banned and I had money taken back from me because of it.
Joined: Mar '11
Location: Canada
Age: 44 (M)
Posts: 1490
Posted by fcumred:
Posted by retribution:
Posted by fcumred: Hang on.. THe other day you posted a chat between you and a german on FTP and you used the username FUNNYGUY
Yes. I changed my name for humor purposes? Dude, I'm not here to rip people off. I've been posting here for over a year, I've got nothing to hide. Heck, I even left my full name in my FT screeny. You can sharkscope that name, the only site it shows on is skypoker. Apparently I'm not the only one with a sense of humor lol.
OK, but its a bit suspicious.. You definitely had your username on PS as Retribution until you edited it.
Thats what got me suspicious. I've been caught before by multi accounters who then got banned and I had money taken back from me because of it.
Hey, no problem. My gf also plays on FT, and sometimes we'll play a game or 2 together, more like her playing and me wincing when she plays bad lol.
Like I said man, I've got absolutely NOTHING to hide. As for my edit, like I said, posting on my phone, I guess it just auto-corrected or some s**t. Went back and fixed it because obviously I don't want funds going to the wrong person.
