Yes, online poker is currently (pretty much) “dead”. But, our series: “Suckout! A Horse with No Name Recognition” continues – and, now YOU can be a part of it and buy a piece of Karaoke Phil. Here is what he is offering you……
Two Package Offerings (synopsis):
A: 2 Midwest Poker Classic and 4 Fall Poker Classic Tournaments
NLHE Ironman Freeroll, Spread Limit OH8, 2 OH8 and 2 Mix Limit NLHE/OH8 tournaments
$15 for each 1% of action purchased
B: 2 Midwest Poker Classic and 3 WSOP Circuit Tournaments
NLHE Ironman Freeroll, Spread Limit OH8, HORSE tournament and either 2 NLHE or 1 NLHE, 1 OH8
$20 for each 1% of action purchased (WSOP piece of the action at 1.2%)
To buy a Piece of Phil email us at firstname.lastname@example.org .
If you have questions about this – post a comment and we’ll respond.
What follows is the overly detailed explanation from Phil including finer points of the offer.
Hello everyone – Karaoke Phil here. If you’ve followed our blog for some time you may remember our series on Staking players. In it, Mark, staked me with $50 to play five $10 online tournaments – we only got through 3 of them. Then “Black Friday” hit. Since I had prolonged the play long enough already I thought we could finish it “live”.
Here’s the proposal:
I’m looking at selling two packages – a Midwest Poker Classic/Fall Poker Classic opportunity and a Midwest Poker Classic/WSOP Circuit offering.
Package A) – This will be a six tournament package at $15 per 1% of my action from the Midwest Poker Classic at Running Aces and Fall Poker Classic at Canterbury Park. I’ll sell up to 40% of me in this package. So, for every percentage point purchased – you have the chance to reap profits from any of the 6 events that I’ll play. In the Midwest Poker Classic I will play the Ironman Freeroll on Sept. 26 and the OH8 Spread Limit Tournament on Sept. 28.
For the Freeroll, I will purchase 2 add-ons giving me a starting stack of 12K in chips. The OH8 event is a bit different from last year (where I final tabled and cashed – finishing 7th). They have gone from straight limit last year to a spread limit format this year (up to 5 times the BB may be bet). It’s a bit of different dynamic but functionally I’ll approach it with a pot limit strategy. Preflop will largely play that way and keeping that frame of mind throughout should pay nice dividends.
I will play four tournaments in the Fall Poker Classic – two each of OH8 and Mix Limit Holdem/OH8. In past years there have only been a single tournament of each of these (with the Mix Limit being a newer addition) so I’m excited for the chance to really play.
I have a decent live OH8 record – in 10 tournaments I have cashed twice and cash bubbled once. I have also finished top 30% of the field in 6 of the 10 tournaments.
Package B: – I’m even more excited about this offering. You can buy 1% increments of my action for $20 each on this five tournament backing cover. In this package I’m selling up to 50%. It includes the same two tournaments of the Midwest Poker Classic listed above – so, should both packages “sell out” I would still have 10% of the MPC’s two events dedicated to me with 90% going to backers.
The other three tournaments in this package are for the WSOP Circuit Event being held at the Horseshoe Casino in Hammond, IN (just outside Chicago). This is why I’m jazzed up about this package – it is centered around a HORSE tourney. The schedule isn’t up yet set so I will play a NLHE and OH8 event or two NLHE tourneys for the rest of this package. In all humility but with complete honesty – I believe I am one of the best undiscovered HORSE players in the country. Now, I’ll temper that with letting you know I’ve only played the HORSE online – outside of live home games. With that in mind I’m going to offer a “markdown” on this portion of the package. It’s my understanding you pretty much NEVER hear of a markdown – it’s always a “markup.”
Here’s the idea of a markup – if the markup is 10% then you need to pay 1.1 x to get a percent of the pay/profits. So, in this scenario – with the “base” at $20 you would need to pay $22 to get the percent. I’m going to offer the reverse of this package for the WSOP Circuit portion. I’ll give you 1.2x for each $20 – so, buy 10% for $200 and you’ll get 12% of the WSOP Circuit action. Remember, the MPC portion is at even money. I simply want to get in a live HORSE tourney so I’m willing to give you more so that I can get the experience.
According to my Official Poker Rankings stats – I have cashed 22.4% of my “other” tournaments (any variety outside of Hold’em or Omaha) from 2007 to Black Friday, 2011.. These are all tournaments with more than 30 players (so, multi-table tourneys). That is over 174 multi-table tournaments.
I need to note a couple of other items on these packages. First, I am offering “make up” – Stakers will be paid back first from winnings. Once all the Stakers receive their backing amounts – then the profit percentage splits/payouts will kick in.
Second, I keep any hardware won – be it a trophy or that coveted WSOP Circuit Championship Ring – that’s all mine.
Third, at each backers discretion we will bring you into the “Suckout” series via interviews, blog postings etc. If you want to stay anonymous – that’s cool. Otherwise, we’re ready to talk to you and let our listener base hear/read about it.
Lastly, to guarantee Package B becomes a reality I’ll need to sell a minimum of 30% of my action. Otherwise, I may not be able to cover travel/hotel for that piece. Note: Package A will happen no matter what is sold.