Pros Clear Up Poker Staking Best Practices After Twitter Dispute
A dispute between Cate Hall and Chad Power broke out on Twitter this week, highlighting the potential pitfalls of poker staking. After the dispute made headlines, poker pros Jason Somerville, Jason Mercier, and others weighed in on the issue, giving their versions of poker staking best practices.
Pick a Profitable Horse – Somerville
Somerville drew on a horse racing analogy, saying stakers should pick a “horse” they know is capable of competing in the events they propose to play. He also advised stakers to check on the player's record of integrity. He warned stakers to assure the player will treat the stake like a professional investment.
Discuss Makeup Before You Agree to Terms – Somerville
When it comes to worst case scenarios, Somerville says everything has to be hashed out beforehand. When a player takes a break from poker, as Hall did during her staking agreement, a backer may feel justified in seeking the makeup.
A Player Can Buyout a Backer – Mercier
Mercier said a good staking deal will consider all situations in which one party wants out of the deal. If the player wants out, they should have the option to buy the makeup from the backer, called a buyout. If the player just wants to play less, they should give the backer to continue to stake their future games.
Backers Have Two Ways To Backout – Tristan Wade
Chad Power was adamant that Cate Hall owed him the makeup from their staking agreement. But as Tristan Wade sees it, refunds are not an option for backers who want out. They can either sell their makeup to a new backer or drop the player and lose out on all the makeup.