Need to Know Safety Tips for Buying Poker Action

The majority of mainstream sports award prizes and money that is ponied up by sponsors and the organisation itself. Poker is pretty unique in that all of the prize money being played for is stumped up out of the player’s own pockets.

Yes, certain players are sponsored by poker sites and may well receive some tournament entries as part of their deals, but this is not the case for most players.

Six figure tournament buy-ins seem an everyday occurance these days, and the majority of players do not have a sufficient enough bankroll to play such tournaments, so they usually sell action. In layman's terms, they basically get somebody to put up some cash and in return pay an equal percentage of winnings back to that person.

Some players have an ongoing arrangement with one particular backer while others just invest in players as a one off. The latter is the more dangerous of the two in terms of attracting new investors and that is what this article will focus on.

What is all the fuss about?

So, why should you consider buying action from a player? Well there are a few good reasons. First off, I am sure many of you have dreamed about playing some large buy in tournament, but are either a) not good enough, b) do not have the bankroll, or in my case c) both.

If this is you, then buying a percentage of somebody’s action can be a great way to feel part of the whole process. It is a truly exhilarating feeling when your pick is going deep in a tournament with a seven figure first place, that you may have 2,5,10 or even 15% of.

If you truly care about the game, then buying action is also essential for the growth of poker. Without new players gaining investors and trying their hand at the higher stakes games, poker would hit a wall - we would get the same few guys passing money around at the top and no newcomers bursting onto the scene and inspiring others to do the same.

New blood is essential to the poker eco system and a great way of keeping it going, and reducing variance for tournament professionals, is buying and selling action.

The Key Things to Look Out for When Buying Action:

Research, Research, Research

I hope it goes without saying that you shouldn’t just wire over cash to anybody willing to accept it. Buying actions is literally invest, and should be treated as such. You wouldn’t buy a property or stock without knowing the ins and outs of the building or company and investing in a poker player is no different.

So, make sure you do your due diligence. HendonMob is a great resource for tracking live tournament earnings, and sites like Sharkscope and official poker rankings take care of the online side of the coin.

Results do not tell the whole story though. Consider the stakes that the player usually plays and the stakes they are selling. If the player is looking at playing much higher than they normally do or if they’re an online player looking to play a live super high roller, there normal results may not be a good guide. If their results are all from a long time ago, they may well be a break even or losing player in today’s games. A ny of these should be a red flag and cause you to do some further research.

It’s all about ‘Dat Rep’

It is a wonderful and unique thing that poker players can buy, sell, and swap action. Like I said earlier, it keeps the poker world going round, allows players to come out of a rough patch unscathed, and offers savvy investors a great way to make money.

When it all goes to plan, it is mutually beneficial to both sides and everyone makes money. Sadly, we don’t live in a perfect world, and poker attracts some individuals with less than stellar morals.

Reputation is huge in poker, and anybody serious about making a living playing the game should do everything in their power to keep their rep intact. When thinking about buying action, one would think it all boils down to skill. Is the player good enough? I would argue reputation is more important. Why? Because what is the point investing in a great player if you will never see a penny of their winnings.

Many great players have ripped off their peers over the years. Chino Reem, who has over $8 million in tournament winnings, is well known to owe investors a small fortune. Double EPT runner up Max Heinzelman has huge debts to players. Another that comes to mind is Nick ‘MI Turtle’ Rainey who now has his own website outing him publically.

My aim is not to put you off here, just to highlight the dangers so that you can have a positive experience. I personally have been backed and bought pieces of players on many occasions without issue and thousands more have done the same.

Are They Looking For a Freeroll?

When looking to invest in a player, you have to see what they are getting out of it. Are they looking for 20-30% to help reduce their variance or cover expenses? That's pretty reasonable in my opinion. Are they out to completely freeroll the tournament? If a player has no financial investment at all, they’re more likely to play recklessly and go for the win instead of settling for a good pay day.

When looking at this, you must consider markup. For example, they might be selling 20% for a $10,000 tournament at a 1.2 markup. What this means is they have essentially increased the buy in by 20% so that regardless of the outcome, they make some money. If you were to take the full lot, you would be paying 1.2 times the buy-in, but still only winning the $10,000.

This is not necessarily bad, some players who have a big edge over the field more than justify that price. But some players could be selling 70% of a tournament at 1.3, which means they will not be playing with a penny of their own cash and will get to keep 30% of any payout.

Where to Buy Action?

So you know the dangers but still want to go ahead and have a sweat with someone in the upcoming WSOP or another big tournament. Now you need to know where to go to buy the action.

There are many places to buy. You will see player’s selling action on Facebook or Twitter, others opt to use the dedicated sub forums at sites like TwoPlusTwo and PocketFives and some use one of the many dedicated poker staking websites out there like Chipmeup.com or Youstake.com.

My personal recommendation, though, is the PokerVIP Marketplace. They have two really great things going on there, both of which are a benefit to anyone looking to buy. First and foremost, I know some of the players who sell action there, and these people are serious business. If you see someone with a markup, they've probably earned it over thousands and thousands of hands.

Second, and more importantly, the guys who run the market have a promotion where they cover unbought action. What that means is that if a player needs a 50% stake and he only gets 30%, the website itself will actually buy up the rest to make sure that player gets to play. I don't know anyone else offering that kind of guarantee, making it one of the most reliable places to buy action. Nothing sucks like staking a big player and finding out they didn't sell enough stake to even get to the event.

All that’s left to do now is get your hand in your pocket - good luck.