from the agreement
Quote:
payouts ..
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15% of roll at each $500 landmark:stakee cannot withdraw from the role until the stake is finished except to make the milestone payments.
i.e when bankroll hits $500 you pay us $75
@$1000 pay us $150 total $225
@$1500 pays us $225 total $450
@$2000 pays us $300 total $750
@$2500 pays us $375 total $1125 then grind it back up to $2500 to end the stake
total profit therefore of 2500+1125-75=3550
at 50:50 split is 1775......less 1125 already paid + repay original 75$ stake leaves $725 to pay us and would leave stakee with a 1775$ bankroll and still comfortably rolled for 50 nl
follow the formula through.
bankroll at end +payouts to coaches - original stake = profit on the stake to split
0+0-75= -75.
this is then adjusted by the penalty clause
Quote:
penalties...
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all money lost playing above stakee's bankroll stake he owes us and will be taken from his share of the split at the end.
If the stakee goes bust at 2nl following the style that we advise the stakers will stand the loss of the initial stake.We don't want the stakee to think they can play fast and loose at 2nl and gamble trying to move up quickly. This is where the solid foundation to the stakee's game is going to be made and help to give patience.
If the stakee has a negative share of the split at the end of the stake , he owes us the money anyway.This is to deter stakee from playing above their roll.
you did not go bust at 2nl following the strategy we set out. On the last day you played fast and loose, weakened the cards you'd play and then played short handed and headsup.You made that decision and went ahead and did it without permission, you stand the days loss as a result.looking at the HEM data , on the last day you lost $103.78 and add on the $15 that you hadn't refunded to the roll from june 12th which you lost playing outside of the stake makes $118.78. DOn't forget as well Gary , This means that I am standing the first nights losses where you lost ~$28 and the later $12 spew session and all the times you shoved with air and lost a stack. Non e of those could be defined as playing the way that we advised.
According to the original agreement these out of stake losses were to be deducted from your share of the profit split and any negative would be owed to us. To deduct these out of stake losses from the final roll( zero) and then make you repay the original stake would be unfair as you pay the stake money twice although thats how the orignal agreement was worded as we expected a profit from the stake , not for you to gamble it all away. I think I'm being very reasonable to stand all the 2/4/5nl losses played before the last day as that included $40 of tilted spew and the agreement was worded to deter you from doing what you actually did .
And just to reiterate , there were no profits to split as you lost the entire bankroll.If you had said you wanted to stop before you lost the roll , the calculation would have been the $118.78 split but you didn't. you can't go back after taking a massive gamble and say that you want to reduce the aount you lost.You gambled the profits away . there are none to split.