Tournament Staking allows players to monetarily back multiple players in an event, or back their friends or favorite players. You can also sell your own action to others and share the cost.
Staking is integrated directly into the poker app and facilitates investing in others by buying a percentage of their ‘action’; a proportion of the cost of their entry fee into the tournament with an added player-defined margin. Simply go to any tournament lobby and use the staking panel to sell your own action once registered, or visit the tournament lobby for any event that you wish to back someone in.
Rules for tournament staking
1. Players who wish to sell their action must first register for a tournament.
- After registering, sellers (players selling their action) must set the percentage of their action for sale as well as the mark-up that they are selling their action for.
- Players may only sell their action while a tournament is registering
- Sellers have the right to cancel their action at any time before a tournament starts.
2. Backers must pay the full amount of the total stakes they have bought.
- Stakes must be purchased in increments if 1%.
- Once a stake has been purchased, it is non-refundable except in certain specific situations.
3. Sellers are paid for the stakes they have sold when one wins or is knocked out of the tournament.
4. Any tournament prize money that a staked player wins will be distributed automatically amongst one's backers in proportion to the stake that those backers have purchased.
5. The following are situations in which backer's stake may be refunded
- If the backer has purchased a stake from a seller and this seller subsequently decides to cancel the sale of one's action.
- If the Seller unregistered from a Tournament before a it begins
- If a Tournament is cancelled for unforeseen circumstances.
6. Staking is not available for rebuy/add-on tournaments.
Is there a fee charged to players using the Staking feature?
No fee is charged to players. Any wins you share with your friends and other players are yours.
Is there a limit to the amount of my action I can make available to backers?
Action is sold in 1% increments. Players can sell any amount of their action between 1% and 100%
How do you calculate the total purchase amount when staking the action of a player?
First, you would have to calculate the Total Buy-in as follows:
Buy-in + Fee + Bounty (if applicable) = Total Buy-in
Then you would input the Total Buy-in into the following formula as follows:
(Total Buy-in / 100) * Markup * Share % = Total Purchase Amount of Stake
Total Buy-in = $23.75 Buy-in + $1.25 Fee = $25
Markup = 1.4
Let's say you bought 10% out of 45% of a particular player's shares.
Then the calculation will be as follows:
Total Purchase Amount of Stake = (25 / 100) * 1.4 * 10 = $3.50
Can I watch the tournaments unfold that my backed players compete in?
Yes, players can spectate any public table.
How do I buy player action?
Check the tournament lobby to see which players are selling their action. Players looking to buy action can also check the performance records of other players by viewing their staking profile before they purchase any action.
Is there a limit to the amount of players I can back?
There are no formal written limits in place for the amount of players you can back in a given event.
For more information about staking, check out our dedicated page: https://en.ggpoker.com/poker-games/staking-platform/
Note: Cashback only applies to players who sell their Stakes/Actions. Players who purchased any stake is not eligible to get any Cashback and or Fish Points.