I got an idea to use the power of my fellow ITHers to build a fund that will back promising up and coming MTT players into the Sunday Million. We’re going to pay up to 75% of their buy-in in exchange for a 5% bonus on their winnings. We’re treating it like a mutual fund and letting people buy shares which we will reprice each weekend. It has been extremely popular, raising almost $5,000 at the time of this post. We should be able to stake people for months even if we don’t see any winners.
I’ve got a few heavy hitters from ITH to review the applicants records (Tall Paul and Poker_Elmo) and we have been extremely diligent in checking out their pokerdb stats and looking at posts on ITH and hands we’ve played with them. It has been a bit stressful, because you hate to turn people down, but you don’t want to invest our friends’ money on people who aren’t +EV.
So far, we have a great slate of players and I hope that the effort returns some good results for both backers and players. I’m particularly proud of the idea that we will post all hand histories and do some good group self-review. I think this should encourage better MTT discussion at ITH and hopefully help some players to upgrade their game.
You can read the latest on the SharkDAQ on ITH.