Backer Wants 50% and Also 75% Of Losses

[jjgold]

50,000

50% Profit and 75% Losses whatever final number is after superbowl

BAD DEAL FOR ME

 

[eddycash]

Trying to understand your statement. The backer wants to take 75% of the losses? That's a good deal.

 

[eddycash]

You should attempt to write in complete sentences bro.

 

[JDS]

Your decimal in the wrong place.

 

[eddycash]

I had a poker backer years ago that took 50% of my profits and 100% of my losses. I made him some profit.

 

[JDS]

Your decimal in the wrong place.

Comma separator rather.

 

[jjgold]

Say I end up losing 20,000 for season, I have to pay the backer 15,000

If I win 20,000 for year I have to pay the backer original investment of 50,000 and then give him $10,000 of the profit

 

[JDS]

Say I end up losing 20,000 for season, I have to pay the backer 15,000

If I win 20,000 for year I have to pay the backer original investment of 50,000 and then give him $10,000 of the profit

Is there a correct term for this kind of loan arrangement ?

 

[jjgold]

Jds sounds like a bridge loan

 

[Stallion]

Thats difficult JJ because you have to win, if not you are on the hook for money you may not have.

 

[Pimike]

Pass

 

[rdalert447]

JJ, more money won’t help you. Take Fazzer’s advice please.

 

[hustledouble]

Say I end up losing 20,000 for season, I have to pay the backer 15,000

If I win 20,000 for year I have to pay the backer original investment of 50,000 and then give him $10,000 of the profit

Brother you are gonna end up with two left kneecaps doing this