What is Poker Staking? The Best Poker Staking Sites
Staking in poker has become a big part of the game. From big stories about players running lucrative "stables" of "horses" to the rise of staking exchanges like StakeKings.
There are several ways that poker staking works and these vary in complexity. From the simplest case of buying some of a friend's action in a single tournament to complex multi-year contracts with multiple players. Players new to staking in poker may be overwhelmed by terms like "stake horse" and "markup," but we're here to help you with our complete guide to staking in poker.
In this article, we'll offer you a guide to poker staking that will answer what poker staking is, how you can get involved, and what you need to watch out for along the way.
What is Staking in Poker?
Staking in poker is the process where a person invests in a poker player's performance. This can take many forms, the most common and accessible of which is 'buying a player's action', often through an exchange. So, that is the form we'll focus on here.
How Does Staking Work in Poker? Poker Staking Explained
The usual way that staking works is that a staker pays money to a player on the understanding that the staker will get back a given percentage of the player's stack, payout, or profit.
For the staker, staking might be a favor to the player, an investment opportunity, or a way to make railing more fun. For the player, it might be a way to mitigate risk, reduce variance, or get friends and fans involved.
Example of Staking in Poker
A basic example of staking might look like this:
A player wants to play a juicy tournament with a buy-in of $2,000. However, this player isn't bankrolled to risk more than $1,000 on a single tourney. So, the player goes to a friend and makes them this offer: if the friend gives the player $1,000 now, then the player will hand over half their final payout to the friend at the end of the tournament.
In staking terms, the friend has staked the player in the tournament. The friend put up 50% of the money and gets 50% of the player's payout.
What is Markup in Poker Staking?
"Markup" refers to any premium that a player charges when they sell their action. This is quantified using a decimal multiplier that is applied to the price of the action.
Example of a Markup in Poker
In the previous example, a player sells 50% of their action in a $2,000 event. They charged $1,000 which means there is no markup (or more accurately the markup is 1.0).
If the player charged the friend a markup of 1.2, then that 50% stake would now cost the friend $1,200. This price is calculated as follows: the 50% stake multiplied by the $2,000 buy-in (that's $1,000) multiplied by the markup of 1.2 (which gives us $1,200).
The friend still only gets 50% of the player's winnings. But that might still be a good investment if the player is good enough.
Poker Staking Markup Calculator
An easy-to-use Poker Staking Markup Calculator takes all the difficulty out of figuring out how much your stake should cost. It quickly calculates the correct price and makes your poker staking experience that much smoother.
How Does a Poker Staking Calculator Work?
Fill in the boxes by entering the markup, the buy-in, and what percentage of the action you want to sell if you're a player or buy if you're the staker.
Then the Poker Staking Markup Calculator will figure out the correct amount to charge or pay.
The Best Poker Staking Sites - What Sites Can You Stake on?
Several sites allow you to stake other players (often charging a small fee for managing the sale). Some of these sites are stand-alone businesses while others are tied to particular brands (like GGPoker's inbuilt staking system).
Here are some of the best places to get started with poker staking online.
- StakeKings is one of the biggest online staking sites out there.
- GGPoker offers their own platform for staking other players in GGPoker events.
- PokerStake is an online staking exchange with some high-profile professionals such as ElkY, Jonathan Little and Allen Kessler.
Poker Staking on StakeKings
StakeKings has a massive market of poker players. From everyday grinders looking to reduce their variance to poker super stars letting fans taste a bit of their action, there's a player for every punter.
The easy-to-use platform quickly gets you from sign-up to payout with quality instruction and support the entire way.
How to Start Staking on StakeKings
To start staking on StakeKings all you need to do is set up an account with the company. Once your account is verified, you can browse the marketplace, find your picks, and stake players with just a few clicks.
Why use StakeKings for Poker Staking
StakeKings provides the staker and the staked with a reliable middleman to handle any transactions, disputes, and other admin. The platform is easy to use and comes with a solid reputation, quick deposits and withdrawals, and an option for backers to chat with their horses through the platform.
StakeKings is secure and transparent. It acts as your broker, escrow account, and wire service, providing security and transparency at every stage of the staking process.
The detailed terms of service lay out exactly what you can expect which creates transparency, and the business is based in Delaware providing customers with a key point of contact in a business-friendly state.
StakeKings is proud of its quick and easy deposit and withdrawals process. Payments for package events are usually completed in under two hours, online events in under 24 hours, and live events in under 72 hours.
Withdrawals are comparable in their speed and reliability.
The StakeKings platform allows backers and stakers to contact their horses. Creating chat groups allows backers to follow the player's action and allows the player to keep backers updated on any changes to their plans.
The StakeKings online platform allows a great deal of customization. Players can offer individual events or carefully structured packages. You can get staked (or buy action) for a hundred-dollar online event or a million-dollar WSOP season.
The quickest way to get started staking players on the StakeKings platform is simply to visit the StakeKings website and click the sign up button. Follow the instructions on the form to set up your account and away you go...
Poker Staking on GG Poker
The major difference between GGPoker and other staking sites is that GGPoker only allows you to buy and sell action on GGPoker tournaments.
The system is event-specific. So, you have to open the lobby of any event you want to buy or sell action in. Buying and selling is then controlled from the "Staking" tab for that event.
How to Start Staking on GG Poker
GGPoker's staking option can be accessed by buyers or sellers by clicking the "Staking" tab in the tournament lobby of any eligible events. This will open a page that allows you to sell your own action or browse and buy the action of other players.
To sell action, just confirm your markup and how much you want to make available. To buy action, select a player and confirm how much you want to buy. GGPoker will then handle the rest.
Advantages of Staking��Why Stake Someone in Poker?
Why would you want to stake a player? When you stake someone you are making an investment that is contingent on their success. As a staker your usual motivations are things like supporting a player you like, turning a profit, or chasing some excitement.
Whether you are a fan or a friend, buying action from a player is a great way to support players you like. It helps them play bigger events, get more experience, and manage their risk.
If you buy a player's action and they win money, then you win money. As a result, if you find a spot where a player's average ROI is higher than the markup they are charging, then that's a profitable investment for you.
If you can consistently find these spots, then you should turn a profit in the long run.
If you're watching poker on TV or just stuck on the rail because your ride is still in the tourney, then having a stake in one of the players can make the game that much more exciting. When you buy action, you go from being a passive audience member to having skin in the game.
Advantages of Staking - Why Get Staked in Poker?
If you believe in yourself as a player, why would you sell your action? Every percentage point of action you give away is a percentage point of profit you don't get to keep. Well, there are several good reasons why you might choose to get staked as a poker player.
Staking is a great way to mitigate the issue of variance. It allows you to swap some of the speculative profit of your expected ROI for the certain profit of your markup. This can make your income more stable and reduce your risk of ruin.
Good bankroll management will determine the highest possible buy-in available to you. If you want the learning experience of taking shots at higher stakes or you know of a very soft high-stakes game, staking allows you to play in those events without violating your bankroll's Kelly criteria.
If you want to give someone a thrill or involve your fans in your action, then selling action can be a nice way of doing that. Daniel Negreanu doesn't need to sell action, but he often does just to give his fans a chance to get into the action.
Three Things To Consider Before Staking Someone in Poker
Before staking another player, it is worth taking a moment to assess why you want to get into staking other players. You should also consider the markup and the legitimacy of the staking offer.
These factors will determine your priorities and the style of staking deal you want to set up or seek out.
1. What is the Purpose of Staking?
The main reasons to stake a player are to support a player, get some skin in the game as a spectator, or��most commonly��for profit.
Make sure you know why you��re staking the player as this will dictate the type of deal to pursue.
2. Is the Markup Worth Staking?
Look at your chosen player's markup and ask yourself if it is a fair representation of the player��s ability. Consider the strength of the tournament field as well as the player's talents.
Even if you are staking a player for entertainment or to support them, you want to avoid being ripped off by overly high markup.
3. Is the Staking Legitimate?
In the old days, staking was built on personal relationships, reputations, and the grapevine. Nowadays, the internet allows you to stake players you've never met in person��or even heard of before!
As a result, it's important to make sure that you are protected. A reliable intermediary, especially staking sites like PokerKings and PokerStake, can give you that security. Watch out for anything unregulated or with a reputation for being unreliable.
3 Things To Consider Before Getting Staked in Poker
When approaching staking from the horse's perspective, the key thing to remember is that you are a product. Consider who you want staking you and why.
In particular, pay attention to why you want to be staked, why someone else should want to stake you, and what the highest fair markup will be.
1. Why Are You Getting Staked?
Your reason for wanting to get staked will be key to dictating your markup. If you're trying to give back to an audience, you may want to eschew markup entirely. However, if you're mitigating your risk by selling to the public at large, you want to be careful of underselling your value.
2. Why Would Someone Stake You?
There are lots of reasons a person might want to stake you. They could be a personal friend wanting to help out, an investor looking to make a profit, or a fan looking to support you. Consider the type of person you want to stake you and create your package with them in mind.
3. What Will Your Markup Be?
If you're selling to the general public, then getting the right markup is vital. Overpricing yourself will make it hard to sell, underpricing will leave money on the table.
Once you know what you're worth, you can make adjustments to your markup based on the other two considerations.
Poker Staking FAQs
Can you make money staking poker players?
Yes. You can make money from staking poker players. However, as with all forms of investment or gambling, profit is not guaranteed and losses are possible. Don't use money you can't afford to lose.
Is poker staking legal?
This depends on where you are in the world. Check your local regulations. However, staking is legal in most of the places where poker is legal.
Is there a poker staking app?
There are several sites you can use for staking. Some of them, including GGPoker have apps that you can use for staking.
Can you do poker staking in the UK?
Yes. You can stake poker players if you are in the UK.
Can you stake someone in a poker cash game?
Yes. This option is less common online or through brokers. However, person-to-person staking in cash games is very common.
Can you stake someone in a poker tournament?
Yes, you can stake poker players in poker tournaments. In fact this is the most widespread form of staking.
Do you need a contract to stake someone in poker?
No. However, good practice is to get agreements like this in writing or to use a company like YouStake to enforce the contract. As the saying goes, a verbal contract isn't worth the paper it's written on.
What is the best forum for poker staking?
Most poker forums have areas for staking discussions. However, we advise the buyer to be especially wary.
