Here's the deal.... he's making YOU the offer, so basically ,you should take whatever he offers - assuming you have nothing better to do with your time, and more importantly, that you weren't planning on playing anyway. If you were planning on putting yourself in, that it's your own personal preference if this is enough for you.
Now... if YOU were the one seeking a backer, you could ask for whatever you want and see if anyone takes you up on it. But this case is different. I think I'd take it if I was you, especially if there is no makeup. Look at it as a nice freeroll, with payouts that happen to be 75% less than what is posted on the site. Still pretty hard to pass that up...
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