This is why the problem exists in my brain. I do feel a bit beholden to my previous investors. However, aren't those agreements over and haven't I fulfilled them?
As a new horse, I knew I would have to make an appealing BAP ad with very little risk to investors to attract them. Orginally, I wanted to build a good rep and ultimately transfer more of the risk to the investors, and run shorter term ventures. My plan to do that was to offer cake, a BR management plan, and an extension clause that virtually guaranteed profit for the investors.
I was successful. My BAP ad, as worded, with all the safety nets in place, attracted much attention. Now, with the investors help, I have built my own reputation at the site. I am not a "baller," but I made the most of the opportunities offered to me at PTP so far, and I have built my own reputation. As you know, when new members are entrusted to the bankrolls I have been entrusted to, it can go many ways. Mine have gone the way they have. That's all I will say about it.
I am flattered that you would call it "rewarding" people to invest in my BAPs, however I don't look at it that way. I look at it as rewarding my previous investors by having an "extension" clause in my BAPs that would extend the BAP until we reach profit, if it ended down in it's normal course. I am now talking about removing that extension clause, and most of the BR management part of the BAPs.
I plan on running short term very specific BAPs, win or lose (still with cake.) For example, 100 games of $27 45-man games from 50 buyins. No dropping if BR reaches whatever, no extending if we are down. 100 games and over, win or lose. Cake still offered and honored.
Hypothetically, if I run ten identical BAPs of 100 SNGs each, I would expect 7 to profit and 3 to lose. These expectations could be altered significantly by actual results. Without an extension clause in those three losing BAPs, it doesn't quite seem like a reward for those investors. The reward doesn't come until the BAP is over and it is in profit. No?
Before anyone asks about cake. I do not offer two kinds of cake. In my SNG low risk BAPs, I offer full standard cake. In my high risk MTT BAPs, I do not offer cake at all, but offer a 70/30 backers split instead. I mention this in case it affects anyone's opinion here.
Finally, to further offer reasoning for being staked, there are many. I think it is a matter of perspective. For me it just makes sense in the long run. I realize if I win I am giving up half my profits, however, IMO it is worth it for a more stable income if I can keep my funds available to stake other horses.
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