Backing at GGPoker: how to buy and sell shares in GGPoker tournaments
Backing in poker is a fairly popular thing. If earlier it was only talked about sponsorship in the expensive events and live cash games, but now the players often play online from the backers.
The young and progressive poker room GGPoker succeeded in this matter – it offers backing exchange inside the room with a guarantee of funds protection.
GGPoker backing is a unique feature available in GGNetwork. Its essence lies in the fact that you can sell shares for the tournament in which you play, and become the backer for other players of the room by purchasing their shares.
How to sell shares in the tournaments at GGPoker
In order to put shares up for sale, you should:
- Register in GGPoker online tournament (except rebuy tournaments).
- Go to Backing (Stacking) tab. It is in the tournament lobby.
- Set the size of shares which you want to sell and the desired ratio.
That's all. After that, anyone can buy shares which you put out for sale.
Particularity of backing exchange at GGPoker
- The shares are sold in all tournaments except rebuy tournaments.
- You can buy shares in an amount equal to 1%, and backer should pay immediately the entire amount of shares which he purchased.
- You can sell shares only after registration in the tournament and until it is open. You can cancel the sale at any time before the event starts.
- The player determines independently the coefficients and size of shares which he sells.
- During the selling process, the players confirm that they sell shares voluntarily, and also agree to make their backing profile information available to potential backers.
- When buying the shares, the player agrees with the terms and conditions of backing at GGPoker, which state that you are aware of the risk of losses, and confirm that you make a purchase independently and voluntarily.
- The buyers can’t cancel a purchase of shares (except specially defined events).
- The player receives money from backers for sold shares after he leaves the tournament or wins it.
- Prize money is distributed between the player and backers automatically, in accordance with the percentage of shares purchased.
In what cases backer can refund money?
The player-backer is entitled to get his money back in the following cases:
- the sale of shares was canceled by the seller;
- the player canceled registration in the tournament for which he sold his shares;
- because of unforeseen reasons or technical problems due to which the tournament was canceled.
GGPoker backing profile
Each player who put the shares up for sale through GGPoker backing exchange has his own backing profile page, which displays his tournament history. It is available to all potential buyers of shares, it helps them to find out success of the player and make the final decision during the purchasing process.
If you plan to buy an action in GGPoker tournament from a player, we recommend you to study his backing profile before this.