Staking and Backing: How to Build a Profitable Poker Staking Portfolio in 2025

A skilled poker player sits down at a $10,000 tournament. He has the ability to win. He does not have $10,000 to risk. Somewhere else, an investor has capital but cannot play at that level. They formThere are occasions when we here at ReadyBetGo want to bring you interesting facts about the gambling industry  When something catches our eye, we will publish it for your enjoyment. 
  an agreement. He plays, the backer funds, and they split the winnings. This arrangement, called staking, has become a structured industry with its own platforms, pricing conventions, and legal frameworks.

The 2025 World Series of Poker Main Event drew 9,735 entries and generated a prize pool of $90,535,500. Michael Mizrachi took home $10,000,000 and his eighth bracelet. The WSOP Paradise Super Main Event pulled in 2,891 players and created a $72,275,000 prize pool, the largest outside the Las Vegas Main Event. These numbers represent the kind of payouts that make staking attractive to those with money but without the hours at the table.

Building a staking portfolio means treating poker players like assets. You assess their track records, negotiate profit splits, manage risk across multiple players, and account for fraud. Done poorly, it burns money. Done well, it generates returns that rival private equity.

How Markup Pricing Works

Markup determines how much a backer pays for a share of a player's tournament action. If a player sells at 1.2 markup, they claim a 20% expected return on investment in that event. A backer paying $120 receives $100 worth of action.

Shaun Deeb, who monitors these claims, has argued that players should split their expected edge with backers. Under his reasoning, if both sides agree a player has a 40% ROI in a tournament, the markup should be 1.2. That way, each party captures half of the expected value.

The problem is that most players overestimate their profitability. A player who sets a 1.3 markup may believe they have a 30% edge when their actual edge is closer to 10%. Backers who accept inflated markups erode their own returns before a single card is dealt.

Returns That Defy Conventional Investment Logic

Staking outcomes can produce gains that no traditional asset class would replicate. In 2020, Scott Longnecker paid $8.99 for a share of Magnus Martin's $55 SCOOP Mini Sunday Million entry. Martin won $71,656.66, and Longnecker received $11,712.61, a 130,285% return. Such results are rare, but they illustrate the asymmetric payoff structure that attracts capital to poker backing.

These cases also explain why making money at poker remains appealing to investors who lack the ability or time to compete themselves. Backers bet on player skill rather than their own, treating tournament entries the way venture capitalists treat early-stage companies.

Profit Splits and Standard Terms

The division of winnings follows established patterns. A 50/50 split is common. Stronger players with proven records often negotiate 60/40 or 70/30 in their favor. A player should rarely accept less than half unless the circumstances are unusual.

Consider a situation where a backer offers $10,000 for a player who typically competes in $100 tournaments. The size of the investment and the risk assumed by the backer may warrant a 70/30 split favoring the backer. These terms depend on the player's history, the size of the stake, and the nature of the event.

Platform Infrastructure in 2025

GGPoker has integrated staking directly into its software. The platform charges nothing for the service because higher-stakes play generates more rake. Players can sell up to 90% of their buy-in to backers while retaining a personal stake.

In 2024, GGPoker introduced policies requiring backers to be disclosed within the platform. Private deals are prohibited. These rules address concerns about undisclosed financial ties that could compromise tournament integrity.

PokerStake, led by six-time WSOP winner Josh Arieh, supports staking for live events across the WSOP, Aria, Seminole Hard Rock, and Harrah's circuits. GGPoker is reportedly considering making PokerStake its primary staking platform, which would consolidate the experience for users across live and online events.

Evaluating Players Before You Back Them

SharkScope tracks over 1 billion tournament results across major sites and remains the primary tool for assessing player histories. Backers use it to examine ROI, volume, consistency, and game selection.

There is a gap in the data. GGPoker stopped allowing SharkScope to extract tournament information in September 2023. Backers who want to evaluate players on that network must rely on self-reported results or the platform's internal staking panel.

Verification matters. A player claiming strong results without traceable data is a risk. Some staking platforms now require identity verification during registration and flag atypical transactions. By some estimates, 10% of online poker fraud in 2025 involved deepfake identity scams.

Fraud and Collusion Risks

The 2025 WSOP produced a high-profile integrity scandal. In the $1,500 Millionaire Maker, Jesse Yaginuma overcame a 9-1 chip deficit in heads-up play to defeat James Carroll. Allegations of chip dumping followed. The WSOP investigated and ultimately withheld the bracelet, though Yaginuma kept the cash prize. Both players were banned from future events. The alleged motive was a $1,000,000 bonus tied to the win.

Between them, the two players had over $9 million in live tournament cashes. The case shows that reputation and past results do not eliminate the possibility of collusion. Backers must account for integrity risk, especially in events with large side incentives.

Legal Status of Staking Agreements

The Nevada Supreme Court has ruled that staking agreements between professional gamblers and backers are enforceable contracts. Under the Howey test, staking likely qualifies as an investment contract because the backer contributes money with an expectation of profit derived from the player's efforts.

This legal clarity matters for portfolio management. Backers who formalize their agreements with contracts can pursue remedies if players fail to honor terms. Informal arrangements offer no such protection.

Seven states now offer regulated online gambling, with Pennsylvania expected to join a multi-state poker compact by April 2025. Industry projections, according to various reports, place the market value at $35.21 billion by 2029.

Portfolio Construction and Variance Management

Professional stakers distribute funds across dozens of players with different skill levels and game types. This approach reduces the impact of any single player's variance on overall profitability.

Tournament poker produces volatile short-term results. Even skilled players go months without a significant cash. A portfolio with 30 or 40 horses can absorb these swings better than one concentrated in a few players.

The best stakers reportedly generate returns comparable to hedge funds, though with higher risk. This comparison holds only for those who evaluate players accurately, negotiate fair terms, and monitor for fraud.

Online Tournaments Continue Expanding

WSOP Online bracelet events in 2025 averaged $3.6 million per tournament, the highest in the series' history. Of 33 bracelet events, 29 produced seven-figure prize pools. Six exceeded $5 million, and three crossed $10 million. Total online prize pools are projected to exceed $100 million by year's end.

These figures create more staking opportunities. Larger prize pools mean larger potential returns for backers who identify and fund the right players.

What a Profitable Portfolio Looks Like

A backer with $50,000 might allocate funds across 25 players at varying stakes. Some play $100 online tournaments with high volume. Others enter $10,000 live events a few times a year. The mix balances frequency of opportunity with size of potential return.

Each player is evaluated on ROI, sample size, markup pricing, and terms. The backer tracks results, adjusts allocations, and exits relationships that underperform. The work resembles asset management more than gambling.