Looking for a partner/investor for my website

[eagleshot]

Looking for an investor for my website

I have developed a website designed to help poker players find people to stake them in online tournaments. It’s one of only 4 sites that offer this feature. As you may or may not know, poker is extremely popular. Big sites such as Poker Stars and Full Tilt poker have upwards of 350,000 people playing at one time. It’s easily a multi billion dollar industry

At this time I have several projects that I’m working on. I’m doing this while trying to raise 2 kids, and hold a full time job. I original got into this project planning to spend $10K. With the economy the way it is, and work being real slow. I have fell on hard times. I know that this website will generate a significant amount of revenue. I just need to market it correctly.

I’m desperately in search of someone with experience in business and have a vested interest in poker. I’ve already invested over 5k in this project. I’m also in the process of making drastic changes to make the site fully operational. I have been talking to a coder to create a unique database that will allow our poker players to create the tournament that they would like to be sponsored in. This would let sponsors view the poker players past online poker stats, and let them chose the right poker player to stake.

If you are not familiar with online poker staking, this is how it woks…

A poker player will ask a sponsor to back them in a tournament. They will choose what percentage of earnings they would like to split. In most cases it’s somewhere around fifty percent. Let’s say the buy in amount is $100. The sponsor will send the poker player the funds to play. Let’s say that the player makes $5000 in the tournament. The sponsor would receive $2600 and the player would get $2400. He would receive fifty percent of the earnings, and also get his original buy in amount back.

Some people ask why we should invest in a poker pro. Well, that’s easy! Poker is a skill game. There are thousands of people in this world that play poker for a living. It’s the same as giving a stock broker money. They know what they are doing (in most cases anyway) Staking players in poker has been around for years. In some cases, poker sponsors don’t ever play for them selves. They rely on proven players to earn them money.

If there is anyone that has interest in becoming partners with me, please respond to this. I’m very interested in hearing from potential partners/investors. This is a small investment, with a huge potential income.

[David Gorsuch]

You have a very interesting idea, it sounds promising. However, there are a few unanswered questions:

How much capital are you seeking? Is it the amount you intended to spend but did not? (10k - 5k = 5k short)

Are you looking for more of a partner than an investor? It seems your time is limited with a full time job and children.

Are you unable to secure a signature loan from a bank or credit union? If you're needing only 5k in additional capital, that would be easy to get. Even at a 11% rate, the monthly payment would be manageable. A secured loan would have an even better rate. You may want to consider peer-to-peer lending for amounts under 15k, some rates are as low as 7%.

How is your credit?

What is your debt-to-income ratio?

What is the pro forma annual gross? Net?

Is there a business plan?

Is the website up or running in any form for viewing?

If you're seeking a loan, what are your terms?

If you're seeking a partnership, what is the cash flow split?

In essence, it is paramount I am assured my money will not disappear. A strong plan of action, good financial stability, and experience are keys to success. If your success is assured, then mine is also.

[DrMoney]

I Like the idea, except GOOD Poker players, would have a concept of money, and Gambling for that matter.

They would know what a Bankroll was, and would probably have their own money?

What about that?