Meet the big poker winners who never play a hand
Top poker players can make huge money in tournaments. But often, a large portion of their takings go elsewhere – to backers who pay their entry fees in return for some of the winnings.
If you’re looking for a new way to grow your money, the smoky poker rooms of Las Vegas may not instantly come to mind. But the card game, which has evolved into a global multimillion-dollar sport, is attracting a new breed of investors.
The practice of staking – or backing – poker players by contributing to their tournament entry fees, in return for a slice of their winnings, is a novel way to make money. It could also be a quick route to losing your spare cash.
Traditionally, staking has been a back-room practice involving one-on-one deals between investors and players.
Now, online brokers make it easier for would-be backers to study the form of players before deciding which ones to support. It's a risky investment because backers only see a return on their money when their chosen player is successful in what is a hugely competitive sport.
There’s a fine line between staking and gambling. The practice can be compared to betting on horse races or investing in the stock market, where decisions are made based on the performance of a company or a horse and its rider.
Take a look at the video above to see how it’s done.
Video produced by Peter Bowes and Jack Stewart.
This story was produced under the BBC's guidelines for financial journalism. A full version of those guidelines can be found at bbc.co.uk/guidelines.