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Disclamer: I'm not advocating that anyone actually do this. I just want evaluations. In fact, I'm blatantly telling you this is a crazy idea and that you'd have to be a moron if you try some crazy stunt someone posts on the internet. I take no responsibility for your lack of judgement.
Have you ever heard of an HYIP or a Ponzi Scheme? Basically you give someone $5 or more for 5 days or more. They take that money and do something highly 'profitable' with it, usually in overseas currency. Then they pay you somethign outrageous like 5% a day on your money. At the end of your term you get the money plus the interest back. However, it usually doesn't work that way. They usually pay you the 5% for a little while, and then take your money and run.
Here's my idea: the responsible poker HYIP. You buy a three month $200 CD. Then you get 40 people to give you $5 for a minimum of three months. You take that $200 and play online poker with it for three months. If after 3 months you come out ahead on the poker table, you take 50% of everything over $200 and split the other half of your winnings plus the original $200 among your 40 investors or if after 3 months you are behind (or if this option is more desirable), you split the CD among your 40 investors. Do you think this is practical or ethical?
If you are a good poker player the chances of very high returns are likely. For example, if you make $100 in 3 months, you've made (50/40) $1.25 for each of your 40 investors or a ($1.25/$5) 25% profit. If you only make $50, you're giving your investors a 12.5% profit on their $5. The results don't equal that of a CD until you make less than $16, assuming you can get a 3 month CD at 4%. If the best you can do is 3%, things don't sour until you make less than $12.
What would be the benefits to you? Free poker, 50% of any winnings you generate if you make more than $12-16. The costs: if you over estimate your poker skills, you absorb the cost, you are the one who has to pay taxes on the cd, you have to keep it small scale to keep it responsible because there's no way you can fork out thousands to buy the initial CD. Because it is gambling, you'd have to keep it at a level where you can only promise your investors growth, not the ability to make them rich or poor.
Have you ever heard of an HYIP or a Ponzi Scheme? Basically you give someone $5 or more for 5 days or more. They take that money and do something highly 'profitable' with it, usually in overseas currency. Then they pay you somethign outrageous like 5% a day on your money. At the end of your term you get the money plus the interest back. However, it usually doesn't work that way. They usually pay you the 5% for a little while, and then take your money and run.
Here's my idea: the responsible poker HYIP. You buy a three month $200 CD. Then you get 40 people to give you $5 for a minimum of three months. You take that $200 and play online poker with it for three months. If after 3 months you come out ahead on the poker table, you take 50% of everything over $200 and split the other half of your winnings plus the original $200 among your 40 investors or if after 3 months you are behind (or if this option is more desirable), you split the CD among your 40 investors. Do you think this is practical or ethical?
If you are a good poker player the chances of very high returns are likely. For example, if you make $100 in 3 months, you've made (50/40) $1.25 for each of your 40 investors or a ($1.25/$5) 25% profit. If you only make $50, you're giving your investors a 12.5% profit on their $5. The results don't equal that of a CD until you make less than $16, assuming you can get a 3 month CD at 4%. If the best you can do is 3%, things don't sour until you make less than $12.
What would be the benefits to you? Free poker, 50% of any winnings you generate if you make more than $12-16. The costs: if you over estimate your poker skills, you absorb the cost, you are the one who has to pay taxes on the cd, you have to keep it small scale to keep it responsible because there's no way you can fork out thousands to buy the initial CD. Because it is gambling, you'd have to keep it at a level where you can only promise your investors growth, not the ability to make them rich or poor.
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