RE (4): Horsing Around… With Kenna & Newhizzle

by , Jun 24, 2008 | 11:53 am

In an effort to talk to more pros about playing in tomorrow’s $50K H.O.R.S.E. event, I ran into two players who are weighing their options and making decisions today about what to do.

Kenna James admitted that he does not have the money for the buy-in, though as Dan has previously noted, how many people really do? Kenna noted that a backer had contacted him about the possibility of working a deal, and he is considering that, as well as trying to win his way in through a mega satellite, the last of which is this evening at 5pm. With the announcement of the two additional satellite opportunities over the past few days, this gives him more outs. Personally, I didn’t get the feeling that he was super determined to play the H.O.R.S.E. event, but that remains to be seen.

Mark Newhouse is feeling good this year. With the disagreement with Dustin “Neverwin” Woolf out of the way and a backer firmly in place, he can be found walking around the Rio all the time, even standing around watching other tournaments on his own tournament breaks. He seems more determined than ever to make waves. For this reason, the $50K H.O.R.S.E. has definitely been on his mind.

While Newhizzle has a backing deal for the entire WSOP, he chose to exclude the H.O.R.S.E. event from that deal because “I don’t want that kind of makeup.” He also noted that despite his self-confidence, he doesn’t feel like a huge favorite in this particular event and wouldn’t want to take a chance on it by buying in directly with a backer’s money. He played two mega satellites last week and was not able to score a seat, but when I told him that there were mega opportunities still available, he immediately called his backer to discuss that option. If he wins a seat, he will play.

3 Comments to “RE (4): Horsing Around… With Kenna & Newhizzle”

  1. son of sue

    I’m kinda new to the whole poker thing, so excuse my ignorance. What is the difference between someone “backing” you and someone buying a piece of you? And why would you have to pay back someone who backs you but not someone who buys a piece of you?

    Thank you for your kind support.

  2. California Jen

    My understanding is:

    1. You can sell a piece of yourself for one event, and a person can buy that piece for a set percentage of your possible profit. It’s a one-time thing, and there is no makeup, such as having to pay people back if you don’t cash.

    2. A backing deal typically involves a span of time or events in which the backer puts you in tournaments – pays the buy-ins and fees – but has a certain percentage of your winnings. Some backing deals now include makeup, which means you owe those buy-ins back (or a percentage of them) whether you cash or not. In those cases, you better cash big eventually or you’re in serious debt.

  3. Dallas Texas

    Regarding California Jen’s description of makeup – “whether you cash or not” is not generally not true of makeup.

    Makeup is just a running tab of the amount your backer is spending on you. When you finally make a big tournament score, the backer first gets to recoup those expenses, then you split up the remaining prize money.

    Generally speaking, you don’t have to pay it back out of your own pocket; you only pay it back out of tournament winnings, if you ever win. Once the deal comes to an end, any remaining makeup is simply a loss for the backer.