PGA FORUM

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  • ToeTagginTambo

    • 261

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      2018 DraftKings FGWC Finalist

    • 2018 DraftKings NFL KOTB Finalist

    Hey all, I won a ticket today to the $5,300 PGA Thunderdome coming up for the Open.
    I tried to get it converted to DK dollars, but no luck. They want to fill the tourney.

    The issue is that this is clearly outside my bankroll, so I am wanting to sell some of the action.
    I’d prefer someone who wants to take a larger portion and I’d consider less than face value for the right investor.
    I’m confident in my ability and have good results in PGA overall.
    I’d exchange all pertinent info and make the transaction as smooth as possible.

    Please DM if interested.

    Mods: please move if you think there is a better spot for this. I don’t post too often.

    Thanks all,
    Tyler

    Neither RotoGrinders.com nor its moderators take responsibility for transactions in this thread. RotoGrinders.com does not endorse this poster and all purchases are made at your own risk. RotoGrinders.com will also not facilitate any transactions. Be sure that you have a full understanding of any potential tax consequences.

  • mileyvirus

    Then why did you join the qualifier if you weren’t going to use it. On the other hand, you have such a good opportunity to make some serious cash. I understand that it’s outside of your bankroll, but now you have the opportunity to give yourself a bigger bankroll. Either way, congratulations on the ticket. I’m sure i would be in the same boat as you. It could be a great opportunity for you, but you are swimming among the sharks.

    Hopefully all turns out well for you! GL

  • ToeTagginTambo

    • 261

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      2018 DraftKings FGWC Finalist

    • 2018 DraftKings NFL KOTB Finalist

    Hey Miley, I joined because I expected to be able to un-register and get DK dollars and then I would’ve played some more $333 and maybe a single $1k or something, but DK wants to fill the tournament obviously and won’t do that this time. They told me that. So now I’m thinking I’d rather have 20-30% of the action and would even sell below face value to interest others in getting in.

    Thanks

  • xdan3220

    @ToeTagginTambo said...

    Hey Miley, I joined because I expected to be able to un-register and get DK dollars and then I would’ve played some more $333 and maybe a single $1k or something, but DK wants to fill the tournament obviously and won’t do that this time. They told me that. So now I’m thinking I’d rather have 20-30% of the action and would even sell below face value to interest others in getting in.

    Thanks

    ToeTaggin I see that you have had some pretty impressive results on some PGA events just a few questions:

    1) Your 83rd finish on the June 16th I see lots of mutli entry for tha tourny, are your teams primarily all different or do you pick a few core guys and go different around them?
    2) How much time do you expect to spend researching and what does that generally entail for you?
    3) How would you handle the $ transfer assuming you cashed?

  • ToeTagginTambo

    • 261

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    • Ranked #45

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    • x3

      2018 DraftKings FGWC Finalist

    • 2018 DraftKings NFL KOTB Finalist

    Hey!

    To help answer your questions;

    1) Always a core group of guys for 75-80% of my multi entry and then some random flier lineups to take higher risk, and differentiate a bit from the core

    2) I research 10-12 hours for PGA each week between every podcast, spreadsheet and article there is. Then I set my core. Then I break down to find my most optimal lineup and branch from there. I am open to suggestions this week for this particular tournament.

    3) Transfer of cash would be asap over PayPal as I believe it will be the easiest method. You would be in full contact with me, have my FB, my Skype, phone numbers and emails etc. This is just to make it less risk for me. You will have all access to me and get everything asap once the event ends and payouts are done with updates anytime needed.

    Hope that helps.

    Thanks,
    Tyler

  • xdan3220

    @ToeTagginTambo said...

    Hey!

    To help answer your questions;

    1) Always a core group of guys for 75-80% of my multi entry and then some random flier lineups to take higher risk, and differentiate a bit from the core

    2) I research 10-12 hours for PGA each week between every podcast, spreadsheet and article there is. Then I set my core. Then I break down to find my most optimal lineup and branch from there. I am open to suggestions this week for this particular tournament.

    3) Transfer of cash would be asap over PayPal as I believe it will be the easiest method. You would be in full contact with me, have my FB, my Skype, phone numbers and emails etc. This is just to make it less risk for me. You will have all access to me and get everything asap once the event ends and payouts are done with updates anytime needed.

    Hope that helps.

    Thanks,
    Tyler

    Thanks PM sent

  • ToeTagginTambo

    • 261

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    • x3

      2018 DraftKings FGWC Finalist

    • 2018 DraftKings NFL KOTB Finalist

    40% has been accounted for so far. Still selling 30% more. Thanks to everyone for the interest.

    Tyler

  • ToeTagginTambo

    • 261

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    • Ranked #45

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    • x3

      2018 DraftKings FGWC Finalist

    • 2018 DraftKings NFL KOTB Finalist

    Currently sold out. Anyone who already heard back from me today and confirmed in are who I’m holding for. Rest are wait list. PM for wait list.

    Thanks to all.

    Tyler

  • thedude404

    • 2015 FanDuel NBA Playboy Mansion Finalist

    selling action is usually a -ev move in dfs. i could drop names but i wont. you didnt pay full value for the thunderdome seat you got it off a qualifer am i correct? you’re pretty much free rolling it. or that is you were until you sold off 70% of your action. over the long term, you’re going to regret selling your action.. if you need the cash so bad take a loan….. please explain to me how this is a positive move? this seems like a definite negative move………not to mention the fact you are running pretty hot since the beginning of 2016. also as a sidenote while there are a few high rollers that are good at golf dfs, there are more that flat out suck. another reason not to sell it…..

  • donkshow

    I agree with thedude, I would never sell action.

  • ToeTagginTambo

    • 261

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    • x3

      2018 DraftKings FGWC Finalist

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    All part of a sound bankroll management plan. It’s golf. It’s dfs. And it’s the Thunderdome where there have been multiple 2-time winners this year.
    Everyone in there is pretty good, and with super soft pricing and Scottish weather there is even more variance to this week than normal.
    I now turned my $33 ticket into a profit, and still retain 30% of any cash. I sold at .94 of face value to help with the sale and now have some friends and investors to join in the fun.
    That’s $3500 in sold action, and now if I min cash for 10k, I get another $3000. Still up $6,500 vs. $10,000 on a min cash.
    And if I win I still get over 40k total including the original investments. It’s not 125k, but I I’m sure you wouldn’t complain about a 40k boost to your bankroll right now. All about staying in the game.

    Thanks,

    Tyler

  • sethayates

    @ToeTagginTambo said...

    All part of a sound bankroll management plan. It’s golf. It’s dfs. And it’s the Thunderdome where there have been multiple 2-time winners this year.
    Everyone in there is pretty good, and with super soft pricing and Scottish weather there is even more variance to this week than normal.
    I now turned my $33 ticket into a profit, and still retain 30% of any cash. I sold at .94 of face value to help with the sale and now have some friends and investors to join in the fun.
    That’s $3500 in sold action, and now if I min cash for 10k, I get another $3000. Still up $6,500 vs. $10,000 on a min cash.
    And if I win I still get over 40k total including the original investments. It’s not 125k, but I I’m sure you wouldn’t complain about a 40k boost to your bankroll right now. All about staying in the game.

    Thanks,

    Tyler

    Selling might be an -EV move but for your situation it is probably the right thing to do. I would think of this ticket like a stock. Say that you bought into Apple at $10 per share and it goes over $100. Some analysts might say that you should hold onto your stock until it gets to $150. If you sell your shares now you are possibly missing out on $50 profit per share. I would tend to look at it the other way. Until you have cash in hand, all you have is equity. If you know that one outcome in the Thunderdome is $0 return it makes sense to get back something if the $5300 in lost equity would be a significant blow to your bankroll.

    P.S. A more relevant example than Apple would be Nintendo. After the release of Pokémon Go more than $7 Billion has been added to Nintendo’s Market value. If you are holding Nintendo stock you just made a lot of money but you haven’t actually made anything until you cash out your equity.

  • ToeTagginTambo

    • 261

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      2018 DraftKings FGWC Finalist

    • 2018 DraftKings NFL KOTB Finalist

    @sethayates said...

    Selling might be an -EV move but for your situation it is probably the right thing to do. I would think of this ticket like a stock. Say that you bought into Apple at $10 per share and it goes over $100. Some analysts might say that you should hold onto your stock until it gets to $150. If you sell your shares now you are possibly missing out on $50 profit per share. I would tend to look at it the other way. Until you have cash in hand, all you have is equity. If you know that one outcome in the Thunderdome is $0 return it makes sense to get back something if the $5300 in lost equity would be a significant blow to your bankroll.

    P.S. A more relevant example than Apple would be Nintendo. After the release of Pokémon Go more than $7 Billion has been added to Nintendo’s Market value. If you are holding Nintendo stock you just made a lot of money but you haven’t actually made anything until you cash out your equity.

    Nailed it! That’s exactly how I look at it. Thanks for the help explaining it better!

  • theseige

    • 2015 DraftKings FFWC Finalist

    • x2

      2016 DraftKings FBBWC Finalist

    @donkshow said...

    I agree with thedude, I would never sell action.

    Since this thread is over as Toe has sold his action I hope he doesn’t mind the slight hijack.

    Selling action is the one place where DFS is way behind poker (some of it is due to entry limits but I digress)

    There is no way anyone should be parlaying a small BI into 100% of the $5300 ticket, locking up a profit and boost to your BR is most important key to long-term BR management… If it was a $300 ticket that’s different but any time the BI represents a real part of your BR you should sell off some of your upside in the name of BR growth

  • PigskinaBlanket

    • 435

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    • x3

      2019 DraftKings FGWC Finalist

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      2016 DraftKings FGWC Finalist

    Agree with Seige. Suprised we dont see more of a market in here for these type of transactions. I would even think that the lower rakes at higher buyins makes some of the action more attractive.

  • TeamTwerk

    How would that work with taxes? Toetaggin would get 1099 for all the winnings ?

  • emac

    @TeamTwerk said...

    How would that work with taxes? Toetaggin would get 1099 for all the winnings ?

    He would then be responsible for issuing 1099s to his backers, then he can take that away from the winnings on his tax return and only end up paying for his portion if it is prepared correctly.

  • jr1886

    • 2017 FanDuel WFBBC Finalist

    Selling action, like the one here, can be considered a sale of securities. There are various laws, state and especially federal, that regulate issuers (here, ToeTaggin) of securities and they carry significant penalties. I don’t expect the government to come after you for doing this, but I would advise anyone who considers doing this on a large scale basis to consult a securities law attorney.

  • fediganattheshore

    um not even close.

  • jr1886

    • 2017 FanDuel WFBBC Finalist

    @fediganattheshore said...

    um not even close.

    What?

  • fediganattheshore

    I’m not going to type up a formal definition of what a security is, but if you were correct then the entirety of the poker tournament community would be in jail for selling securities because this happens all the time in the poker world…

  • MrFantasy

    @jr1886 said...

    Selling action, like the one here, can be considered a sale of securities. There are various laws, state and especially federal, that regulate issuers (here, ToeTaggin) of securities and they carry significant penalties. I don’t expect the government to come after you for doing this, but I would advise anyone who considers doing this on a large scale basis to consult a securities law attorney.

    You are way off base here my friend.

  • jr1886

    • 2017 FanDuel WFBBC Finalist

    @fediganattheshore said...

    I’m not going to type up a formal definition of what a security is, but if you were correct then the entirety of the poker tournament community would be in jail for selling securities because this happens all the time in the poker world…

    A not insignificant portion of the American population engage in illegal gambling every year, yet most of them are not prosecuted. That fact, however, doesn’t change the fact that they engage in illegal gambling. This is precisely why I said I don’t think JoeTaggin will be prosecuted, but if you do this large scale, all you need is one salty customer, and you may be in trouble.

    It can be considered a sale of securities. I know because I’m a corporate lawyer. Here is a primer:
    http://m.huffpost.com/us/entry/3732356

  • jr1886

    • 2017 FanDuel WFBBC Finalist

    Quoting “a security is an investment whose return to the investor is substantially dependent on the efforts of a third-party.” That’s basically it.

  • theseige

    • 2015 DraftKings FFWC Finalist

    • x2

      2016 DraftKings FBBWC Finalist

    I’d love to see a Court take Securities this far… that would finally get Congress involved to change the damn thing

  • PigskinaBlanket

    • 435

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      2019 DraftKings FGWC Finalist

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      2016 DraftKings FGWC Finalist

    Well, that escalated quickly

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