The pluses and pitfalls of making poker deals with your friends
Why making poker deals can level out your luck.
Sharing risk and sharing rewards
Poker is a game of the long-term and the long-haul. You've no guarantee of cashing in any given tournament, regardless of your skill. Luck can beat you in the short term and it's the long term where you make your money.
Sharing equity with trusted friends in poker of similar ability is a good way to combat the short-term ups and downs of the game.
An example of good poker deals
If you have a group of friends of a similar ability, a good deal to make if you're all playing in the same tournament is to share 10% equity between you.
That means if anyone cashes in the event, 10% of that is put into a pot that is shared equally between all players.
If you're doing this across a whole poker trip with multiple games, it can really level out variance and luck.
Become a poker team
Having a shared equity stake, between your friends, like the one described above, really builds team spirit. Instead of competing and trying to one-up each other, you'll be supporting each other to win as you'll end up winning too.
This camaraderie is rare at the poker table and is very special.
And if you've been on the wrong side of some bad luck, your friends’ results can really protect your bankroll in the short-term.
How much equity?
A good equity share is about 10 per cent. You want it to be enough to make it worth everyone's while, but not enough for the winner to grudge the share.
10-15 per cent usually works well.
Be clear about the deal
Make sure everyone understands the deal so that there are no surprises when it comes to settling up.
Write the terms in your whatsapp chat and get everyone to agree. Or if it's all verbal, double-check they understand.
Don't let the deal impact your play
While having a shared equity deal can help improve your level of risk, remember it's not a team event.
If you're on one of your friend’s table, it shouldn't have any bearing on your play. Play as hard against them as anyone else. Doing anything else would be considered cheating at worst, and just bad strategy at best.
When an equity share doesn't make sense
If you are in a poker group where you are a far better player than your friends, a deal isn't going to work for you.
You'll get frustrated by their poor play and it'll feel like their lack of ability is costing you money.
In those instances, it doesn't make sense to make an equity deal, no matter the variance!
Another time you shouldn't set up a deal like this is if you have any doubts about their trustworthiness.
You don't want money to come between a friendship and if you think there's any chance they won't share their winnings, then don't sign up to the deal.
Aside from those reasons, having a shared equity can really help balance out variance as a team of you will be at the tables battling it to the winnings. Don't let it affect your play - but know that you have multiple horses battling it out on the felt.
Looking to find out more about luck in poker?
Our guide to luck and variance in poker is the perfect place to start.
Find out how luck impacts the game and what you can do to protect yourself from the swings of the game.