Big overlay Horse 50k backing

[helpdesknow]

Hi.

Don't want to spam but wanted to let people know we're running a *lot* of auctions for the 50k HORSE event.
Auctions - Poker Staking - ChipMeUp

I'm not sure how long it will last but there has been *massive* overlay for the last 30-40 auctions based on par value.

The last four auctions for 0.1% went for:
Doyle Brunson $0.33
Daniel Negreanu $0.47
TonyG $0.48
Patrik Antonius $0.86

Have had %'s on lisandro go really cheap too..

[JacksonTens]

0.1% of $50,000 is $50.

So who is making up the remaining $49? I am surely missing something...

JT

[Al]

Originally Posted by JacksonTens

0.1% of $50,000 is $50.

So who is making up the remaining $49? I am surely missing something...

JT

You pay to bid. .75c per bid, so they hope to get enough bids to cover the shortfall. The whole thing is a little suspect really.

[Duff85]

Originally Posted by Al

You pay to bid. .75c per bid, so they hope to get enough bids to cover the shortfall. The whole thing is a little suspect really.

Also you might be buying .0001 or whatever but not actually backing the player. I believe they had a similar promo with buying a share of Ivey and I don't believe he lists events on ChipMeUp.

[helpdesknow]

Hi

Yes some of the auctions the players you are bidding on have not listed events (others have like Lisandro, Tony G, Crocky etc).

I think it has been pointed out above, par value of 0.1% of the $50k is $50 a share.

You do have to pay per bid (thats how we make money) but at the moment many auctions are selling for a fraction of the $50, even if you add up all bid costs (and especially taking into account there are often 2nd and 3rd place prizes).

Cheers