Amir Lehavot, who is second in chips heading into the 2013 World Series of Poker Main Event final table, tweeted on Monday that he is selling 30% of his action in the event. In the tweet, the November Niner linked to a thread he started in the marketplace on TwoPlusTwo, where he provides more details.
"I've generally been selling pieces for most live tourneys I play that are $5,000 or above in buy-in," Lehavot told PokerNews on Monday. "Selling pieces is something I'm very familiar with; I thought I would likely sell some pieces once we reached the final table."
Lehavot says that he currently has 80% of himself in the Main Event — his parents have 10% and a "longtime friend and investor" has the other 10%.
The 2011 WSOP bracelet winner is selling his Main Event shares at Independent Chip Model (ICM) value. Using ICM, you can calculate the dollar value of each players' stack, and after subtracting the ninth-place money that all of the players have received already, Lehavot's stack is worth $2,924,800.
These are the values of the other stacks if you subtract ninth-place money:
In order for his investors to profit, Lehavot will have to finish third or better.
"I think my accomplishments speak for themselves," Lehavot said when asked if this was a good deal for potential investors. "I'm an experienced accomplished MTT player and believe I have an edge over the table."
In his marketplace thread, Lehavot compares this investment to buying pieces before a tournament begins.
"I understand that investor ROI is quite limited here, i.e. the best case scenario is a 2.6x return. The downside is also significantly lower than when typically buying action, 84% of the time investors are going to get at least 30% back, etc.
Basically because it’s the FT already the variance I’m transferring to investors per $1 is much smaller than when buying action at the beginning of a tourney.
When asked about the importance of the title "Main Event champion," Lehavot told PokerNews, "It would be great obviously, but I'm really not focused at all in thinking about what if situations like this. In my experience that is not constructive or useful, I rather focus on preparing for the final table and then just playing one hand at a time."