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Informal, One-Time Team
This is a somewhat straightforward approach where a group of players go in on a "save". For example, a tournament costs $1000 to enter. That entire $1000 goes into the prize pool, which is typically the case with Blackjack tournaments. You and 4 pother players agree to do a "save" of $300. That means you are all agreeing that should any of you who wins a cash prize will pay the others $300. If two of your group gets a prize, you split what's owed to the others. If none of you qualify, everyone is out $1000 and nothing is owed to anyone by anybody. However, there might be problems if only one of your group wins, say $1000, and finds himself owing the others $900, so it's probably wise to agree to a "minimum amount won" clause or agree to proportional pay outs should the prize(s) be below a certain dollar amount. If properly, this is a good way to lower the overall cost of entering a tournament. It is highly recommended that you only work with people you know and trust.
Team-Financed Approach
This method is more formal, but it involves only the team members. Players who are comfortable with one another regards to honesty and skills, and are frequent participants in a particular tournament, agree that 20% of any prizes won will be "skimmed" off the top and divided amongst the other players. If the players each put up $1000 for the entry fee and one of the group wins it, 20% of that player's prize will go to the other team members in a proportional split. If more than one player wins something, all of the prize money will be pooled together and then distributed to those team members that didn't win. While this might seem to benefit those who didn't win anything and penalize those who did, over several tournaments it should balance out. This lowers the financial risk of all the participants, while still offering plenty of incentive for everyone to play their best. In "winner takes all" tournaments, this kind of back-up deal allows team members to be very aggressive, which is what it takes to do well in those types of tournaments.
Formalized Team Management
Many professional view this as the ideal approach to Blackjack tournaments, which treats it as a business. Ideally a formal team would involve at least 10 players, the soliciting of investments from non-players, and regularly scheduled practice sessions. The team would maintain a team bankroll that would come from both the players and outside investors, which would pay the entry fees for the team and compensate everyone as much as possible by holding all funds until the initial bankroll is doubled. The investors and any players who also invested would get 50% of the bank returned to them in proportion to their original investment; 35% of the bank would go to the players who actually ended in the money at tournaments (in proportion to their winnings) and 15% would go to the players who participated in each tournament, in proportion to the number of tournaments they played in. |
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