Makeup in Poker
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Oh! No, no not the lipstick or mascara type, here we are talking about the term makeup as used in the poker world. Virtually speaking, almost every staking contract in poker contains a makeup poker clause especially the tournament staking contracts. But, what does makeup in poker mean? In this post, we have explained the meaning of the term makeup poker along with some detailed examples.
The concept of makeup in poker is actually intimately related to staking in poker. In any game of poker, an investor (backer) generally puts up money on behalf of a poker player (horse) in exchange for a 50% share in profits. Now, here the backer assumes all the risk in return for a share in profits of the player. However, sometimes it so happens that a player instead of earning profits ends up losing a huge chunk of money.
This is where makeup poker comes into the picture. The term makeup poker basically refers to the amount of money that a “horse” or the player owes to his backer. In other words, the makeup poker is the amount of money that a player must earn to recoup his backer’s original investment before he can start to split profits again.
To put it more accurately, a standard poker contract generally includes a clause outlined as “50/50 with makeup”. According to this deal, the backer and the player will split 50% of the player’s tournament profits but only after previous losses incurred by the backer have been repaid by the player. Here, the amount of money that needs to be recovered is generally regarded as makeup.
To explain the concept of makeup poker more thoroughly, in this section we have detailed two key examples related to makeup in poker.
Let’s assume in a standard poker tournament, you are the backer and you have backed a poker player with $1000 on a 50/50 deal. The player loses the first $300 of buy-ins in the early stages of the tournament. Thereafter, in the next game, the player proceeds to win $100. Here, the player and the backer will not split $50 each, instead the entire amount of $100 will be paid to the backer because in the early stages you first lost $300. So, even after paying a sum total of $100 the player will still be considered down by $200.
Building on the same example, let’s assume the player incurred a loss of $300 in the tournament but thereafter proceeded to win $600 in the upcoming stages. Here, $300 will be first paid to the backer against the losses so incurred and thereafter the rest of the $300 will be split equally between the backer and the player.
This is done because the backing contract would make little sense if the person backing a player was unable to earn his loses before any further profits were split.
Here, it is imperative for you to remember that three situations generally arise in an event a player is unable to pay back the losses to his backer.
1) The backer might terminate the makeup poker contract in which case the player will not be expected to pay any amount of the makeup poker.
2) If the player decides to terminate the makeup contract, then the player will have to pay the entire amount of the makeup poker to the backer or at the least negotiate a deal.
3) In an event where the player decides to leave the poker world altogether, then as an unsaid rule he will not have to pay any money to the backer. Vital to this, the backer will have to accept the situation as a bad loss.
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