How poker staking works

If you are new to staking, the jargon can sound more complicated than it is. Here is the whole thing in plain language.

The basic idea

A staker pays part of a player's tournament buy-in. In return, the staker gets that same percentage of whatever the player cashes. If the player wins big, the staker shares in the win. If the player busts, the staker loses their stake. The player gets funded and shares the risk; the staker gets exposure to a skilled player without playing themselves.

How your cost is calculated

The formula is straightforward:

Cost = (buy-in × markup) × your percentage

Say a player sells 10% of a €1,000 tournament at 1.1× markup. Your cost is €1,000 × 1.1 × 10% = €110.

What is markup?

Markup is a small premium on the buy-in that compensates a player for their skill and track record. A 1.1× markup means you pay 10% above the raw buy-in cost. A 1.0× markup means no premium at all — you pay exactly the buy-in share. Stronger players command higher markup because, over time, their edge is worth paying for. On the marketplace you can filter specifically for no-markup listings if you prefer.

How returns work

When the player cashes, you receive cashout × your percentage. If the player cashes €8,000 and you own 10%, you get €800. That is separate from the €110 you paid upfront, which happened before the tournament. Your net on the deal is €800 − €110 = up €690.

If the player does not cash at all, your return is zero and your net is simply the cost you paid — that is the risk you took.

Series and refunds

A series listing bundles several tournaments into one deal. Your cost is the sum of each buy-in, times markup, times your percentage.

The nice part: if the player skips a tournament in the series, you are refunded your full cost for that specific event. Say you bought 5% of a three-event series at 1.1× markup and the player skips the €2,000 event — you get back 5% × 1.1 × €2,000 = €110, and you only share in the events actually played.

A full worked example

A player lists a three-event series: €1,000, €2,500, €5,000. Markup 1.15×. You buy 8%.

• Your gross cost: 8% × 1.15 × €8,500 = €782
• The player skips the €2,500 event → refund of 8% × 1.15 × €2,500 = €230
• Your net cost: €552
• Event one: busts (€0)
• Event three: cashes €40,000 → your return is 8% × €40,000 = €3,200
• Net profit: €3,200 − €552 = €2,648

That is the entire model. Everything on Pebel — the listings, the calculator, the settlements — is just this math, done for you and kept in the open.