Sample WSOP* Backing Agreement

This document is offered to give you some ideas of things to include in a backing agreement for a poker tournament such as the WSOP. It is not intended to be used without first consulting an attorney in your venue. No warranties or representations whatsoever are made with regard to this document. Use it at your own risk.

Sponsorship Agreement

This agreement is entered into as of July __, ____, by and amongst the undersigned (“Sponsors”), for the backing of Wanna B. Rich (“Player”) to play in the ____ World Series of Poker final event $10,000 buy-in no-limit Holdem tournament in Las Vegas, which begins on July __, ____, (hereinafter the “WSOP Final Event”).

Player is selling up 20 shares in his potential winnings from this tournament at $500 per share. Each share purchased by a Sponsor entitles that Sponsor to 4% of the gross tournament winnings, if any, paid to Player from playing the WSOP Final Event (Player may deduct travel, lodging and meals related to the WSOP Final Event from his winnings from this tournament not to exceed $1,500). If Player does not play in the WSOP Final Event, regardless of the reason, Player shall immediately return all money paid by Sponsors.

Sponsors shall bear all taxes on their respective share of any gross winnings and must provide accurate social security numbers, addresses and identification to Player prior to Player paying them anything. Player shall file and issue any and all appropriate income tax reporting forms to Sponsors, including form 1099, for each Sponsor’s portion of any gross tournament winnings. Sponsor shall do everything reasonably required to comply with all Law and tax withholding. Player may withhold from any payment to any Sponsor any reasonable amounts to assure that all taxes are paid. Each party hereto is solely responsible for any and all consequences of this agreement; including all taxes; no advice thereto is given whatsoever.

All parties hereto understand that the WSOP Final Event is a “long shot” highly speculative event. No warranties or representations of any kind whatsoever are made.

This agreement shall be governed and construed under the laws of State of Nevada regardless as to where it is entered into.

By signing below I agree to all of the above:

SIGNATURE | PRINT NAME | AMOUNT PAID | # OF SHARES

________________________

Wanna B. Rich (Player)

* World Series of Poker and WSOP are trademarks of Harrah’s License Company, LLC (“Harrah’s”). Harrah’s does not sponsor or endorse, and is not associated or affiliated with, Club Wager Enterprises, Ltd. or its products, services, promotions or tournaments.