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How to turn $60 into $40,000: Invest in a poker player and get lucky

The 25-year-old who won $8.15 million at the World Series of Poker (WSOP) last week got to the final table with support from his friends — both emotional and financial.

Four of WSOP champ Scott Blumstein’s college buddies chipped in $60 each toward his $10,000 entry fee and each got $40,750 of his winnings in return. One of them told ESPN he has “a normal nine to five job” and would use his earnings for a down payment on a house.

But you don’t have to be a pal of Blumstein’s to invest in him or other poker players. Known as “staking,” the practice of financially backing players for a cut of their winnings is a growing business.

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