Before 1948 world championship matches were financed by arrangements similar to those Emanuel Lasker described for his 1894 match with Wilhelm Steinitz: either the challenger or both players, with the assistance of financial backers, would contribute to a purse; about half would be distributed to the winner's backers, and the winner would receive the larger share of the remainder (the loser's backers got nothing). The players had to meet their own travel, accommodation, food and other expenses out of their shares of the purse. This system evolved out of the wagering of small stakes on club games in the early 19th century.