Shaun Deeb 100k to 1M 17% body fat bet with Bill Perkins
This is going to be tough!!!!!!!!!
Maybe Perk thought giving Deeb the win was best for Deeb's long term health EV. If Deeb went all the way to the end and came up 1% short the sense of failure might cause him to rebound eat his way into an early grave.
Just speculating. Perk doesn't think like your typical poker player.
This would make no sense. Whether he wins the bet, loses the bet, or accepts a buyout, he's equally likely to backslide IMO.
I think 80% is way too high for being this far in and he has the hardest 5% to lose. Maybe 500k at this point.
maybe he just wanted to reward him for doing it. really makes no sense from an actual betting standpoint to buy out for 80 percent at this point.
Yeah. And shaun deeb had to "discuss it with his wife" . Like wtf dude stop your slow rolling ****... this is a snap accept. A billionaire have your unmotivated ass a free $800k and your life back. The kids will thank uncle Bill for many years.
Glad to see him get healthy but the smart money says in 5 years he puts it all back on.
Im wondering if Doug Polk got a similar buyout with his bet? Seeing how well Doug do, and still lose, I really thought Deeb's bet would end up being a coin flip if he got there or not. Similar to what happened with Doug.
Either way, happy for Deeb! I dont understand everybody who's immediate thought is "He will gain it all and more within a few years". Just seems unnecessarily negative...
Good stuff. Perkins did a good thing for his friend, but Deeb had to put in a bunch of work to do this.
Perkins is the worst prop bettor of all time. Giving an 80% buyout when the hardest part BY FAR is still ahead is just lol.
Perkins is the worst prop bettor of all time. Giving an 80% buyout when the hardest part BY FAR is still ahead is just lol.
You think maybe Perkins achieved exactly wjlhat he wanted? This was never about winning the bet for Perkins. I believe he literally wanted to see Deeb get healthier. That was achieved and for him the cost was minimal
You think maybe Perkins achieved exactly wjlhat he wanted? This was never about winning the bet for Perkins. I believe he literally wanted to see Deeb get healthier. That was achieved and for him the cost was minimal
This is probably at least partly true but this is still a gambling forum and settling for 80% at this point is a terrible deal for Perkins.
Plus it would have been fun to sweat these last few months to see if he could actually do it.
I know Perkins is loaded but what on gods green earth… was this just like a not so secret Santa move?
Deebs weight loss makes his head seem even bigger. That noggin has its own weather system. I'm not kidding, that guy's head is like Sputnik; spherical but quite pointy at parts!
You think maybe Perkins achieved exactly wjlhat he wanted? This was never about winning the bet for Perkins. I believe he literally wanted to see Deeb get healthier. That was achieved and for him the cost was minimal
800k is not minimal. Must be cool to be a fat slob and get someone to pay you 800k to lose weight though. He will be a whale by the end of the year. Always happens.
I'll preface this by saying that I didn't have any action on this bet.
Letting Deeb buyout for $800K when that is no where near his actual equity is letting him off the hook big time and screwing over people who side bet this in a major way, perhaps for a larger amount than the differential between Shaun's EV and his buyout price.
At the point of buyout Shaun's "full bet" would be his $900K to Perkins's $200K to go from ~23.9% (last verified % on Jan 25) to <= 17.0% in 3.5 months while already in a depleted state from previous weight loss... Of course he isn't at or over nearly 82% to ship this and snap took the offer without any consideration.
I would completely avoid side betting any of Perkins's charity "prop bets" in the future, but if you do decide to bet have a clause with whoever you bet with that any sort of buyout on either side voids to the bet.
Perkins giving him $800K as a buy out is such a gift that hopefully Deeb can report it on taxes as such (a gift) and not gambling earnings.
I'll preface this by saying that I didn't have any action on this bet.
Letting Deeb buyout for $800K when that is no where near his actual equity is letting him off the hook big time and screwing over people who side bet this in a major way, perhaps for a larger amount than the differential between Shaun's EV and his buyout price.
At the point of buyout Shaun's "full bet" would be his $900K to Perkins's $200K to go from ~23.9% (last verified % on Jan 25) to <= 17.0% in 3.5 months while already in
Deeb was paid 800k, he didn't buy out sht
Perkins giving him $800K as a buy out is such a gift that hopefully Deeb can report it on taxes as such (a gift) and not gambling earnings.
Huh, I've never thought of the taxation implications of a bet like this. If this is actually a reportable gambling loss for Perkins and gambling win for Deeb, it could really be taken advantage of.
Like, let's say you want to hire a house painter and know someone who already has a bunch of gambling losses. You could offer something like "I'll bet you $10,000 you can't paint my house!".
If that's a gambling loss for you, you wouldn't have to pay the FICA employment tax. And they wouldn't have to pay taxes on the income at all, since they could just offset it with gambling losses.
Huh, I've never thought of the taxation implications of a bet like this. If this is actually a reportable gambling loss for Perkins and gambling win for Deeb, it could really be taken advantage of.
Like, let's say you want to hire a house painter and know someone who already has a bunch of gambling losses. You could offer something like "I'll bet you $10,000 you can't paint my house!".
If that's a gambling loss for you, you wouldn't have to pay the FICA employment tax. And they wouldn't have
yeah but Deeb ain't painting sh*t
Huh, I've never thought of the taxation implications of a bet like this. If this is actually a reportable gambling loss for Perkins and gambling win for Deeb, it could really be taken advantage of.
Like, let's say you want to hire a house painter and know someone who already has a bunch of gambling losses. You could offer something like "I'll bet you $10,000 you can't paint my house!".
If that's a gambling loss for you, you wouldn't have to pay the FICA employment tax. And they wouldn't have
You don’t pay FICA on such a contract. The recipient would hardly be considered a W2 employee. Painter would be on the hook for SE tax, the full 15%+ portion.
I mean, if Bill just wanted to be charitable he should still have forced Shaun to complete the bet and then told him "lol I just did it to motivate you, heres my money". Now he just gave away the money and Deeb didnt even have to complete the bet, ruining the fun for everyone who was sweating the outcome and/or had sidebets.
Who knows the details, maybe Perkins offered 800k, but paid in 100k installments over next 8 years so NPV is way less than 800k. I can’t imagine Perkins settling for 80% up front when it’s maybe not even 50/50 that Deeb makes the “final mile” so to speak.
