A High- Stakes weight loss would like some opinions
Hi guys, my name is Chauncey. I run a lot of high-stakes private games in South Florida, and I was just curious to get some opinions on a side bet that happened recently.
Two players in my game—let's call them Sizzle and Frost for privacy reasons—made a weight loss bet around the end of April. The bet was supposed to end on October 15th. It had a couple of stipulations but was primarily based on body fat percentage. These two players discussed the bet for about a week before getting body scans, and the overall wager was for a decent amount—around $12.5k total between them.
A few weeks ago, Sizzle was playing, and another player—let's call him Tincup—saw him at another casino and asked about the bet. Sizzle ended up getting Tincup to make a $10,000 side bet against him. From Sizzle’s side of the story, he explained the terms in detail and said the bet would end on October 15th. Tincup was blackout drunk at the time and told me last week that he felt a little slighted, as he didn’t fully understand the terms.
Keep in mind, Sizzle has a number of other smaller side bets with various players—like $500 from me and a few other guys in the game. Frost may also have one or two small side bets with others.
Today, Frost bought out of the main bet, and Sizzle sent everyone a message asking for 53% of the total bet to be paid. Tincup was pissed and offered $2,500, which I think is more than fair.
What do you think Tincup should do? Honestly, I feel like all these side bets are jeopardizing the integrity of the main bet, especially since more action is essentially being won on the side. Frost only paid $4,000 to Sizzle, but was actually winning by a small percentage when they weighed in today.
The weight bet had two stipulations: one was $7,500 for body fat percentage to be under a certain number, and the other was for who lost more weight. Sizzle lost more, but they canceled the other part of the action.
I’m not really sure what Tincup should pay or offer. He did offer $2,500, which I thought was more than fair.
10 Replies
The message I received from Sizzle just to be clear was that Frost bought out for 53.3% of the bet I would owe that same rate so $266 of 500. Which I think was fair but do you guys think that should be the same and as fair for Tincup?
everyone listed in the bet is honorable trustworthy and never welched, Tincup def should have contacted Sizzle after making the bet immediately but let time go by which is why I dont think he owes 5300 but something.
Two plus two isn't best place to arbitrate we don't know the people and situation well. Sounds like they asked you/want you to arbitrate so just have them agree to binding arbitration and make a decision. Usually a good decision for an arbitrator makes both parties a little unhappy unless one side was just trying to be a dick.
Don’t see why you want to get involved. You have nothing to gain but plenty you could lose. I would just tell everyone I wasn’t there, I don’t know what transpired, I am not able to make an informed decision.
Basically just stay out of it if you can.
1)making a bet with someone who is drunk off his ass is super scummy. Guy should have the right to cancel the bet the next morning when he sobers up if he wants.
2)Frost buying out is irrelevant for everyone else.
Everyone else bet he has to lose x body fat by Oct 15th. That's their bet. If they want to negotiate a buyout that's up to those parties but if I bet with Sizzle I'm not paying him a dime yet.
Sizzle made the same bet with a bunch of people. Those are completely separate transactions.
Let's say you bet a football game -7 with 10 different people, and a half time you're up 21. One guy asks you to buy out ,you agree on a number and he pays.
The other 9 people still have the other team +7 for the entire game. Why would one guy buying out change anything?
1)2)Frost buying out is irrelevant for everyone else. Everyone else bet he has to lose x body fat by Oct 15th. That's their bet. If they want to negotiate a buyout that's up to those parties but if I bet with Sizzle I'm not paying him a dime yet.Sizzle made the same bet with a bunch of people. Those are completely separate transactions.Let's say you bet a football game -7 with
I normally agree with this attitude on most bets, but the problem is Frost just dropped out and went from biggest loser champion eating lettuce and running on a treadmill to sitting on the couch eating pizza and beer because the bet is over.
I would think the side bets would imply that both parties are at least trying to lose weight?
I don't know it's a tough one. It seems to me that as far as the side bets are concerned it should be somewhere between sizzle winning and the bets being voided but I don't know what amount in the middle is fair.
The main bet buying out doesnt have anything to do with the side action.
The weight bet had two stipulations: one was $7,500 for body fat percentage to be under a certain number, and the other was for who lost more weight. Sizzle lost more, but they canceled the other part of the action.
Tricky, somewhat unclear terms. Are all the sides made on these stipulations, where a portion of the bet was body fat %, the other portion was most weight overall?
If neither reach the body fat % number, that portion of the bet would cancel out, right?
Sounds like original bet was 12.5k total, 7.5k towards body fat, then 5k towards overall weight? 60/40 split?
If all side bets are doing is taking one side or the other, certainly not over.
Imo sides would be split 60/40 too, the body fat portion cancels if neither meet the number. The other 40% is live for who's lost the most overall weight on Oct 15.
Not sure where the 53% came from, or how Sizzle thinks everyone is subject to it.
