30 day $5k from 5.50 and under SNG prop bet...

[2Tone]

WTF? This bet was about endurance, not performance. I'd be happy to make a large wager that I can run one 8 minute mile. I just can't run 26 8-minute miles in a row.

I thought all the money was escrowed? Why is there any question at all if it shouldn't be paid in full as soon as it is officially due?

The toll it took on him is unfortunate, but not surprising. In fact, it is WHY he was able to get action. Because this is exactly what everyone who bet against him thought would happen.

And while I understand the position that if you are not in the bet (which I am not) than it is none of your business, it seems odd that he is posting in other reads without addressing the situation more publicly.

[Talking Poker]

Actually, he hasn't posted yet, since calling it off via PM. He's said nothing publicly about it or anything else.

Basically, he admitted defeat, but sort of pleaded to be let off the hook at a discount. There are private discussions going on. People feel badly for him, but I have yet to see a single person say he should be let off. Some are talking about letting him work out a payment plan, but I don't get it. The money has been confirmed as escrowed... well, he escrowed some and his PTP staker investments will cover the rest, but I suppose it could be a while before those pan out and pay off.

IMO, he needs to pay in full now, and if some investors feel badly for him and want to lend him money or whatever, great... but that's an individual decision that should be made after the fact.

Somewhat realted... in the original thread about this, some tool was insisting that winning $2500 in 15 days is exactly the same as $5000 in 30 days (or any other $/day ration you want to make up). People tried and tried to explain to him how this bet was about endurance, not a short term ROI... and I think it's pretty obvious now, and fitting, considering how well he was doing (just barely behind) at the 2 week mark, only to have a total 2 days later.

[bdawg31]

I find it fascinating that poker players (i.e. gamblers) refuse to understand how 'betting' works.

I also thought that this kid was suppose to have ALL of his money escrowed for this bet, not part of it. I thought i saw that somewhere buried in this thread, but maybe that changed.

[omahilo]

Im sorry but sitting in front of a computer for 16 hrs a day for 30 days playing .25 cent NLHE would make ME sick to my stomach... Just the thought of trying to do this myself makes me want to throw up. I just cant sit in front of a computer and play poker like that, I have to have a life outside of playing poker.

[jhill3535]

He formally conceded the bet today.

All escrowed funds have been sent back to the bettors and since the funds that he escrowed matched the amounts that were escrowed against him and the extra that he escrowed (about half of the remainder that is owed) will be distributed tomorrow.

The remainder that he owes will be paid off by the date the bet was actually supposed to end. I think this is fair.

After taking into account all the money he made from playing, BOP, FPPs, and other endeavors whilst playing he figures that even after paying off the bets he only actually lost about $800.

[Tony Cheval]

$800 for a valuable life lesson? I call that a bargain.