Need your advice -- do I kill this person?

[jwiley10]

Sorry if this is long, but you need to know all the facts.

So a couple weeks ago, three of my co-workers and I went up to Mesquite, Nevada to play a little golf. In that we had an early tee time, we went up the night before and played a little blackjack, bet on the ponies, etc. This was the night before the NBA Playoffs started. At the sportsbook, the Atlanta Hawks' odds to win their playoff series against the Boston Celtics was 3500-1. I thought, "what the heck" and threw $10 down on the Hawks figuring I could use the $35k if Atlanta shocked the world.

Last Friday thru Sunday I was in Louisville (i.e. not somewhere I could make a sportswager). After the Hawks won Game 6 and forced a Game 7 I was on cloud nine as I had the perfect "hedge situation". I called one of my co-workers and we discussed our strategy. The money line odds for Boston (Boston to win outright without a spread) was -500. Meaning you had to wager $500 to win $100. We decided there was no way Atlanta was going to win (David Stern wouldn't let that happen) so we decided he was going to place a $30k bet on Boston to win to win $6k.

Thus, our two scenarios were a) if Atlanta wins, we would pocket $35k on our bet minus the $30k we put down on Game 7 for a total take of $5k; or b) if Boston won, we would pocked $6k minus the $20 initial bet for a total take of $5980.

Sunday morning rolls around, and I get a call from my co-worker stating that he failed to place the Game 7 bet on Boston. Long story short, he thought the game was an afternoon game and not at 9:30 am PDT and simply bricked on getting to the sportsbook. I turn on the TV thinking if Atlanta could somehow do the impossible I would win $35k, but of course, they were losing my about one hundred points in the first half.

So, my $10 investment that would have netted me at least $5k went by the wayside because of this guy's ineptitude. Do I murder him?

[NotMyKid]

I wouldn't kill him but he definitely owes you at least lunch and a BJ. ;D

[Hawkeyes1982]

for sure owes you lunch and a BJ and a case of beer.

[NOTTHOR]

I'd say yes, but the real moron here is you. Your friend is obviously a dirty hippie who hates America and knows nothing about sports. Your firm's continued employment of such hippie is malpractice per se and you are exposed to huge liability every day he goes to work.

By the time you cut it in half, pay your taxes on it (I'm assuming they would have tossed you a 1099), and get your celebratory models and bottles, you would have have been down $200 in the end anyway, so it's really not that big of a deal. Plus, if somehow ATL would have pulled it off, you would have been sitting so pretty and you would have told the guy how awesome it was that he didn't place the bet. No biggie brah. Charge it to the game. It'll come back.

[The Bluzmn]

Kill him.

[socal]

May 8, 2008 9:24:11 GMT -6 jwiley10 said:

At the sportsbook, the Atlanta Hawks' odds to win their playoff series against the Boston Celtics was 3500-1. I thought, "what the heck" and threw $10 down on the Hawks figuring I could use the $35k if Atlanta shocked the world.

...

Thus, our two scenarios were a) if Atlanta wins, we would pocket $35k on our bet minus the $30k we put down on Game 7 for a total take of $5k; or b) if Boston won, we would pocked $6k minus the $20 initial bet for a total take of $5980.

...

So, my $10 investment that would have netted me at least $5k went by the wayside because of this guy's ineptitude. Do I murder him?

Which was it? A $10 bet, or a $20 bet on 3500-1 odds? You stated $10 twice, but you did actual math regarding the $20 number...

Regarding your quandry... I would look at how much of the "hedge" bet was coming out of his bank account. If it was all his money, that's his choice... and it really never was & still is not your money.

But if you gave him some or all of the money to bet, the scenario changes... in direct proportion to you, being the one responsible for placing the hedge bet.

Look at it this way... (assuming he hadn't placed the hedge bet)... If Atlanta had won the series, would you have given him half of your winnings?

[NOTTHOR]

May 8, 2008 10:19:50 GMT -6 socal said:

May 8, 2008 9:24:11 GMT -6 jwiley10 said:

At the sportsbook, the Atlanta Hawks' odds to win their playoff series against the Boston Celtics was 3500-1. I thought, "what the heck" and threw $10 down on the Hawks figuring I could use the $35k if Atlanta shocked the world.

...


Look at it this way... (assuming he hadn't placed the hedge bet)... If Atlanta had won the series, would you have given him half of your winnings?

Of course he wouldn't have. He would have asserted some statute of frauds defense to contract formation and the other guy would have been out 30 large. They teach you that your first week at the esteemed U of I College of Law and then reinforce it daily over the course of three years.

[jwiley10]

$10 bet. Not sure why I referenced a $20 bet.

My inept co-worker would have received the hedge bet amount he fronted first, and all profits were going to be split.

The thing is, we confirmed our hedge amounts Saturday morning. He had 24 hours to go to the book and place the bet, but failed miserably. Granted, he has been on the road in Alaska and Miami for depositions the past two weeks, but failing to take 20 minutes to throw down the wager is inexcusable.

[socal]

May 8, 2008 10:27:57 GMT -6 NOTTHOR said:

May 8, 2008 10:19:50 GMT -6 socal said:

May 8, 2008 9:24:11 GMT -6 jwiley10 said:

At the sportsbook, the Atlanta Hawks' odds to win their playoff series against the Boston Celtics was 3500-1. I thought, "what the heck" and threw $10 down on the Hawks figuring I could use the $35k if Atlanta shocked the world.

...


Look at it this way... (assuming he hadn't placed the hedge bet)... If Atlanta had won the series, would you have given him half of your winnings?

Of course he wouldn't have. He would have asserted some statute of frauds defense to contract formation and the other guy would have been out 30 large. They teach you that your first week at the esteemed U of I College of Law and then reinforce it daily over the course of three years.

Is that before - or after the class on "Skipping on your Dr. Bill because u wuz shot or had your head bashed in."

[thunderhawk]

You obviously need your own bookie. What were you thinking? A 5K sure thing and you leave it up to some schmuck who can't even check the net for tipoff time?

Murder-suicide is probably the most deserving option.

[jwiley10]

But that's the thing, I live in Nevada. I don't need a bookie. Everywhere you go there is a casino with a sportsbook. All I need is someone who can a) understand English; b) go to the bank and withdraw certified funds; c) go to a sportsbook and place the wager.

[NOTTHOR]

May 8, 2008 11:16:45 GMT -6 jwiley10 said:

But that's the thing, I live in Nevada. I don't need a bookie. Everywhere you go there is a casino with a sportsbook. All I need is someone who can a) understand English; b) go to the bank and withdraw certified funds; c) go to a sportsbook and place the wager.

I'm very troubled about your call using an instrument of interstate commerce to communicate across state lines to coordinate the wager. You should self report that to the state bar association. I hope we can get more religious conservatives in DC who can protect you from yourself and limit gambling to the stock market.