TL;DR - Make your bet, lose your weight, profit from people who failed.
The Bet:
You have 90 days to lose Your Goal % of your body weight.
If you meet your goal, you will obviously be returned the entirety of your buy-in. You will also be eligible for your share of the pool money from other peoples failures. Your Failure Pool share is proportional to the amount you wagered successfully, compared to other successful wagers.
Your Profit Share: (Your Buy-in / Total Successful Buy-ins) * (Failure Pool)
Note: If you have a lower goal than 10%, you have assume lower risk for this bet. Your share in the profits will be lower as well. In this case, for profit sharing calculations, your Buy-in will modified by (your weight loss goal %) / (10%) . This cannot exceed 100% of your buy-in."
At the end of 90 days, for every % short of your goal you are, you lose that proportion of your Buy-in to the Failure Pool. You are returned the remainder of your buy-in. There is no pool money distributed to failures.
Buy-In % returned: (%achieved) / (%goal)
The Buy-in Amount:
However much you are willing to wager for motivation/profit. Higher profits for higher risk. All Buy-ins are collected on entering into this prop. BigBadBabar is serving as escrow for this bet.
HOW DO I GET IN ON THE ACTION?
1. Reply in this thread using the quote below.
2. Attach a picture of your scale reading with you standing on it. If you cheat, you're scum imo.
3. Ship BigBadBabar your buy-in. Post in this thread saying shipped. His info is in the first reply.
Quote:
Starting Weight: (must match attached picture)
Goal Weight loss %: (most people are doing 10%)
Buy-in Amount: (don't be too nitty, challenge yourself)
Start Date: (No more entries after June 1st)
Finish Date: (make sure this is 90 days from your start date)
I will be distributing profits from the Failure Pool in early September.
Last edited by BigBadBabar; 05-21-2010 at 05:42 PM.