Quote:
Originally Posted by thekey30
id be mad at myself for letting my greed get in the way of proper thinking. u dont extend credit to those who A) dont pay when they are supposed to B) give u the run around for small amts. The fact that this was well known about erick,suggests those who allowed him to continue entering, were just as much at fault as erick is.
I don't think anyone in here is saying they share no awareness that this was a possibility; there are many posts from people saying "I knew he had a bad rep" or "I had been told he wouldn't pay quickly". That doesn't mean they can't take any legal means necessary to get paid, including outing him as a deadbeat and ruining his reputation.
In the end, it's just an EV calculation; you bet $10K with him, you think you have 40% chance of losing (minus 10K), 50% chance of winning and getting paid (plus 10K), 10% of winning and getting stiffed (net 0). Still a positive bet for you. Of course, after FTP went down and with his history, maybe it should have been more like 40% loss, 30% win and get paid, 30% win and get stiffed, in which case, you shouldn't bet, but that's a bit of 20-20 hindsight now.