Quebec law stipulates that for a wagering contract to be valid, it must be related to activities “requiring only skill or bodily exertion on the part of the parties,” rather than to chance. Furthermore, the amount wagered must not be excessive. The court ruled that there was some skill in the game, but that half a million dollars was a bit excessive.
OK, it sounds like a ballsy bet, but it’s $517,000 in beaver bucks, not god-fearin’ greenbacks. How could that be excessive? Isn’t that like four muffins at Tim Hortons?
Kidding aside, it’s more than $350,000, even in real money.
I find it amazing that the guy took out a mortgage on his house to pay for it. Apparently stupidly reckless AND honorable.