Back in January 2011, Edmund Hooper of Quebec took out a $500K mortgage on his house to pay off the debt. The bet was $517K in a best-of-three game of rock paper scissors.
Michel Primeau, the winner of the wager got away with making the easiest half-million Canadian dollars ever earned; or so he thought. 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. The wager also cannot be “excessive.”
Because rock paper scissors is not simply a game of luck, Superior Court Justice Chantal Chatelain gave Mr. Hooper another out. Chatelain ruled that the amount wagered was too excessive. If only they wagered in American dollars, the amount would only have been $367K, a number, sources familiar with Chatelain’s thinking, would consider within the guidelines of Canada’s wagering laws.
The real story here is that its legal to make wagers like this legal. Find your nearest notary public today and start betting away.