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ruling in the Nordic Open SJ

Posted By: Phil simborg
Date: Friday, 10 April 2015, at 8:11 p.m.

In Response To: ruling in the Nordic Open SJ (niuniuch)

I think you may be ignoring an important part of the hedge. As stated it is claimed that the person offering the hedge stated that the winner would receive $1500 when in fact that was not true. He would be in a position where the equity of that position is worth $1500, but it is not possible to simply convert that equity into dollars. So there is a question ad to whether the hedge was offered with misleading information.

If my opponent walked up to me and said that he checked and the winner of our match gets $2000 and would I like to hedge $500 I might well take him at his word. We shook hands on a deal that was made on a premice. If I found out later he misrepresented the situation, either intentionally or accidentally, I would have strong reason to argue that the hedge was made under a false assumption that he had stated as if fact. Yes, one could say I should have checked the facts but if I had no reason to doubt I might not. And that is why there is a legitimate question here.

What if I bet you that tom will not win the finals match that starts in 10 minutes. And you said okay. And then you found out tom was not in the finals. Would you pay? There was a false assumption that was made that I led you to believe.

At the very least this is somewhat of a gray area. It is not black and white as you seem to suggest, in my opinion.

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