Dan Bilzerian Raises The Stakes On Cycling Gamble
Bilzerian's Private Jet Goes To Rick Salomon If He Dies
High-stakes gambler Dan Bilzerian was risking $600,000 on a Los Angeles-to-Las Vegas cycling bet, but now he could end up losing his private jet.
Bilzerian and hedge fund manager Bill Perkins (also a poker player) agreed to the bet last month, which calls for Bilzerian to cycle roughly 300 miles to the iconic “Welcome to Las Vegas” sign. Bilzerian said on Twitter this week that he could lose his G4, a private jet worth tens of millions of dollars, if he doesn’t make the ride.
Rick Salomon, another wealthy celebrity who often plays high-stakes poker, will win the airplane only if Bilzerian dies or “goes brain dead.” In other words, Salomon is basically in Bilzerian’s will. If Bilzerian completes the bike ride in the alloted 48 hours, he will win $250,000 from Salomon, in addition to the $600,000 from Perkins. If Bilzerian taps out for any other reason or can’t do the ride in time, the bet is a wash.
So, if he successfully climbs 1,700 feet on the way to Las Vegas, he will win nearly $1 million. That’s a lot, but Bilzerain once bet $2.3 million on a coin toss, so the cycling bet is merely average by his standards. Bilzerian said on Twitter that he knows of a lot of side action being booked on the ride. “Everyone firing on this,” he said.
In order to prepare for the ride, which must happen before Mar. 31, Bilzerian convinced Lance Armstrong to coach him. According to The New York Post, the 35-year-old is donating $25,000 to Armstrong’s child-cancer charity. Bilzerian said he’s also spending more than $100,000 on equipment and all the people helping him during the ride.
Bilzerian, the son of so-called “corporate raider” Paul Bilzerian, says he has won millions playing poker with celebrities over the years, but he has also admitted the he benefited from a trust fund.
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