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One announces the phrase "Gazillion Dollar Bet", when they are so sure about something, that they would be willing to bet a whole one Gazillion (a lot) dollars on it.
Gazillion Dollar Bet can be implied to any statement, claim or competition.

Upon recieving the challenge of a Gazillion Dollar Bet, the betee must either back down to the beter's terms, or accept the Gazillion Dollar Bet.

A Gazillion dollars cannot be repaid easily, and this term should not be used lightly.
The loser of a Gazillion Dollar Bet shall forever be indebted unto the person they lost the Gazillion Dollar Bet to, untill the loser of the initial Gazillion Dollar Bet wins a Gazillion Dollar Bet against the initial winner. Or, in the miraculous case that the loser of the Gazillion Dollar Bet has a Gazillion dollars, payment of the owed Gazillion dollars is an acceptable settlement of the Gazillion Dollar Bet.

In both cases, the debts shall then revert back to no dollars owing from either party.
Dude, how sweet is Anakin Skywalker's plait behind his ear in Star Wars III?
Dude, you're such a Gronk; Anakin has the plait in Star Wars II.
Bullshit, I'm sure he has it in number three.
Gazillion Dollar Bet?
Done.

In this scenario, the accuséd Gronk would lose a Gazillion dollars, for everyone knows Anakin has the plait in the second movie.

Spotto! (Punches Boyfriend)
What the hell, as if that car was yellow!
Gazillion Dollar Bet?
How can we ever resolve that?
Mmm true.

In this situation, the Gazillion Dollar Bet is void for it could never be truly resolved.

Note: in no way does the author of this document or his/her associates and/or proprietors endorse the undertaking of gambling and/or punching of boyfriends.
by Husuf March 26, 2010
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