No one ever discussed anything like that. You post 5K worth of BTC. End of the wager if you lose, that's it he takes your bitcoin. You win, then you get it back.

Scam - you lose it all. And there are different kinds of scams. Just for example, a long con would be a fixed judging. Wizard might not have ended up a judge, and said he didn't think he qualified. Plus Wizard didn't want to be the bag man, only said he would do it if no one else would.

Anyway, it's not even worth discussing. Look how long it is taking just for you and me to discuss even a small aspect of the matter. Imagine how much time it would have taken if the Challenge had progressed. Again, if it had been simple and progressed quickly, it would already have started by now.