Hold on here...the whole thing is an 'assumption of risk'. You stated that the most he had at risk was $20, and in that same statement indicated that his life was at risk as well (why else would he need to pack heat?). So if his life is at risk, and the most he can lose is $20, then his life is worth less than $20. It's simple logic...
"Nobody beats Vitas Gerulaitis 17 times in a row" -- Vitas Gerulaitis, after beating Jimmy Connors on his 17th try.