Ex-NBAer Jay Williams -- LOSES BBALL GAME TO MTV STAR ... In EPIC Fashion

The trash talking is over ... the speculation is over ... and now Jay Williams' reputation as a basketball player might be over ... 'cause the former NBA #2 pick LOST his bball bet with MTV star Andrew Schulz in embarrassingly epic fashion.

Jay and Andrew finally got the game poppin' in NYC Sunday night with Schulz's "Brilliant Idiots" co-host Charlamagne Tha God and ESPN's Amin Elhassan on hand to call the match up.

To jog your memory ... the two agreed to play to seven for $1k with Jay spotting Andrew 6 POINTS ... meaning Schulz only had to score once to beat the 2002 college player of the year.

Things started out great for Jay ... locking Andrew down on defense and scoring at will ... but Jay tried to get a little fancy when he got to game point, and everything went to hoops hell.

Congrats, Andrew ... we're all here for you, Jay.