Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds!

[len01]

As suggested only thing that can be done is through reducing the stake, because we can't be sure of the outcome. With the mentioned odd losing the bet is really unbelievable, but things happen for our bad luck. Maybe this bet loss could be a big learning for more other users who have the mentality to go for high stakes on low odds.

it's quite simple that all types of bets in gambling still depend on luck even though sports betting is famous for the greater luck that you get from analyzing one of the teams, but there will always be surprises in every match. so there's no need to be too greedy for betting large amounts at small odd.
and some people here must think that the guy bet 1.4 million dollars just because of greed.

[Wiwo]

As suggested only thing that can be done is through reducing the stake, because we can't be sure of the outcome. With the mentioned odd losing the bet is really unbelievable, but things happen for our bad luck. Maybe this bet loss could be a big learning for more other users who have the mentality to go for high stakes on low odds.

it's quite simple that all types of bets in gambling still depend on luck even though sports betting is famous for the greater luck that you get from analyzing one of the teams, but there will always be surprises in every match. so there's no need to be too greedy for betting large amounts at small odds.
and some people here must think that the guy bet 1.4 million dollars just because of greed.

Yeah, luck plays an important role in gambling and history can attest to that simple fact alit of the time most gamblers have a hard they fortune change all with just luck and this could be in both ways, gambling requires high risk and even though you did you analyses of the possible outcome of the game, some uncontrollable events and mistakes can twist everything in whatever directions, sometimes it favours the player and other time the player will lose outrightly just like the case of the oos in this story.

So we will still rely much on luck no matter the level of our expertise in the game, this is the reality we must leave within gambling, but then the responsibility of how much we risk on a bet is left for us to decide and in most case, it is better to stake a smaller amount instead taking some deadly risks.

[qwertyup23]

As suggested only thing that can be done is through reducing the stake, because we can't be sure of the outcome. With the mentioned odd losing the bet is really unbelievable, but things happen for our bad luck. Maybe this bet loss could be a big learning for more other users who have the mentality to go for high stakes on low odds.

it's quite simple that all types of bets in gambling still depend on luck even though sports betting is famous for the greater luck that you get from analyzing one of the teams, but there will always be surprises in every match. so there's no need to be too greedy for betting large amounts at small odd.
and some people here must think that the guy bet 1.4 million dollars just because of greed.

Again, there is nothing absolute in gambling. Even if the odds are relatively low and you may consider it as a safe bet, no one is still safe in this kind of venture.

Personally, a person who gambles with 1.01 odds is just unlucky- he should have at least divided his bets and wagered a relatively small amount of money in the process. To reiterate, there is nothing absolute in gambling even if the odds are seemingly with you. You may think that this is a safe and guaranteed bet but this just explains on why gambling can be both brutal and rewarding at the same time.

Yes it is possible to avoid risk if one knows well about gambling before starting gambling. Many people get greedy and lose everything because they don't risk money you have to start the game with small bets first. If you start with big bad you are more likely to lose in the first round it will disappoint you. So start playing with small amount of bets first and choose a good quality casino platform which is very reliable.

I do think it is more on understanding on what you are betting your money on. Sure, 1.01 odds may seem like a safe bet that can give you a win 80-90% of the time but that hidden 1% may still cost you the game. Yup, the guy was very unlucky but he should know that this kind of outcome is definitely possible in this kind of activity.

[serjent05]

As suggested only thing that can be done is through reducing the stake, because we can't be sure of the outcome. With the mentioned odd losing the bet is really unbelievable, but things happen for our bad luck. Maybe this bet loss could be a big learning for more other users who have the mentality to go for high stakes on low odds.

it's quite simple that all types of bets in gambling still depend on luck even though sports betting is famous for the greater luck that you get from analyzing one of the teams, but there will always be surprises in every match. so there's no need to be too greedy for betting large amounts at small odd.
and some people here must think that the guy bet 1.4 million dollars just because of greed.

In gambling, Luck plays a huge part. It is the modifier that dictates the result of the game.  Sports betting being categorized as a skill-based game is still dependent on the chance of things happening.  Like the chance of a player not performing well, a chance of unexpected lapses on players, and the chance of an accidental field goal, there are lots of scenarios where luck can play a huge part to change the course of the game.  Just like what happened in this game where the guy losses 1.4m.  The guy bet on the leading team but the opponent caught up and win.

[CYBER_COWBOY]

I agree with you 100% that - "it's really risky playing an huge amount. This not helps gambler because the risk is much much higher then rewards!"

Me personal would never bet like this, i bet normal amounts and looking for odds all from 1.50x and up.
I rarley touch odds under 1.40x

Even with such odds there is still likelyhood that tou still will lose and when it comes to gambling, we should note the place for luck and if we have no luck by our side whateverthe odds or the staking amount will be it will still not get us rewards as expected.

So the gambler who risked such amount may have run out of luck this time because a 1.01 odds is relatively a sure odds to bet whaatever amount on.

But you said it very good "the risk is much much higher tthan thanrewards!"

Much better to play with 5% of the money and find a very doable double or single around 2x and then work himself up, that's aat least how would do.

So.e time, no risk and no reward, but definitely 1.14 million dollars risk is too much for anyone to bear then shit happens and oos need to move on at this moment since he can afford to risk an amount of 1.14 million in pote al 14k rewards it sounds ridiculous.

Of course it is, nobody have a 100% win record, you just must be good enough to win more often then you lose and check up the games before you bet and minimize the luck.

[Wiwo]

Of course it is, nobody have a 100% win record, you just must be good enough to win more often then you lose and check up the games before you bet and minimize the luck.

Luck is also an important factor in gambling and since it is impossible to win continually without any loss and also vis-vassal in trying to minimize the number of losses its most important to meet up with the necessary input that will guarantee you winning and relying a little on Luck and these mechanisms have worked for a lot of gamblers in minimizing risk.

In the case of the ops mentioned in this thread, it's clear that the gambler was out of luck and risked too much on the bet due to the low odds and thinking that it was a sure odds for him to stake such an amount even though the reward seems extremely low.

[lienfaye]

As suggested only thing that can be done is through reducing the stake, because we can't be sure of the outcome. With the mentioned odd losing the bet is really unbelievable, but things happen for our bad luck. Maybe this bet loss could be a big learning for more other users who have the mentality to go for high stakes on low odds.

it's quite simple that all types of bets in gambling still depend on luck even though sports betting is famous for the greater luck that you get from analyzing one of the teams, but there will always be surprises in every match. so there's no need to be too greedy for betting large amounts at small odd.
and some people here must think that the guy bet 1.4 million dollars just because of greed.

In gambling, Luck plays a huge part. It is the modifier that dictates the result of the game.  Sports betting being categorized as a skill-based game is still dependent on the chance of things happening.  Like the chance of a player not performing well, a chance of unexpected lapses on players, and the chance of an accidental field goal, there are lots of scenarios where luck can play a huge part to change the course of the game.  Just like what happened in this game where the guy losses 1.4m.  The guy bet on the leading team but the opponent caught up and win.

Indeed. Odds are not only the basis because the result can change unexpectedly if the scenarios that you mentioned happened during the game (in sports betting). Just shows there's no 100% assurance in gambling, so don't bet huge amount if you can't bear losing it incase something went wrong. It's still better to risk a money that you're still fine even you happen to lose it. So before placing a bet always think twice and lower your hopes to not have regrets after since you're prepared regardless of the result.

[tusandii]

In the case of the ops mentioned in this thread, it's clear that the gambler was out of luck and risked too much on the bet due to the low odds and thinking that it was a sure odds for him to stake such an amount even though the reward seems extremely low.

This is done because low odds can mostly give a greater percentage of wins.
The house is the winner in gambling, so if in a bet someone has a bigger winning percentage, the house will further reduce the profit opportunities so that when many gamblers win, the casino will only spend a little money.
So it's only natural if someone dares to take risks with quite a lot of money even though the prizes are relatively lower, friend.
But after all, gambling is something that is uncertain and the end result can change and go against logic, so we must always be careful.

[Hamphser]

Of course it is, nobody have a 100% win record, you just must be good enough to win more often then you lose and check up the games before you bet and minimize the luck.

Luck is also an important factor in gambling and since it is impossible to win continually without any loss and also vis-vassal in trying to minimize the number of losses its most important to meet up with the necessary input that will guarantee you winning and relying a little on Luck and these mechanisms have worked for a lot of gamblers in minimizing risk.

In the case of the ops mentioned in this thread, it's clear that the gambler was out of luck and risked too much on the bet due to the low odds and thinking that it was a sure odds for him to stake such an amount even though the reward seems extremely low.

Luck is indeed a solid main factor which is needed when it comes to gambling because no matter how big is your winning chance as long there's a slim chance of lossing then there's always a chance for it to be hit up.

We know that gambling odds could really be something that have higher winning rate but if you arent that lucky enough then you would eventually lose no matter how small the chances are.
This is why going all in or having that kind of behavior on making that huge bets on low odds then it would be something a risks needs to take but since you are dealing with gambling then it would really be just that normal and you should be wary about the consequences when it comes to losing huge money if the outcome would turn out to be different on what you do expect.

[EarnOnVictor]

As suggested only thing that can be done is through reducing the stake, because we can't be sure of the outcome. With the mentioned odd losing the bet is really unbelievable, but things happen for our bad luck. Maybe this bet loss could be a big learning for more other users who have the mentality to go for high stakes on low odds.

it's quite simple that all types of bets in gambling still depend on luck even though sports betting is famous for the greater luck that you get from analyzing one of the teams, but there will always be surprises in every match. so there's no need to be too greedy for betting large amounts at small odd.
and some people here must think that the guy bet 1.4 million dollars just because of greed.

In gambling, Luck plays a huge part. It is the modifier that dictates the result of the game.  Sports betting being categorized as a skill-based game is still dependent on the chance of things happening.  Like the chance of a player not performing well, a chance of unexpected lapses on players, and the chance of an accidental field goal, there are lots of scenarios where luck can play a huge part to change the course of the game.  Just like what happened in this game where the guy losses 1.4m.  The guy bet on the leading team but the opponent caught up and win.

Indeed. Odds are not only the basis because the result can change unexpectedly if the scenarios that you mentioned happened during the game (in sports betting). Just shows there's no 100% assurance in gambling, so don't bet huge amount if you can't bear losing it incase something went wrong. It's still better to risk a money that you're still fine even you happen to lose it. So before placing a bet always think twice and lower your hopes to not have regrets after since you're prepared regardless of the result.

You wrote like someone that understands gambling. It's a thing to gamble and not understand how to preserve your account or be affected by the outcome, and it's another thing to gamble, fully understand the risk and have the managerial calculation that will never let the outcome bothers you. Gambling with a huge amount is just off, if there is money, gambling could be well planned and divided into different games that if one loses, the other will win. That is wisdom, and no one should risk more than what they can afford to lose.

[ethereumhunter]

Luck is indeed a solid main factor which is needed when it comes to gambling because no matter how big is your winning chance as long there's a slim chance of lossing then there's always a chance for it to be hit up.

We know that gambling odds could really be something that have higher winning rate but if you arent that lucky enough then you would eventually lose no matter how small the chances are.
This is why going all in or having that kind of behavior on making that huge bets on low odds then it would be something a risks needs to take but since you are dealing with gambling then it would really be just that normal and you should be wary about the consequences when it comes to losing huge money if the outcome would turn out to be different on what you do expect.

By remembering that luck is the main factor needed in gambling, we shouldn't have to try hard to win the game and just have fun. By avoiding it, we will not try to make big bets because it is not worth the risk we will get, especially in gambling there is no guarantee we can win. So we won't be gamblers who have lost a lot of money because we can avoid using big money to gamble. We can also avoid the feeling we will get after knowing we suffered that big defeat because it can bring great disappointment and frustration. And also, we can get addicted to gambling because we want to recover that loss.

[Wiwo]

In the case of the ops mentioned in this thread, it's clear that the gambler was out of luck and risked too much on the bet due to the low odds and thinking that it was a sure odds for him to stake such an amount even though the reward seems extremely low.

This is done because low odds can mostly give a greater percentage of wins.
The house is the winner in gambling, so if in a bet someone has a bigger winning percentage, the house will further reduce the profit opportunities so that when many gamblers win, the casino will only spend a little money.
So it's only natural if someone dares to take risks with quite a lot of money even though the prizes are relatively lower, friend.
But after all, gambling is something that is uncertain and the end result can change and go against logic, so we must always be careful.

Off course low odds are perceived to be the sure odds and this is why so many gambler rely on low odds to stake a high amount, the reason why that reward are few and to get a tangible amount a stake need to be extremely high.

So I don't blame the ops in the thread entirely because he takes such a huge amount with the hope of winning and for sure 14k is a big win for just a bet if his luck hard worked, but unfortunately, he was a dick and hard to lose the entire amounts this is why many have suggested he stake a lower amount.

[Fredomago]

Luck is indeed a solid main factor which is needed when it comes to gambling because no matter how big is your winning chance as long there's a slim chance of lossing then there's always a chance for it to be hit up.

We know that gambling odds could really be something that have higher winning rate but if you arent that lucky enough then you would eventually lose no matter how small the chances are.
This is why going all in or having that kind of behavior on making that huge bets on low odds then it would be something a risks needs to take but since you are dealing with gambling then it would really be just that normal and you should be wary about the consequences when it comes to losing huge money if the outcome would turn out to be different on what you do expect.

By remembering that luck is the main factor needed in gambling, we shouldn't have to try hard to win the game and just have fun. By avoiding it, we will not try to make big bets because it is not worth the risk we will get, especially in gambling there is no guarantee we can win. So we won't be gamblers who have lost a lot of money because we can avoid using big money to gamble. We can also avoid the feeling we will get after knowing we suffered that big defeat because it can bring great disappointment and frustration. And also, we can get addicted to gambling because we want to recover that loss.

Not worthy if you will really assess and be practical, taking a big bet with a small potential profits I'm sure there are gamblers who really play that type of strategy but like what you said without luck anything can happen, worse case is to lose everything you've got as you are inside gambling and risk is always a partner in each bets that you take.

Better to play for fun and fill that lust for gambling in a budget capital and not to aim for profitable rewards.

It's a bonus if you will win, but if you lose, make sure that the amount you use is the amount you are willing to forget and let go.

[wiss19]

In the case of the ops mentioned in this thread, it's clear that the gambler was out of luck and risked too much on the bet due to the low odds and thinking that it was a sure odds for him to stake such an amount even though the reward seems extremely low.

This is done because low odds can mostly give a greater percentage of wins.
The house is the winner in gambling, so if in a bet someone has a bigger winning percentage, the house will further reduce the profit opportunities so that when many gamblers win, the casino will only spend a little money.
So it's only natural if someone dares to take risks with quite a lot of money even though the prizes are relatively lower, friend.
But after all, gambling is something that is uncertain and the end result can change and go against logic, so we must always be careful.

I understand that what you are trying to say is just an assumption and there is no reality in that. If it's trusted and old, a casino doesn't modify its algorithm for each gambler even if some gamblers have won big amounts already. There are thousands of players playing at the same time, how can they possibly do that for so many gamblers?

It's only the house edge that hits some gamblers really hard, like in this case, the guy has bet over a million dollars with very small odds probably only to win a few thousand dollars but the house edge had hit him really hard and he lost the bet even with very low odds.

[Fivestar4everMVP]

In the case of the ops mentioned in this thread, it's clear that the gambler was out of luck and risked too much on the bet due to the low odds and thinking that it was a sure odds for him to stake such an amount even though the reward seems extremely low.

This is done because low odds can mostly give a greater percentage of wins.
The house is the winner in gambling, so if in a bet someone has a bigger winning percentage, the house will further reduce the profit opportunities so that when many gamblers win, the casino will only spend a little money.
So it's only natural if someone dares to take risks with quite a lot of money even though the prizes are relatively lower, friend.
But after all, gambling is something that is uncertain and the end result can change and go against logic, so we must always be careful.

I understand that what you are trying to say is just an assumption and there is no reality in that. If it's trusted and old, a casino doesn't modify its algorithm for each gambler even if some gamblers have won big amounts already. There are thousands of players playing at the same time, how can they possibly do that for so many gamblers?

It's only the house edge that hits some gamblers really hard, like in this case, the guy has bet over a million dollars with very small odds probably only to win a few thousand dollars but the house edge had hit him really hard and he lost the bet even with very low odds.

The best and only thing I think a casino would do Is to limit a user who they feel has won, or is winning too much, this will either place the user to a limit amount of money he or she can bet on the go on each sports.
Or it could completely not allow the user to bet on some sports categories and activities, it is practically, and maybe technically not possible to modify algorithm for individual players respectively,

[Dr.Bitcoin_Strange]

so there's no need to be too greedy for betting large amounts at small odd.
and some people here must think that the guy bet 1.4 million dollars just because of greed.

Greed, manipulation, believing way too much in the team—what else could it be?

Well, it just circles around one thing, which I think he believed way too much in and also greed in play. In every aspect of gambling, it is good for someone to also apply wisdom, like not gambling with all the money; he would have divided it into two and played the game with different options. But anyway, they say, "gamble with what you can afford to risk," so I believe he was only able to risk $1.4 million, and it suggest he has more.

[Wiwo]

so there's no need to be too greedy for betting large amounts at small odd.
and some people here must think that the guy bet 1.4 million dollars just because of greed.

Greed, manipulation, believing way too much in the team—what else could it be?

Well, it just circles around one thing, which I think he believed way too much in and also greed in play. In every aspect of gambling, it is good for someone to also apply wisdom, like not gambling with all the money; he would have divided it into two and played the game with different options. But anyway, they say, "gamble with what you can afford to risk," so I believe he was only able to risk $1.4 million, and it suggest he has more.

For a person with such balance to stake with I don't think greed will have the essential part of his decision making especially in this situation where the potential winning amount is low because it's insane for someone to risk a whole 1.04 million dollars on a potential winning of 14 thousand dollars of rewards it makes no sense.

But then they did have already been done and ops lost everything in the process and we are all here learning from his mistake, and what I think affected the ops is overconfidence in the team and sure odds.

[Fatunad]

Luck is indeed a solid main factor which is needed when it comes to gambling because no matter how big is your winning chance as long there's a slim chance of lossing then there's always a chance for it to be hit up.

We know that gambling odds could really be something that have higher winning rate but if you arent that lucky enough then you would eventually lose no matter how small the chances are.
This is why going all in or having that kind of behavior on making that huge bets on low odds then it would be something a risks needs to take but since you are dealing with gambling then it would really be just that normal and you should be wary about the consequences when it comes to losing huge money if the outcome would turn out to be different on what you do expect.

By remembering that luck is the main factor needed in gambling, we shouldn't have to try hard to win the game and just have fun. By avoiding it, we will not try to make big bets because it is not worth the risk we will get, especially in gambling there is no guarantee we can win. So we won't be gamblers who have lost a lot of money because we can avoid using big money to gamble. We can also avoid the feeling we will get after knowing we suffered that big defeat because it can bring great disappointment and frustration. And also, we can get addicted to gambling because we want to recover that loss.

Not worthy if you will really assess and be practical, taking a big bet with a small potential profits I'm sure there are gamblers who really play that type of strategy but like what you said without luck anything can happen, worse case is to lose everything you've got as you are inside gambling and risk is always a partner in each bets that you take.

Better to play for fun and fill that lust for gambling in a budget capital and not to aim for profitable rewards.

It's a bonus if you will win, but if you lose, make sure that the amount you use is the amount you are willing to forget and let go.

Just to make out some comparison if we do speak about numbers then it would really be that no sense if you would be betting up millions just for you to earn some few dollars.I wouldnt really be having the guts or have the courage on betting up that huge on which not all people would be able to accumulate their entire life and now you do gamble it out just because you do believe its a sure win? There's no such thing about
sure win on g ambling. You cant really be able to pull off or on having that one sided game, there's always that certain risks no matter how slim it it, you wont know if you would be able to hit up.
This is what i dont really like on going all in bets no matter how small the odds is, it isnt really that worthy at all on making huge bet to get some peanuts.

1.01 or less doesnt guarantee sure win but if you do have the money which you are willing to burn then its up to you. Just dont expect much because tables could turn upside down which it would
really be resulting into your bet to be thrown into waters. $1.4M isnt an amount that you could just simply ignore and sleep that lost because it would really be surely be keeping on hunting
you out specially if this one is a pooled funds from different bettors but if its solely for you the that lessens up the problem at least.

[Dr.Bitcoin_Strange]

For a person with such balance to stake with I don't think greed will have the essential part of his decision making especially in this situation where the potential winning amount is low because it's insane for someone to risk a whole 1.04 million dollars on a potential winning of 14 thousand dollars of rewards it makes no sense.

But then they did have already been done and ops lost everything in the process and we are all here learning from his mistake, and what I think affected the ops is overconfidence in the team and sure odds.

LoL, sure odd or overconfidence is what it is then. That was why I said he believed way too much in the team.

@wiwo, Indeed, we are also here learning from OP's mistake, but don't be surprised that some people will still take such a risk after reading others mistakes; that's just human nature, full of some deadly decisions that the results are always awful 😓 at thet time 

But there is always this saying that "you can't give more than you have." For example, if the OP had like $10 million and decided to gamble off the $1.4 million, then he probably had more to gamble with, so despite his loss, he may not be affected.

But I still always wonder how people can get so overconfident about those sure odds stuff. I do gamble, but not that heavily, and mostly on sports. Even if I get some sure odds that my friends would want me to gamble with a huge amount, after staking the amount I can afford to lose, I will still rearrange the game and change some options (I don't know if you understand what I mean by that). and still stake again so that if the sure odd did bust, the one I changed options for, sometimes doesn't burst.

[Wiwo]

@wiwo, Indeed, we are also here learning from OP's mistake, but don't be surprised that some people will still take such a risk after reading others mistakes; that's just human nature, full of some deadly decisions that the results are always awful 😓 at thet time 

Yes, we have learned a lot from ops mistakes and from the various comments we read in this thread have helped to further broaden our understanding of the entire situation but then we all should also know that where there is no risk, there won't be a reward and gambling is one hell of risk ventures at that we must expect to see more risks takers in the future regardless of what lesson this current incident may have thought us.

But the goal should be to take the minimal risk that could give a high return not to take an over-boarding risk such as this gambler took because he went too extreme in this situation to have staked 1.04 million dollars.