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

[o48o]

There's no way to verify or would really be able to know on someones financial capacity on just looking into the lost amount that he had but since we are talking millions on here then we can already assume out
that this gambler is really that a rich person because no one would be sitting into the poverty or average bettor or gambler line if someone do able to make out such huge bet. It did really just that turns out that it is really that a losing bet and the amount is significant and this is why it is really just that making that kind of noise and this is something which is really just that normal.

Technically not, but you can just use reasoning in this: assuming that bettor had average iq, they would have probably understood that they can only win 14k by betting that, and the risk of losing is real. And even if that bettor only had that $1.4 million and nothing more, they wouldn't be need for more fast cash as they could easily lend from that $1.4M they already had in cash. And rest of the money would just make that $14k back just with bank interest rate.

That in mind, being rich ≠ being smart, even though some seem to think that. That isn't even correlating with self-made rich people. Because getting rich is very much similar to gambing; you need to take risks and be at the right time at the right place. And in most cases, knowing right people helps. Being smart is just one way to get rich, there are so many more ways.

[Odusko]

There's no way to verify or would really be able to know on someones financial capacity on just looking into the lost amount that he had but since we are talking millions on here then we can already assume out
that this gambler is really that a rich person because no one would be sitting into the poverty or average bettor or gambler line if someone do able to make out such huge bet. It did really just that turns out that it is really that a losing bet and the amount is significant and this is why it is really just that making that kind of noise and this is something which is really just that normal.

Technically not, but you can just use reasoning in this: assuming that bettor had average iq, they would have probably understood that they can only win 14k by betting that, and the risk of losing is real. And even if that bettor only had that $1.4 million and nothing more, they wouldn't be need for more fast cash as they could easily lend from that $1.4M they already had in cash. And rest of the money would just make that $14k back just with bank interest rate.

That in mind, being rich ≠ being smart, even though some seem to think that. That isn't even correlating with self-made rich people. Because getting rich is very much similar to gambing; you need to take risks and be at the right time at the right place. And in most cases, knowing right people helps. Being smart is just one way to get rich, there are so many more ways.

Technicality is what we are using right now to assume the obvious possibility around this situation, but still if you look closely we can tell that the gamblers is quite Smart but it just that, luck was not on his side to have won the bet, since he already taken the highest form of risk and in such a low odds game, hard it been he won, the risk could have been Worth it, but just as have always said that for that gambler to be able to stake such an amount of 14 million plus on a single bet, it means that he have won such amount in the past or even higher amount than that, and also there is a possibility that he have recovered from that lose already
Talking about being rich and risk, just as o48o pointed out, there is no way someone can make any positive progress in whatever thing without taking risk and as a human, life itself is a risk and there can never be reward if there is no risk, this is what we should understand,  life is a journey and at that, for us to make that achievements happens we gat to involve in one risk or the other this is what determines us as a people and what classes we occupied in the society., 1.4 million may be a whole lot of money to most people, but also not so much money to a gambler who may have made up to 7 million in single bet in the past, he may be a whale or whatever, and will recover along the line.

[Fivestar4everMVP]

It's obvious that money is not the issue of this guy, regardless, he should have kept that adrenaline in check.

I wouldn't be so sure here. Yes, he did have $1.4m available to gamble, but that doesn't mean he could afford to lose it.
People with millions to toss around would unlikely bother making a x1.01 odds bet. The guy was looking for a near-certain win, meaning he wanted/needed money but wasn't willing to accept any higher risk.
I really doubt he was a multi-millionaire. More likely he used money that was meant for something else. At least that's what I'm guessing.

Totally agree with you, and this is exactly the same thing i always tried to point out each time I come across comments on this thread that tries to paint the gambler in question as someone who must have alot of money and can definitely afford losing this huge sum amount of money.

On one of my other comments, I did mention that I highly doubt that this gambler would still be alive by now having lost such and amount which every indication pointing out shows that this money might be his or her life savings.

And if all of this assumptions be true, then it is really unfortunate how foolish the gambler was by not wanting to lose money but still took a risk with such an amount of money, lesson for all of us to learn though.

[pawanjain]

Technically not, but you can just use reasoning in this: assuming that bettor had average iq, they would have probably understood that they can only win 14k by betting that, and the risk of losing is real. And even if that bettor only had that $1.4 million and nothing more, they wouldn't be need for more fast cash as they could easily lend from that $1.4M they already had in cash. And rest of the money would just make that $14k back just with bank interest rate.

That in mind, being rich ≠ being smart, even though some seem to think that. That isn't even correlating with self-made rich people. Because getting rich is very much similar to gambing; you need to take risks and be at the right time at the right place. And in most cases, knowing right people helps. Being smart is just one way to get rich, there are so many more ways.

That is true in some cases but in most cases, the rich are smarter and that is the reason why they became rich at first place.
At the same time, I have also seen some cases where people got rich but were not smart enough to handle their wealth well.
In OPs case though, I hope he was rich because if he just wanted to get $14k of profits then he would have easily got it through other investment instrument.
It's just a 10% return on investment which is achievable in a short term even in the stock market.

[Fivestar4everMVP]

Technically not, but you can just use reasoning in this: assuming that bettor had average iq, they would have probably understood that they can only win 14k by betting that, and the risk of losing is real. And even if that bettor only had that $1.4 million and nothing more, they wouldn't be need for more fast cash as they could easily lend from that $1.4M they already had in cash. And rest of the money would just make that $14k back just with bank interest rate.

That in mind, being rich ≠ being smart, even though some seem to think that. That isn't even correlating with self-made rich people. Because getting rich is very much similar to gambing; you need to take risks and be at the right time at the right place. And in most cases, knowing right people helps. Being smart is just one way to get rich, there are so many more ways.

That is true in some cases but in most cases, the rich are smarter and that is the reason why they became rich at first place.
At the same time, I have also seen some cases where people got rich but were not smart enough to handle their wealth well.
In OPs case though, I hope he was rich because if he just wanted to get $14k of profits then he would have easily got it through other investment instrument.
It's just a 10% return on investment which is achievable in a short term even in the stock market.

There are several project in crypto where one can earn up to 50 percent APY on staking, and though it's a bit risky at times depending on the project one chooses, it is still far and much better than risking such an amount of money on betting where if one loses, he or she gets absolutely nothing back, not even a compensation from the casino for losing a huge sum of money.

Anyways, to every man and his own, let me say that it's possible that the gambler had money quite alright, but he or she was not financially educated, and this possibly the reason why he couldn't think or find any other way of making profit off his $1.4 million aside from risking it in a bet.

[mak013]

Technically not, but you can just use reasoning in this: assuming that bettor had average iq, they would have probably understood that they can only win 14k by betting that, and the risk of losing is real. And even if that bettor only had that $1.4 million and nothing more, they wouldn't be need for more fast cash as they could easily lend from that $1.4M they already had in cash. And rest of the money would just make that $14k back just with bank interest rate.

That in mind, being rich ≠ being smart, even though some seem to think that. That isn't even correlating with self-made rich people. Because getting rich is very much similar to gambing; you need to take risks and be at the right time at the right place. And in most cases, knowing right people helps. Being smart is just one way to get rich, there are so many more ways.

That is true in some cases but in most cases, the rich are smarter and that is the reason why they became rich at first place.
At the same time, I have also seen some cases where people got rich but were not smart enough to handle their wealth well.
In OPs case though, I hope he was rich because if he just wanted to get $14k of profits then he would have easily got it through other investment instrument.
It's just a 10% return on investment which is achievable in a short term even in the stock market.

If he has an opportunity to make 10 such bets per day, he can get 10% profit per day. I don`t think that you can get such profit with such risk anywhere. It is possible that he make some bets for a year and we just don`t know about it. In such situation he easily can lose several bets. I looked odds today - it is not a problem to get 10 bets. A problem is to get $1mln. But if we increase our bet every day for 10%(yesterday win) after the month of betting we increase our deposit 17 times.
PS. 121 days without losing would be enough to increase our deposit from $100 to $10.000.000.
PPS. I calculated the odd 1.10. With the odd 1.05 it will take 236 days. And with the odd 1.01 you`ll get only $3.780. Anyway it can be interesting strategy to make everyday few bets with small odds. May be i`ll try it soon.

[Pandu Geddon]

Anyways, to every man and his own, let me say that it's possible that the gambler had money quite alright, but he or she was not financially educated, and this possibly the reason why he couldn't think or find any other way of making profit off his $1.4 million aside from risking it in a bet.

let's say the gambler has enough money to bet and what is bet and lost is the limit of his ability. so there will be no problem with what happened. he is a gambler who I think has his strategy. it is full of risks but he does it.
at least he should be aware that if he loses he cannot claim any compensation. but if he wins his bet, even though it is small if he consistently bets with his strategy it is possible that he can still make a profit.
I believe he is a gambler who dares to take risks and is oriented towards winning. whether after the loss he still gambles like that or changes his strategy.

[Silberman]

There are several project in crypto where one can earn up to 50 percent APY on staking, and though it's a bit risky at times depending on the project one chooses, it is still far and much better than risking such an amount of money on betting where if one loses, he or she gets absolutely nothing back, not even a compensation from the casino for losing a huge sum of money.

Anyways, to every man and his own, let me say that it's possible that the gambler had money quite alright, but he or she was not financially educated, and this possibly the reason why he couldn't think or find any other way of making profit off his $1.4 million aside from risking it in a bet.

The person on the story of the OP was just looking for some easy profits, as it is unlikely you are going to lose such a bet when the outcome of a match seems to be decided already, however such kind of comebacks happen all the time, making such bets anything but a sure thing, with this in mind, it is obvious to me this gambler has some issues as betting so much money in a single match regardless of their level of wealth is not healthy, and it is even possible they lost even more money on subsequent bets as they tried to recover their money.

[LFC_Bitcoin]

That sucks, I’m not sure what type of gambling tactics that is though, to risk so much for such a small win.

I guess it could be some random degen or even an attempt to launder money which clearly backfired. Nice win for the bookie at the players expense though.

[Mahanton]

Technically not, but you can just use reasoning in this: assuming that bettor had average iq, they would have probably understood that they can only win 14k by betting that, and the risk of losing is real. And even if that bettor only had that $1.4 million and nothing more, they wouldn't be need for more fast cash as they could easily lend from that $1.4M they already had in cash. And rest of the money would just make that $14k back just with bank interest rate.

That in mind, being rich ≠ being smart, even though some seem to think that. That isn't even correlating with self-made rich people. Because getting rich is very much similar to gambing; you need to take risks and be at the right time at the right place. And in most cases, knowing right people helps. Being smart is just one way to get rich, there are so many more ways.

That is true in some cases but in most cases, the rich are smarter and that is the reason why they became rich at first place.
At the same time, I have also seen some cases where people got rich but were not smart enough to handle their wealth well.
In OPs case though, I hope he was rich because if he just wanted to get $14k of profits then he would have easily got it through other investment instrument.
It's just a 10% return on investment which is achievable in a short term even in the stock market.

If he has an opportunity to make 10 such bets per day, he can get 10% profit per day. I don`t think that you can get such profit with such risk anywhere. It is possible that he make some bets for a year and we just don`t know about it. In such situation he easily can lose several bets. I looked odds today - it is not a problem to get 10 bets. A problem is to get $1mln. But if we increase our bet every day for 10%(yesterday win) after the month of betting we increase our deposit 17 times.
PS. 121 days without losing would be enough to increase our deposit from $100 to $10.000.000.
PPS. I calculated the odd 1.10. With the odd 1.05 it will take 236 days. And with the odd 1.01 you`ll get only $3.780. Anyway it can be interesting strategy to make everyday few bets with small odds. May be i`ll try it soon.

It wont really be worth on the risks i must say on which if the amount involved would really be something like this then it would really be a disaster if it turns out to be a loss. If we do consider on the amount
then i wont really be that doing such suicide on having that kind of bet using up 1.01x odds even if we do say that you are tending to find 10% gain for a day and having this kind of method then
i would really be saying that this kind of method would really be that something too risky and there's always that chance that you could be busting up your bet just like on this one. As long that the bet
wont really be having that 0% hit chance then there's always that situation that could hit up that hard in speaking about chances on such bet.

If you are still not out of your mind then you would really be that definitely be having this kind of consideration but if you are someone whose rich and have tons of money
then you wouldnt really be bothered with this kind of option but actually its not really that something that you could really be able to make yourself having
this kind of betting behavior knowing that risk reward ratio is never been that balanced.

[mak013]

If he has an opportunity to make 10 such bets per day, he can get 10% profit per day. I don`t think that you can get such profit with such risk anywhere. It is possible that he make some bets for a year and we just don`t know about it. In such situation he easily can lose several bets. I looked odds today - it is not a problem to get 10 bets. A problem is to get $1mln. But if we increase our bet every day for 10%(yesterday win) after the month of betting we increase our deposit 17 times.
PS. 121 days without losing would be enough to increase our deposit from $100 to $10.000.000.
PPS. I calculated the odd 1.10. With the odd 1.05 it will take 236 days. And with the odd 1.01 you`ll get only $3.780. Anyway it can be interesting strategy to make everyday few bets with small odds. May be i`ll try it soon.

It wont really be worth on the risks i must say on which if the amount involved would really be something like this then it would really be a disaster if it turns out to be a loss. If we do consider on the amount
then i wont really be that doing such suicide on having that kind of bet using up 1.01x odds even if we do say that you are tending to find 10% gain for a day and having this kind of method then
i would really be saying that this kind of method would really be that something too risky and there's always that chance that you could be busting up your bet just like on this one. As long that the bet
wont really be having that 0% hit chance then there's always that situation that could hit up that hard in speaking about chances on such bet.

If you are still not out of your mind then you would really be that definitely be having this kind of consideration but if you are someone whose rich and have tons of money
then you wouldnt really be bothered with this kind of option but actually its not really that something that you could really be able to make yourself having
this kind of betting behavior knowing that risk reward ratio is never been that balanced.

I looked live bets 20 minutes ago and find 5 football matches with odds 1.03-1.15, now 4 of them ended and it seems that the last will end with the victory. I don`t have enough time now, but it may be an interesting experience - to try to make at least 10 bets per day with the start bank $100. As for me - here the main problem can be greed - trying to get more money catching higher odds.

1.01 is too small odd (after calculating) for single bet, but if you make 10 such bets - you can get $1mln for 10 days. I want to test it

[pawanjain]

If he has an opportunity to make 10 such bets per day, he can get 10% profit per day. I don`t think that you can get such profit with such risk anywhere. It is possible that he make some bets for a year and we just don`t know about it. In such situation he easily can lose several bets. I looked odds today - it is not a problem to get 10 bets. A problem is to get $1mln. But if we increase our bet every day for 10%(yesterday win) after the month of betting we increase our deposit 17 times.
PS. 121 days without losing would be enough to increase our deposit from $100 to $10.000.000.
PPS. I calculated the odd 1.10. With the odd 1.05 it will take 236 days. And with the odd 1.01 you`ll get only $3.780. Anyway it can be interesting strategy to make everyday few bets with small odds. May be i`ll try it soon.

Yeah right, it's easy to make such returns in the stock market on daily basis if done right.
This also raises the suspicion of money laundering as to why would anybody take such a huge risk just to win a small amount.
But anyway, I hope people are aware of this fact that even with 1.01 odds, we can lose all what we have.

[o48o]

Technically not, but you can just use reasoning in this: assuming that bettor had average iq, they would have probably understood that they can only win 14k by betting that, and the risk of losing is real. And even if that bettor only had that $1.4 million and nothing more, they wouldn't be need for more fast cash as they could easily lend from that $1.4M they already had in cash. And rest of the money would just make that $14k back just with bank interest rate.

That in mind, being rich ≠ being smart, even though some seem to think that. That isn't even correlating with self-made rich people. Because getting rich is very much similar to gambing; you need to take risks and be at the right time at the right place. And in most cases, knowing right people helps. Being smart is just one way to get rich, there are so many more ways.

That is true in some cases but in most cases, the rich are smarter and that is the reason why they became rich at first place.
At the same time, I have also seen some cases where people got rich but were not smart enough to handle their wealth well.
In OPs case though, I hope he was rich because if he just wanted to get $14k of profits then he would have easily got it through other investment instrument.
It's just a 10% return on investment which is achievable in a short term even in the stock market.

I would like to see data you are basing this on, because data i have seen seems to indicate that what you are saying isn't true.

Richness isn't everyone's goal as many smart people are pursuing other meaningful life goals. Meanwhile many rich people even inherit their wealth so they didn't "become" rich, but my data wasn't even pointing to that.

Still, in op's case, gambler wasn't smart however rich he/she was if the goal was to win with smallest possible odds.