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

[Odusko]

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.

No you can't, not that fast, but that's only because in this way you would get it by risking whole initial bet. And by doing that 10 times in a row you also increase your changes for losing to that 10%. So you might as well do one 1.1 bet and outcome and odds to win would be identical.

And with those safer ways like with (legit) banks that offer annual interest; they have safeguards in place as they won't be gambling with your money.

Yes, maths says so. But after calculation i watched some matches with odds between 1.03 and 1.1. All the teams won their games but i can say that without some analyze i can`t say that it looks like guaranteed victory.
PS. I will try later with some small enough some and will try to calculate everything. I think it would be interesting.

Alot have to be considered before making such a decision to bet on low odds for a year cycle hoping to accumulate either 10% profits or anything close to that as in profits, and we should also avoid making it look as if because a game have low odds that increases the tendency of their winning, sometimes the case is just different and you won't know what happened the bet is already list , just like in the case with the gambler in this discussion, he made such a wooping stake because he believes that with the low odds he may be having a sure predictions not knowing that he gona lose regardless, and that is what have him the hope and motivation to stake such huge amount of money on that bet, if going for low odds make you win, then every sport bettors will always be on the winning side since basically they will just be picking all the games with low odds and by the time the accumulate at least 10-20 games with such low odds, they will be in a better position to win the bet, but it not so and that doesn't work all the time.
Although using such methods may slightly increase your chances of winning but not giving you just a straight winning as you guy's may think it will, games are most time based on luck and once you have your lucky day no matter how poor your analysis of the team are and your games selected, you eventually will still win regardless.

[EarnOnVictor]

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.

No you can't, not that fast, but that's only because in this way you would get it by risking whole initial bet. And by doing that 10 times in a row you also increase your changes for losing to that 10%. So you might as well do one 1.1 bet and outcome and odds to win would be identical.

And with those safer ways like with (legit) banks that offer annual interest; they have safeguards in place as they won't be gambling with your money.

Yes, maths says so. But after calculation i watched some matches with odds between 1.03 and 1.1. All the teams won their games but i can say that without some analyze i can`t say that it looks like guaranteed victory.
PS. I will try later with some small enough some and will try to calculate everything. I think it would be interesting.

Indeed maths says so but the reality may be different and this has lured many into deception and the end is always a regret. My concern here is that it is interesting if one has that low odds with a higher chance of winning, but are people considering the possibility of losing as well? An unforeseen circumstance can happen with a high chance of winning, that is why it's smart to also consider the management of the risk we are talking about. I don't see anything smart in going for the high odds with a huge risk, it will take a whole lot of time and tries before the gambler will recover such risk, that's if the subsequent bets are all positive winning streaks for him. How encouraging is that? For this, this kind of risk has no other interpretation but senseless, betting your money on what will take you more than 100 times of similar betting to recover your money back can never be wise.

[mak013]

Yes, maths says so. But after calculation i watched some matches with odds between 1.03 and 1.1. All the teams won their games but i can say that without some analyze i can`t say that it looks like guaranteed victory.
PS. I will try later with some small enough some and will try to calculate everything. I think it would be interesting.

Alot have to be considered before making such a decision to bet on low odds for a year cycle hoping to accumulate either 10% profits or anything close to that as in profits, and we should also avoid making it look as if because a game have low odds that increases the tendency of their winning, sometimes the case is just different and you won't know what happened the bet is already list , just like in the case with the gambler in this discussion, he made such a wooping stake because he believes that with the low odds he may be having a sure predictions not knowing that he gona lose regardless, and that is what have him the hope and motivation to stake such huge amount of money on that bet, if going for low odds make you win, then every sport bettors will always be on the winning side since basically they will just be picking all the games with low odds and by the time the accumulate at least 10-20 games with such low odds, they will be in a better position to win the bet, but it not so and that doesn't work all the time.
Although using such methods may slightly increase your chances of winning but not giving you just a straight winning as you guy's may think it will, games are most time based on luck and once you have your lucky day no matter how poor your analysis of the team are and your games selected, you eventually will still win regardless.

I will test it by myself. I`m long enough in sport betting, may be if will help me. Anyway i think that it can be a strategy and i`ll try it with some small sum. I don`t want to bet all the matches with such odds, but i think that i can find 10 bets per day that will be good enough for me.

Yes, maths says so. But after calculation i watched some matches with odds between 1.03 and 1.1. All the teams won their games but i can say that without some analyze i can`t say that it looks like guaranteed victory.
PS. I will try later with some small enough some and will try to calculate everything. I think it would be interesting.

Indeed maths says so but the reality may be different and this has lured many into deception and the end is always a regret. My concern here is that it is interesting if one has that low odds with a higher chance of winning, but are people considering the possibility of losing as well? An unforeseen circumstance can happen with a high chance of winning, that is why it's smart to also consider the management of the risk we are talking about. I don't see anything smart in going for the high odds with a huge risk, it will take a whole lot of time and tries before the gambler will recover such risk, that's if the subsequent bets are all positive winning streaks for him. How encouraging is that? For this, this kind of risk has no other interpretation but senseless, betting your money on what will take you more than 100 times of similar betting to recover your money back can never be wise.

Last several years i was betting only high odds, never less than 2 and the main part of the odds were higher than 3.5. And it works. I don`t remember even a month with negative balance. So i want to try another way. It is not about profit. It is just an experiment that interesting for me. This thread gave me some information to think about.

[NAPK1NS_RA3]

I've seen many 1.01 odds bets lose recently. Specifically football (soccer) matches ending 0-0 when the odds for over 0.5 goals is 1.01. I don't see a point of placing these other than chasing VIP tiers and bonuses.

[pawel7777]

I've seen many 1.01 odds bets lose recently. Specifically football (soccer) matches ending 0-0 when the odds for over 0.5 goals is 1.01. I don't see a point of placing these other than chasing VIP tiers and bonuses.

True, but if you're willing to risk a lot of money, then the profit, coupled with high probability of win, can become quite attractive.
For the $1.4m the guy in the OP had bet, he could've gotten $14,000 win in a space of probably few minutes. I'd be guessing he had done it at least once or twice before, was successful and got overly confident.

This topic was started in Jan 2023, maybe it's time just to let it die. I'm sure there were plenty of other bad losses since then we could comment on instead.

[Z_MBFM]

I've seen many 1.01 odds bets lose recently. Specifically football (soccer) matches ending 0-0 when the odds for over 0.5 goals is 1.01. I don't see a point of placing these other than chasing VIP tiers and bonuses.

Any Odd can be a loss in cricket or football sports as anything can happen at any time and no team's win can ever be guaranteed here. Every game of gambling has such risks, not just in sports. this is why you should not gamble any amount that you cannot afford to lose.  Because sometimes despite your confidence you may lose the bet. as in op's shared history. $1.4m is no small amount. so such an amount should never be placed in a single bet.

[OgNasty]

I know I’ve commented on this before but it’s actually crazy to think about. Had that gambler put the money in a savings account he could’ve earned so much more than 1%. I couldn’t imagine taking such a huge risk for such a low reward. This is the kind of thing that makes people say that a fool and their money are quickly parted.

[delfastTions]

I know I’ve commented on this before but it’s actually crazy to think about. Had that gambler put the money in a savings account he could’ve earned so much more than 1%. I couldn’t imagine taking such a huge risk for such a low reward. This is the kind of thing that makes people say that a fool and their money are quickly parted.

But just getting 1% of a million dollars from a bank deposit is very boring and uninteresting. And this is probably a common practice for housewives, well, of course, who have that million. And besides, you still have to wait some time, or even a whole year or half a year. And here, even though it's 1%, it's fast, you don't have to wait long, and besides, the emotions you get from such an event will be, in my opinion, outrageous. Well, maybe the player wanted to experience such outrageous emotions. And it looks like he got them in full. So I wouldn't particularly scold him or accuse him of complete stupidity.

[TopTort777]

I know I’ve commented on this before but it’s actually crazy to think about. Had that gambler put the money in a savings account he could’ve earned so much more than 1%. I couldn’t imagine taking such a huge risk for such a low reward. This is the kind of thing that makes people say that a fool and their money are quickly parted.

But just getting 1% of a million dollars from a bank deposit is very boring and uninteresting. And this is probably a common practice for housewives, well, of course, who have that million. And besides, you still have to wait some time, or even a whole year or half a year. And here, even though it's 1%, it's fast, you don't have to wait long, and besides, the emotions you get from such an event will be, in my opinion, outrageous. Well, maybe the player wanted to experience such outrageous emotions. And it looks like he got them in full. So I wouldn't particularly scold him or accuse him of complete stupidity.

A bet he will never forget Imho that guy just won a special place among list of people who have taken stupid decisions. The topic is already rather old, but people keep on discussing his super bet. In addition to you saying that 1% from bank deposit is boring, when 1% from betting is fast money, if he was betting in online casino then that guy has also levelled his account and got some level-up bonus probably, as well as cashback. So its not just 1% deposit vs 1% gambling profit. Its more benefits for him. And a reward fail or a year

[mak013]

I know I’ve commented on this before but it’s actually crazy to think about. Had that gambler put the money in a savings account he could’ve earned so much more than 1%. I couldn’t imagine taking such a huge risk for such a low reward. This is the kind of thing that makes people say that a fool and their money are quickly parted.

He could get more that 1% but for a year hold. Here he could get 1% for 2 hours. It seems that the he thought that risk was ok for fast money. Ten bets per day can give you 10% daily. It seems much more interesting than savings account. But here we see his mistake, i can only hope that it was a part of strategy and not all his money.

[Fredomago]

I've seen many 1.01 odds bets lose recently. Specifically football (soccer) matches ending 0-0 when the odds for over 0.5 goals is 1.01. I don't see a point of placing these other than chasing VIP tiers and bonuses.

Any Odd can be a loss in cricket or football sports as anything can happen at any time and no team's win can ever be guaranteed here. Every game of gambling has such risks, not just in sports. this is why you should not gamble any amount that you cannot afford to lose.  Because sometimes despite your confidence you may lose the bet. as in op's shared history. $1.4m is no small amount. so such an amount should never be placed in a single bet.

In general there's no guarantee whatever types of gambling you'll involve even how low the odd the fact that you are inside gambling can lead you to lose your money, and such amount with OP's post that's something really teach you a hard lesson not to be over confident with your bet, though anything can happen even how good you do your research and how deep you assess before putting your bet, inside gambling upset will take place.

[dwyane36]

I know I’ve commented on this before but it’s actually crazy to think about. Had that gambler put the money in a savings account he could’ve earned so much more than 1%. I couldn’t imagine taking such a huge risk for such a low reward. This is the kind of thing that makes people say that a fool and their money are quickly parted.

But just getting 1% of a million dollars from a bank deposit is very boring and uninteresting. And this is probably a common practice for housewives, well, of course, who have that million. And besides, you still have to wait some time, or even a whole year or half a year. And here, even though it's 1%, it's fast, you don't have to wait long, and besides, the emotions you get from such an event will be, in my opinion, outrageous. Well, maybe the player wanted to experience such outrageous emotions. And it looks like he got them in full. So I wouldn't particularly scold him or accuse him of complete stupidity.

In my mind, such a huge bet could only be made by a multimillionaire who fully realized the risks and for whom losing $1,4 million was not a significant loss. In other words, I hope he did it just for fun, and this loss didn't affect his life. But in all other cases, it was as reckless as possible, especially if the $1,4 million was all of his savings.

[virasog]

I've seen many 1.01 odds bets lose recently. Specifically football (soccer) matches ending 0-0 when the odds for over 0.5 goals is 1.01. I don't see a point of placing these other than chasing VIP tiers and bonuses.

Any Odd can be a loss in cricket or football sports as anything can happen at any time and no team's win can ever be guaranteed here. Every game of gambling has such risks, not just in sports. this is why you should not gamble any amount that you cannot afford to lose.  Because sometimes despite your confidence you may lose the bet. as in op's shared history. $1.4m is no small amount. so such an amount should never be placed in a single bet.

In general there's no guarantee whatever types of gambling you'll involve even how low the odd the fact that you are inside gambling can lead you to lose your money, and such amount with OP's post that's something really teach you a hard lesson not to be over confident with your bet, though anything can happen even how good you do your research and how deep you assess before putting your bet, inside gambling upset will take place.

Gambling is all about risking money so when you are risking your money, it is better to analysis the return on that risk because if the return is so less with too little odds then why risk on that bet ?

When the bet is too low the gambler invest more money so that when they win they get some good amount when they win, so this also means that lower bet will disturb your portfolio management because you will risk more and you will have the confident that you will win those bets but sometimes the unexpected happens as told by the OP.

[Fivestar4everMVP]

I know I’ve commented on this before but it’s actually crazy to think about. Had that gambler put the money in a savings account he could’ve earned so much more than 1%. I couldn’t imagine taking such a huge risk for such a low reward. This is the kind of thing that makes people say that a fool and their money are quickly parted.

But just getting 1% of a million dollars from a bank deposit is very boring and uninteresting. And this is probably a common practice for housewives, well, of course, who have that million. And besides, you still have to wait some time, or even a whole year or half a year. And here, even though it's 1%, it's fast, you don't have to wait long, and besides, the emotions you get from such an event will be, in my opinion, outrageous. Well, maybe the player wanted to experience such outrageous emotions. And it looks like he got them in full. So I wouldn't particularly scold him or accuse him of complete stupidity.

In my mind, such a huge bet could only be made by a multimillionaire who fully realized the risks and for whom losing $1,4 million was not a significant loss. In other words, I hope he did it just for fun, and this loss didn't affect his life. But in all other cases, it was as reckless as possible, especially if the $1,4 million was all of his savings.

Sorry but I think you might be wrong, no one will bet with $1.4 million dollars for fun, from all indications, it's crystal clear that who ever is behind that bet simply was betting to win money, looking at the odds of the game in question, this is the type of bet we assume to have a 99 percent chances of winning, which means it's just 1 percent chances of losing, in this type of bet, chances of winning is high, but betting with a very low amount isn't really profitable since the winning will be so Insignificant, so to make a good winning off game with this type of odds, it's always best to bet a really high amount of money, and that is exactly what the gambler behind this bet did, but unfortunately for him, luck wasn't on his side.

I Personally will assume that the gambler did this bet with every single penny on his bankroll, no body will bet over a million dollars for fun, no matter how rich the person is, money is not that easy to come by.

But like you said, lets hope that he is OK with his life, cus this is the type of lose that often lead people to killing themself.

[Odusko]

Sorry but I think you might be wrong, no one will bet with $1.4 million dollars for fun, from all indications, it's crystal clear that who ever is behind that bet simply was betting to win money, looking at the odds of the game in question, this is the type of bet we assume to have a 99 percent chances of winning, which means it's just 1 percent chances of losing, in this type of bet, chances of winning is high, but betting with a very low amount isn't really profitable since the winning will be so Insignificant, so to make a good winning off game with this type of odds, it's always best to bet a really high amount of money, and that is exactly what the gambler behind this bet did, but unfortunately for him, luck wasn't on his side.

I Personally will assume that the gambler did this bet with every single penny on his bankroll, no body will bet over a million dollars for fun, no matter how rich the person is, money is not that easy to come by.

But like you said, lets hope that he is OK with his life, cus this is the type of lose that often lead people to killing themself.

Very well, this parten of play is far from fun but for basically winning a jackpot, although we can not dive into the aspects of possible case of gambling addictions since the guy in the story have no prior history that is mentioned in the ops, but for a 1.4 million wagerer something big must have been the motivations behind such an action and possibility that he is a heavy wagerer but will missed calculation this time around, although the games may have been in his favour from the beginning but towards the end part he may have run out of luck at that time, many times we should look more inward when situations like this happens and not be too quick to Judge things since we have some elements that we have to take note of and try as much as possible to avoid making false conclusion.

But the certain thing is that this particular gambler's has his decision way far from being for fun and nothing but possibly he is indebted and want to double the present funds and choosing a low odds gave him some form of confidence which did not last a while for him the whole time, well let hope he recovers from the huge lost and being able to caught down the level of his risk taking at every point in time.

Business as usual but then this time he run out of luck and this is where the situation have landed him, lets hope that he is able to recover, if he have indeed gone extra mile to throw up such huge amount of money, and what is his frame of mind right now that he has this situation at hand.

[dunfida]

I know I’ve commented on this before but it’s actually crazy to think about. Had that gambler put the money in a savings account he could’ve earned so much more than 1%. I couldn’t imagine taking such a huge risk for such a low reward. This is the kind of thing that makes people say that a fool and their money are quickly parted.

But just getting 1% of a million dollars from a bank deposit is very boring and uninteresting. And this is probably a common practice for housewives, well, of course, who have that million. And besides, you still have to wait some time, or even a whole year or half a year. And here, even though it's 1%, it's fast, you don't have to wait long, and besides, the emotions you get from such an event will be, in my opinion, outrageous. Well, maybe the player wanted to experience such outrageous emotions. And it looks like he got them in full. So I wouldn't particularly scold him or accuse him of complete stupidity.

In my mind, such a huge bet could only be made by a multimillionaire who fully realized the risks and for whom losing $1,4 million was not a significant loss. In other words, I hope he did it just for fun, and this loss didn't affect his life. But in all other cases, it was as reckless as possible, especially if the $1,4 million was all of his savings.

Sorry but I think you might be wrong, no one will bet with $1.4 million dollars for fun, from all indications, it's crystal clear that who ever is behind that bet simply was betting to win money, looking at the odds of the game in question, this is the type of bet we assume to have a 99 percent chances of winning, which means it's just 1 percent chances of losing, in this type of bet, chances of winning is high, but betting with a very low amount isn't really profitable since the winning will be so Insignificant, so to make a good winning off game with this type of odds, it's always best to bet a really high amount of money, and that is exactly what the gambler behind this bet did, but unfortunately for him, luck wasn't on his side.

I Personally will assume that the gambler did this bet with every single penny on his bankroll, no body will bet over a million dollars for fun, no matter how rich the person is, money is not that easy to come by.

But like you said, lets hope that he is OK with his life, cus this is the type of lose that often lead people to killing themself.

Really that too much if we do speak about having solely just for the sake of fun on the moment that you would really be betting millions of $$$ on which we know that not all would really be having that capacity on doing so and on the moment that you are betting on a 1.01x odds then who the hell will really be considering out on doing such step? of course to those people who do have tons of money on which its clearly showing that he is really that aiming for that gain despite of the small odds and none worth kind of risks specially on big amounts. We do know that as long the chance dont go to zero percent then there's always the probability of losing.
We do know that upsets could happen anytime and this could really be resulting into that kind of disaster into our money and this is something that how many times that had already happened into this gambling space.

Pretty sure that particular bettor does have that right amount of funds on which having that kind of betting amount on a single bets isnt pertaining into those poor fellas would be doing up such step.
Its impossible that they werent aware of the risks involved but this one really slapped out hard into his face and made out those realizations that there's no such thing about sure win. hehehe

[Dr.Bitcoin_Strange]

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.

I don't know why some gambler find it difficult to believe in so much in luck, most gamblers believe that everything is practical and that winning rely on the outcome of one's accurate prediction and that accurate prediction can only come from experts, meanwhile even if a gambler is very skillful in gambling, without luck, they will experience countless losses. Taking for example, slot games is mostly based on luck.

[delfastTions]

I know I’ve commented on this before but it’s actually crazy to think about. Had that gambler put the money in a savings account he could’ve earned so much more than 1%. I couldn’t imagine taking such a huge risk for such a low reward. This is the kind of thing that makes people say that a fool and their money are quickly parted.

But just getting 1% of a million dollars from a bank deposit is very boring and uninteresting. And this is probably a common practice for housewives, well, of course, who have that million. And besides, you still have to wait some time, or even a whole year or half a year. And here, even though it's 1%, it's fast, you don't have to wait long, and besides, the emotions you get from such an event will be, in my opinion, outrageous. Well, maybe the player wanted to experience such outrageous emotions. And it looks like he got them in full. So I wouldn't particularly scold him or accuse him of complete stupidity.

A bet he will never forget Imho that guy just won a special place among list of people who have taken stupid decisions. The topic is already rather old, but people keep on discussing his super bet. In addition to you saying that 1% from bank deposit is boring, when 1% from betting is fast money, if he was betting in online casino then that guy has also levelled his account and got some level-up bonus probably, as well as cashback. So its not just 1% deposit vs 1% gambling profit. Its more benefits for him. And a reward fail or a year

Oh yeah!
Could this even be "the main event in his life?" It could very well be. After all, he has become famous. Now, wherever he goes, he can immediately brag to the girls and everyone else that he is "that guy".
And by the way, not everyone will immediately consider him a fool.
Some, on the contrary, will "pee themselves" from happiness at seeing such a guy.  

In my mind, such a huge bet could only be made by a multimillionaire who fully realized the risks and for whom losing $1,4 million was not a significant loss. In other words, I hope he did it just for fun, and this loss didn't affect his life. But in all other cases, it was as reckless as possible, especially if the $1,4 million was all of his savings.

Of course, the guy is not simple, he is certainly not a homeless person, from the Harlem slums.
However, it seems that now Harlem is not a slum, but a very prestigious place in NYC.

[Nitrowinner]

We had a player in the past who started with 10K deposit.
He played 1.1 to 1.35 maximum odds in corners ( pre game or live betting ) or over 0.5 goals.
After 10 days he had Over 100K profit but in end of day he cashout 20K total because he lost 9 games with 1.1 - 1.15 odds ( single and multi betting slips ).

Some players they play small amounts for huge wins and some other players they choose 1-2 betting options per week or per day and bet a lot of money for get a profit.

[dwyane36]

Sorry but I think you might be wrong, no one will bet with $1.4 million dollars for fun, from all indications, it's crystal clear that who ever is behind that bet simply was betting to win money, looking at the odds of the game in question, this is the type of bet we assume to have a 99 percent chances of winning, which means it's just 1 percent chances of losing, in this type of bet, chances of winning is high, but betting with a very low amount isn't really profitable since the winning will be so Insignificant, so to make a good winning off game with this type of odds, it's always best to bet a really high amount of money, and that is exactly what the gambler behind this bet did, but unfortunately for him, luck wasn't on his side.

I Personally will assume that the gambler did this bet with every single penny on his bankroll, no body will bet over a million dollars for fun, no matter how rich the person is, money is not that easy to come by.

But like you said, lets hope that he is OK with his life, cus this is the type of lose that often lead people to killing themself.

More than once I have seen news stories about how some millionaire (celebrity or athlete) spent millions of dollars on trinkets, as well as on betting and gambling. That's why I suggested that he might have done it just for fun. In fact, it's hard to understand the real reason why a person would risk $1,4 million for the $ 11.2k profit that he could have gotten if he had won the bet.