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

[ultrloa]

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.

Maybe he's curious to know if he could able to get good gains even if he use that odds, but he end up getting fucked up and lose his millions in that situation.

For sure the person do that didn't sleep by the time he lost his millions.

This is another sad story to read from a people who lost a lot of money from situation he didn't expect. That's why it always better to gambler just for fun only and think for profit less so that no greedy factor will occur, also no want to gain more feeling come up on our mind since everything is risky especially that we are dealing with casinos.

[mak013]

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.

Yep, it`s what i say. It can be a strategy with several bets. It is easy enough to make 10 bets per day with small risk. If odds about 1.1 ten bets double you deposit daily. This gambler need 100 bets with such odd to return money back.
I repeat - we see only one bet. It looks awful if it is the only bet, but if it is the part of strategy - it can be just some moment of small disappoint.

[Woodie]

I have seem these kind of odds turn from 1.0001  to the point of not taking bets on them to going over 100 odds!!
And am not surprised to be honest that the gambler lost over a million dollars to such ridiculous odds in an attempt to just win 1% of their capital... sport games like tennis , volleyball, football etcetera can all change in a blink of an eye especially if the favourite is chasing the game with luck running thin on them only for a break to happen and the rest is history.

That's why to some extent I hate small odds because usually they are the culprits that spoil nice accumulators... though back in the day I used these as banker's but not anymore because I lost more funds on these tiny odds.

[Fivestar4everMVP]

I have seem these kind of odds turn from 1.0001  to the point of not taking bets on them to going over 100 odds!!
And am not surprised to be honest that the gambler lost over a million dollars to such ridiculous odds in an attempt to just win 1% of their capital... sport games like tennis , volleyball, football etcetera can all change in a blink of an eye especially if the favourite is chasing the game with luck running thin on them only for a break to happen and the rest is history.

That's why to some extent I hate small odds because usually they are the culprits that spoil nice accumulators... though back in the day I used these as banker's but not anymore because I lost more funds on these tiny odds.

And the worst thing about tiny odds as such is that it gives you confidence that you are going to win, since the potential winning amount is so small, it pushes or rather, encourages the gambler to increase his or her bet size or amount to the highest possible, so as to as well, increase the potential amount to profit.

But at the end of the day, when such games fail to materialize, the gambler losses big because, his or her self assurance of a win made or tricked him or her into betting an amount of money he or she possibly can not afford to lose.
This is exactly what I am suspecting happened with this gambler and it's very unfortunate to say the least, losing over a million dollars to such a low odd game seems stupid to many of us, but the truth is that, the gambler wouldnt have risked such amount of money on a game with odds that is higher because he would think or would have thought the risk of losing is high.

[EarnOnVictor]

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.

Lol...this is a foolish decision indeed. I've thought about savings, online investments and even buying properties with the money. These would have yielded more than the $11,200 intended to be won by the gambler, I can't just imagine what he was thinking to have taken such an ignoble risk. But at the same time, some people might make such a decision under the influence regardless of whether or not it's as light as alcohol. This calls for caution whenever we have access to big amounts of money, our brains must be brightenedly working and our minds must be sharpened to avoid issues like this, or even steer clear of such while gambling.

[Mahanton]

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.

Maybe he's curious to know if he could able to get good gains even if he use that odds, but he end up getting fucked up and lose his millions in that situation.

For sure the person do that didn't sleep by the time he lost his millions.

This is another sad story to read from a people who lost a lot of money from situation he didn't expect. That's why it always better to gambler just for fun only and think for profit less so that no greedy factor will occur, also no want to gain more feeling come up on our mind since everything is risky especially that we are dealing with casinos.

Totally a lesson learned for him because we do know that even on how small the odds are and showing that almost a guaranteed win but still its called betting because you are really that indeed risking money to earn money which of course as long the chance didnt dropped to zero then there's always the possibility that you could be able to lose up even on how tiny tit would be.

Its important that you should really be that wary about into those conditions because on the time or moment that you do find yourself having this kind of step and not thinking about risks tolerance then
you are just basically putting up yourself on such condition on which we know that losing up big time will really be not controlled.

If it turns out that this one become a win then that would be an easy money since he had bet out millions then even on how small the odds are then its still a good money to have
but the wrong thing on what happened on here that he had been able to hit up that slim chance of losing on which is really that totally devastating. Its important that risks management would really be
that relevant on these kind of moments but since this person is really that betting up millions then this guy is really a rich person.

No one will really be on their right minds on betting up millions if this is their last money that they do have into their bankaccounts but well we dont really know behind
yet there are actually gamblers who do really make out such bets such as this on which we know that this is something possible.

[I_Anime]

https://nypost.com/2023/01/15/gambler-loses-massive-1-4-million-bet-on-chargers-jaguars-game/

One bettor wasted a massive $1.4 million wager after betting on Los Angeles before the Jaguars mounted an epic comeback to beat the Chargers 31-30, according to Action Network’s Darren Rovell.

It seems that a gambler has loss this massive amount (1.4 million USD) playing a bet with an odds lower than 1.01! (exactly 1.008)

I think there are several lessons here:
- there is not easy bet! even lower odds there is always a risk.
- it's really risky playing an huge amount. This not helps gambler because the risk is much much higher then rewards!
- gambling is not easy at all! it's really hard achieve a profit even for easy games!

what your opinion about this gambling issue? did you had experience similar experience? how a good gambler should avoid such mistakes?

I don't know what I will call this , well but I'm pretty sure this not gambling for fun , and I can't tell if is money that he can actually afford to lose because to be frank that's actually a use amount of money. And I'm sure that the gambler will definitely regret it at the end , I will keep saying it gambling is not a means to get reach there's no guarantees that you are going to hit the jackpot quickly or hit it all , that's why we should be mindful on how we use our hard earn funds.