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

[mdzahed134]

Or it comes to mind that he was managing other people's money, and wanted to earn quick commissions by betting on a reliable outcome.

Anyway, this should be a great lesson for those with gambling problems.

I don’t think he/she collected this money from other people’s because the amount is 1.4 million usd it’s not a joke. Of course he/she is professional gamblers otherwise no one will take such a big risky decision to profit 11k$ against 1.4 million dollars. Newbies will never bet with such big amount without understand gambling.

[Wiwo]

If it was the gambler's own money, he could be very depressed seeing the big loss he got and would not have the confidence to meet anyone because maybe the people around him have cursed him for having made one big mistake by gambling with big money. But yeah, we can only guess and don't know the truth. But what is certain is that it is a valuable lesson that we can reflect on so that we do not waste that much money on gambling and even make something that can make money for us. It will be better for our life later.

I think gamblers who bet very large amounts of money are their personal money and this is done to be able to get even bigger profits.
He must have known what kind of risk he would receive because he was betting a large amount so it would be impossible for him to bet carelessly without any prior consideration.
Maybe for us, it is a very large amount of money and it would be a shame to bet all of it but for him who is risking it is not a large amount because surely he is a person who has more and more wealth.

I believe the gambler the bet away 1.4 million must have been a heavy wager that has won a lot of money from previous risks, and this loss may have been as a result of overconfidence in the odds since the odds look to the player as a sure odd and he risks such big amount inline with that judgement he took that heavy risk and I am sure his decision was highly influenced by several things.
-The quest to recover from previous losses.
-over excitement from previous big winning
And the rest of what have you,  but ultimately 1.4 million is a big amount to wager in just a bet.

[Fivestar4everMVP]

Or it comes to mind that he was managing other people's money, and wanted to earn quick commissions by betting on a reliable outcome.

Anyway, this should be a great lesson for those with gambling problems.

I don’t think he/she collected this money from other people’s because the amount is 1.4 million usd it’s not a joke. Of course he/she is professional gamblers otherwise no one will take such a big risky decision to profit 11k$ against 1.4 million dollars. Newbies will never bet with such big amount without understand gambling.

You are absolutely correct, it is the same thing I said in my previous comment, 1.4 million dollars is not an amount a gambling newbie will wager in one game no matter how rich the person is, it is also not an amount someone would borrow and wager because a professional gambler already understands the risks involved with gambling.
So I believe this money actually belonged to who ever wagered it, but what we do not know now is whether this is just a fraction of what he or she has, or the gamblers wagered all he or she in anticipation of making that profit, which if yes, then it's a really a bad deal for the gambler.

[Dunamisx]

Could you believe that just as we are on the course of discussion on this thread i still experience a friend of mine falling a victim of related mistake, he uses the money in his disposal but belonging to someone else to gamble a too sure game and loose everything of about 600 USD, though the amount may not be as much as the one OP lost but regardless of the means we should not use other's people money to gamble, he eventually got deceived by the odds offered and place the bet to loose everything at a glance.

[uneng]

Could you believe that just as we are on the course of discussion on this thread i still experience a friend of mine falling a victim of related mistake, he uses the money in his disposal but belonging to someone else to gamble a too sure game and loose everything of about 600 USD, though the amount may not be as much as the one OP lost but regardless of the means we should not use other's people money to gamble, he eventually got deceived by the odds offered and place the bet to loose everything at a glance.

The biggest mistake of your friend was to have gambled with funds which didn't belong to him. Now, besides understanding there isn't such safe bets, he will also have to learn we can't use money from others to gamble. I hope he is able to recover that sum of 600$ faster as possible to return it to the original owner.

I guess it's not that hard to retrieve that amount working for few months, at least.

This story also reminded me a fact which was shared by local news where a college student gambled more than 200.000$ which belonged to the class graduation funds. The girl just gambled everything on the lottery and lost huge money.

[Silberman]

It should be obvious that such a bet was made by a gambler with problems, because even if the probabilities of losing such bet were very low they were not zero, and taking such a risk with such a huge amount of money for such little gain makes no sense at all, I just hope the person who did this is doing fine as losing 1.4 millions in less than an hour and in that way should be incredibly hard, and it would not surprise me if such a person was undergoing some sort of depression.

I think he could get depressed after that big loss.
Obviously, this poses a huge risk for a gambler, even for people who have a lot of money, because after they lose, it will not be easy to recover from their losses again.
But maybe he's betting above the average of anyone who's played at the casino, especially since he's had it in less than an hour.
If I were that person, with that kind of money, I wouldn't spend it in one day but would use it for days, maybe up to several months

And that is what makes such loss so bad as that is an amount of money that could last you for a lifetime at many countries around the world and yet this gambler lost it in less than an hour, that has to hurt and a lot, especially when you begin to imagine all the things which you can do with that kind of money, you could buy a few luxury cars, travel around the world or do whatever you want with it and most likely you will still have some left after enjoying yourself to the max.

[RILWAN]

This is not the first time we are hearing news such as this, in as much as gamblers are hitting jackpots so some will have huge losses, this is a normal characteristic of gambling and sometimes the amount doesn't matter.

Btw if the player has some disorder then that will ve another case entirely.

[len01]

The problem is such look like a safe bet when in fact not... I have seen people lose on a 1.005 odd bet which looked like a sure bet but turned out to be a high risk bet that will lead to losing and the unfortunate thing about such wagers is that a player needs to put in alot of money to have a small profit but in the end its all burst! Btw I think bookies actually make more money on such bets because of our greed, it's a hard lesson learnt and can never be too sure of an outcome.

sometimes odd bets are misleading and gamblers are sometimes too greedy after seeing odd bets that seem to promise victory even though they are like a trap. I had experienced something like this at that time, but luckily I gambled just for fun without using big bets.

And one thing I learned from this, don't be deceived by the current score of the game, it can flip any time.  that is actually the case stated by @OP betting on the leading time while the game is running, disregarding the possibility of a comeback of another team.

for gamblers who have lost a lot of money because they have bet a large amount on odd bets, hopefully that will be the best lesson not to be greedy in gambling

I bet the guy had learned his lesson.  It is an expensive tuition fee for the gambling 101 courses.  I do not think it was an addiction case but instead a "sure-win" fallacy.

well, what you said is true, don't be fooled by the current match score or the initial score. indeed betting on one of the teams, especially sports betting, at least before placing a bet it would be better to see the match as it takes place to determine the performance of the players on the field. so we will know how good the opportunities we will choose. and usually I also do that before placing a bet so I don't get fooled by the odd.

the most expensive college course is Course 101 with a cost of $1.4 million

[EarnOnVictor]

The problem is such look like a safe bet when in fact not... I have seen people lose on a 1.005 odd bet which looked like a sure bet but turned out to be a high risk bet that will lead to losing and the unfortunate thing about such wagers is that a player needs to put in alot of money to have a small profit but in the end its all burst! Btw I think bookies actually make more money on such bets because of our greed, it's a hard lesson learnt and can never be too sure of an outcome.

Permit me to say that anyone could lose a bet no matter how promising the bet looks, which is why we have to be careful and be managerial in our wagering. Like the story of this gambler, it's obvious that the guy is only a gambler, the managerial aspect is not there. The $1.4 million is big money that would have been able to sustain his betting for the rest of his life but was just wasted in such a manner.

The odd of 1.008 does not imply riskless betting with certainty, so such should have thought it twice and spread the risk on games with lower odds because they have a higher probability of winning. Selecting 10 independent games would have been a good bargain.

[maydna]

If it was the gambler's own money, he could be very depressed seeing the big loss he got and would not have the confidence to meet anyone because maybe the people around him have cursed him for having made one big mistake by gambling with big money. But yeah, we can only guess and don't know the truth. But what is certain is that it is a valuable lesson that we can reflect on so that we do not waste that much money on gambling and even make something that can make money for us. It will be better for our life later.

I think gamblers who bet very large amounts of money are their personal money and this is done to be able to get even bigger profits.
He must have known what kind of risk he would receive because he was betting a large amount so it would be impossible for him to bet carelessly without any prior consideration.
Maybe for us it is a very large amount of money and it would be a shame to bet all of it but for him who is risking it it is not a large amount because surely he is a person who has more and more wealth.

Perhaps, he already knows the risks or maybe he never thought about the risks and just kept on playing. As we already know, gambling can make us forget to take care of ourselves and our money so that it doesn't all run out, but instead, it seems like we are chasing victory many times even though we have won it before.

For rich people, that amount might be nothing compared to all their money or they could get that much money easily. And he also didn't feel that it was embarrassing because it was normal for him. Those who have never gambled with that big money would be shocked at how much money has already been spent.

[GigaBit]

Or it comes to mind that he was managing other people's money, and wanted to earn quick commissions by betting on a reliable outcome.

Anyway, this should be a great lesson for those with gambling problems.

I don’t think he/she collected this money from other people’s because the amount is 1.4 million usd it’s not a joke. Of course he/she is professional gamblers otherwise no one will take such a big risky decision to profit 11k$ against 1.4 million dollars. Newbies will never bet with such big amount without understand gambling.

In this concern the amount of money is big but it is not important. When a gambler gambles, he often make some mistakes. One of the few things to pay attention controlling greed in gambling is one of them. There are some gamblers who are only interested in betting on those betting odds 0.001 to win. They think that betting on those bets is safe and profitable. As a result they fall into a kind of greed and fail once after repeated wins and lose both their previous gains and the capital ‍as well. So a gambler should control himself in such betting odds.

[Shamm]

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?

As far as I play in gambling sites and on the casino itself I didn't encounters a  huge amount of loss but for me every bet is risky when you put your money in the pot for sure only two ways where your money goes. If we when then we can withdraw our winning money but if we loss its say that we need to deposit again and try our luck for the second or third time .so we must be take a gambling as a serious habbit.

[RILWAN]

This amount of lose is huge and this will really affect the gambler mind unless he has hit a jack pot severely in the past and if that be so 1.4 million dollars lost bet may not mean much to the gambler is question.

But any way it is good we mentioend it here to teach us some lessons never to bet heavily because of odds, gambling is risky you can lose everything.

[klidex]

If it was the gambler's own money, he could be very depressed seeing the big loss he got and would not have the confidence to meet anyone because maybe the people around him have cursed him for having made one big mistake by gambling with big money. But yeah, we can only guess and don't know the truth. But what is certain is that it is a valuable lesson that we can reflect on so that we do not waste that much money on gambling and even make something that can make money for us. It will be better for our life later.

I think gamblers who bet very large amounts of money are their personal money and this is done to be able to get even bigger profits.
He must have known what kind of risk he would receive because he was betting a large amount so it would be impossible for him to bet carelessly without any prior consideration.
Maybe for us it is a very large amount of money and it would be a shame to bet all of it but for him who is risking it it is not a large amount because surely he is a person who has more and more wealth.

Perhaps, he already knows the risks or maybe he never thought about the risks and just kept on playing. As we already know, gambling can make us forget to take care of ourselves and our money so that it doesn't all run out, but instead, it seems like we are chasing victory many times even though we have won it before.

For rich people, that amount might be nothing compared to all their money or they could get that much money easily. And he also didn't feel that it was embarrassing because it was normal for him. Those who have never gambled with that big money would be shocked at how much money has already been spent.

However, it seems that he already knows very well what risks can be obtained. However, because he is a rich man, he can have the strength to accept all these risks.
Rich people are also certain that in every game or bet they cannot just be careless in doing it. It must be based on sufficient knowledge and extensive knowledge about a game or bet so that it indirectly makes them confident and sure of victory.

Yes, of course, and rich people dare to place large bets because there is an advantage if they win, the amount they get is even bigger and is proportional to the risk they have to accept.

[Twinkledoe]

The problem is such look like a safe bet when in fact not... I have seen people lose on a 1.005 odd bet which looked like a sure bet but turned out to be a high risk bet that will lead to losing and the unfortunate thing about such wagers is that a player needs to put in alot of money to have a small profit but in the end its all burst! Btw I think bookies actually make more money on such bets because of our greed, it's a hard lesson learnt and can never be too sure of an outcome.

Permit me to say that anyone could lose a bet no matter how promising the bet looks, which is why we have to be careful and be managerial in our wagering. Like the story of this gambler, it's obvious that the guy is only a gambler, the managerial aspect is not there. The $1.4 million is big money that would have been able to sustain his betting for the rest of his life but was just wasted in such a manner.

The odd of 1.008 does not imply riskless betting with certainty, so such should have thought it twice and spread the risk on games with lower odds because they have a higher probability of winning. Selecting 10 independent games would have been a good bargain.

Some gamblers are taking the risk of betting tons of money with low odds as they believe their chance of winning is like almost 100%. But sad to say, upsets always do happen in any sports. Even if we say, this team or athlete is high likely to win, but you can never be sure up until the game is over. That gambler who betted $1.4M thought that there's no chance that he will lose, but unfortunately, he lost.

[KupaCrypto]

This amount of lose is huge and this will really affect the gambler mind unless he has hit a jack pot severely in the past and if that be so 1.4 million dollars lost bet may not mean much to the gambler is question.

But any way it is good we mentioend it here to teach us some lessons never to bet heavily because of odds, gambling is risky you can lose everything.

It will surely affect him, he knew he was putting his money into gamble and in gamble anything can happen, no matter how certain the outcome may look nothing is sure, so he has to deal with the loss , he needs a strong mentality now, because that strong mentality is put to rest in situations like this when you loose a bet with such huge amount of money.

Maybe he has enough money to make him forget about the 1.4million dolls but surely he will still feel it, he shouldn't give up on betting,

[lienfaye]

This amount of lose is huge and this will really affect the gambler mind unless he has hit a jack pot severely in the past and if that be so 1.4 million dollars lost bet may not mean much to the gambler is question.

But any way it is good we mentioend it here to teach us some lessons never to bet heavily because of odds, gambling is risky you can lose everything.

It will surely affect him, he knew he was putting his money into gamble and in gamble anything can happen, no matter how certain the outcome may look nothing is sure, so he has to deal with the loss , he needs a strong mentality now, because that strong mentality is put to rest in situations like this when you loose a bet with such huge amount of money.

Maybe he has enough money to make him forget about the 1.4million dolls but surely he will still feel it, he shouldn't give up on betting,

He bet a huge money thinking he will win because of the low odds but unfortunately unexpected thing happened. Indeed, in gambling you really can't be so certain on what's going to be the outcome, that's why this situation is a perfect example to only gamble what you can afford to lose. Don't be too confident to avoid experiencing the same fate just like this person who bet 1.4 million dollars just to win $11k, not worth it.

[Bitinity]

This amount of lose is huge and this will really affect the gambler mind unless he has hit a jack pot severely in the past and if that be so 1.4 million dollars lost bet may not mean much to the gambler is question.

But any way it is good we mentioend it here to teach us some lessons never to bet heavily because of odds, gambling is risky you can lose everything.

It will surely affect him, he knew he was putting his money into gamble and in gamble anything can happen, no matter how certain the outcome may look nothing is sure, so he has to deal with the loss , he needs a strong mentality now, because that strong mentality is put to rest in situations like this when you loose a bet with such huge amount of money.

Maybe he has enough money to make him forget about the 1.4million dolls but surely he will still feel it, he shouldn't give up on betting,

True, if he is a billionaire, the lost will not affect him financially but it will still affect him mentally due to its insane low odds. No doubt that he regret it much, because he did make a huge bet for small profit but unfortunately he lost it. Hopefully he is a real billionaire who wont be affected financially, I cant imagine how if this 1.4m is all the money he owns. Something really worst must be happened after..

[Fivestar4everMVP]

This amount of lose is huge and this will really affect the gambler mind unless he has hit a jack pot severely in the past and if that be so 1.4 million dollars lost bet may not mean much to the gambler is question.

But any way it is good we mentioend it here to teach us some lessons never to bet heavily because of odds, gambling is risky you can lose everything.

It will surely affect him, he knew he was putting his money into gamble and in gamble anything can happen, no matter how certain the outcome may look nothing is sure, so he has to deal with the loss , he needs a strong mentality now, because that strong mentality is put to rest in situations like this when you loose a bet with such huge amount of money.

Maybe he has enough money to make him forget about the 1.4million dolls but surely he will still feel it, he shouldn't give up on betting,

True, if he is a billionaire, the lost will not affect him financially but it will still affect him mentally due to its insane low odds. No doubt that he regret it much, because he did make a huge bet for small profit but unfortunately he lost it. Hopefully he is a real billionaire who wont be affected financially, I cant imagine how if this 1.4m is all the money he owns. Something really worst must be happened after..

Yeah, from the odds, we can be sure that the gambler wasnt expecting to lose his money in this game, he actually believed that the game is a sure one for him, that is why he put such a huge amount of money in the game for a very small profit of $11k, i know $11k is still no small amount of money but i called it small profit because it is indeed a small amount when we compare it to the amount of $1.4 million dollars wagered by the gambler..

Like you said, let us all hope that the gambler is a billionaire and that this lose does not negatively affect him financially, it is better that the lose affect him emotionally than financially, emotionally means that within a short period of time, he can forget about the loss and move on, but for this to affect him financially means that the chances of the gambler thinking about committing suicide is high.

[maydna]

If it was the gambler's own money, he could be very depressed seeing the big loss he got and would not have the confidence to meet anyone because maybe the people around him have cursed him for having made one big mistake by gambling with big money. But yeah, we can only guess and don't know the truth. But what is certain is that it is a valuable lesson that we can reflect on so that we do not waste that much money on gambling and even make something that can make money for us. It will be better for our life later.

I think gamblers who bet very large amounts of money are their personal money and this is done to be able to get even bigger profits.
He must have known what kind of risk he would receive because he was betting a large amount so it would be impossible for him to bet carelessly without any prior consideration.
Maybe for us it is a very large amount of money and it would be a shame to bet all of it but for him who is risking it it is not a large amount because surely he is a person who has more and more wealth.

Perhaps, he already knows the risks or maybe he never thought about the risks and just kept on playing. As we already know, gambling can make us forget to take care of ourselves and our money so that it doesn't all run out, but instead, it seems like we are chasing victory many times even though we have won it before.

For rich people, that amount might be nothing compared to all their money or they could get that much money easily. And he also didn't feel that it was embarrassing because it was normal for him. Those who have never gambled with that big money would be shocked at how much money has already been spent.

However, it seems that he already knows very well what risks can be obtained. However, because he is a rich man, he can have the strength to accept all these risks.
Rich people are also certain that in every game or bet they cannot just be careless in doing it. It must be based on sufficient knowledge and extensive knowledge about a game or bet so that it indirectly makes them confident and sure of victory.

Yes, of course, and rich people dare to place large bets because there is an advantage if they win, the amount they get is even bigger and is proportional to the risk they have to accept.

And if he takes the risk but instead continues to play and uses big money as a bet, it is highly not recommended because there is a loss that can occur at any time, and his defeat finally proves that. People with a lot of money may accept such a large amount, but if it ends up spending all their money on the gambling table, it is the same as taking a risk but not knowing how to deal with big risks.

Rich people dare to place big bets, and they can accept the risk of losing their money at any time. Maybe they're after the winning money they can get by placing that big bet, so it's normal for them.