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

[traderethereum]

Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will loose that amount and will not even blink.

You're right, mate. Only rich people can afford to spend enormous amounts of money, even for a single use of their money, for example, shopping.
But for those who don't have much money, having 1M USD is still a dream and we will feel frustrated if we spend it only on gambling.
That kind of money can provide for our living needs for many years for people who live in countries where the cost of living is not high.
We can only learn from what others have obtained so that we can take what is good to apply to us and leave what is not good.

[rodskee]

Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will loose that amount and will not even blink.

You're right, mate. Only rich people can afford to spend enormous amounts of money, even for a single use of their money, for example, shopping.

shopping galore using a million bucks? well in very occasional chances? it really happens but not many can afford like this.

But for those who don't have much money, having 1M USD is still a dream and we will feel frustrated if we spend it only on gambling.

1 million is so much money actually mate, and that is something that only few can make in their entire life.

That kind of money can provide for our living needs for many years for people who live in countries where the cost of living is not high.
We can only learn from what others have obtained so that we can take what is good to apply to us and leave what is not good.

well, He already lose that amount and yes surely he is regretting that decision all His life.

[Get-Paid.com]

1 million is so much money actually mate, and that is something that only few can make in their entire life.

Some people won't make it at all in their entire lifetime.

Crazy, huh?  

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)

Try the same with horse racing, going against horses that can trade 1000 to 1 in the exchange (which is 1.001, less than 1.008) - you would find "losers" there as well, it could happen also in other type of sports and more. Unpredictable events are random - that's how gambling works, based on this randomality ... if you have an edge you can surely exploit it for much more than 1.008 - low odds are never a way to make money unless you created a secret formula somehow.

[EarnOnVictor]

1 million is so much money actually mate, and that is something that only few can make in their entire life.

Some people won't make it at all in their entire lifetime.

Crazy, huh?  

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)

Try the same with horse racing, going against horses that can trade 1000 to 1 in the exchange (which is 1.001, less than 1.008) - you would find "losers" there as well, it could happen also in other type of sports and more. Unpredictable events are random - that's how gambling works, based on this randomality ... if you have an edge you can surely exploit it for much more than 1.008 - low odds are never a way to make money unless you created a secret formula somehow.

There is no justification that could make me go for an odd of 1.0008 with $1.4M, this is senseless to me, so unprofessional and nonmanagerial. Maybe the guy is under the influence of alcohol, which is one of what they use in physical casinos to make you act the way you can't naturally act. The surest game could end up in bitterness for people regardless of class, so it's not new.

Sportsbooks are even the best place to gain more often than casinos and using your head well when you have big money is the key. In this way, you will continue to make your cool money forever.

[karmamiu]

Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will loose that amount and will not even blink.

You're right, mate. Only rich people can afford to spend enormous amounts of money, even for a single use of their money, for example, shopping.

shopping galore using a million bucks? well in very occasional chances? it really happens but not many can afford like this.

But for those who don't have much money, having 1M USD is still a dream and we will feel frustrated if we spend it only on gambling.

1 million is so much money actually mate, and that is something that only few can make in their entire life.

That kind of money can provide for our living needs for many years for people who live in countries where the cost of living is not high.
We can only learn from what others have obtained so that we can take what is good to apply to us and leave what is not good.

well, He already lose that amount and yes surely he is regretting that decision all His life.

That's just how gambling consequences could really be bad, in just a blink of an eye everything is already a part of a history or a lesson. I know he'd probably thinking right now about so many what if's scenarios but, in the end, what's done is done. Millionaires or not, it is still a huge gamble and I'm pretty sure he also regrets betting that amount although it had somewhat safe odd. This is why gambling is gambling.

[piebeyb]

Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will loose that amount and will not even blink.

You're right, mate. Only rich people can afford to spend enormous amounts of money, even for a single use of their money, for example, shopping.
But for those who don't have much money, having 1M USD is still a dream and we will feel frustrated if we spend it only on gambling.
That kind of money can provide for our living needs for many years for people who live in countries where the cost of living is not high.
We can only learn from what others have obtained so that we can take what is good to apply to us and leave what is not good.

in my country 1 million dollars can be enough to support me and my family for up to 10 years or more if you build a business at the same time, lol
but that's how rich people play when they want to get a little profit they dare to spend big capital and they don't think they will lose big money too in their bets

[Odusko]

1 million dollar is a lot of money to some people but to other it has a small fraction which can easily be bet away or spent in a night out, but the we should also consider other factors that may have lead to this incident, first we should consider the gambler previous gambling history and how much he have won or lost in the past.

Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just a change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will lose that amount and will not even blink.

You're right, mate. Only rich people can afford to spend enormous amounts of money, even for a single use of their money, for example, shopping.
But for those who don't have much money, having 1M USD is still a dream and we will feel frustrated if we spend it only on gambling.
That kind of money can provide for our living needs for many years for people who live in countries where the cost of living is not high.
We can only learn from what others have obtained so that we can take what is good to apply to us and leave what is not good.

in my country 1 million dollars can be enough to support me and my family for up to 10 years or more if you build a business at the same time, lol
but that's how rich people play when they want to get a little profit they dare to spend big capital and they don't think they will lose big money too in their bets

Even though the money is enough to set many people out of financial struggle for many years, there are still other risk factors that we must consider, such as risk of unplanned incidents that can eat up that money, and what is the possibility of one not losing such an amount into a bad business.

So ultimately we should learn just one lesson from this which is, setting limits to all that we do as it involves money it doesn't matter the level of risk, let's make it a principle.

[coinerer]

1 million dollar is a lot of money to some people but to other it has a small fraction which can easily be bet away or spent in a night out, but the we should also consider other factors that may have lead to this incident, first we should consider the gambler previous gambling history and how much he have won or lost in the past.

Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just a change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will lose that amount and will not even blink.

You're right, mate. Only rich people can afford to spend enormous amounts of money, even for a single use of their money, for example, shopping.
But for those who don't have much money, having 1M USD is still a dream and we will feel frustrated if we spend it only on gambling.
That kind of money can provide for our living needs for many years for people who live in countries where the cost of living is not high.
We can only learn from what others have obtained so that we can take what is good to apply to us and leave what is not good.

in my country 1 million dollars can be enough to support me and my family for up to 10 years or more if you build a business at the same time, lol
but that's how rich people play when they want to get a little profit they dare to spend big capital and they don't think they will lose big money too in their bets

Even though the money is enough to set many people out of financial struggle for many years, there are still other risk factors that we must consider, such as risk of unplanned incidents that can eat up that money, and what is the possibility of one not losing such an amount into a bad business.

So ultimately we should learn just one lesson from this which is, setting limits to all that we do as it involves money it doesn't matter the level of risk, let's make it a principle.

A gambling addict never realizes how risky it is and how much money a single bet is good for. Then they think that betting a big account will give a big amount of return and they will become rich in a very short time.  But when he loses that big amount he can feel how big a mistake he made.  And thus many lose everything and end up in huge debt or commit suicide.

[AicecreaME]

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 wonder whether there is some easy conclusion to be drawn that the player was addicted. We don't know his bankroll and maybe he doesn't even bother because he has billions, but if it was a substantial amount for that person, would it ever make sense to place a bet of that size at all? Saying that this person wanted to play it safe would only apply if that amount of $1.4 million is within his perfect bankroll management range. Otherwise, if someone is seeking the kick in putting up $1.4 million for the chance of winning $11,200, I would think that there is some loss of control at play because nobody would care winning $11,200 in exchange for risking over a million. 

That's a crazy story either way and as you already put it, there is no such thing as a 100% safe bet ever unless you are hedging somehow. But this one ended with way more than a punch in the face...

Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will loose that amount and will not even blink.

As impossible as it may sound, yes there are really people like this who have so much they wouldn't totally care nor even notice that they already loss a massive amount, at least for our perspective because they have so much at their disposal. These are the few lucky ones who are really considered elites and are very much wealthy, not just wealthy, but way beyond. If they don't feel any remorse or regret about risking then losing, then most probably it's just a small amount that they can always earn after a while.

Perhaps those rich people who still feel the guilt are the ones who just understand the value of what they lost after they lost it, realizing that it is indeed a big money still. I encounter more if this one rather the first one though personally speaking and in general matter, not only in gambling but also in risking to other things.

[RILWAN]

I dont know why most comments here are blaming the man for gambling away such an amount on a bet, but we have failed to know if the man is a jack pit holdwr and is still out to increase his winning by trying out his luck on varieties of games and this time his luck has not to shine that is why he lost 1.4 million dollars in a bet.

[QueenVera]

It is never advisable to use mine one can't afford to lose to gamble and I really can't tell if tye money used was for gambling purpose alone because we've heard cases of people who have lost very huge sum of money just in gambling and it never moved them and maybe that might be the case with this user that lost.
And this very situation has thought me something that nothing is certain in gambling and anything can happen and I guess tye gambler was so over certain of what he wanted to play and finally got disappointed at the end.
This is a wake up call to gamblers never to use money they can't afford to lose and that anything can happen at anytime

[Fredomago]

Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will loose that amount and will not even blink.

You're right, mate. Only rich people can afford to spend enormous amounts of money, even for a single use of their money, for example, shopping.
But for those who don't have much money, having 1M USD is still a dream and we will feel frustrated if we spend it only on gambling.
That kind of money can provide for our living needs for many years for people who live in countries where the cost of living is not high.
We can only learn from what others have obtained so that we can take what is good to apply to us and leave what is not good.

Same with you, that huge amount can be a fortune to someone who's living in a third word country, it can provide luxuries for a longer period especially if the person are capable of establishing a business that can really give them continuous sources of incomes, though, it's also true that there's people like the gambler who lose that huge amount who can let it go and continue playing.

in my country 1 million dollars can be enough to support me and my family for up to 10 years or more if you build a business at the same time, lol
but that's how rich people play when they want to get a little profit they dare to spend big capital and they don't think they will lose big money too in their bets

Like what I said, if the person who have that huge amount of money who's living in a place where cost of living is not that much, they can put up business and investment that can bring more income, in terms of gambler who can lose that amount, either a whale or an addicted gambler who can embrace that risk.

[Wiwo]

I just read a comment on the Roobet thread here this is the link: https://bitcointalk.org/index.php?topic=5199911.msg61729330#msg61729330
The player won a huge amount in a bet on slot this is very important in to mention so that we all can be aware, that as there are big losers so are their big winners who are hitting jackpot at regular intervals so the player option to bet a bet worth $1.4 million is justifiable and sane to practice since he did not know what the outcome will be when but now it is clear to him since he lost and he now knows his faith.

[BitcoinTurk]

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)

This actually proves that low odds do not provide guaranteed returns when gambling. Although low odds are more likely to win, you should definitely not bet such a high amount for low odds bets. In addition, the importance of placing a bet by making a capital control for low-rate and guaranteed gambling is understood when such an amount is lost.
I had a similar situation before;

Just in the 10th minute of the soccer match, I saw 1.14 odds for a soccer bet that continued 1-1 as a result of the match and I gambled with 2 Bitcoins. In approximately 80 minutes it seemed almost certain that any team would score. However, the result of the match ended 1-1 and I was the loser in this gamble, which I expected as a guaranteed win.

So, having such a bad experience, I need to state very clearly that a low rate always means a high probability of winning, but it does not mean that you can make a guaranteed win.

[klidex]

A gambling addict never realizes how risky it is and how much money a single bet is good for. Then they think that betting a big account will give a big amount of return and they will become rich in a very short time.  But when he loses that big amount he can feel how big a mistake he made.  And thus many lose everything and end up in huge debt or commit suicide.

In fact, being too obsessed with wealth from gambling is something that is really not recommended for gamblers because it will only give them big losses and losses.
We don't know whether to win or lose in a game, even though we can still minimize the rate of defeat, not everyone can do it.
Some people can indeed make large amounts of money at gambling and even then they already have sufficient experience and knowledge in all games or bets.
So the option to get rich in an instant by relying on gambling is just a dream for those who are beginners or gamblers who only have money without any knowledge or strategy.

[RikandMorty1]

These extremly low odds are the worst thing you can possibly use on gambling websites.

[bettercrypto]

Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will loose that amount and will not even blink.

You're right, mate. Only rich people can afford to spend enormous amounts of money, even for a single use of their money, for example, shopping.
But for those who don't have much money, having 1M USD is still a dream and we will feel frustrated if we spend it only on gambling.
That kind of money can provide for our living needs for many years for people who live in countries where the cost of living is not high.
We can only learn from what others have obtained so that we can take what is good to apply to us and leave what is not good.

It's indeed, obvious that the gambler who did that is rich, many members here regretted that he made that bet, while the bettor himself can't see any regret or remorse for what he did.

   For rich people, they won't feel the value of 1M$ but for those who aren't, of course maybe even just 20k$ is too much regret for us or maybe we haven't agreed to bet that amount too.

[BobK71]

Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will loose that amount and will not even blink.

You're right, mate. Only rich people can afford to spend enormous amounts of money, even for a single use of their money, for example, shopping.
But for those who don't have much money, having 1M USD is still a dream and we will feel frustrated if we spend it only on gambling.
That kind of money can provide for our living needs for many years for people who live in countries where the cost of living is not high.
We can only learn from what others have obtained so that we can take what is good to apply to us and leave what is not good.

It's indeed, obvious that the gambler who did that is rich, many members here regretted that he made that bet, while the bettor himself can't see any regret or remorse for what he did.

   For rich people, they won't feel the value of 1M$ but for those who aren't, of course maybe even just 20k$ is too much regret for us or maybe we haven't agreed to bet that amount too.

It is a very simple matter. A rich man likes to bet big. It's no surprise that his small bet amounts can be sky-high for many gamblers. But when gambler loses by betting on such odds, it can be a concern for everyone. 1.4 million dollars not less amount. No matter how big a bettor loses, he must have regrets. We know that people learn for mistakes so, such learning is necessary.

[Hamphser]

Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will loose that amount and will not even blink.

You're right, mate. Only rich people can afford to spend enormous amounts of money, even for a single use of their money, for example, shopping.
But for those who don't have much money, having 1M USD is still a dream and we will feel frustrated if we spend it only on gambling.
That kind of money can provide for our living needs for many years for people who live in countries where the cost of living is not high.
We can only learn from what others have obtained so that we can take what is good to apply to us and leave what is not good.

It's indeed, obvious that the gambler who did that is rich, many members here regretted that he made that bet, while the bettor himself can't see any regret or remorse for what he did.

   For rich people, they won't feel the value of 1M$ but for those who aren't, of course maybe even just 20k$ is too much regret for us or maybe we haven't agreed to bet that amount too.

It is a very simple matter. A rich man likes to bet big. It's no surprise that his small bet amounts can be sky-high for many gamblers. But when gambler loses by betting on such odds, it can be a concern for everyone. 1.4 million dollars not less amount. No matter how big a bettor loses, he must have regrets. We know that people learn for mistakes so, such learning is necessary.

A million is something an amount that you cant really just ignore that easily on where you would really be having regrets on why you had bet on such big amount just because you do believe that it was a one side game? This is one of the biggest mistake of someone to do so, even how rich you are or does have lots of money you would be still be able to hit hard on your finances if you do bet up this way.

So it would really be a lesson learned for that guy who do make out huge bets on a game which does offer below 1.01 which i dont know on where they do really get up that much of idea
that its a 100% win even if its not.Small chances or even close to impossible could snip out and destroy the entire expecations.

[Bushdark]

These extremly low odds are the worst thing you can possibly use on gambling websites.

Do not forget that there are people that had been making consistent profits from the small odds you are against. Everybidy has things that works for them that might not work for you. Gambling is just all about what works for us so you can think that there are not persons makingoney from that small odds. There was a time I was accustomed to using fee odds to win big profits but anytime I use big odds, I do end up losing the bets. It works for some time until the strategy stop working. Although I enjoyed the profits for a while.
I don't like greed that is why I don't use big odd to win big profits everytime.