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

[Hispo]

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.

Mostly I go for low odds, so I can extend the gambling session for longer than usual, with my tight budget if I went for big enough odds I would probably only last playing less than 5 minutes before reaching my losing threshold. At least, with small odds I have got more control over what I am risking.

[DoublerHunter]

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.

^If you are able to win that is all about luck and not just because how much the percentage of the odds.
But you are definitely right, manage your temper and your greed so that you don't have a big loss, the thing that causes you to become an empty pocket is that you are chasing your loss. Whatever happens, don't chase your loss because it may lead to frustration while gambling, and it can be out of your focus. So for me, gambling is based on luck and nothing more, stop when luck was not on your side.

[coinerer]

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.

Intelligence and strategy do not always work in gambling, many times even professional gamblers lose in gambling. So whether a professional gambler or a new gambler.  While gambling one should always make every single bet with a small amount of dollars otherwise there is a chance of losing huge sums at some point.  And it would be better if no one gambled constantly. People who gamble only for fun never suffer big losses. Those who become addicted to gambling and continue to gamble for earning  money always suffer big losses.

[l3pox]

Any chance. Even if small. That this was a fat finger mistake?

It reminds me of Taleb’s concepts on avoiding ruin at all costs
Let’s just hope this wasn’t a big percentage of the gamblers money. But I could bet this is not the case

[worldofcoins]

I have lost 1.01 odd before, I have lost 1.05 odd more than ones before, I have lost 1.02 several times that let me know that going for lower odds is stupidity, it will only encourage you to increase the money you use to stake and losses is still possible. It is a means of getting addicted too.

I have won 1.25 to 2 odds before very well, if I take higher odd with lower amount of money and lose, it is better than going for lower odds with high amount of money.

It is certainly concerning to hear about a gambler losing a vast amount of money playing a bet with odds as low as 1.008. This serves as a reminder that there is always a risk involved in gambling, even with seemingly low odds. I would suggest everyone play at a safe level with a certain amount after proper research so the risk of financial loss should be minimized.

[Haunebu]

Any chance. Even if small. That this was a fat finger mistake?

It reminds me of Taleb’s concepts on avoiding ruin at all costs
Let’s just hope this wasn’t a big percentage of the gamblers money. But I could bet this is not the case

That's totally possible especially considering the fact that it was a live bet where the chances of making such mistakes are drastically higher when compared to pre-game bets. This is even worse when compared to making no such mistake.

I do feel that the gambler is a whale just like you, but the loss will still sting regardless if you ask me.

[Wiwo]

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.

More appropriate to say that those who risk on small odds sometime have a greater chance of winning even though the rewards from small odds may be small compared to that of bigger odds but also to should know that there are a lot of other factors that may contribute to the outcome of a bet no matter the odds.
-You should not use the word consistent winning,  because there is nothing like consistency in bets outcome.
-The situation is bound to change at regular intervals since the situation changes from time to time depending on the advantage presented to each team during the play.

[bettercrypto]

<snip>

Personally I don't think it's a bad decision. I had this similar strategy before (of course with extremely lower amount than what has been mentioned in the OP). This strat worked for me. I barely lose any round from those bets.
I would say that this time, he got very unlucky. Above all, this is gambling regardless of how little the odds of losing, you can still lose. I hope that bettor was aware of the risk.

I don't think the bettor had anything in his mind that he would lose, nor did he doubt that he didn't feel the risk that he took, to be honest.

    Then one more thing, it's not our problem if the bettor lost by a large amount, although, most of us here can't deny that we regretted the 1M$ that the bettor bet, they seemed to be sorry, in fact, there are many of us can be bought for that 1M$.

[michellee]

<snip>

Personally I don't think it's a bad decision. I had this similar strategy before (of course with extremely lower amount than what has been mentioned in the OP). This strat worked for me. I barely lose any round from those bets.
I would say that this time, he got very unlucky. Above all, this is gambling regardless of how little the odds of losing, you can still lose. I hope that bettor was aware of the risk.

I don't think the bettor had anything in his mind that he would lose, nor did he doubt that he didn't feel the risk that he took, to be honest.

    Then one more thing, it's not our problem if the bettor lost by a large amount, although, most of us here can't deny that we regretted the 1M$ that the bettor bet, they seemed to be sorry, in fact, there are many of us can be bought for that 1M$.

What the bettor feels is only the feeling of wanting to gamble and trying to win the game but unfortunately, this is not accompanied by receiving any results when he is done gambling. For rich people, it doesn't matter that they have lost that big, but not for people who really hope to win and use a lot of money to gamble. We will be very sorry if we lose that $1 million and maybe we will think about ending our lives. For this reason, we have to really think about how much money we will use for gambling and always think about what if we lose. Are we ready for the loss?

[Silberman]

Any chance. Even if small. That this was a fat finger mistake?

It reminds me of Taleb’s concepts on avoiding ruin at all costs
Let’s just hope this wasn’t a big percentage of the gamblers money. But I could bet this is not the case

This seems unlikely, the bet was likely made at a fiat casino and the bet had very high chances to be won at that point, to me the most likely scenario was that the gambler simply thought of this as free money and took the bet with everything they had at their account at the time, only for the very worst scenario to materialize and lose everything they had, just like you I hope this was not all his money but I have my reasons to believe this was the case.

[Fivestar4everMVP]

Any chance. Even if small. That this was a fat finger mistake?

It reminds me of Taleb’s concepts on avoiding ruin at all costs
Let’s just hope this wasn’t a big percentage of the gamblers money. But I could bet this is not the case

This seems unlikely, the bet was likely made at a fiat casino and the bet had very high chances to be won at that point, to me the most likely scenario was that the gambler simply thought of this as free money and took the bet with everything they had at their account at the time, only for the very worst scenario to materialize and lose everything they had, just like you I hope this was not all his money but I have my reasons to believe this was the case.

I absolutely agree with you, looking at the odds, we can clearly understand that the gambler really believed that the game would come out as a win, so like you said , he decided to bet everything he had so as to get the profit up to $11,000 which is actually a lot of money to make in one day, but unfortunately for him or her, things turned out as it did with Argentina vs Saudi Arabia game last year in 2022 world cup, and this guy lost his money, i honestly believe that the guy gambled all his money away, it is very possible.

[rahmad2nd]

~snip~

~snip~

^If you are able to win that is all about luck and not just because how much the percentage of the odds.
But you are definitely right, manage your temper and your greed so that you don't have a big loss, the thing that causes you to become an empty pocket is that you are chasing your loss. Whatever happens, don't chase your loss because it may lead to frustration while gambling, and it can be out of your focus. So for me, gambling is based on luck and nothing more, stop when luck was not on your side.

Of course it really has to do with how big the percentage of available odds is. a matter of luck, that is another matter. but based on the odds, the dealer gives the percentage of which team is more superior to win the match. imagine, if in a sports match it is only about luck. then, why do bookies provide varying odds. So, it's about the skills of the players, the depth of the team, the strength of the team, because of that the bookie gives lower odds on the stronger team. and gives high odds, to the opposing team that is not favored.

But by the way, I agree with the other points you mentioned. at least, we must avoid chasing losses that have been lost before and make gambling just entertainment and fun.

[RILWAN]

In the case of this gambler, it is a clear case of gambling addiction if not how can a player bet a woooping 1.4 million on a bet simply because he is following odds, this is a clear case of disorder and the individual should be checked to avoid a future bad situation.

[Hamphser]

Any chance. Even if small. That this was a fat finger mistake?

It reminds me of Taleb’s concepts on avoiding ruin at all costs
Let’s just hope this wasn’t a big percentage of the gamblers money. But I could bet this is not the case

This seems unlikely, the bet was likely made at a fiat casino and the bet had very high chances to be won at that point, to me the most likely scenario was that the gambler simply thought of this as free money and took the bet with everything they had at their account at the time, only for the very worst scenario to materialize and lose everything they had, just like you I hope this was not all his money but I have my reasons to believe this was the case.

Going all in? No one really knows if that guy had put up all of his riches on that particular moment or bet which there's no way on finding it out but i doubt that it is really just a part of his money and its true that

he had made out some all in kind of betting which he had really though that this is really just an easy money for him on a particular game.Assuring 100% winning chance? This doesnt happen on betting world.

Yes, we could say on which games are one sided but its never been that recommendable that you should really be doing some all in type of betting behavior.
It would really wrekt you up big time.

[Dunamisx]

Any chance. Even if small. That this was a fat finger mistake?

It reminds me of Taleb’s concepts on avoiding ruin at all costs
Let’s just hope this wasn’t a big percentage of the gamblers money. But I could bet this is not the case

It's left for the gambler on the actual fact about this matter, but i know that having such experience with other gamblers isn't a new thing anymore, many have lost away more than that or even below without being left with an alternative, you gamble, you take risk, you win it's turns your money and when you loose as well it return to the casino, but the source to the money used get to be in question, don't be freaking busy for nothing with gambling odds that changes nothing about your winning or loosing.

[khaled0111]

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.

At first glance, betting only on low odds may seem a good and a profitable strategy but in practice it's not.
First, to make a good profit from low odds, you need to wager high amounts. Hence, if you lose even a single bet (although the probability of this happening is very low) the loss will be painful and you will have hard time to recover what you lost.
The only good thing about this strategy is that it allows you to extend the session for too long.

[Zlantann]

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?

Most major losses in gambling are caused by greed and discontentment. A successful gambler must know when to walk away even in the period of wins or loses. It is true that we all try to recover losses by betting more but most reports shows that it leads to more losses.

My advise is that every gambler must have a plan for his gambling  lifestyle and a budget should be attached to this plan. We shouldn't also see gambling as a major source of revenue or a full time job. It should be seen as a source of entertainment or passive income. It is also important to be disciplined. We must set boundaries for our gambling activities so that we will be aware of when to gamble and when to walk away.

[slapper]

Any chance. Even if small. That this was a fat finger mistake?

It reminds me of Taleb’s concepts on avoiding ruin at all costs
Let’s just hope this wasn’t a big percentage of the gamblers money. But I could bet this is not the case

This seems unlikely, the bet was likely made at a fiat casino and the bet had very high chances to be won at that point, to me the most likely scenario was that the gambler simply thought of this as free money and took the bet with everything they had at their account at the time, only for the very worst scenario to materialize and lose everything they had, just like you I hope this was not all his money but I have my reasons to believe this was the case.

Going all in? No one really knows if that guy had put up all of his riches on that particular moment or bet which there's no way on finding it out but i doubt that it is really just a part of his money and its true that

he had made out some all in kind of betting which he had really though that this is really just an easy money for him on a particular game.Assuring 100% winning chance? This doesnt happen on betting world.

Yes, we could say on which games are one sided but its never been that recommendable that you should really be doing some all in type of betting behavior.
It would really wrekt you up big time.

No one can say for certain whether or not the individual who placed the wager truly risked all of their wealth by doing so. In the realm of gambling, there is never any assurance that a player will have a hundred percent probability of winning. Although certain games could seem to be unfair, it is never a good idea to depend primarily on that and you should always play properly. Going all in might be appealing, but doing so runs the risk of causing you to lose everything and putting you in a worse situation than you were in before. Because of this, it is essential to constantly have a sound game plan and to avoid allowing our emotions to cloud our judgments.

[traderethereum]

In the case of this gambler, it is a clear case of gambling addiction if not how can a player bet a woooping 1.4 million on a bet simply because he is following odds, this is a clear case of disorder and the individual should be checked to avoid a future bad situation.

It could be that the person who has lost is just an ordinary gambler who is not addicted to gambling but wants to win the game by using lots of money as a bet.
All we know is that person has suffered so many defeats that we can't even imagine if that happened to us.
Well, maybe the person needs to be checked to see if he has a gambling addiction or if he just lost control because he wanted the big win.
But it should be avoided by all gamblers because it is not worth using a lot of money to gamble, especially small gamblers.

[Shamm]

In the case of this gambler, it is a clear case of gambling addiction if not how can a player bet a woooping 1.4 million on a bet simply because he is following odds, this is a clear case of disorder and the individual should be checked to avoid a future bad situation.

It could be that the person who has lost is just an ordinary gambler who is not addicted to gambling but wants to win the game by using lots of money as a bet.
All we know is that person has suffered so many defeats that we can't even imagine if that happened to us.
Well, maybe the person needs to be checked to see if he has a gambling addiction or if he just lost control because he wanted the big win.
But it should be avoided by all gamblers because it is not worth using a lot of money to gamble, especially small gamblers.

I think that gambler is addicted because as we can see that 1.4million USD is very big money. I think that gambler is not contented on what he/she have or Greed is controlling him as was all know that once a tour greed will control then you don't care if you will loss and only thing came up your mind that you will Win and win .
We can not denied the fact that once we loss we need to revenge and win.