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

[tusandii]

regarding the defeat that must be prepared to accept, it would be better to use money that we can afford to lose and not be greedy. as told by the OP the guy is like greedy betting big amount just for 1.01 or $10k win, if win. responsible for our bet it would be better.

For gamblers like us, it is highly discouraged to bet as much as possible and of course we can never allow or easily make bets with that much amount.
But he dared to take risks and spend money because he is capable and can be responsible if he has to lose that much money.
To say that he is greedy, maybe he is not greedy in betting because let's see that the amount of bets that are issued is so large, but the winnings are not comparable to those that are issued for bets.
We all don't know what the point is in spending that much money to bet but it's all a choice and we can only shake our heads because there are those who dare to take big risks by betting quite large amounts.

[mak013]

Can you believe it? $1.4 million, just for some thrills! Makes you think, doesn't it? Human behavior, it's a curious thing. Envision the heart-pounding moments of going all-in, then the soul-crushing blow when it's all gone. Talk about an emotional whirlwind!

As humans, we're always chasing that next big thrill, that sense of belonging. Sports betting, sure, it can scratch that itch. But remember, there's a catch! You gotta play it cool, or you'll wind up a sorry example for others. So, let's heed this gambler's tale, make wise choices, and share a good moment!

I don`t think that this situation is about emotions. The gambler decided that he find guaranteed income with minimal risks. But in gambling there are such situations.
PS. And now this gambler has lots of emotions of course, but i don`t think that they are positive.

[Daltonik]

Can you believe it? $1.4 million, just for some thrills! Makes you think, doesn't it? Human behavior, it's a curious thing. Envision the heart-pounding moments of going all-in, then the soul-crushing blow when it's all gone. Talk about an emotional whirlwind!

As humans, we're always chasing that next big thrill, that sense of belonging. Sports betting, sure, it can scratch that itch. But remember, there's a catch! You gotta play it cool, or you'll wind up a sorry example for others. So, let's heed this gambler's tale, make wise choices, and share a good moment!

I don't think that he did and maybe continues to do it until now only in pursuit of thrills, although this is of great importance, I think that his bet was cold and as it seemed to him a calculated calculation, but to risk $1.4 million in order to get $14,000 is super greed.

[maydna]

Can you believe it? $1.4 million, just for some thrills! Makes you think, doesn't it? Human behavior, it's a curious thing. Envision the heart-pounding moments of going all-in, then the soul-crushing blow when it's all gone. Talk about an emotional whirlwind!

As humans, we're always chasing that next big thrill, that sense of belonging. Sports betting, sure, it can scratch that itch. But remember, there's a catch! You gotta play it cool, or you'll wind up a sorry example for others. So, let's heed this gambler's tale, make wise choices, and share a good moment!

I don`t think that this situation is about emotions. The gambler decided that he find guaranteed income with minimal risks. But in gambling there are such situations.
PS. And now this gambler has lots of emotions of course, but i don`t think that they are positive.

If I were him and had a lot of money, I might do the same thing as him and spend a lot on gambling. Wealthy people may not think they are spending very much on many things, especially if they have other sources of income that are constantly pouring more money into their accounts. It is a natural thing for rich people that we may not be able to imagine how rich they are.

But we can get a valuable lesson from what he did so as not to use a lot of money and only gamble with the money we can afford. We must reduce the risk of losing money because we are not rich like them and have not become rich like them. But even though we are already rich, we don't need to gamble with a lot of money.

[batang_bitcoin]

I don`t think that this situation is about emotions. The gambler decided that he find guaranteed income with minimal risks. But in gambling there are such situations.
PS. And now this gambler has lots of emotions of course, but i don`t think that they are positive.

If this gambler is truly rich and this is just like a $100 from his $1k bankroll then he'll remain positive. But for us, even we're just watchers of this story, we truly feel terrible for the lost that he has made. There's a connection for the emotion of the gambler and I'm sure that even if he's wealthy to lose this amount, he'll still feel that he should have done something better with that money. I don't think it's all about the thrill but yeah, there can be point of our lives that we're thrilled to do something and since we're gamblers, we want to do the YOLO mentally and even if we know that it's not gonna be favorable for the result, we still push for it because of the thought that's being built on our minds and asking the question of what if.

[Wiwo]

If this gambler is truly rich and this is just like a $100 from his $1k bankroll then he'll remain positive. But for us, even we're just watchers of this story, we truly feel terrible for the lost that he has made. There's a connection for the emotion of the gambler and I'm sure that even if he's wealthy to lose this amount, he'll still feel that he should have done something better with that money. I don't think it's all about the thrill but yeah, there can be ahe point in our lives when we're thrilled to do something and since we're gamblers, we want to do the YOLO mentally and even if we know that it's not gonna be favorable for the result, we still push for it because of the thought that's being built on our minds and asking the question of what if.

No matter what the level of the gambler is, losing a high amount such as 1.4 million dollars is never a small amount and he will definitely feel it no matter what his bankroll is it is better to apply caution even though you rich.

-This case of the gambler is an acute stage of addiction and if care is not taken the gambler is already running into debt judging from his sense of game judgment and howselectst the oddsand mountainnstakese.

[rahmad2nd]

Indeed, we can only give our opinion, but it's still the gambler who can justify his action, we really don't know what happens after
and we can just assume whether he's rich, and he has the money or he can afford that such amount, he can only answer on his behalf.

All that matter is take this as a good basis when you are trying to place a huge amount thinking that with a high percentage bet you can
make decent money, even a less-chance of losing will hurt you if you mistakenly pick the game to bet on.

It is impossible to know the whole circumstances behind such an event but we can still learn some important lessons out of it, and probably the most important lesson we can learn is related to the risks we take, even if the risk of the bet seemed low it was still a risk so betting so much money was a mistake as the risk of losing was real, so even if we find ourselves in that kind of situation in which we think we have found a bet with a very ow risk we must never bet all our capital in a single event.

Even the previous OP has said, that of the gambler story that the OP told in this thread. there is a lesson for us gamblers, that there is no easy bet, even with lower odds there is always a risk in gambling. but in essence, it all comes back to each of us. because, as we know especially those who like to bet in sports betting. We will always encounter low odds, such as a very strong team fighting a weaker team. in theory, on paper the stronger team will win the battle. Unfortunately, in the world of sports, the outcome of every game cannot be predicted with certainty. which means, a strong team can be beaten by a weaker team. and sometimes, we get caught up in our gambles.

Fortunately, we don't gamble like the gamblers the OP described in this post. but what is certain, in every bet, it doesn't matter if the odds are low or high, everything carries a risk. and therein lies a unique part of the art of betting, regardless of winning or losing.

[Fredomago]

If this gambler is truly rich and this is just like a $100 from his $1k bankroll then he'll remain positive. But for us, even we're just watchers of this story, we truly feel terrible for the lost that he has made. There's a connection for the emotion of the gambler and I'm sure that even if he's wealthy to lose this amount, he'll still feel that he should have done something better with that money. I don't think it's all about the thrill but yeah, there can be ahe point in our lives when we're thrilled to do something and since we're gamblers, we want to do the YOLO mentally and even if we know that it's not gonna be favorable for the result, we still push for it because of the thought that's being built on our minds and asking the question of what if.

No matter what the level of the gambler is, losing a high amount such as 1.4 million dollars is never a small amount and he will definitely feel it no matter what his bankroll is it is better to apply caution even though you rich.

-This case of the gambler is an acute stage of addiction and if care is not taken the gambler is already running into debt judging from his sense of game judgment and howselectst the oddsand mountainnstakese.

If he will continue to lose, then everything that he has will be taken away from him. Gambling addiction can bring him down, as there are many real scenarios that it happened with gamblers who regret their fate after losing everything that they own. We can't conclude if how that person will take his fate, either he uses this strategy again and place much bigger amount of bet to recover (hope for luck) or he will move away and forget about it and move on to his life in a different route.

[tjtonmoy]

Even if the odds are in your favor, I always think of gambling as a 50/50 chance. It is gambling and that's why there isn't any 100% certainty that you will win for sure.
And to use that much money on a single bet is somewhat foolish to me. Low invest for higher profits should be the main motive in gambling, unless you are addicted to it or losing unknowingly.
And one more thing that I have to say, that why put that much on one bet? If it was me, I wouldn't do that. Was it a miscalculation? With odds like 1.008, I think not. Was it unfortunate? Yes, he was just unlucky and anything could happen anytime in life.
This is a great example to learn from.

[BobK71]

Even if the odds are in your favor, I always think of gambling as a 50/50 chance. It is gambling and that's why there isn't any 100% certainty that you will win for sure.
And to use that much money on a single bet is somewhat foolish to me. Low invest for higher profits should be the main motive in gambling, unless you are addicted to it or losing unknowingly.
And one more thing that I have to say, that why put that much on one bet? If it was me, I wouldn't do that. Was it a miscalculation? With odds like 1.008, I think not. Was it unfortunate? Yes, he was just unlucky and anything could happen anytime in life.
This is a great example to learn from.

The financial situation of the gambler who lost the bet is not the same as yours or mine. He would naturally be considered a big gambler. As a small gambler, the amount that we claim to be big but may not be much to those big gamblers. Moreover, he may have won large amounts by placing such bets in the past. In gambling winning or losing is the common feature so as much as possible to take bets with research and analysis that will be good for the betting life.

[traderethereum]

Even if the odds are in your favor, I always think of gambling as a 50/50 chance. It is gambling and that's why there isn't any 100% certainty that you will win for sure.
And to use that much money on a single bet is somewhat foolish to me. Low invest for higher profits should be the main motive in gambling, unless you are addicted to it or losing unknowingly.
And one more thing that I have to say, that why put that much on one bet? If it was me, I wouldn't do that. Was it a miscalculation? With odds like 1.008, I think not. Was it unfortunate? Yes, he was just unlucky and anything could happen anytime in life.
This is a great example to learn from.

The financial situation of the gambler who lost the bet is not the same as yours or mine. He would naturally be considered a big gambler. As a small gambler, the amount that we claim to be big but may not be much to those big gamblers. Moreover, he may have won large amounts by placing such bets in the past. In gambling winning or losing is the common feature so as much as possible to take bets with research and analysis that will be good for the betting life.

When someone uses big money to gamble, it could be that he is a big gambler who is used to using a lot of money but is not exposed to the public.
Only this time, he is told that he has lost and we know about it and assume it was a mistake or he was deliberately betting big money.
But those of us who are only small gamblers will think that money that big is not worth betting on because the risk of losing it will be greater than the wins we can get.
And yes, I agree this is a lesson for him and all of us that if we want to gamble, only use the money we can afford.

[klidex]

Can you believe it? $1.4 million, just for some thrills! Makes you think, doesn't it? Human behavior, it's a curious thing. Envision the heart-pounding moments of going all-in, then the soul-crushing blow when it's all gone. Talk about an emotional whirlwind!

As humans, we're always chasing that next big thrill, that sense of belonging. Sports betting, sure, it can scratch that itch. But remember, there's a catch! You gotta play it cool, or you'll wind up a sorry example for others. So, let's heed this gambler's tale, make wise choices, and share a good moment!

I don't think that he did and maybe continues to do it until now only in pursuit of thrills, although this is of great importance, I think that his bet was cold and as it seemed to him a calculated calculation, but to risk $1.4 million in order to get $14,000 is super greed.

A gambler who has a greedy nature will certainly always chase sensations that make him feel happy even though he has to take too big risks.
I said the man who bet 1.4 million is a brave man who is ready to take all the risks he will get, even though it is true that he lost, this will be a lesson for him not to do that again.
But what I'm thinking right now is if that man lost such a large amount because of greed, would he chase his losses or choose to stop gambling for a few months or even a few years.
Because gamblers are usually greedy, they will chase their losses more often and lose in a row.

[tjtonmoy]

The financial situation of the gambler who lost the bet is not the same as yours or mine. He would naturally be considered a big gambler. As a small gambler, the amount that we claim to be big but may not be much to those big gamblers. Moreover, he may have won large amounts by placing such bets in the past. In gambling winning or losing is the common feature so as much as possible to take bets with research and analysis that will be good for the betting life.

Make sense now. It is a big deal for us, but for him, it's a piece of cake. But the fact is, anything could happen in gambling, even the odds are on your side. Even with good analysis, you could still lose. As we can say that he is a big gambler, he will definitely have good knowledge on analysis. So the lesson to learn from this is already there. Proceed with caution. 

[so98nn]

The financial situation of the gambler who lost the bet is not the same as yours or mine. He would naturally be considered a big gambler. As a small gambler, the amount that we claim to be big but may not be much to those big gamblers. Moreover, he may have won large amounts by placing such bets in the past. In gambling winning or losing is the common feature so as much as possible to take bets with research and analysis that will be good for the betting life.

Make sense now. It is a big deal for us, but for him, it's a piece of cake. But the fact is, anything could happen in gambling, even the odds are on your side. Even with good analysis, you could still lose. As we can say that he is a big gambler, he will definitely have good knowledge on analysis. So the lesson to learn from this is already there. Proceed with caution. 

The response on this thread has got some different swag really.
Why not, it’s million dollar bet and everything was lost in a blink of an eye. That’s ridiculously crazy amount and yes guy must be rich enough to fund his account with that much amount of money. 

I don’t think we need any other clue to understand whether gambler was rich or not. Lolz.

However, it was really stupid idea to go that way. Though odds were low, it’s a casino with proper algorithm set to keep up the casinos financial health on the higher side always.

Never underestimate the world of gambling. :-P

[Dunamisx]

Even if the odds are in your favor, I always think of gambling as a 50/50 chance. It is gambling and that's why there isn't any 100% certainty that you will win for sure.
And to use that much money on a single bet is somewhat foolish to me. Low invest for higher profits should be the main motive in gambling, unless you are addicted to it or losing unknowingly.
And one more thing that I have to say, that why put that much on one bet? If it was me, I wouldn't do that. Was it a miscalculation? With odds like 1.008, I think not. Was it unfortunate? Yes, he was just unlucky and anything could happen anytime in life.
This is a great example to learn from.

It's not even much about the odds but rather the stake which is extremely high, there are some extent one can be in life to have warrant using that kind of amounts to gamble, it's either you stole the money or you're very rich and into money in this gambling business to have thought of using such amount for gambling, odds doesn't make one win or loose, it rather gives one clue on the next step in action to look before leaping.

[Muba20]

I see gambling as a platform for taking risks, so I have no complaints about the odds or stakes. Because he was the owner of his money, he was proceeding according to his plan. So I can't blame him for his defeat. It is usually a part of gambling. Gambling should never become addictive or panicky which can drain the gambler's money.

[mak013]

Can you believe it? $1.4 million, just for some thrills! Makes you think, doesn't it? Human behavior, it's a curious thing. Envision the heart-pounding moments of going all-in, then the soul-crushing blow when it's all gone. Talk about an emotional whirlwind!

As humans, we're always chasing that next big thrill, that sense of belonging. Sports betting, sure, it can scratch that itch. But remember, there's a catch! You gotta play it cool, or you'll wind up a sorry example for others. So, let's heed this gambler's tale, make wise choices, and share a good moment!

I don`t think that this situation is about emotions. The gambler decided that he find guaranteed income with minimal risks. But in gambling there are such situations.
PS. And now this gambler has lots of emotions of course, but i don`t think that they are positive.

If I were him and had a lot of money, I might do the same thing as him and spend a lot on gambling. Wealthy people may not think they are spending very much on many things, especially if they have other sources of income that are constantly pouring more money into their accounts. It is a natural thing for rich people that we may not be able to imagine how rich they are.

But we can get a valuable lesson from what he did so as not to use a lot of money and only gamble with the money we can afford. We must reduce the risk of losing money because we are not rich like them and have not become rich like them. But even though we are already rich, we don't need to gamble with a lot of money.

Look at his bet more attentively. He don`t want to spend money or to get emotions. He tried to get easy money for small odds. But the gambling can surprise. He made all his possible to decrease risk and get money.
I always say that the gambling must be for fun. In all other situation you`ll get the moment of disappoint in gambling. And it will be a good situation if you willn`t lose all your money.

[maydna]

Can you believe it? $1.4 million, just for some thrills! Makes you think, doesn't it? Human behavior, it's a curious thing. Envision the heart-pounding moments of going all-in, then the soul-crushing blow when it's all gone. Talk about an emotional whirlwind!

As humans, we're always chasing that next big thrill, that sense of belonging. Sports betting, sure, it can scratch that itch. But remember, there's a catch! You gotta play it cool, or you'll wind up a sorry example for others. So, let's heed this gambler's tale, make wise choices, and share a good moment!

I don`t think that this situation is about emotions. The gambler decided that he find guaranteed income with minimal risks. But in gambling there are such situations.
PS. And now this gambler has lots of emotions of course, but i don`t think that they are positive.

If I were him and had a lot of money, I might do the same thing as him and spend a lot on gambling. Wealthy people may not think they are spending very much on many things, especially if they have other sources of income that are constantly pouring more money into their accounts. It is a natural thing for rich people that we may not be able to imagine how rich they are.

But we can get a valuable lesson from what he did so as not to use a lot of money and only gamble with the money we can afford. We must reduce the risk of losing money because we are not rich like them and have not become rich like them. But even though we are already rich, we don't need to gamble with a lot of money.

Look at his bet more attentively. He don`t want to spend money or to get emotions. He tried to get easy money for small odds. But the gambling can surprise. He made all his possible to decrease risk and get money.
I always say that the gambling must be for fun. In all other situation you`ll get the moment of disappoint in gambling. And it will be a good situation if you willn`t lose all your money.

It is possible that he intended to chase big wins so he boldly gambled with big money but lost. It's fine to have money to gamble but if that money is from his savings, he will regret it very much and maybe he could end his life because of that big loss.

Betting with emotions can make us lose control and not be able to think straight because all we have in our minds is to earn big money by placing big bets. And we will not realize what we will experience in life if we experience that big defeat. Don't let us experience a big defeat like him. Otherwise, we must feel what we are doing is a waste.

[mindrust]

He was going to lose that money even if played dice to roll a number less than 99. (<95 probably because of the house edge) That's how gambling works in the end. Just because the chances are saying you are going to win 99% don't mean there isn't a 1% chance to lose. And wagering $1.4 million? I can imagine that was way more money than he could afford to lose unless he has multi hundred millions lying around him. Maybe he will learn something from this expensive lesson and pass down his findings to the next generations and his children won't be as dumb as him.

[knowngunman]

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?

To me this is absolute stupidity and waste of resources. For God sake, how on earth can you use $1.4m on 1.008 odd? What do you intend to gain? Don't tell me betting is about fun and pleasure. The person must be a psycho else no sane human will do such with that kind of money. If he's tired of possessing the money, he should have given it out to orphanage or better still invest in something meaningful. Buying Bitcoin with such amounts will change his life for better in the future. There's no argument that will justify and convince me of his gaffe.