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

[klidex]

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 is 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.

Such an incident would not be the first and several times we must have heard of someone who lost millions of dollars in sports betting.
Indeed, in sports betting there will always be unexpected surprises like the 1% you said, like winning but in the end losing when the opposing team scores in the final minutes.
So this incident I think is natural because it has happened before and I don't think he lost 1.4 million dollars not a problem for him because usually gamblers bet using large amounts he is someone who is very rich who has a lot of money.
But after all someone who is rich but loses that much money, will definitely experience deep disappointment.

[Fredomago]

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.

An outcome of un-control gambling activities, I agree that betting with emotions can triggered your aggressive approach and without luck the outcome will always in favor of the house, though despite of a high chance winning pick the gambler who bet this huge amount still lose his money, it can be an easy money if shit didn't happen on him.

But we all know that inside gambling everything is possible and that will serve as a good example to prevent thinking that you can easily come out with decent benefits, as the outcome may turn against you.

[maydna]

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.

An outcome of un-control gambling activities, I agree that betting with emotions can triggered your aggressive approach and without luck the outcome will always in favor of the house, though despite of a high chance winning pick the gambler who bet this huge amount still lose his money, it can be an easy money if shit didn't happen on him.

But we all know that inside gambling everything is possible and that will serve as a good example to prevent thinking that you can easily come out with decent benefits, as the outcome may turn against you.

And instead of getting that huge defeat, we should always try to control ourselves so we don't think that using big money can give us big wins. Using big money will not guarantee that we can get big wins, but what is certain is that we can experience big losses, especially if we lose control.

Betting on emotions only accelerates the loss of money instead of trying to enjoy the moment of gambling. And we certainly will not be able to accept if we experience defeat. Therefore, try not to continue the game if your emotions start rising. Immediately stop playing and leave the casino.

[mak013]

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.

I don`t think it is so. And we know about this bet just because he lost it. I`m sure that there are lots of same winning bets.
Of course we can`t know the truth without information from this gambler and i don`t think that he`ll tell anything, but it possible that it isn`t all his money and he can make several such bets one time. And the other bets win.

[len01]

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.

maybe you don't understand a little, if that guy wasn't greedy, he wouldn't have spent a large amount of money for the odds of 1.01,
the reason I say the man is greedy is because he spends money on bets with large numbers just for the sake of winning that is not proportional to the amount of the bet. even though he can afford to lose but to lose a large amount, isn't that greed?

just try to do sports betting betting at small odds for example 1.01 and you place a bet of $ 100 or $ 500, won't you feel if you are too greedy in betting and it would be better if you bet $ 10 or $ 20 for each match.

[batang_bitcoin]

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.

Yeah, a commoner like me would be feeling embarassed even if I'm not known online. It just so freaking depressing if I'm the one who has lost that amount because $1.4M is such a huge amount that's gonna make my life good for a long time or maybe a life time.
But I guess I'm still a dollar or a quarter richer than of those gamblers that have lost a lot and living with their paycheck to paycheck lives and has got a lot of debts and are now in trap and don't know what to do. This is still a way better type of living rather than thinking of those mishaps that have been found and generated by their gambling addictions.

[Fredomago]

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.

An outcome of un-control gambling activities, I agree that betting with emotions can triggered your aggressive approach and without luck the outcome will always in favor of the house, though despite of a high chance winning pick the gambler who bet this huge amount still lose his money, it can be an easy money if shit didn't happen on him.

But we all know that inside gambling everything is possible and that will serve as a good example to prevent thinking that you can easily come out with decent benefits, as the outcome may turn against you.

And instead of getting that huge defeat, we should always try to control ourselves so we don't think that using big money can give us big wins. Using big money will not guarantee that we can get big wins, but what is certain is that we can experience big losses, especially if we lose control.

Betting on emotions only accelerates the loss of money instead of trying to enjoy the moment of gambling. And we certainly will not be able to accept if we experience defeat. Therefore, try not to continue the game if your emotions start rising. Immediately stop playing and leave the casino.

You need this kind of limitation in order to not to proceed if you already feel that your emotions is the one who's dominating inside you, it will prevent you in losing a huge amount of money and like what you have said, the entertainment is no longer present but it's already been replace by lust and desire to win the game.

With how huge the amount that is being wasted with such a mistake, I can see if that happened to me. Regret and depressions will take place.

[Gustici]

The second stage of the $200k Fast Money Challangehas just begun at fairspin, you can raise an additional $40k if you collect the most tokens just by playing in the casino. I love fs for such generous tournaments

[Wiwo]

Yeah, a commoner like me would be feeling embarassed even if I'm not known online. It just so freaking depressing if I'm the one who has lost that amount because $1.4M is such a huge amount that's gonna make my life good for a long time or maybe a life time.
But I guess I'm still a dollar or a quarter richer than of those gamblers that have lost a lot and living with their paycheck to paycheck lives and has got a lot of debts and are now in the trap and don't know what to do. This is still a way better type of living rather than thinking of those mishaps that have been found and generated by their gambling addictions.

I can't imagine myself betting away such an amount I'm one bet, in fact, if I have that amount of money I will retire because, in my part of the world, 1.4 million dollars is quite a big amount.

-Ops may not feel it that way, since he seems to be a big bag holder and money is not the problem for him but I am sure this situation will affect his physical and mental health for some time before gets get over it.

[AHOYBRAUSE]

There was a time and a place I also made some 10k bets on odds below 1.1 .

That was some excitement I can I can tell you, until I lost one of these. 

It's only fun as long as it lasts, haha.
I remember 1 bet, thats actually the biggest comeback in Dallas Mavericks history, I bet against them.

Or 1 time I backed Federer against Tsonga, he lost the first set , then I backed him at 1.6 to win the match. 2nd set easy, 3rd set 5:1 and then it all fell apart. Tsonga had odds of 500 and 800:1 at betfair and I didn't do it, didn't want to waste 3$ of my 2000$ win. Would have cleared 2k on bot sides of I make the trade. Would, should, could.....

Biggest miss and lesson of my life. Don't let greed take over.

Betting these odds with these amounts is a risky dance.

[Silberman]

Without a doubt this is the kind of thing that sounds ridiculous to us as we would never make such a bet and experiment such loss, but just because we are incapable of doing something, this does not necessarily mean that it is impossible, there are many people out there with more money than common sense which are not afraid to make such high bets as losing that money means nothing to them, and there are also people out there with no control over their gambling whatsoever that can also make those bets despite the huge risks they know they are taking.

No matter how much money you have, it is not the right decision to bet 1.4M on a bet with odds of 1.01. When you play a bet or do any financial business, you need to see the risk and reward ratio and do not enter in bets where the risk is too high and the reward is too low.

Some people may argue that how the risk is high when the odds are 1.01. This means that 99% chances are that you will win the bet. But then think it in another way around. You are risking 1.4M to get the reward of 0.01. Since, future is not certain and if the result went against you as it happened with the OP, then you will lose this big amount. It is way too risky and scary for me to lose a million dollar in order to earn few hundred dollars.

Correct, 1.4 million dollars is a lot of money regardless of where you are around the world, so you could have easily started a business or buy some real estate with that money and you could have obtained way more profits than with that bet, which leads me to think that the person making that bet had some gambling issues, as even if a person has a lot of money they do not get there by making those kind of bets, so most likely the person which made that bet lost all the money they had at the time.

[Desmong]

The second stage of the $200k Fast Money Challangehas just begun at fairspin, you can raise an additional $40k if you collect the most tokens just by playing in the casino. I love fs for such generous tournaments

Sometimes we think that it is very easy for us to make a winning just like we usually think. Gambling is always unpredictable that is why we need to know.what we are doing so that we will not go and use our money that we supposed to use for a better thing for something that will make us lose completely. Indo try my best to make sure I gamble responsibly.

[blockman]

Sometimes we think that it is very easy for us to make a winning just like we usually think. Gambling is always unpredictable that is why we need to know.what we are doing so that we will not go and use our money that we supposed to use for a better thing for something that will make us lose completely.

That's why odds whether they're at the lowest, you may still potentially lose that bet. And having that much money seems to be freaking out when you seem to have nothing else to do with it. It's just rich problems and I don't think that I'll come up to that point in my life that I'll be doing that even if I'm sure with my bet that it's well-researched. Still, I don't trust that since gambling is genuinely unpredictable and games have a lot of unexpected outcomes.

Indo try my best to make sure I gamble responsibly.

You should really do it because if you don't, you won't notice that you're losing more from what's expected on your budget.

[Newlifebtc]

The second stage of the $200k Fast Money Challangehas just begun at fairspin, you can raise an additional $40k if you collect the most tokens just by playing in the casino. I love fs for such generous tournaments

Sometimes we think that it is very easy for us to make a winning just like we usually think. Gambling is always unpredictable that is why we need to know.what we are doing so that we will not go and use our money that we supposed to use for a better thing for something that will make us lose completely. Indo try my best to make sure I gamble responsibly.

winning in gambling is something that come with love because it does not come with your own personal prediction your prediction is not accurately cannot learn how to predict again so I believe that whoever that is lucky enough to win a gambling that is based on its own lock that moment so there is no place someone can say that they stole the prediction and predictions there Ender always be perfect so I don't think that such is it in life is such happened I think is a fallacy

[Fatunad]

Without a doubt this is the kind of thing that sounds ridiculous to us as we would never make such a bet and experiment such loss, but just because we are incapable of doing something, this does not necessarily mean that it is impossible, there are many people out there with more money than common sense which are not afraid to make such high bets as losing that money means nothing to them, and there are also people out there with no control over their gambling whatsoever that can also make those bets despite the huge risks they know they are taking.

No matter how much money you have, it is not the right decision to bet 1.4M on a bet with odds of 1.01. When you play a bet or do any financial business, you need to see the risk and reward ratio and do not enter in bets where the risk is too high and the reward is too low.

Some people may argue that how the risk is high when the odds are 1.01. This means that 99% chances are that you will win the bet. But then think it in another way around. You are risking 1.4M to get the reward of 0.01. Since, future is not certain and if the result went against you as it happened with the OP, then you will lose this big amount. It is way too risky and scary for me to lose a million dollar in order to earn few hundred dollars.

Correct, 1.4 million dollars is a lot of money regardless of where you are around the world, so you could have easily started a business or buy some real estate with that money and you could have obtained way more profits than with that bet, which leads me to think that the person making that bet had some gambling issues, as even if a person has a lot of money they do not get there by making those kind of bets, so most likely the person which made that bet lost all the money they had at the time.

Whether he do go all in or he could really afford on taking or making up millions of dollars on the bets he do make.We do know that there are really people on this world whose really that extremely rich which they do bet out on amounts which would really boggle up our minds on how the heck they would be able to afford on losing those amounts considering that dealing with gambling does impose huge risks no matter how small the odds are but it wont really be giving out assurance that it would really be resulting into a sure win.Always have that small chance for everything to turn around which is something not that recommendable
if we do speak about all in bets.

[tusandii]

Gambling should never become addictive or panicky which can drain the gambler's money.

Indeed, gambling should not be addictive or panic because it can drain all the money you have.
But unfortunately 80% of gamblers are definitely addicted and actually become addicts, especially for those who have more money, it will easily become a gambling addict.
Nothing can stop friend's gambling addiction because it is innate because you are happy when playing gambling so curiosity continues to arise to make someone unable to stop gambling.
Even though this is not a good thing, in reality gamblers spread all over the world will sooner or later experience it.

[traderethereum]

winning in gambling is something that come with love because it does not come with your own personal prediction your prediction is not accurately cannot learn how to predict again so I believe that whoever that is lucky enough to win a gambling that is based on its own lock that moment so there is no place someone can say that they stole the prediction and predictions there Ender always be perfect so I don't think that such is it in life is such happened I think is a fallacy

But if you gamble on sports betting, you will find that you have a good chance of winning by predicting a match well.
And that's why you must keep learning to analyze by gathering more info about the match to choose the right team.
And even though your prediction may not meet your expectations this time, you can still predict for the next game.
We also can't predict exactly. After all, we won't know how the match will go because maybe in the middle of the match, we will see changes from each team.

[KiaKia]

We won't be having this discussion right now if this person won the bet, I don't feel sorry for him because he was ready to lose the money, every one percent chance of winning a gamble doesn't clarify the winning, also it's hard to believe that this person is someone who is been greedy, he is rich because the money he lost is enough to change the life of many, he won't dare throw that away to gambling if he has no other big money like what he lost.

[delfastTions]

We won't be having this discussion right now if this person won the bet, I don't feel sorry for him because he was ready to lose the money, every one percent chance of winning a gamble doesn't clarify the winning, also it's hard to believe that this person is someone who is been greedy, he is rich because the money he lost is enough to change the life of many, he won't dare throw that away to gambling if he has no other big money like what he lost.

But it is possible that this whole story about such a huge loss may well be just a fabrication in order for people to discuss gambling itself more. 
And more people would gamble.  And by the way, these players, purely psychopogically, would make big bets, more than they did before.  There is also an option that such a loss is negotiable and the losing player did not really lose such a lot of money. 
So it is not clear what is true here, and what is just fiction and lies, which are actually hidden advertising of gambling.  Or, it may be a hidden advertisement of a particular casino or bookmaker. 

So I would not trust such information about a colossal loss at 100%

[Porfirii]

We won't be having this discussion right now if this person won the bet, I don't feel sorry for him because he was ready to lose the money, every one percent chance of winning a gamble doesn't clarify the winning, also it's hard to believe that this person is someone who is been greedy, he is rich because the money he lost is enough to change the life of many, he won't dare throw that away to gambling if he has no other big money like what he lost.

But it is possible that this whole story about such a huge loss may well be just a fabrication in order for people to discuss gambling itself more. 
And more people would gamble.  And by the way, these players, purely psychopogically, would make big bets, more than they did before.  There is also an option that such a loss is negotiable and the losing player did not really lose such a lot of money. 
So it is not clear what is true here, and what is just fiction and lies, which are actually hidden advertising of gambling.  Or, it may be a hidden advertisement of a particular casino or bookmaker. 

So I would not trust such information about a colossal loss at 100%

There is an old saying that goes "think wrong and be right", but in this case I think that you are going too far away in your suspicions

Although I won't deny the possibility that this news was originally shared in order to exploit psychological flaws and encourage people to think about gambling and, therefore, gamble more, I don't think that it is just a fabrication. It is improbable, but possible, that this kind of big wins and losses happen from time to time, specially taking into account that a few millionaires like to gamble ridiculously high amounts of money for the shake of fun.

Here is an example that changed my mind and may help you change yours too: I used to consider that reality shows were totally orchestrated, scripted, until I realised that, if I was the manager of the television producer, it would be much easier for me to find people who already were the way I wanted, rather than hire actors to perform the way I wanted.

That said, it is much easier to find a unique case of a 1.4 million loss in order to create a discussion on gambling, rather than "fabricate" it to encourage discussion.