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

[Odusko]

Without information from the gambler we can`t say that it was a lesson for him. If he has an opportunity to make several same bets same time - he has good chances to get more profit than this lose.
If he makes 3-5 such bets per day - he can get more money for a month. Of course he doesn`t like this situation but i don`t sure that it is critical for him.

As long as the guy is a human being, this is a lesson for him, I simply do not know why you believe he can't learn from it. We learn every day, and even if the guy is a billionaire, he would have the pinch of pain and regret in him that he could have used the money for a better thing or do not take such a stupid risk in expectation of peanut.

Gambling could come either way, yet if we have good managerial plans and always weigh our risks and outcomes to decide right, then we are wise.

In gambling you always can lose. It is possible that this gambler has a strategy with lots of big bets with small odds. But even in such strategy he has tp remember that it is possible to lose. In such situation it can be a lesson for us - what is money management. But the same time it is possible that it is all his money and he decided that he has found a way to get easy money. Thus, he received a lesson that he no longer needs.

I think it is better to have the mindset of losing event though you intend to win, this way if the outcome of the bet does not go in your favour you can easily move on.
Gambling is always associated with losing more than winning, since the casino is designed to function that way the house is always placed at an advantage and it will take high luck to win over the house, take the ops in this situation,, for example he risk such amount because of his conviction of winning the bet, but as thing will turn in reality with casino he ends up losing a very huge amount on a sure game.

[wiss19]

Without information from the gambler we can`t say that it was a lesson for him. If he has an opportunity to make several same bets same time - he has good chances to get more profit than this lose.
If he makes 3-5 such bets per day - he can get more money for a month. Of course he doesn`t like this situation but i don`t sure that it is critical for him.

You are right that it might not be a lesson for him since he might have a very big bankroll for gambling, but it surely is a lesson for everyone else to understand that gambling is purely based on luck, so if someone with 1.01 odds can lose, then anyone with any bet can lose or maybe win if they are lucky enough but the house edge will mostly make you lose.

And what you said isn't actually true. What makes you think that he wouldn't have lost any of the other bets if he did more betting in the same time? And how can someone make any profits if they are playing with 1.01x odds and losing millions of dollars in the middle since house edge is always there?

[tusandii]

-snip-

Maybe for once I mean maybe you can collect a huge amount of winning from the house if you are so lucky but eventually if you will keep betting and keep coming back without any limitation with your bankroll, you'll just finding your self giving it back to the house and with losing streak you might deposit most if not all your savings and lose it with the house.

I like your opinion with the gambler who can minimize losses. It's the best practice not to lose huge and if luck permits, you may win some and you can stop playing with some winning amount in your pocket.

Yes, that's right, I also mean that friend, the same as you have said, because if you take advantage of winning to continue playing, the end result will only disappear, the worse can be bigger than the previous win.
One way to win for sure when you beat the house is to quit gambling forever when you hit a big hang win because then the winnings won't come back to the house.
But I'm not sure any gambler can do that.
The average gambler has a high spirit of greed so that if they succeed in winning they will use their winnings to play and produce even more wins, but without realizing it is this kind of thing that easily destroys gamblers.

[ethereumhunter]

I usually use gamble money that I afford to loss. Also try to limit my bankroll and not keep my gambling balance above a certain level. Because my gambling thought may change at any time. The gambler who keep big money undoubtedly have good betting knowledge. Those who can take such big bets are rich enough. They took risks and will take risks in the future. Such a big risk is not possible for any ordinary gambler. The strategies of those gamblers will not be similar for ordinary gamblers like us.

You have done your best to limit your money and always maintain the balance in your account. A wise gambler must be able to do this and not be swayed by the temptations of successive promotions so that we don't risk losing money. And even though we use strategy, we must also avoid using money to gamble and reduce the risks that can arise from gambling.

The best thing from this story to me is the lesson we learn from this story since the gambler who lost such an amount went overboard, and took too much of a risk to have staked such a huge amount on a single bet selection.

So the lesson is what makes the whole story essential for our discussion since we don't even know the authenticity of the story since there is no verifiable link shared along with the story, it can be a staged story without any real individual involved.

But then we can't outwrite the many lessons from the various comments and replies this has made this discussion really exciting because 1.4 million on a bet is something unbelievable to many of us.

Actually, from all of our replies, we can get a lot of lessons as you said and share many stories about our experiences. We may find it difficult to know the authenticity or continuation of the story because we also can't contact the person who experienced it. But we can learn from that story to avoid the same experience as him. And we have to spend less on gambling so we don't have the same experience as him.

[Betwrong]

If you are greedy, you often end up empty handed. That gambler from the OP was sure about making $11k out of nothing. In other words, he wanted to take all the money bet on the Jaguars, and thought it was easy. It wasn't. Even if you are so rich that you can bet over a million in one bet, don't think you are so smart too. You don't. And now all those brave gamblers that placed their bets on Jaguars are sharing your money between them.

Thinking that you can outsmart the house by placing an almost sure bet with 99% winning chances, only to find out that it will turned to the other side and the house are the one who outsmart you, they simply take away millions out of your pocket while thinking that you can just as easily cash out some thousand if in the event you got the winning team.

There's always an unusual outcome and gambling is a full of risk venue to think that you can make an easy money, always have that extra research before concluding or deciding to how you will place you bet.

I think that no one actually outsmarted him, it was just bad luck. Also the money that guy lost, $1.4 million, it didn't go to the house, did it? More than 90% of the money lost by that unfortunate guy went to the bettors who bet on the Jaguars, and the multiplier on their bet was huge, I think it was 99.00 or something.

[bitbollo]

If you are greedy, you often end up empty handed. That gambler from the OP was sure about making $11k out of nothing. In other words, he wanted to take all the money bet on the Jaguars, and thought it was easy. It wasn't. Even if you are so rich that you can bet over a million in one bet, don't think you are so smart too. You don't. And now all those brave gamblers that placed their bets on Jaguars are sharing your money between them.

Thinking that you can outsmart the house by placing an almost sure bet with 99% winning chances, only to find out that it will turned to the other side and the house are the one who outsmart you, they simply take away millions out of your pocket while thinking that you can just as easily cash out some thousand if in the event you got the winning team.

There's always an unusual outcome and gambling is a full of risk venue to think that you can make an easy money, always have that extra research before concluding or deciding to how you will place you bet.

I think that no one actually outsmarted him, it was just bad luck. Also the money that guy lost, $1.4 million, it didn't go to the house, did it? More than 90% of the money lost by that unfortunate guy went to the bettors who bet on the Jaguars, and the multiplier on their bet was huge, I think it was 99.00 or something.

Is there bad luck/luck? Well with the same result 50% people are happy/sad
The bet was not made on an exchange so it is not said that the bet was automatically "backed" by someone who has played on Jaguars... classic bookmaker's arbitrage bets work in another way.

[Jody.Drummer]

Two things can happen to that guy: he will feel pain and regret or he will feel nothing because he is still a billionaire who still has a lot of money. We also won't know what he feels, but we can still learn from him to always limit our gambling, especially using money to gamble.

Gambling can indeed provide big profits but also vice versa. We can experience big losses, especially if we can't limit the money to bet. And we must indeed weigh the risks wisely because whatever it is, we are only using gambling for fun.

The condition is still possible for both of them because we also don't know whether he is a billionaire or not
If indeed he spends all that money on one bet and he really loses everything then surely it will give him a long headache but on the other hand if it is a billionaire then they will be fine and will probably just laugh like Neymar did recently where he lost quite a lot in just over an hour.
But as you said, there is a positive side to this and of course this can also be a reminder that in gambling even if the odds are very small it doesn't mean it's something that can be won easily because something like this could happen.

[Wiwo]

Regardless of whether this event happened or not many lessons can still be learned from it, but one of the most important has to be the importance of money management on everything that we do, even something as simple as making a bet requires the use of our money management skills, and if for some reason we refuse to use them then the consequences can be incredibly severe as a single mistake can be more than enough to lose so much money that recovering from it could take us years or even our entire lifetimes.

Financial management is one of the major problems many rich kids have these days, since they are both thought the value of money by the parent who may want to pamper their kids with money while the young always result in to broken adults who can easily waste a lot of money on meaningless and highly risky things such as gambling, this has been the resultant effect of many young age addiction problem.

So teaching financial value to our kids is very important same as sex education and the rest is another value-oriented lesson that is better learnt at a young age, so from this story, the big lesson is effectively learnt and going forward, everyone of us will apply this to our daily life and adventures including gambling.

[Desmong]

We need to seek for our own safety whenever we are making bets on a Gambling platform to ensure that we take the proper risk in order not to fall Victim to loses. Greed is one reason that used to make people to make loses and if we add not serious, we are going to end up losing big eventually without opportunity to get our money back.

[delfastTions]

We need to seek for our own safety whenever we are making bets on a Gambling platform to ensure that we take the proper risk in order not to fall Victim to loses. Greed is one reason that used to make people to make loses and if we add not serious, we are going to end up losing big eventually without opportunity to get our money back.

Gambling security certainly plays a huge role in the life of any gambler. 

But if a player makes very small bets and just plays for fun and does not plan to get some really big winnings, then the issue of security is of course not that particularly important. 
But when the amounts of bets and winnings begin to amount to thousands of dollars, then of course you should take care of your safety. 
I'm not saying that the one who won more than a million dollars, as discussed in this topic, then here you should already hire bodyguards and security for operations with such a large win, or some kind of financial transactions with a rate of the same size as the one that  lost this "strange gamer" about which everyone writes from this topic.

[mak013]

In gambling you always can lose. It is possible that this gambler has a strategy with lots of big bets with small odds. But even in such strategy he has tp remember that it is possible to lose. In such situation it can be a lesson for us - what is money management. But the same time it is possible that it is all his money and he decided that he has found a way to get easy money. Thus, he received a lesson that he no longer needs.

I think it is better to have the mindset of losing event though you intend to win, this way if the outcome of the bet does not go in your favour you can easily move on.
Gambling is always associated with losing more than winning, since the casino is designed to function that way the house is always placed at an advantage and it will take high luck to win over the house, take the ops in this situation,, for example he risk such amount because of his conviction of winning the bet, but as thing will turn in reality with casino he ends up losing a very huge amount on a sure game.

Yep. It is the best way in gambling for fun. But it seems that this gambler made gambling a way of income and in such situation it is difficult if you don`t use money management. Such situation is normal for gambling, the most interesting moment is about bank of the gambler and the quantity of such bets. But we willn`t know about it i think.

Without information from the gambler we can`t say that it was a lesson for him. If he has an opportunity to make several same bets same time - he has good chances to get more profit than this lose.
If he makes 3-5 such bets per day - he can get more money for a month. Of course he doesn`t like this situation but i don`t sure that it is critical for him.

You are right that it might not be a lesson for him since he might have a very big bankroll for gambling, but it surely is a lesson for everyone else to understand that gambling is purely based on luck, so if someone with 1.01 odds can lose, then anyone with any bet can lose or maybe win if they are lucky enough but the house edge will mostly make you lose.

And what you said isn't actually true. What makes you think that he wouldn't have lost any of the other bets if he did more betting in the same time? And how can someone make any profits if they are playing with 1.01x odds and losing millions of dollars in the middle since house edge is always there?

The same time no one said, that all his bets were with the 1.01 odds. I just talking that it is possible lose for strategy of low odds bets.
And of course it is a lesson for other gamblers that there is no guarantee even with such odds.

[ethereumhunter]

Two things can happen to that guy: he will feel pain and regret or he will feel nothing because he is still a billionaire who still has a lot of money. We also won't know what he feels, but we can still learn from him to always limit our gambling, especially using money to gamble.

Gambling can indeed provide big profits but also vice versa. We can experience big losses, especially if we can't limit the money to bet. And we must indeed weigh the risks wisely because whatever it is, we are only using gambling for fun.

The condition is still possible for both of them because we also don't know whether he is a billionaire or not
If indeed he spends all that money on one bet and he really loses everything then surely it will give him a long headache but on the other hand if it is a billionaire then they will be fine and will probably just laugh like Neymar did recently where he lost quite a lot in just over an hour.
But as you said, there is a positive side to this and of course this can also be a reminder that in gambling even if the odds are very small it doesn't mean it's something that can be won easily because something like this could happen.

If he were Neymar, maybe he would laugh again but we only know that he has already lost a lot of money playing gambling, so we have to stay away from spending a lot of money like him. After all, we're not billionaires (I mean, we're not billionaires yet ).

So we better just take the positives for us so we don't play gambling with lots of money. And even though there is a possibility for us to win and it turns out we win, we must be able to stop ourselves from continuing the game and stop immediately before everything changes.

[Webetcoins]

Gambling security certainly plays a huge role in the life of any gambler. 

But if a player makes very small bets and just plays for fun and does not plan to get some really big winnings, then the issue of security is of course not that particularly important. 
But when the amounts of bets and winnings begin to amount to thousands of dollars, then of course you should take care of your safety. 
I'm not saying that the one who won more than a million dollars, as discussed in this topic, then here you should already hire bodyguards and security for operations with such a large win, or some kind of financial transactions with a rate of the same size as the one that  lost this "strange gamer" about which everyone writes from this topic.

There should be no security concerns if one is playing online, whether they win or lose unless the casino platform management themselves breach the security and privacy of the users and use their information illegally to blackmail or threaten them for money, but you can barely find such cases considering there are a lot of people using such money in gambling platforms.

The only concern for them should be their losing habit and they need to control that if they want to stop losing significant amounts of money every day. Losing millions or dollars every day can make anyone bankrupt no matter how much money they have.

[Jody.Drummer]

The condition is still possible for both of them because we also don't know whether he is a billionaire or not
If indeed he spends all that money on one bet and he really loses everything then surely it will give him a long headache but on the other hand if it is a billionaire then they will be fine and will probably just laugh like Neymar did recently where he lost quite a lot in just over an hour.
But as you said, there is a positive side to this and of course this can also be a reminder that in gambling even if the odds are very small it doesn't mean it's something that can be won easily because something like this could happen.

If he were Neymar, maybe he would laugh again but we only know that he has already lost a lot of money playing gambling, so we have to stay away from spending a lot of money like him. After all, we're not billionaires (I mean, we're not billionaires yet ).

So we better just take the positives for us so we don't play gambling with lots of money. And even though there is a possibility for us to win and it turns out we win, we must be able to stop ourselves from continuing the game and stop immediately before everything changes.

I like it when you say we are not billionaires yet, but I believe that with a long process we will become someone who will be called "billionaires" even though we don't know when the time will come. 
By becoming a billionaire, we will be able to gamble with more money than what we can spend now. I wouldn't be able to sleep losing that much money now, and if I were a billionaire I wouldn't have anything big happen after losing that kind of money. We must be able to make this motivation so that we can be like them, yes, even though we don't really have great wealth like them, but at least it exceeds the wealth we have now.

[BobK71]

The condition is still possible for both of them because we also don't know whether he is a billionaire or not
If indeed he spends all that money on one bet and he really loses everything then surely it will give him a long headache but on the other hand if it is a billionaire then they will be fine and will probably just laugh like Neymar did recently where he lost quite a lot in just over an hour.
But as you said, there is a positive side to this and of course this can also be a reminder that in gambling even if the odds are very small it doesn't mean it's something that can be won easily because something like this could happen.

If he were Neymar, maybe he would laugh again but we only know that he has already lost a lot of money playing gambling, so we have to stay away from spending a lot of money like him. After all, we're not billionaires (I mean, we're not billionaires yet ).

So we better just take the positives for us so we don't play gambling with lots of money. And even though there is a possibility for us to win and it turns out we win, we must be able to stop ourselves from continuing the game and stop immediately before everything changes.

I like it when you say we are not billionaires yet, but I believe that with a long process we will become someone who will be called "billionaires" even though we don't know when the time will come. 
By becoming a billionaire, we will be able to gamble with more money than what we can spend now. I wouldn't be able to sleep losing that much money now, and if I were a billionaire I wouldn't have anything big happen after losing that kind of money. We must be able to make this motivation so that we can be like them, yes, even though we don't really have great wealth like them, but at least it exceeds the wealth we have now.

Is a billionaire by born a billionaire? Maybe he was like us but he became a billionaire very easily due to his intelligence or luck. But not all are like that there are some who are rich by inheritance. When people have enough money, they will not hesitate to spend. Similarly, If we rich our betting amount of money will also increase. This is not unusual as it happened on the gambler's side. So I don't think the mentioned gambler's loss was not bad decision but his luck doesn't favor him.

[erep]

Is a billionaire by born a billionaire? Maybe he was like us but he became a billionaire very easily due to his intelligence or luck. But not all are like that there are some who are rich by inheritance. When people have enough money, they will not hesitate to spend. Similarly, If we rich our betting amount of money will also increase. This is not unusual as it happened on the gambler's side. So I don't think the mentioned gambler's loss was not bad decision but his luck doesn't favor him.

Everyone knows he is a billionaire because he has millions of dollars in gambling accounts, it doesn't matter whether he is a billionaire due to intelligence or luck from inheritance, we must consider the losing factor of the bet based on the discussion related to this thread, if you are a billionaire do you agree to bet 1.4 million at odds lower than 1.08, meaning if you win get $11k from that bet, sometimes lose because of bad decisions without considering the high risk of each bet and the loss can't be related to bad luck because he ignored the high risk to get a profit that is not proportional to the amount of the bet.

[ethereumhunter]

The condition is still possible for both of them because we also don't know whether he is a billionaire or not
If indeed he spends all that money on one bet and he really loses everything then surely it will give him a long headache but on the other hand if it is a billionaire then they will be fine and will probably just laugh like Neymar did recently where he lost quite a lot in just over an hour.
But as you said, there is a positive side to this and of course this can also be a reminder that in gambling even if the odds are very small it doesn't mean it's something that can be won easily because something like this could happen.

If he were Neymar, maybe he would laugh again but we only know that he has already lost a lot of money playing gambling, so we have to stay away from spending a lot of money like him. After all, we're not billionaires (I mean, we're not billionaires yet ).

So we better just take the positives for us so we don't play gambling with lots of money. And even though there is a possibility for us to win and it turns out we win, we must be able to stop ourselves from continuing the game and stop immediately before everything changes.

I like it when you say we are not billionaires yet, but I believe that with a long process we will become someone who will be called "billionaires" even though we don't know when the time will come. 
By becoming a billionaire, we will be able to gamble with more money than what we can spend now. I wouldn't be able to sleep losing that much money now, and if I were a billionaire I wouldn't have anything big happen after losing that kind of money. We must be able to make this motivation so that we can be like them, yes, even though we don't really have great wealth like them, but at least it exceeds the wealth we have now.

We have the opportunity to become billionaires from crypto especially if the bull run and altcoin season come back soon and make all our coins get their peak prices again. But if it is from gambling, I think it will be difficult for us to get rich because only a few people can become rich because of their luck.

But even though we are already billionaires, it's better not to play gambling using a lot of money because gambling can cause you to lose money. We can save money or use it to open a new business. It can provide benefits in the future if we can manage it.

[piebeyb]

We need to seek for our own safety whenever we are making bets on a Gambling platform to ensure that we take the proper risk in order not to fall Victim to loses. Greed is one reason that used to make people to make loses and if we add not serious, we are going to end up losing big eventually without opportunity to get our money back.

As you can see the OP bet big like this because he can afford to lose his bet money and he must have thought about the risk before betting, even though his hope was that it was impossible to lose the bet because the odds were low x1.01 but no one knew that he lost a lot the money in the bet. Humans can never be separated from greed because it has been inherent since birth so it's not strange with it.

Sometimes we need news about this to be a lesson for everyone not to take things for granted with low odds and be too sure of victory, we must understand that any bet always carries a risk and that is where we are wise before betting. For example, spending money on bets according to a budget that we can afford to lose, don't be tempted by low odds, let alone bet out of ignorance.

[ufaiz50]

That must be really hurtful. Imagine you are aiming to earn only $14,000 and you lose your entire $14M that really was painful to read, what more if you are that player who lose it. If I can remember there are also some user who are using this strategy on the crash game but they didn't place a million bet but maybe around $10,000 and aim for 1.01x or 1.1x though that was a low odd there's really a chance that you could lose from it.

[Jody.Drummer]

We have the opportunity to become billionaires from crypto especially if the bull run and altcoin season come back soon and make all our coins get their peak prices again. But if it is from gambling, I think it will be difficult for us to get rich because only a few people can become rich because of their luck.

But even though we are already billionaires, it's better not to play gambling using a lot of money because gambling can cause you to lose money. We can save money or use it to open a new business. It can provide benefits in the future if we can manage it.

Yes because investing in cryptocurrency is different from gambling, and the difference is very significant. But becoming a billionaire in crypto will also be seen by how much capital we invest, because if we have little capital, it will be a little difficult even though the bull run season occurs.
Having a lot of money to invest in cryptocurrencies has been my dream, and I hope that one day I can invest more money than I can invest now.
You are right, even though we are billionaires, we must be able to limit our money to gamble, because if not with good financial management, how much money we have will run out.