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

[Haunebu]

1.4 millions ? this is insane decision and surely he will regret the rest of his life, no wonder that would be His last bet and will never come back in gambling world(or maybe that is the end of His life)

It probably isn't his last bet and I don't think he will end his life or anything since he is probably a rich dude who will regret this bet for a while and move forward just like the BTC pizza guy who missed out on millions.

The most important thing is to be able to live with the bets we make and not feel bad about it for a long time if things go wrong.

This is the extremely tough part which most gamblers fail to nail which is why they get depressed or go crazy or kill themselves etc.

[Porfirii]

We all should take into account that there are people who win national lotteries, for instance, every day, regardless the near to zero chances they had to win.

1.008 is quite a low probability, but it is still much bigger than the one just mentioned, so we should assume that there are no bets free of risk. Anyway, I agree that a person who makes such a big bet is quite probably very rich and it responds to a betting strategy that may be profitable in the long run. But, if that was not the case explained in the OP, the loss must be terribly hard to bear for that gambler.

[erep]

It probably isn't his last bet and I don't think he will end his life or anything since he is probably a rich dude who will regret this bet for a while and move forward just like the BTC pizza guy who missed out on millions.

I also believe that if it wasn't the final bet he should have known the consequences even though he was so sure he would win but the loss is obviously very frustrating for anyone because of his wrong way of gambling. He can even gamble the other way without risking $1.4m for an $11k profit.

we have to be careful in determining bets even though we have estimated the chances of winning, but nothing is certain in sports betting because each team will try hard to change its winning position with a new strategy, so sports betting is better to place low bets and not have a high risk of losing fund.

[chaser15]

I also believe that if it wasn't the final bet he should have known the consequences even though he was so sure he would win but the loss is obviously very frustrating for anyone because of his wrong way of gambling. He can even gamble the other way without risking $1.4m for an $11k profit.

we have to be careful in determining bets even though we have estimated the chances of winning, but nothing is certain in sports betting because each team will try hard to change its winning position with a new strategy, so sports betting is better to place low bets and not have a high risk of losing fund.

Since that bettor is willing to risk that amount, maybe that was really its usual way of gambling for a long.

We can conclude that so far, he is doing well with that strategy where he will always choose low possible odds but the risk for him is, will be forced to stake a high amount to somehow feel a profit or can be considered a good profit.

Unfortunately, not this time where he loses that big bet. But if you guys will read more details, the bet was almost a win for him already but the underdog was able to make a late rally and that was a rare occurrence in the history of those involved teams.

[Beparanf]

Unfortunately, not this time where he loses that big bet. But if you guys will read more details, the bet was almost a win for him already but the underdog was able to make a late rally and that was a rare occurrence in the history of those involved teams.

It’s pretty obvious that his almost win due to the odds placed by the bookmaker. It will not be rate as 1.01 odds if the the opposing has a high chance of winning. This kind of upset is very tragic and I believe bookmaker sometimes place an error odds just to trap whale players like in the OP to bet on game that underdog has a high chance to upset the match if the bettor is not paying attention well on the match that he place bets.

Some whale players usually just look on the odds with their bets.

[suzanne5223]

I don't know how rich the person that made the bet was but I believe he/she was greedy with the game and I also believe he/she has learned a pretty good lesson because the odds of a game don't justify an end result, it is something I have learned much time which I also learn during the Qatar World cup game at quarter-final when Portugal faces the Moroccan, Brazil vs Cameroon, Spain vs Japan, etc.

First of all, we can't judge someone based on the bets they make. I don't feel that the man we are discussing here, is a covetous person.

in theory, with the odds provided by the dealer, on paper the man should have won his bet. however, in the world of sports, especially football. anything can happen even though the team that is superior tends to win the battle. and it seems, the man is too confident that the team he chose as a bet will win the game. so, he gambled with 1.4 million USD. and if he wins the bet, the guy will get at least $11,200. the results are not commensurate with the money at stake, but because 11k money is big enough money, it seems he made a decision on the gamble. unfortunately, bad luck for him.

In conclusion, in any gamble the stake always carries a risk even though the ratio of losing is very unlikely. as you exemplified in the world cup matches in Qatar, remember the favorite team doesn't always win the battle.

Yeah, I totally agree with you. It's not fair to judge someone based on the bets they make. And you're right, in sports, anything can happen. Even though the team that's supposed to win, might not always come out on top. And it sounds like the guy who made the 1.4 million dollar bet, might just be rich enough to take that kind of risk. But still, it's important to remember that with any gamble, there's always a risk involved. Even if the odds are in your favor, you can never be 100% sure of the outcome. So, it's always important to gamble responsibly and not bet more than you can afford to lose

Maybe you guys have a valid point but if you read the storyline of how the man lost the 1.4 million USD on Chargers Jaguars game you'll agree with him been judge because the story says he made the 1.4 million dollars when the Chargers-Jaguars were leading the match with 27-0. Therefore, he greedily put in the million bucks so he could win an easy $11, 200.
Can you tell me that's not a greedy move?

[len01]

The problem is such look like a safe bet when in fact not... I have seen people lose on a 1.005 odd bet which looked like a sure bet but turned out to be a high risk bet that will lead to losing and the unfortunate thing about such wagers is that a player needs to put in alot of money to have a small profit but in the end its all burst! Btw I think bookies actually make more money on such bets because of our greed, it's a hard lesson learnt and can never be too sure of an outcome.

sometimes odd bets are misleading and gamblers are sometimes too greedy after seeing odd bets that seem to promise victory even though they are like a trap. I had experienced something like this at that time, but luckily I gambled just for fun without using big bets.
for gamblers who have lost a lot of money because they have bet a large amount on odd bets, hopefully that will be the best lesson not to be greedy in gambling

[RILWAN]

This is a poor case of addiction if nkt how can any sane person lose such an amount of money in betting, what winning prize had he been chasing to the poi t of staking a whooping  1.4 million on a bet.

I think the ops in question should be thoroughly examined to a certain his state of mind, and of he is ok then he must be a big bag holder already to have developed such an appetite.

[serjent05]

The problem is such look like a safe bet when in fact not... I have seen people lose on a 1.005 odd bet which looked like a sure bet but turned out to be a high risk bet that will lead to losing and the unfortunate thing about such wagers is that a player needs to put in alot of money to have a small profit but in the end its all burst! Btw I think bookies actually make more money on such bets because of our greed, it's a hard lesson learnt and can never be too sure of an outcome.

sometimes odd bets are misleading and gamblers are sometimes too greedy after seeing odd bets that seem to promise victory even though they are like a trap. I had experienced something like this at that time, but luckily I gambled just for fun without using big bets.

And one thing I learned from this, don't be deceived by the current score of the game, it can flip any time.  that is actually the case stated by @OP betting on the leading time while the game is running, disregarding the possibility of a comeback of another team.

for gamblers who have lost a lot of money because they have bet a large amount on odd bets, hopefully that will be the best lesson not to be greedy in gambling

I bet the guy had learned his lesson.  It is an expensive tuition fee for the gambling 101 courses.  I do not think it was an addiction case but instead a "sure-win" fallacy.

[serveria.com]

That's certainly one suspicious bet. If the guy would win that bet, that would most probably be investigated by the bookie's security department. I can't think of a reason why the guy made this bet and why he considered it safe? Was he drunk or high?

[lienfaye]

The problem is such look like a safe bet when in fact not... I have seen people lose on a 1.005 odd bet which looked like a sure bet but turned out to be a high risk bet that will lead to losing and the unfortunate thing about such wagers is that a player needs to put in alot of money to have a small profit but in the end its all burst! Btw I think bookies actually make more money on such bets because of our greed, it's a hard lesson learnt and can never be too sure of an outcome.

Because it's gambling. No matter how confident you are with the team that will win because of the low odds, still, it is gambling and unexpected result is always possible to happen. It seems easy to profit if you bet in pretty low odds but yes it is also high risk if you wager huge amount to profit a little. It happened to me before and it became an eye opener to not fully trust the team with low odds, because it's not an assurance. So always bet only the amount you can live without to avoid having regrets.

[Chikito]

what your opinion about this gambling issue? did you had experience similar experience? how a good gambler should avoid such mistakes?

IMO, Gambling is gambling even have detail accurate to compute it. Once again, gambling is luck. I've experienced bet on world cup 2022 when Argentina meets Saudi. It's true to bet all in on Argentina (1.18), nothing to doubt right?, I am really sure if you are sane you will bet on Argentina with all your life. But, we know the result, it's the same in what gamblers did on Jaguars. So with this experience, we shouldn't be greedy, we should have to calculate again and sober.

[Daltonik]

what your opinion about this gambling issue? did you had experience similar experience? how a good gambler should avoid such mistakes?

IMO, Gambling is gambling even have detail accurate to compute it. Once again, gambling is luck. I've experienced bet on world cup 2022 when Argentina meets Saudi. It's true to bet all in on Argentina (1.18), nothing to doubt right?, I am really sure if you are sane you will bet on Argentina with all your life. But, we know the result, it's the same in what gamblers did on Jaguars. So with this experience, we shouldn't be greedy, we should have to calculate again and sober.

I absolutely agree with you, sometimes betting on a favorite can get the opposite result, I was convinced of this several times myself betting with odds 1.005 and got a loss, so in gambling you have to count on luck.

[Haunebu]

That's certainly one suspicious bet. If the guy would win that bet, that would most probably be investigated by the bookie's security department. I can't think of a reason why the guy made this bet and why he considered it safe? Was he drunk or high?

I disagree. There is nothing suspicious about it frankly speaking. The bookie's security department wouldn't bother investigating such bets since it clearly looks like a legit bet.

That gambler thought this was a sure bet just like many other gamblers and never expected a comeback in the 2nd half which is why he thought that it was easy money, but luck turned against him and screwed him over.

[BobK71]

what your opinion about this gambling issue? did you had experience similar experience? how a good gambler should avoid such mistakes?

IMO, Gambling is gambling even have detail accurate to compute it. Once again, gambling is luck. I've experienced bet on world cup 2022 when Argentina meets Saudi. It's true to bet all in on Argentina (1.18), nothing to doubt right?, I am really sure if you are sane you will bet on Argentina with all your life. But, we know the result, it's the same in what gamblers did on Jaguars. So with this experience, we shouldn't be greedy, we should have to calculate again and sober.

I absolutely agree with you, sometimes betting on a favorite can get the opposite result, I was convinced of this several times myself betting with odds 1.005 and got a loss, so in gambling you have to count on luck.

When luck does not favor, one has to face very bad situations. I bet a few days ago with a relatively large amount to win where the betting odds were 1.02 I was quite happy till the moment of the game but when I got beat at the end there was nothing to do. It's hard to describe what that moment feels like. But it is also true that I have had many victories too. After all, such situations of gambling are not unusual.

[coinerer]

Gambling is always risky no matter 1.01 or 0.008 odds.  Yes 0.01 odds are very believable but this ODD can fail to win anytime. Such incidents are often seen.  For example, in the first match of Argentina vs Saudi Arabia in FIFA this year, Argentina lost with 1.01 odds and Saudi Arabia won with 100 odds. So Odds of 1.01 or less cannot be guaranteed 100%. There is always risk in gambling

[maydna]

That's certainly one suspicious bet. If the guy would win that bet, that would most probably be investigated by the bookie's security department. I can't think of a reason why the guy made this bet and why he considered it safe? Was he drunk or high?

I disagree. There is nothing suspicious about it frankly speaking. The bookie's security department wouldn't bother investigating such bets since it clearly looks like a legit bet.

That gambler thought this was a sure bet just like many other gamblers and never expected a comeback in the 2nd half which is why he thought that it was easy money, but luck turned against him and screwed him over.

Many reasons can make his bet using a lot of money. It seemed that the man was too sure that his bet would give him a big win, so he bet a lot of money. But the truth was that he had lost too much. There are no easy bets, so if we want to bet, only use the money we can afford. The rest of us are just waiting for the game's results to come out and see if we win or lose. That's why betting on sports sometimes looks easy. We just choose the team we like, but the opposing team can put pressure on our team until our team finally loses.

[GigaBit]

That's certainly one suspicious bet. If the guy would win that bet, that would most probably be investigated by the bookie's security department. I can't think of a reason why the guy made this bet and why he considered it safe? Was he drunk or high?

I disagree. There is nothing suspicious about it frankly speaking. The bookie's security department wouldn't bother investigating such bets since it clearly looks like a legit bet.

That gambler thought this was a sure bet just like many other gamblers and never expected a comeback in the 2nd half which is why he thought that it was easy money, but luck turned against him and screwed him over.

Many reasons can make his bet using a lot of money. It seemed that the man was too sure that his bet would give him a big win, so he bet a lot of money. But the truth was that he had lost too much. There are no easy bets, so if we want to bet, only use the money we can afford. The rest of us are just waiting for the game's results to come out and see if we win or lose. That's why betting on sports sometimes looks easy. We just choose the team we like, but the opposing team can put pressure on our team until our team finally loses.

None of us like to lose. But we cannot win by ignoring the loss. Gamblers who research these issues carefully usually want to put their money into bets that are relatively low risk. Whether the odds 1.01 or 1.02 or smaller, these bets are low risk. As the rate of return is low, the risk is also low that is thought by some gamblers. Even if there is a low probability of loss the match but if it is happen then one have face big lose economically. As the OP mentioned.

A gambler should not take big risks. He can only bet as much money as he can afford to lose. It should be remembered that winning in gambling is uncertain. So win and loss both should be accepted.

[Dr.Bitcoin_Strange]

I believe every gambler can attest to the little odds they have lost before. Most times in my area, I see some guys criticizing the club they bet on because they had small odds and yet busted their bets.

Every gambler has their own strategy of betting, so no regrets for that guy who lost $1.4 million; he was just so unlucky and can try again next time, lol 🤣😂

I have learned lots of lessons in gambling, and even if I were in his shoes, I would not have just wagered $1.4 million on one game, but I noticed that some Rushian gambling sites do not allow me to split my options when gambling on a particular game; for instance, if I bet on Chelsea to win, the site will not allow me to bet on the same game with a different option, like Chelsea to lose. So what I do is use a common betting site that allows me to diversify my options in one game. What I am saying in essence is that even if I am presented with a small odd and have to go with different option, I can split it into three options and also split my fund accordingly. If one option busts, I might still be lucky in the other.

But how can he take such a risk by wagering $1.4 million just for a net profit of $11,200, which is 8% 0.8% of the total wage if he had won? OP, I agree with the lessons you stated out of the story.

[Slow death]

what your opinion about this gambling issue? did you had experience similar experience? how a good gambler should avoid such mistakes?

In the few years that I've been in the world of sports betting, I've noticed a few things:

1 - never borrow money for gambling

2 - never bet the entire bankroll in a single game or even in several games

3 - the only way to make a lot of profit is to risk making multibet bets but the chances of winning constantly are very small but if the person has discipline, knowledge and dedication and good management they can make a profit, but it will depend on the strategy that the person will use, as I said multibet betting has many risks

about this guy's story I would say that his mistake is very strange because even if he won in 3 consecutive games that had this odd he would not make a profit in the long term because in just one defeat he would lose everything