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

[so98nn]

That gives me purpose to see more and live more in this life. I cant believe it how crazy stories I keep reading on the bitcointalk. Is this really real man? How can one go and decide such high amount on a bet in single roll? Wow, I think this is what they call, loosing your mind over greediness. That's craziest one and it's big lesson for every gambler out there. I think I am done watching the worst bet made in the history of gambling. Also if he has that much to dare, then he must far more richer than that and not to care about his losses whatsoever.

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[MarcoRg011]

Well, I also played in a site giving all in 17 btc 6 years ago with the dice under 1.01x and I lost everything

It was painful

[Portgas D]

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

in my opinion, and concluded from several gambling players, that is they are only looking for entertainment and they also bet not using money that is not for their daily needs. But they bet using unused money or leftovers from shopping for their needs. so even if they lose at gambling they don't bother, because their needs have been met.

[Zackgeno96]

Odds from 1.01 do not give any guarantee of success. Statistically speaking you have a big advantage of course, but also keep in mind that according to the math you will lose 1 x in 100 x if you keep playing this. It can go well for 300 games, but it can also go wrong after 7 games. There are people who make money with this strategy, but here too you need some luck. There are known examples of Germany - Sweden, for example, in which Germany had a 4-0 lead and you could bet on a victory over the German football team for odds of 1.01. That game eventually ended in 4-4, many people lost a lot of money with that. If you don't want to take any risk, then you should focus on surebets. Or look for decent value bets.

[Wiwo]

Well, I also played in a site giving all in 17 BTC 6 years ago with the dice under 1.01x and I lost everything

It was painful

Throwing up 17 bitcoin on a bet in the last 6 years ago when bitcoin was cheap and a few hundred dollars could accumulate a good number of bitcoin, unlike the present time when the price of Bitcoin is high, betting away 17 Bitcoin will be a little overboard and way too much an amount to gamble away but am sure even that amount is not up to the amount in the ops sine 1.4 million dollars can accumulate more bitcoin above your 17 bitcoin. But in all please only gamble what you can afford to lose, and avoid becoming excessive in gambling once you lose some, you can walk away.

[Haunebu]

Well, I also played in a site giving all in 17 btc 6 years ago with the dice under 1.01x and I lost everything

It was painful

This is such a bad comparison. Your BTC was worth several hundreds of dollars 6 years ago while this gambler bet 1.4 million dollars which is way, way bigger in comparison. Time makes a huge difference here.

You never expected BTC to reach 60 grand back then which makes complete sense.

[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.

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.

Indeed none of us likes to lose, but that will happen if we play gambling because defeat will come to those who play gambling. And even though gamblers put their money into relatively low-risk bets, they still have the same chance of losing as that person did. We must remember that the possibility of losing will always be there, while the possibility of winning will not always exist. That's gambling because it's the casino that will always win. After all, it's their business, so we have to control ourselves while gambling. We must control ourselves to avoid big defeats because it will be very painful to see our deposit money run out at the gambling table.

[baco35]

But how can he take such a risk by wagering $1.4 million just for a net profit of $11,200, which is 8% of the total wage if he had won?

0.8% actually

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.

It's really the opposite. These type of bets are made thousands of times every day, not for this amount of course, but for 100x this amount if you counted up all those bets.
What exactly would they investigate? It's an NFL game, the most unlikely of all games to be rigged.

[dezoel]

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.

If we don't like to lose then we shouldn't play gambling at all. Gambling is a very risky activity so we must only be able to use money within our capacity and don't be like the guy here in our topic.

Maybe the guy underestimates the other team and he also sees that the odd is super low so he thinks this was an easy win but then as stated in the story the other team make an epic comeback, making that team win and then the guy loses his bet. Taking huge risk doesn't only mean betting for higher odds but it also has to do with the the amount that we are betting. If we bet high than is consider as high risk no matter what odds you are betting at.

[Maestro75]

thats why its called gambling, dosent matter the amount he bet ...

That is it, and anyone placing a bet should have their minds on that. For the gambler who lost 1.4 million it may be a small loss to him and not much of a big deal. We should not cry on his behave. What if he had won it, we would be enjoying it on the beach with those fat brown cigars on his lips and pretty young girls around him. Gambling is a game and like a game you have winners and losers. There are bad and good days in every gambler's life. Maybe that day was that gambler's bad day.

[Desmong]

https://nypost.com/2023/01/15/gambler-loses-massive-1-4-million-bet-on-chargers-jaguars-game/

One bettor wasted a massive $1.4 million wager after betting on Los Angeles before the Jaguars mounted an epic comeback to beat the Chargers 31-30, according to Action Network’s Darren Rovell.

It seems that a gambler has loss this massive amount (1.4 million USD) playing a bet with an odds lower than 1.01! (exactly 1.008)

I think there are several lessons here:
- there is not easy bet! even lower odds there is always a risk.
- it's really risky playing an huge amount. This not helps gambler because the risk is much much higher then rewards!
- gambling is not easy at all! it's really hard achieve a profit even for easy games!

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

There is no lesson her for me because who knows how long the gambler had been making this kind of bets and how much he had won so far. There is no need to pity him because he knows that what he loses is just a token from nothing. People like this knows how to win and make money money. They bet with small odds and they keep winning regularly without stress. Ask for his portfolio so you will understand that no loses here.

[Newlifebtc]

https://nypost.com/2023/01/15/gambler-loses-massive-1-4-million-bet-on-chargers-jaguars-game/

One bettor wasted a massive $1.4 million wager after betting on Los Angeles before the Jaguars mounted an epic comeback to beat the Chargers 31-30, according to Action Network’s Darren Rovell.

It seems that a gambler has loss this massive amount (1.4 million USD) playing a bet with an odds lower than 1.01! (exactly 1.008)

I think there are several lessons here:
- there is not easy bet! even lower odds there is always a risk.
- it's really risky playing an huge amount. This not helps gambler because the risk is much much higher then rewards!
- gambling is not easy at all! it's really hard achieve a profit even for easy games!

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

There is no lesson her for me because who knows how long the gambler had been making this kind of bets and how much he had won so far. There is no need to pity him because he knows that what he loses is just a token from nothing. People like this knows how to win and make money money. They bet with small odds and they keep winning regularly without stress. Ask for his portfolio so you will understand that no loses here.

Any person that loses bet you will have to sympathize with that person because if you are in the show of the person somebody have to sympathize with you also so I'm trying to let you know assuming you have lose a bed before that your plan that you made it or you again or you win from that bet you will know how painful it is for someone to lose a bet so what we need his encouragement so that someone can move further and the fall not be involved into depression

[RILWAN]

Low odds are never a sure way to winning and anytime we bet on them we should be settled with one fact that the bet can go against us even if the odds are low ot, not garranteeand should not be taken as a pointer to big winning so why should anyone want to risk such a huge amount on such bets.

[khaled0111]

But how can he take such a risk by wagering $1.4 million just for a net profit of $11,200, which is 8% of the total wage if he had won?

0.8% actually

This is the fun part of the story.
Risking or gambling a 1.4 m to win a 0.01 at a 1.01 odd is a thing but..
Anyway, he lost the bet and he deserves what've been coming toward him.
If 1.4m wasn't an amount he was willing  to afford to lose then he deserves whatever will happen to him.

[kotajikikox]

i many times hit with 1% and 2% chance is not hard.

You are maybe good , but looking at OP's capacity to lose that amount? surely he is not new in gambling and know what he is doing , its just happened that either the decision is wrong or there is something wrong with the site he put the bet or the system.
losing that big amount means there is a big obligation from His side.

I am not that good in gambling but one thing I'm sure that I will never lose even 4 digits in single bet

Low odds are never a sure way to winning and anytime we bet on them we should be settled with one fact that the bet can go against us even if the odds are low ot, not garranteeand should not be taken as a pointer to big winning so why should anyone want to risk such a huge amount on such bets.

It has been said for hundred of times here , but indeed that there is no assurance how low or high the odds .

[rodskee]

Low odds are never a sure way to winning and anytime we bet on them we should be settled with one fact that the bet can go against us even if the odds are low ot, not garranteeand should not be taken as a pointer to big winning so why should anyone want to risk such a huge amount on such bets.

there is also a chance that i thought it is a sure win , wayback when i am playing   Hi-Lo But i am completely wrong as I bet all my remaining funds for the last roll., this serves me a education that there are never be a sure thing in gambling but only one , that we will all Lose and the site will always win.

[traderethereum]

Low odds are never a sure way to winning and anytime we bet on them we should be settled with one fact that the bet can go against us even if the odds are low ot, not garranteeand should not be taken as a pointer to big winning so why should anyone want to risk such a huge amount on such bets.

The most important thing we have to know is that even if we use low or high odds, we still need luck and luck can't always come to us all the time.
If you are sure of your choice, let it run until it's finished so we can see the outcome.
But to bet in large amounts is very risky because the losses we will get will also be large.
It's better to bet using the money we can afford and not exceed the limit like that guy so we won't regret it if we lose.
That is a lesson for us to be able to manage money for gambling so that we can enjoy gambling properly.

[len01]

thats why its called gambling, dosent matter the amount he bet ...

That is it, and anyone placing a bet should have their minds on that. For the gambler who lost 1.4 million it may be a small loss to him and not much of a big deal. We should not cry on his behave. What if he had won it, we would be enjoying it on the beach with those fat brown cigars on his lips and pretty young girls around him. Gambling is a game and like a game you have winners and losers. There are bad and good days in every gambler's life. Maybe that day was that gambler's bad day.

this is the answer i was expecting.
gambling is a game of luck where there are good days and there will definitely be bad days, and it cannot be predicted like gambling. Every gambler, before betting, must have thought about how much he will bet, so that no matter how much money he loses, he will not feel like he has lost. well, maybe it was a disappointment at the time but that kind of feeling will go away after a few hours later. since the amount he risked might not be all of his wealth, so the loss of $1.4 million was small for him.
but, from the story that the OP wrote, we don't need an example, even though we have a lot of money when betting it would be better to control ourselves not to be greedy and waste a lot of money at bets.

[Silberman]

Low odds are never a sure way to winning and anytime we bet on them we should be settled with one fact that the bet can go against us even if the odds are low ot, not garranteeand should not be taken as a pointer to big winning so why should anyone want to risk such a huge amount on such bets.

The most important thing we have to know is that even if we use low or high odds, we still need luck and luck can't always come to us all the time.
If you are sure of your choice, let it run until it's finished so we can see the outcome.
But to bet in large amounts is very risky because the losses we will get will also be large.
It's better to bet using the money we can afford and not exceed the limit like that guy so we won't regret it if we lose.
That is a lesson for us to be able to manage money for gambling so that we can enjoy gambling properly.

It should be obvious that such a bet was made by a gambler with problems, because even if the probabilities of losing such bet were very low they were not zero, and taking such a risk with such a huge amount of money for such little gain makes no sense at all, I just hope the person who did this is doing fine as losing 1.4 millions in less than an hour and in that way should be incredibly hard, and it would not surprise me if such a person was undergoing some sort of depression.

[stomachgrowls]

Low odds are never a sure way to winning and anytime we bet on them we should be settled with one fact that the bet can go against us even if the odds are low ot, not garranteeand should not be taken as a pointer to big winning so why should anyone want to risk such a huge amount on such bets.

The most important thing we have to know is that even if we use low or high odds, we still need luck and luck can't always come to us all the time.
If you are sure of your choice, let it run until it's finished so we can see the outcome.
But to bet in large amounts is very risky because the losses we will get will also be large.
It's better to bet using the money we can afford and not exceed the limit like that guy so we won't regret it if we lose.
That is a lesson for us to be able to manage money for gambling so that we can enjoy gambling properly.

It should be obvious that such a bet was made by a gambler with problems, because even if the probabilities of losing such bet were very low they were not zero, and taking such a risk with such a huge amount of money for such little gain makes no sense at all, I just hope the person who did this is doing fine as losing 1.4 millions in less than an hour and in that way should be incredibly hard, and it would not surprise me if such a person was undergoing some sort of depression.

Doesnt really make sense at all but there are gamblers who do really think about 100% winning probability.Basing up on what i had read up on previous pages where
the odds is actually 1.008x which if we do make up some computation on how much he would be winning on 1.4M bet then it would be still on $11,200 which if we do
really see that its never been that worth to take up some huge bet just to get that 11k which its never been worth on which most of us would be saying the same.

For a certain person who had bet out this kind of big amount then it would be impossible that this is already some sort of all in money.
Pretty sure that this one is rich and does have lots of reserves but actually no one really knows.