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

[Fortify]

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 are few times that you might actually cheer the casino and these situations might be one of them. Somebody had $1,400,000 in their bank account and decided to risk it for the chance of winning around $11,000. Most people could live their entire lives off $1.4 million without ever even touching the principal, if they invested it wisely in something simple like an index fund. If you lived away from a major city there are plenty of towns where you can rent cheaply, or I guess take a little chunk out to buy your house. However someone presumably had such massive wads of cash laying around that they gave up this huge sum for almost nothing - really tough to have any sympathy for them, at the very least I hope it steers them clear of gambling in to the future.

[Hamphser]

There are few times that you might actually cheer the casino and these situations might be one of them. Somebody had $1,400,000 in their bank account and decided to risk it for the chance of winning around $11,000. Most people could live their entire lives off $1.4 million without ever even touching the principal, if they invested it wisely in something simple like an index fund. If you lived away from a major city there are plenty of towns where you can rent cheaply, or I guess take a little chunk out to buy your house. However someone presumably had such massive wads of cash laying around that they gave up this huge sum for almost nothing - really tough to have any sympathy for them, at the very least I hope it steers them clear of gambling in to the future.

Thats if they havent broken out their future but its true that for someone to have this kind of amount then we can assume out that he had still lots of money.We could really think up lots of things that we could do with a 1.4 million in terms of living and in terms of investment which is more worth for this amount to be applied but since its not ours money then it is normal that someone would be dealing up on how they would really be gonna spending it.It is really just that giving that regret and being that worried on what he had done because it would be more worth if he had just spend it out on other things which is more that
worthy and does have sense.

[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.

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.

I think he could get depressed after that big loss.
Obviously, this poses a huge risk for a gambler, even for people who have a lot of money, because after they lose, it will not be easy to recover from their losses again.
But maybe he's betting above the average of anyone who's played at the casino, especially since he's had it in less than an hour.
If I were that person, with that kind of money, I wouldn't spend it in one day but would use it for days, maybe up to several months

[wxa7115]

Thats if they havent broken out their future but its true that for someone to have this kind of amount then we can assume out that he had still lots of money.We could really think up lots of things that we could do with a 1.4 million in terms of living and in terms of investment which is more worth for this amount to be applied but since its not ours money then it is normal that someone would be dealing up on how they would really be gonna spending it.It is really just that giving that regret and being that worried on what he had done because it would be more worth if he had just spend it out on other things which is more that
worthy and does have sense.

We will most likely never know who was behind that bet and whether or not they could afford it, if they have a lot more money on their bank account then such a loss while still unforgettable will become way easier to accept as they will still have a lot of money they can use to enjoy on other activities.

But it seems possible to me this was the majority or even the totality of their capital, and if this is indeed the case then I can only imagine how painful the experience could be for them and the feelings of regret they must be feeling even now.

[Reatim]

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.

z
How I wish he will never mate and hope that he is rich person that only lose peanut in this matter because if not? for sure His entire life is ruined in this action .

I have seen also whales betting 20k and up in single roll with consecutive losses but never see in actual bet of 1.4 million dollars.

lesson learn still not only for that man but to all gamblers worldwide.

[slapper]

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 are few times that you might actually cheer the casino and these situations might be one of them. Somebody had $1,400,000 in their bank account and decided to risk it for the chance of winning around $11,000. Most people could live their entire lives off $1.4 million without ever even touching the principal, if they invested it wisely in something simple like an index fund. If you lived away from a major city there are plenty of towns where you can rent cheaply, or I guess take a little chunk out to buy your house. However someone presumably had such massive wads of cash laying around that they gave up this huge sum for almost nothing - really tough to have any sympathy for them, at the very least I hope it steers them clear of gambling in to the future.

Gaming is entertaining and exciting in moderation. However, all gambling is risky, so players should be cautious. Someone who takes such a significant financial risk worries you. They may have invested or saved the money. However, they lost everything for nearly nothing. Gambling responsibly and moderately is preferable. It's great, but recognize your limits and stick to your budget. These precautions allow you to gamble without risking your finances.

[hopenotlate]

This topic came to my mind several times, after my first read it didn't want to came out of my head and I came to the conclusion the only plausible purpose of this (kind of) bet is money laundering.

Casinos, sports bets,horse racing and lotteries are means of legalizing illegal profits.
Betting takes place with dirty money while in the casinos it is possible to replace, after the purchase of chips, the remainder with clean money or request a check to be sent to a bank of lawful origin.
Even more in my country it is possible to put "dirty" money into a latest generation slot machine (here called videolottery or briefly vlt) and without even making a bet, press the "ticket out" button, thus receiving a ticket with a barcode that can be used to play again, even on another machine.
But you can also go to the counter and they will exchange it for money : in that moment you will have your initial money back and also a proof of legal origin of your money that are no more of illicit origin.

Back to the huge bet of this topic you cant put $1.4 million into a slot and therefore betting them in what seems to be a sure bet is the quickest way to clean your money and thus reinserting them into the cycle of the real legal economy. 

[klidex]

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.

z
How I wish he will never mate and hope that he is rich person that only lose peanut in this matter because if not? for sure His entire life is ruined in this action .

I have seen also whales betting 20k and up in single roll with consecutive losses but never see in actual bet of 1.4 million dollars.

lesson learn still not only for that man but to all gamblers worldwide.

In fact, there are many wealthy gamblers who have made bets of 1.4 million dollars or more, but rarely do people know where they made bets of that size.
There are lots of rich gamblers out there who have a passion and interest in the world of gambling or betting, it's just that no one knows whether they are betting in an online casino or a real casino that you can visit in person. There are also those who bet directly in a casino. match stadiums that have been given a special place for those who want to make a bet.

Maybe learning can be done by a gambler, but to stop betting and regret what he has done is a difficult thing for a gambling enthusiast or betting enthusiast.

[Dunamisx]

This topic came to my mind several times, after my first read it didn't want to came out of my head and I came to the conclusion the only plausible purpose of this (kind of) bet is money laundering.

You're right to an extent, money laundering could be a possibility in this regard since it's hard for a gambler to just pull on the whole amount of such huge money into gambling after several years of savings from rigorous earnings into gambling, the possibility to this from another view is to thought of money laundering as a possible cause while the gambler also got over confidence in the game and got decieved by the odd and gambles on other to also double the money.

[LogitechMouse]

Welcome to gambling. Where the word "certainty" can't be applied even though the majority are thinking that they will win on it. Where the word "guarantee" can't be applied as well because anything can happen.

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

In sports betting, what I always see is the statistics. That increases my chances of winning, but it isn't certain that I will win with the use of it. Gambling = risk whatever odds it is. TBH, it's my first time seeing a gambler putting that huge amount into a team with odds that low.

The reward of it is high compare to the risk of it. I'm curious how does he felt after what happened with that game and his money. As for me, most of the time I always bet on the opposing side and I don't recommend doing it because that's the reason why most of the times, I lose money in gambling. I didn't experience me betting on a team which is kind of sure win already, and I guess I will not do it at all .

[LastKiss]

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.

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

It's really risky to bet in sports betting or someone who can manipulate that, since there's always a chance like dirty play behind the scene or something miracle happening to that team etc. There's never an easy game if we underestimate our opponent then we can lose in no time. Well I always avoid sports betting since when I tried e-sports betting and though it's an easy game but the result is not like what I wanted. 

[tsaroz]

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?

This reminds me of my unique strategy of low odds martingale bets on tennis. I used to bet on good players at odd at or above 1.1 and increase the amount by 10 on every loss. And I only placed bet on if the playing player have 100+ ranking difference on ATP's rank and had clean head to head stat for the one I'm betting for. This went well till it really went bad. Glad I didn't had 5 digit amount on me while it busted. With so many different ways to lose, I've came to conclusion that sports bet too are just for fun.

[ethereumhunter]

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.

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

It's really risky to bet in sports betting or someone who can manipulate that, since there's always a chance like dirty play behind the scene or something miracle happening to that team etc. There's never an easy game if we underestimate our opponent then we can lose in no time. Well I always avoid sports betting since when I tried e-sports betting and though it's an easy game but the result is not like what I wanted. 

Especially if he uses a very large amount of money that not everyone can afford to do it, he may have really hoped for a big win to place a big bet but the truth is that he got a big loss instead. This is a clear example where people want to win a lot of money by betting big money. We really have to prevent ourselves from placing bets using big money even though the results of our analysis say that the team we choose has a big chance of winning than the opposing team. It's the risk of losing big money that we have to avoid so we don't regret it.

[Peanutswar]

If this is a sports game anything can happen in the game one mistake make a turn over the game and make a comeback that's the reason why some of the people want to bet in the sports and e-sports game so they can have a chance with the higher odds because most of the time it happens in the underdogs and people keep making a YOLO or risky bet with the higher odds to get a good profit.

[KupaCrypto]

In my own opinion I just see it as a risk, but the question is , was the risk worth it?? Using 1.4million dolls to bet 1.01 odd to me its insane because the money you are expecting to win is not worth the risk, but everyone is entitled to their own opinion and risk .

Gambling involves risk and for you to take a risk then you are responsible for it,  assuming the game played that would have been a plus to him but in this case he lost and in gambling you either you win or you loose .

[Fredomago]

If this is a sports game anything can happen in the game one mistake make a turn over the game and make a comeback that's the reason why some of the people want to bet in the sports and e-sports game so they can have a chance with the higher odds because most of the time it happens in the underdogs and people keep making a YOLO or risky bet with the higher odds to get a good profit.

If luck permits and you manage to pick the lucky underdog the winning amount is decent, opposite to what happened to OP's topic, choosing a high favorite team which gives you the impression that 99% is a sure bet and putting a huge amount of money to cash out decent amount of winning. But the opposite take place, luck goes to the opposite side and the outcome favor the other party.

In my own opinion I just see it as a risk, but the question is , was the risk worth it?? Using 1.4million dolls to bet 1.01 odd to me its insane because the money you are expecting to win is not worth the risk, but everyone is entitled to their own opinion and risk .

Gambling involves risk and for you to take a risk then you are responsible for it,  assuming the game played that would have been a plus to him but in this case he lost and in gambling you either you win or you loose .

On my take, placing a huge amount of bet to receive considerable winning money. Though it's the opposite that happened, as luck is not on the side of the bettor. No control with the possible outcome even you see that your winning chance is 99%.

[decodx]

In my own opinion I just see it as a risk, but the question is , was the risk worth it?? Using 1.4million dolls to bet 1.01 odd to me its insane because the money you are expecting to win is not worth the risk, but everyone is entitled to their own opinion and risk .

For me, it's just too risky. I mean, spending 1.4 million dollars to bet on a 1.01 odds? That's crazy. The potential winnings aren't worth it, in my opinion. But hey, everyone's got their own risk tolerance and opinions. I guess it just depends on how much you're willing to risk for a chance at a big payout. But it's important to consider all possible outcomes, not just the potential reward. And you better have a plan if things don't go your way.

[MiliMil]

Am I the only one who thinks it's disgraceful the sportsbook released that information?

It is disrespectful to the gambler.

If that was me I would close my account and never gamble with that company again.

Discretion is everything in this game and these idiots have lost a lot of credibility in my opinion.

[rahmad2nd]

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.

I'm pretty sure, this guy, often does high stakes. The reason is, when referring to the odds given by the bookies. this match should have been won by a strong team. I will take an example. just imagine, like the match between Argentina vs Saudi Arabia. 99%, the match will be won by the stronger team.
because of that, the odds that the bookie gives are very low for the Argentinian team. because however, in terms of player depth, skills, readiness, mentality, the Saudi Arabian team is far below the level with Argentina.

Well, in this man's case. assuming a very high probability of winning, he bets 1.4 million USD. because the man believes, 99% he will win the bet. unfortunately, fate had other plans because he had to give up the 1.4 USD he was betting. like the example I gave, for the Argentina vs Saudi Arabia match. no one thought that Saudi Arabia could comeback and win the match. So, in this case. the man was really unlucky.

[Wiwo]

I'm pretty sure, this guy, often does high stakes. The reason is, when referring to the odds given by the bookies. this match should have been won by a strong team. I will take an example. just imagine, like the match between Argentina vs Saudi Arabia. 99%, the match will be won by the stronger team.
because of that, the odds that the bookie gives are very low for the Argentinian team. because however, in terms of player depth, skills, readiness, mentality, the Saudi Arabian team is far below the level with Argentina.

The thing is odds allocation by bookmakers is not in any ways related to the outcome or the strength of the team, bookmakers already know the uncertainty of the outcome of bets and so the give an odds that will give the casino more return should in case the bet is lost and to pay out smaller rewards if the bet is won, that is why you see odds variations, some clubs are given bigger odds knowing fully well that it difficult for the team to win, this is a mechanism.
The player that lost 1.4 millions dollars may have been influenced by odds variation making him to have confidence in his perceive winner to the point of staking such a huge amount on the bets. And just as you have rightly said gambling is a luck base activities may be this day the player ran out of luck.