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

[rahmad2nd]

In sports betting, it's not uncommon for us to be presented with low odds that are provided by bookies for highly favored teams. in this case, the man chose to bet at low odds because he believed the team he chose would win the match. unfortunately, in the case of this man's gamble. the opposing team can make a comeback and win the battle. in the end, this man had to give up the money he had gambled.

actually it all comes down to luck. but in this case it is an example that we really have to pay attention to in sports betting gambling that odd low is indeed a superior team but not necessarily odd low means it will win. there are lots of cases like this, it's just that some gamblers are more closed in this loss. so not too many people know that many gamblers are fooled by the low odd.
I myself also experienced this case when I was in an esport bet when the odd was low I tried to bet with everything I had and in the end the opposing team made a comeback and lost in the last round. another example is in the world cup soccer match at that time many lost with millions of dollars.

so in conclusion, don't be too hasty to bet on sports betting, because anything can happen there. try to bet a moderate amount and add to the bet if the score is really far behind.

It seems you forgot the first rule in sports betting.

First of all, luck is another factor of a sports game. secondly, remember, that a tough team will not always win in every game. that is, these rules apply to any type of sports betting. So, it's not a matter of being fooled by low odd odds or all that. The problem is, are you brave enough to bet at the low odds that have been provided by the bookies. if not, you can choose other betting options, under/over for example, there are many to choose from.

If you are brave, you must be prepared to risk defeat if the team you predict is not what you expected. so, the conclusion is not a matter of being too hasty or not. but how do you use your insight and knowledge regarding the sport you enjoy. You can learn from the two teams that will compete, compare them, analyze them, look for all the latest formations, then you choose one of them for you to choose in the bet. the rest, let the results decide.

Remember, in sports betting, there are no exact calculations like math. anything can happen, but in theory, it's the stronger team that has the high probability of winning the fight and that's why the bookmakers give the odds so low. so in the OP's case, this is what happened.

[Shamm]

In sports betting, it's not uncommon for us to be presented with low odds that are provided by bookies for highly favored teams. in this case, the man chose to bet at low odds because he believed the team he chose would win the match. unfortunately, in the case of this man's gamble. the opposing team can make a comeback and win the battle. in the end, this man had to give up the money he had gambled.

actually it all comes down to luck. but in this case it is an example that we really have to pay attention to in sports betting gambling that odd low is indeed a superior team but not necessarily odd low means it will win. there are lots of cases like this, it's just that some gamblers are more closed in this loss. so not too many people know that many gamblers are fooled by the low odd.
I myself also experienced this case when I was in an esport bet when the odd was low I tried to bet with everything I had and in the end the opposing team made a comeback and lost in the last round. another example is in the world cup soccer match at that time many lost with millions of dollars.

so in conclusion, don't be too hasty to bet on sports betting, because anything can happen there. try to bet a moderate amount and add to the bet if the score is really far behind.

It seems you forgot the first rule in sports betting.

First of all, luck is another factor of a sports game. secondly, remember, that a tough team will not always win in every game. that is, these rules apply to any type of sports betting. So, it's not a matter of being fooled by low odd odds or all that. The problem is, are you brave enough to bet at the low odds that have been provided by the bookies. if not, you can choose other betting options, under/over for example, there are many to choose from.

If you are brave, you must be prepared to risk defeat if the team you predict is not what you expected. so, the conclusion is not a matter of being too hasty or not. but how do you use your insight and knowledge regarding the sport you enjoy. You can learn from the two teams that will compete, compare them, analyze them, look for all the latest formations, then you choose one of them for you to choose in the bet. the rest, let the results decide.

Remember, in sports betting, there are no exact calculations like math. anything can happen, but in theory, it's the stronger team that has the high probability of winning the fight and that's why the bookmakers give the odds so low. so in the OP's case, this is what happened.

Yes mate you are right about that not all tough teams are always win but theres a time they will loss cause in sports not all are perfect days like it depends on the situation and in the condition of the player or a fighter and also in basketball ball betting theres a big chance of loss if thier  best players or start players getting sick or injured as we all know that how strong the team is not all the time they will have a good body condition So in sports betting luck is based on. Just my opinion.

[Odusko]

Whether it is sports betting or casinos, we don't know the outcome. We predict the outcome and go for it. What happened in FIFA World Cup Matches is true example. It is really hard to accept, so when we go for a prediction it is good to go with the better odds than just going for mere profit risking huge volume of money.

Odds can be Misleading sometimes and if one is not carful tou may be tricked into picking a wrong bet following odds some time the odds may work but in most cases, their don't work out the way gamblers view them using the odds.
Just as you mentioned, in the opening match of the FIFA world cup 2022, you will see that the odds were pointing to Argentina winning the match but as luck hard it Saudi Arabia won with match efforts and luck, so in this case odds have failed once again but what i am saying selecting base on odds can lead to winning some time but not in all cases.

[len01]

In sports betting, it's not uncommon for us to be presented with low odds that are provided by bookies for highly favored teams. in this case, the man chose to bet at low odds because he believed the team he chose would win the match. unfortunately, in the case of this man's gamble. the opposing team can make a comeback and win the battle. in the end, this man had to give up the money he had gambled.

actually it all comes down to luck. but in this case it is an example that we really have to pay attention to in sports betting gambling that odd low is indeed a superior team but not necessarily odd low means it will win. there are lots of cases like this, it's just that some gamblers are more closed in this loss. so not too many people know that many gamblers are fooled by the low odd.
I myself also experienced this case when I was in an esport bet when the odd was low I tried to bet with everything I had and in the end the opposing team made a comeback and lost in the last round. another example is in the world cup soccer match at that time many lost with millions of dollars.

so in conclusion, don't be too hasty to bet on sports betting, because anything can happen there. try to bet a moderate amount and add to the bet if the score is really far behind.

It seems you forgot the first rule in sports betting.

First of all, luck is another factor of a sports game. secondly, remember, that a tough team will not always win in every game. that is, these rules apply to any type of sports betting. So, it's not a matter of being fooled by low odd odds or all that. The problem is, are you brave enough to bet at the low odds that have been provided by the bookies. if not, you can choose other betting options, under/over for example, there are many to choose from.

If you are brave, you must be prepared to risk defeat if the team you predict is not what you expected. so, the conclusion is not a matter of being too hasty or not. but how do you use your insight and knowledge regarding the sport you enjoy. You can learn from the two teams that will compete, compare them, analyze them, look for all the latest formations, then you choose one of them for you to choose in the bet. the rest, let the results decide.

Remember, in sports betting, there are no exact calculations like math. anything can happen, but in theory, it's the stronger team that has the high probability of winning the fight and that's why the bookmakers give the odds so low. so in the OP's case, this is what happened.

Yes mate you are right about that not all tough teams are always win but theres a time they will loss cause in sports not all are perfect days like it depends on the situation and in the condition of the player or a fighter and also in basketball ball betting theres a big chance of loss if thier  best players or start players getting sick or injured as we all know that how strong the team is not all the time they will have a good body condition So in sports betting luck is based on. Just my opinion.

@rahmad2nd no, it's not that I forgot about that rule but for me it really comes back to our luck right then and there. for example there is a low odd bet on a strong team, but you choose to research with your usual skills and decide to bet on the over, under, Asian Total or Asian Handicap etc.
well, at that time your chances of winning to choose your choice are very big but in reality the match is not what you expected when some teams are not performing as well as usual so the match is not as usual and in the end you lose with your choice.
So, the most important thing is that even though luck is the main point in gambling, we have various ways to get our wins.


@Shamm yes indeed that's true. but as I talked about with @rahmad2nd, luck is indeed the main rule in gambling but we still have a chance to win our bets with our expertise in researching and choosing Over, Under etc. bets. it can let us take the win out of that game.
so take advantage of the match situation, win or lose we leave it to luck.

[QueenVera]

I'm not really interested in this story but the money involved and now I was trying to convert this money into my local currency and I got so angry at that fellow and firstly what will prompt an individual into gambling away such huge sum of money?
This is madness and I really don't see any reasons why I should ever make such attempt in the first place and now there is a losses bit I will be glad if anyone returns to give a report on the mental state of the player because tis is an incredibly mad figure to just gamble away.
And I'm sure the community if gamblo over here would learn several lessons from this story and try not to underrate anyone or team because in the world of gambling, anything can happen and anyone can be shocked at anytime.
I do hope be gets back to his feet and doesn't run inro debts too.

[btc78]

I don't want to believe that this person bet all he has on a game even if they are sure of it's out come, maybe this person is a Billionaire? You can't be struggling in life and using 1.4 million USD to gamble, if this person is not a billionaire then he is a victim of his own greediness, I have learned my lesson in 2018 where I always blindly gamble my money away through online gambling platforms, I've lost a lot and I broke the addiction later, I forget about everything and stop gambling, now I only use very small amount of money and I never dreamed of winning big, it's more fun and winning for me now.

Well, Darren Rovell is not a billionaire, as I read he is a millionaire, so this loss hurt him a lot for sure. He is a victim of his own greediness, but also of his own stupidity... he risked a million and a half dollars to earn $10k. I believe he learned a lesson, there is no safe bet in gambling, so don't risk too much, it can turn ugly in minutes.

But since he can carry losing that million? this made Him a billionaire for me as he can afford losing that money , I mean he made that bet with so much confidence and carry to bet 1.4 million dollars in single bet.

but like what said? he is a victim of His own greediness and this made him a loser all his life.

that amount is already a life changing amount in our line , meaning if i can have this? my family and my second generation will live generously and better. so I cannot afford thinking of losing this same amount(of course I will not as i have no chance of having this)

[_act_]

Anything more than 1.98x is more risky for me. I have seen many people losing their bets at 1.99x.
I think 1.98x is still safer. Anything less than 1.10 is a lot riskier. You are basically going all in for just a mere 10% profit which is insane.
Just to make a 2x gain you will have to place 6-8 bets considering you are compounding your bets.
So the ideal range for me is between 1.3x to 1.98x. I generally place all my bets inbetween this range.

It depends on the match, 1.9 odd is not that different from 2x odds too, I have chose 2 odds before many times that I won, it depends on the match and the players that are available to play the match. I have seen many people losing bet to less than 1.99 odds several times too, it depends. There were days I chose 2 odds and I won, there were days I chose less than $1.99 odds that I lost.1.98, 1.99 and 2 odds are even similar.

Sometimes I still go for 1.2 and 1.25 odds, but I prefer it to be 1.5 to 2 odds most times.

[slapper]

I don't want to believe that this person bet all he has on a game even if they are sure of it's out come, maybe this person is a Billionaire? You can't be struggling in life and using 1.4 million USD to gamble, if this person is not a billionaire then he is a victim of his own greediness, I have learned my lesson in 2018 where I always blindly gamble my money away through online gambling platforms, I've lost a lot and I broke the addiction later, I forget about everything and stop gambling, now I only use very small amount of money and I never dreamed of winning big, it's more fun and winning for me now.

Well, Darren Rovell is not a billionaire, as I read he is a millionaire, so this loss hurt him a lot for sure. He is a victim of his own greediness, but also of his own stupidity... he risked a million and a half dollars to earn $10k. I believe he learned a lesson, there is no safe bet in gambling, so don't risk too much, it can turn ugly in minutes.

But since he can carry losing that million? this made Him a billionaire for me as he can afford losing that money , I mean he made that bet with so much confidence and carry to bet 1.4 million dollars in single bet.

but like what said? he is a victim of His own greediness and this made him a loser all his life.

that amount is already a life changing amount in our line , meaning if i can have this? my family and my second generation will live generously and better. so I cannot afford thinking of losing this same amount(of course I will not as i have no chance of having this)

He's a victim of greed. Since it's his money, we can't control him. Wealth doesn't protect against mistakes or bankruptcy. He must have been confident to risk that much. Investing and gambling allow anything. Even a prudent, well-informed person can lose a lot of money.

You're entitled to envy his wealth and its potential for you and your family. Instead of envying others' finances, focus on your own goals. Financial success can be achieved by savvy investment, saving, or entrepreneurship. Gambling or investing large amounts of money requires careful consideration, but the option is yours. Due research and awareness of the risks can improve the odds of a financial choice yielding a favourable return.

[maydna]

And these rich people really know how to use gambling to get entertainment and can also spend their time well. Rich people will play with other rich people, and from there, they can get new business partners that they can invite to build a business again. While most people gamble to make money, rich people gamble to get business opportunities from their other partners.

Indeed, some rich people use gambling as a means for them to meet and get a business partner, but only a few and not all of them are like that.
There are also rich people who gamble with the aim of being able to make a profit and multiply their money.
However, from some of my experience while in the world of gambling, it is true that people who have excess wealth will use gambling as a field to be able to multiply their money and enrich themselves. In fact, almost every time they have time to gamble, they will continue to gamble until they really get what they have. they want.

These rich people will have their own goals for why they use gambling. And if meeting and finding business partners can get them a new project or deal, they will use it with other business partners. But if those rich people use gambling to multiply their wealth by playing many gambling games, it would not be advisable because, after all, gambling games will eat up their wealth until nothing is left. They had better find other ways to double their wealth. Only a few people can enrich themselves by gambling, while others will only lose a lot.

They multiplied their money in gambling, also not in all games, but only in certain games such as poker, and even then the rich people joined them, all of whom already knew each other or had already become their business partners, so they would be even more daring in risking money.
It is true that only a few people can enrich themselves by gambling but there are also many people who can make a living from the gambling industry.
So that gambling is also beneficial for some people who can really take advantage of it.

If they double up on games they're good at, they will have that opportunity to win. But many people try to double from various games because they think the chance to win will be greater, but that's not entirely true because they can get bigger losses by moving to other gambling games.

Maybe it would be nice to be able to gamble in poker or some other card game with business partners while we talk about what's going on around the business and also be able to strike a deal with them. Of course, this will make our relationship closer than before so that the agreement can last for the long term.

[Mauser]

I'm not really interested in this story but the money involved and now I was trying to convert this money into my local currency and I got so angry at that fellow and firstly what will prompt an individual into gambling away such huge sum of money?
This is madness and I really don't see any reasons why I should ever make such attempt in the first place and now there is a losses bit I will be glad if anyone returns to give a report on the mental state of the player because tis is an incredibly mad figure to just gamble away.
And I'm sure the community if gamblo over here would learn several lessons from this story and try not to underrate anyone or team because in the world of gambling, anything can happen and anyone can be shocked at anytime.
I do hope be gets back to his feet and doesn't run inro debts too.

Yeah it's really what you could be doing with so much money instead of placing it on sports betting. In my city you could have bought two decent apartments and rent them out for nice income for the rest of your life. It's hard to wrap my head around how anybody could place so much money on a single bet. But then there are people who own 100m USD yachts which they only use a few times per year. In the end everything is relative to your total net worth and your monthly income. If you get a bonus every year of several millions than betting one million doesn't seem so out of line anymore. Also what if you find out that your wife wants to divorce you, wouldn't it be a good time to start gambling heavily? All the money you lose would have been 50% of your wife, so better to lose it at the casino. And if you manage to win than you might be able to hide some of the winnings until after the divorce.

[klidex]

And these rich people really know how to use gambling to get entertainment and can also spend their time well. Rich people will play with other rich people, and from there, they can get new business partners that they can invite to build a business again. While most people gamble to make money, rich people gamble to get business opportunities from their other partners.

Indeed, some rich people use gambling as a means for them to meet and get a business partner, but only a few and not all of them are like that.
There are also rich people who gamble with the aim of being able to make a profit and multiply their money.
However, from some of my experience while in the world of gambling, it is true that people who have excess wealth will use gambling as a field to be able to multiply their money and enrich themselves. In fact, almost every time they have time to gamble, they will continue to gamble until they really get what they have. they want.

These rich people will have their own goals for why they use gambling. And if meeting and finding business partners can get them a new project or deal, they will use it with other business partners. But if those rich people use gambling to multiply their wealth by playing many gambling games, it would not be advisable because, after all, gambling games will eat up their wealth until nothing is left. They had better find other ways to double their wealth. Only a few people can enrich themselves by gambling, while others will only lose a lot.

They multiplied their money in gambling, also not in all games, but only in certain games such as poker, and even then the rich people joined them, all of whom already knew each other or had already become their business partners, so they would be even more daring in risking money.
It is true that only a few people can enrich themselves by gambling but there are also many people who can make a living from the gambling industry.
So that gambling is also beneficial for some people who can really take advantage of it.

If they double up on games they're good at, they will have that opportunity to win. But many people try to double from various games because they think the chance to win will be greater, but that's not entirely true because they can get bigger losses by moving to other gambling games.

Maybe it would be nice to be able to gamble in poker or some other card game with business partners while we talk about what's going on around the business and also be able to strike a deal with them. Of course, this will make our relationship closer than before so that the agreement can last for the long term.

That's why in my previous statement I said that they are rich people who want profits and multiply their money prefer to play card games like poker because these games do use strategy and intelligence in playing them so they can really risk their money using their minds. alone while playing poker.
I don't know why I still don't understand why rich people only choose one or two games that they like to play and make money, but almost all of them prefer poker.

[Hamphser]

Anything more than 1.98x is more risky for me. I have seen many people losing their bets at 1.99x.
I think 1.98x is still safer. Anything less than 1.10 is a lot riskier. You are basically going all in for just a mere 10% profit which is insane.
Just to make a 2x gain you will have to place 6-8 bets considering you are compounding your bets.
So the ideal range for me is between 1.3x to 1.98x. I generally place all my bets inbetween this range.

It depends on the match, 1.9 odd is not that different from 2x odds too, I have chose 2 odds before many times that I won, it depends on the match and the players that are available to play the match. I have seen many people losing bet to less than 1.99 odds several times too, it depends. There were days I chose 2 odds and I won, there were days I chose less than $1.99 odds that I lost.1.98, 1.99 and 2 odds are even similar.

Sometimes I still go for 1.2 and 1.25 odds, but I prefer it to be 1.5 to 2 odds most times.

When considering risk factor and your own preference on what odds you would really be accepting before you could make some bet then it would really be depending on your.Just like yours on which i do consider out

bets which is 1.5x above and going lower with that number isnt something that i couldnt really consider and this is why there's no point on risking out your funds when you do see 1.01 odds or even lower.

Just like on what most people been saying here is that there's no 100% guaranteed win because upsets could really happen on betting world.There's no such thing about one sided game.
Yes, we could really have those impressions basing up on stats but we know that unfortunate events could happen on stronger teams which causes for them to lose.

[Fivestar4everMVP]

I'm not really interested in this story but the money involved and now I was trying to convert this money into my local currency and I got so angry at that fellow and firstly what will prompt an individual into gambling away such huge sum of money?
This is madness and I really don't see any reasons why I should ever make such attempt in the first place and now there is a losses bit I will be glad if anyone returns to give a report on the mental state of the player because tis is an incredibly mad figure to just gamble away.
And I'm sure the community if gamblo over here would learn several lessons from this story and try not to underrate anyone or team because in the world of gambling, anything can happen and anyone can be shocked at anytime.
I do hope be gets back to his feet and doesn't run inro debts too.

Also what if you find out that your wife wants to divorce you, wouldn't it be a good time to start gambling heavily? All the money you lose would have been 50% of your wife, so better to lose it at the casino. And if you manage to win than you might be able to hide some of the winnings until after the divorce.

Sincerely, does doing this really make sense ? it doesn't make any sense to me, to gamble away such an amount of money and using divorce as an excuse , that's really foolish if you ask me.
What is in the process, the gambler loses every penny he had to gambling, we as he will still be required to hand over some of their properties to the wife after the divorce, it simply means the man will return back to square one in his financial state, ones a rich man would end up begging bread on the street just because he was to revenge on the wife not knowing that he's also doing same to himself  

[Silberman]

Also what if you find out that your wife wants to divorce you, wouldn't it be a good time to start gambling heavily? All the money you lose would have been 50% of your wife, so better to lose it at the casino. And if you manage to win than you might be able to hide some of the winnings until after the divorce.

Sincerely, does doing this really make sense ? it doesn't make any sense to me, to gamble away such an amount of money and using divorce as an excuse , that's really foolish if you ask me.
What is in the process, the gambler loses every penny he had to gambling, we as he will still be required to hand over some of their properties to the wife after the divorce, it simply means the man will return back to square one in his financial state, ones a rich man would end up begging bread on the street just because he was to revenge on the wife not knowing that he's also doing same to himself  

Besides I would expect this to be illegal, as when the divorce is contentious the judge may decide to freeze the banks accounts to avoid a scenario like this to materialize, so anyone doing that will be on contempt of the court and they will not only face jail time but they will have to pay whatever the judge wants to their spouse, so not only this is a waste of money and time but it is a maneuver that will most likely not work.

[rodskee]

I'm not really interested in this story but the money involved and now I was trying to convert this money into my local currency and I got so angry at that fellow and firstly what will prompt an individual into gambling away such huge sum of money?
This is madness and I really don't see any reasons why I should ever make such attempt in the first place and now there is a losses bit I will be glad if anyone returns to give a report on the mental state of the player because tis is an incredibly mad figure to just gamble away.
And I'm sure the community if gamblo over here would learn several lessons from this story and try not to underrate anyone or team because in the world of gambling, anything can happen and anyone can be shocked at anytime.
I do hope be gets back to his feet and doesn't run inro debts too.

Yeah it's really what you could be doing with so much money instead of placing it on sports betting. In my city you could have bought two decent apartments and rent them out for nice income for the rest of your life. It's hard to wrap my head around how anybody could place so much money on a single bet. But then there are people who own 100m USD yachts which they only use a few times per year. In the end everything is relative to your total net worth and your monthly income. If you get a bonus every year of several millions than betting one million doesn't seem so out of line anymore. Also what if you find out that your wife wants to divorce you, wouldn't it be a good time to start gambling heavily? All the money you lose would have been 50% of your wife, so better to lose it at the casino. And if you manage to win than you might be able to hide some of the winnings until after the divorce.

It is going out of context guys ., we have all our "Maybe's" in His reason but the main thing there is that He losses that amount because of His own stupidity and whatever his reason and decision still he cannot win back that huge amount.
maybe better for all of us to look about the  negative side of this story and not those stories behind the betting.

[Obari]

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?

I pray never to be tempted or let me say enticed or even say addicted to this very height of gambling because what on earth was the man thinking to have gambled away over 1.4m just like that? Well I hope the money belongs to him and not to some group of persons or a company or firm.
But I hope this serves as a very big lesson to the gambling community because most times we become so sure and confident in a match or game that we forget a principle that we shouldn't use the money we can't afford to lose to gamble and I will be glad if the thread is updated on the recent happenings with the gambler.

[libert19]

I have had such thinking several times while gambling (Usually while playing Dice)— If I bet huge amount at low odds I'll be making easy money. Chances of losing such bets are low but never null. I'm glad I didn't go way of this thinking.

[_act_]

I have had such thinking several times while gambling (Usually while playing Dice)— If I bet huge amount at low odds I'll be making easy money. Chances of losing such bets are low but never null. I'm glad I didn't go way of this thinking.

I have been gambling before I joined this forum, I have this thinking before, that if I gamble with lower odds, I can win more, but it does not work like that, I can win many times, but just a single or two losses can make me lose all my money until I have no money left to gamble. Online easy access make it easier to lose more because people that bet on low odds are likely to also be betting frequently which is the other problem. I gambled like this, I lost high amount of money, I quit and I now prefer to use high odds but not too high.

[mak013]

As for me - it is rare but possible situation. The gambler tries to get guaranteed profit using the big sum with minimal risk. The most times it works normally but there are situations, when the gambler lose everything in such a way. The problem is that he need to make more than same 100 bets just to return his deposit and if it was the main part of his money - he hasn`t enough money to make these bets and he have to risk with high odds.
I was in the same situation(but the sum was not critical for me) - i was winning several weeks and thought that i found an ideal way of income but after that i lost about 80% of my gambling money with such a bet and lost the rest trying to return it as fast as possible.

[Fredomago]

I have had such thinking several times while gambling (Usually while playing Dice)— If I bet huge amount at low odds I'll be making easy money. Chances of losing such bets are low but never null. I'm glad I didn't go way of this thinking.

I usually see this kind of bets with sport betting mostly in the live bets where the chance of winning is really high, but like what you mentioned losing is not a null the chance of getting a shitty outcome always remain when you are inside gambling, either casino games or sports betting the chance of losing is still possible to happen.

Op's topic is a good example that even you pick 99% of winning you can still lose your bet and there's nothing you can do to change the outcome once it's already been concluded.