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

[Bushdark]

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.

The major thing here is not having making high odds but knowing what you are doing because this will help us to calculate our risk and the amount we are staking. Most times that I select games I do go for the small odds then accumulate like 10 games that the total odds might reach lime 20 or more so that staking it with some few dollars would to trigger the amount to be high.

Sometimes I do go for a single game and stake it with bigger funds so I can take less risk with high winning to loss ratio.
I have different styles I use to predict bets and make some winnings that depend on my core analysis for that particular team.

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[goinmerry]

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.

Upset really happened. Actually, it's not about the upset but I just can't believe someone is willing to gamble millions of money when in fact the return is only a few thousand. Even if that's a 99% chance of winning, I can't easily just put my million in a gambling site for betting when the return is just a few amounts.

Not saying that the bettor is dumb but with that amount, he can diversify it thru several bets playing at the odds of around 1.5.

I'd rather bet on odds as high as @2 instead of going all-in at @1.01.

[uche6215]

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.

Upset really happened. Actually, it's not about the upset but I just can't believe someone is willing to gamble millions of money when in fact the return is only a few thousand. Even if that's a 99% chance of winning, I can't easily just put my million in a gambling site for betting when the return is just a few amounts.

Not saying that the bettor is dumb but with that amount, he can diversify it thru several bets playing at the odds of around 1.5.

I'd rather bet on odds as high as @2 instead of going all-in at @1.01.

Mate I don't think thats real, but if it is how much will the gambler win from it? To me I will say just $35k and That's too bad.
Such RISK doesn't comes with REWARD.
If such a person can bet on such That's mean he can bet the unbettable lol..

[len01]

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.

Upset really happened. Actually, it's not about the upset but I just can't believe someone is willing to gamble millions of money when in fact the return is only a few thousand. Even if that's a 99% chance of winning, I can't easily just put my million in a gambling site for betting when the return is just a few amounts.

Not saying that the bettor is dumb but with that amount, he can diversify it thru several bets playing at the odds of around 1.5.

I'd rather bet on odds as high as @2 instead of going all-in at @1.01.

that guy is putting his million dollar bankroll at low odds hoping just a small win is okay. and while he may lose millions of dollars, it doesn't matter to him that it may not be part of his entire fortune.
99% chance of winning there is still 1% chance of losing. sometimes a gambler ignores these things.
if you think about it it's true that the wrong move when betting millions of dollars at odds of 1.01 is just ridiculous. because for the sake of a little profit he dared to take a 1% risk of losing and in the end it happened.
even though there are lots of odds options above 1.5 which might be more profitable. who knows what he thought at that time risking for the sake of a small profit opportunity.

[stomachgrowls]

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.

Upset really happened. Actually, it's not about the upset but I just can't believe someone is willing to gamble millions of money when in fact the return is only a few thousand. Even if that's a 99% chance of winning, I can't easily just put my million in a gambling site for betting when the return is just a few amounts.

Not saying that the bettor is dumb but with that amount, he can diversify it thru several bets playing at the odds of around 1.5.

I'd rather bet on odds as high as @2 instead of going all-in at @1.01.

that guy is putting his million dollar bankroll at low odds hoping just a small win is okay. and while he may lose millions of dollars, it doesn't matter to him that it may not be part of his entire fortune.
99% chance of winning there is still 1% chance of losing. sometimes a gambler ignores these things.
if you think about it it's true that the wrong move when betting millions of dollars at odds of 1.01 is just ridiculous. because for the sake of a little profit he dared to take a 1% risk of losing and in the end it happened.
even though there are lots of odds options above 1.5 which might be more profitable. who knows what he thought at that time risking for the sake of a small profit opportunity.

When you do have millions of dollars or simply being rich then its impossible that you cant be able to picture out those risk and it is really just that there are people who do really be able to burn up their money on just
simply trying out to earn peanuts which it isnt even worth or just simply they are really that too much confident on such bet.Its true that even its 99% winning rate but still that 1% could possibly hit.
This is always the case that would happen if you are really putting all in on a certain bet and lose up big time and just trying to snip up some small wins.Yes, we dont know if this is his overall
riches considering that he had millions and able to make bets out of that then assume that he had lots.

[libert19]

Not saying that the bettor is dumb but with that amount, he can diversify it thru several bets playing at the odds of around 1.5.

I'd rather bet on odds as high as @2 instead of going all-in at @1.01.

He probably thought that you can't lose match with such low odds. Match going south at such odds was significantly less but not null,. I think he misunderstood between the two.

[coinerer]

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 is a result of his bad luck that such incidents happen a lot because gambling results can never be guaranteed so anything can happen at any time. I once lost 1.02 odds. In this case, if the person had won the bet, he would have only made a profit of 11k dollars.  But he lost his 1.4 million dollars which is very sad and many cases have been seen where many people have won from 1-2 dollars to millions of dollars. This is called gambling

[coinerer]

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 is a result of his bad luck that such incidents happen a lot because gambling results can never be guaranteed so anything can happen at any time. I once lost 1.02 odds. In this case, if the person had won the bet, he would have only made a profit of 11k dollars.  But he lost his 1.4 million dollars which is very sad and many cases have been seen where many people have won from 1-2 dollars to millions of dollars. This is called gambling

Guy!
 If 1.00 odd can cut, then what is 1.04 odd?

I don't understand what you mean by that. 1.04 odd means 0.04x if you bet 100$ for 1.04 odd and if you win then you will get 104$ that's it.

I think gambling is not something someone can just wake up one morning and jump into.
I will say gambling is by luck and not by passion.
No matter your seriousness if you don't have the luck in gambling you are just waisting your time and dashing out your money.

Gambling is not only based on luck but often also depends on intelligence. If you don't understand anything about gambling and gamble without understanding then luck will not always help you to win.  You must acquire knowledge about gambling and do hard analysis only then you can win at gambling. So it is wrong to say that gambling always depends on luck

[bitbollo]

I would also add thats sometimes gambling is also "math" and statistics. Not only matter of "intelligence".
You must understand very well how numbers works before playing events.

Guy!
 If 1.00 odd can cut, then what is 1.04 odd?
...

Those are european odds (also called "decimals")
https://www.investopedia.com/articles/investing/042115/betting-basics-fractional-decimal-american-moneyline-odds.asp#toc-how-europeandecimal-odds-work
Enjoy an easy explanation above.

Quick explanation, 1.01 is like a percentage. You get 1% more of your wagering. if you bet at 1.00 you get back your principal without any win/loss.

In this case the user played a bet at 1.008 (less than 1% of win).
Most of the times I have seen two different approach:
- value bets (play an events that is underestimate) = you bet an odds at @2.00 meanwhile the "right" fair value should be @1.50
- play an event, even the odds is not "high". Personally I play even low odds but I don't care about "the value" but I am trying to bet event were I have the maximum confidence to hit a win!
I would suggest to take a look on my topic regarding "betting advices" (and a list of my previous bets)
https://bitcointalk.org/index.php?topic=1234109.0

[maydna]

Not saying that the bettor is dumb but with that amount, he can diversify it thru several bets playing at the odds of around 1.5.

I'd rather bet on odds as high as @2 instead of going all-in at @1.01.

He probably thought that you can't lose match with such low odds. Match going south at such odds was significantly less but not null,. I think he misunderstood between the two.

He shouldn't think like that because no matter what chance he set, he would have a chance of losing. And if he plays sports betting, he should think about the surprise factor that often appears in the middle of a match or the second half. He has to learn from his defeats and not repeat them, but that is also if he still has a lot of money to gamble again. Otherwise, he would be bankrupt because he had lost so much.

[Reatim]

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.

The only thing that matter here? is that Odd isn't that completely bringing assurance because the more you eager to win is the more the denial happens .

mentioning even all the sports bets still not a mean  that Odd can be taken as assuring , so bet with care and of course like what happened ? even if the person involve can afford losing that amount? still he is not having a hard time to accept this.

[Hypnosis00]

Not saying that the bettor is dumb but with that amount, he can diversify it thru several bets playing at the odds of around 1.5.

I'd rather bet on odds as high as @2 instead of going all-in at @1.01.

He probably thought that you can't lose match with such low odds. Match going south at such odds was significantly less but not null,. I think he misunderstood between the two.

He shouldn't think like that because no matter what chance he set, he would have a chance of losing. And if he plays sports betting, he should think about the surprise factor that often appears in the middle of a match or the second half. He has to learn from his defeats and not repeat them, but that is also if he still has a lot of money to gamble again. Otherwise, he would be bankrupt because he had lost so much.

And the truth is that we can't just rely on the odds where to bet, sometimes happens to me that I put on higher odds but still lose. And probably it can happen in the opposite way. This will tell us that winning in gambling is 50/50 chances, if we are too lucky then we have a chance but that person as OP has mentioned might use his head but he does it without hesitation and loses millions.

[rahmad2nd]

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.

Upset really happened. Actually, it's not about the upset but I just can't believe someone is willing to gamble millions of money when in fact the return is only a few thousand. Even if that's a 99% chance of winning, I can't easily just put my million in a gambling site for betting when the return is just a few amounts.

Not saying that the bettor is dumb but with that amount, he can diversify it thru several bets playing at the odds of around 1.5.

I'd rather bet on odds as high as @2 instead of going all-in at @1.01.

Because of that, the man made a bet with a very fantastic value. this is clear, because on paper the odds @1.01 indicate that the fight is almost absolutely owned by the superior team. in fact, I assume, that man often bets large amounts like he did on the bet between Los Angeles-Jaguar. unfortunately luck was not on his side, in the end he had to be willing to lose 1.4 USD.

It's different when you bet with odds @2 or, @1.5. which means, a team that is not seeded has the chance to hold a draw, or even vice versa. I think, for gamblers who have large finances, betting large amounts is not a problem even though the available odds are very low. Imagine, if the man wins, $11k is not a small amount of money and the man makes his fortune in just a short time.

But the problem is, in sports betting anything can happen and there is no definite formula that a strong team will always win matches.

[Dunamisx]

Gamblers has this two options to either win or loose when they gambles and either of the two must occur but we sometimes seems to be carried away thinking that things always work out as expected then we gamble only to discover that we are only deceiving ourselves, also we must not borrow money to gamble or uses other people's fund in our care for gambling just because we are too confidence in what we are seing which may eventually be far from reality, anything that involves risk must be done with caution just like in the case of gambling.

[Hamphser]

Not saying that the bettor is dumb but with that amount, he can diversify it thru several bets playing at the odds of around 1.5.

I'd rather bet on odds as high as @2 instead of going all-in at @1.01.

He probably thought that you can't lose match with such low odds. Match going south at such odds was significantly less but not null,. I think he misunderstood between the two.

He shouldn't think like that because no matter what chance he set, he would have a chance of losing. And if he plays sports betting, he should think about the surprise factor that often appears in the middle of a match or the second half. He has to learn from his defeats and not repeat them, but that is also if he still has a lot of money to gamble again. Otherwise, he would be bankrupt because he had lost so much.

And the truth is that we can't just rely on the odds where to bet, sometimes happens to me that I put on higher odds but still lose. And probably it can happen in the opposite way. This will tell us that winning in gambling is 50/50 chances, if we are too lucky then we have a chance but that person as OP has mentioned might use his head but he does it without hesitation and loses millions.

If you are someone who is willing to make use and bet millions of dollars and been aware that you could only get some thousand then its impossible that you wont really be thinking that it isnt really just not worthy
as we do all know but still he do push up such bet and continue and lost it up.For sure he does still have lots of millions left on his stash.No one will really be making out an all in and trying to bet all of his riches on a single match.We dont know the story behind but im sure that this dude is hella of a rich guy.You cant make out million dollar bet if you dont have those riches.
1.01 odds doesnt really ensure winning even 99% win is there but 1% is still could mess up your life. 

[capedbaldy]

And the truth is that we can't just rely on the odds where to bet, sometimes happens to me that I put on higher odds but still lose. And probably it can happen in the opposite way. This will tell us that winning in gambling is 50/50 chances, if we are too lucky then we have a chance but that person as OP has mentioned might use his head but he does it without hesitation and loses millions.

Actually he made a risky bet in sports betting because the odds cost him millions of dollars, so we can learn from him that the analysis of placing high odds is sometimes unreliable because it all depends on luck, I was surprised that he placed a million dollar bet because he had predicted it with 95% certainty to win that bet but he lost because there is no guarantee to predict the sports bet.

[lienfaye]

I was surprised that he placed a million dollar bet because he had predicted it with 95% certainty to win that bet but he lost because there is no guarantee to predict the sports bet.

It's a risky move. He bet millions to win a low amount thinking it's a sure win. But unfortunately his expectation didn't happened, I can't imagine how he feel after seeing the result. This is a lesson for the gamblers to not be too confident and don't risk a huge money if you can't afford to lose it.

Regardless how sure you are on the winning team because of the odds, still, it's not guaranteed.

[ethereumhunter]

I was surprised that he placed a million dollar bet because he had predicted it with 95% certainty to win that bet but he lost because there is no guarantee to predict the sports bet.

It's a risky move. He bet millions to win a low amount thinking it's a sure win. But unfortunately his expectation didn't happened, I can't imagine how he feel after seeing the result. This is a lesson for the gamblers to not be too confident and don't risk a huge money if you can't afford to lose it.

Regardless how sure you are on the winning team because of the odds, still, it's not guaranteed.

He was a real risk taker having bet millions trying to win that game. He shouldn't have done that because no matter the bet, there would have been a risk of losing money. And he may also be feeling overly confident and want to test how good his luck is.

True, we must remember that gambling has two choices: winning and losing. We shouldn't be too confident, hope too much that we can win, and the most important thing is not to place too big bets.

[btc78]

It is a result of his bad luck that such incidents happen a lot because gambling results can never be guaranteed so anything can happen at any time.

actually it is not bad luck but irresponsibility mate, 1.4 million? where in the world that you will be betting this for single shot? will never do this.

I once lost 1.02 odds. In this case, if the person had won the bet, he would have only made a profit of 11k dollars. 

but with so cheap amount of course? because you will not abandon your big money with this 1.02 odds.

But he lost his 1.4 million dollars which is very sad and many cases have been seen where many people have won from 1-2 dollars to millions of dollars. This is called gambling

winning million dollars from 1-2 dollars bet? maybe this only happens in Lottery but rarely in other gambling.

[Mr. Magkaisa]

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.

Upset really happened. Actually, it's not about the upset but I just can't believe someone is willing to gamble millions of money when in fact the return is only a few thousand. Even if that's a 99% chance of winning, I can't easily just put my million in a gambling site for betting when the return is just a few amounts.

Not saying that the bettor is dumb but with that amount, he can diversify it thru several bets playing at the odds of around 1.5.

I'd rather bet on odds as high as @2 instead of going all-in at @1.01.

  -   We can't do anything about that mate, it's obvious that the bettor who did that is a rich person who has a penchant for wasting money on gambling.

Most people indeed regret the amount of the loss because with 1M$ you can live a simple life that is not difficult, and have a business and a car no matter what the truth is, but in reality, it seems like nothing and just like a coin to him.