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Author Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds!  (Read 6630 times)
Silberman
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February 16, 2023, 06:48:12 PM
 #461

This is normal in gambling, it doesn't matter whether the fund amount is big or small. Maybe the gambler now realizes how risky it was to bet such a large amount. There is no such thing as low risk in gambling and this gambler's loss will warn many more gamblers to make decisions without being overconfident. After seeing this loss, I was horrified to see how important it is to know the risks involved before making any financial decision.
Well, maybe it's normal for those who are used to losing a lot of money in gambling.
But those who see it will probably blame him because he has used a lot of money to bet and we always recommend betting small amounts.
The risk of losing in gambling will always be there and we have to be smart in managing the risk so it doesn't become big.
If we can avoid the risk of losing huge amounts of money, we will always be careful when using money to gamble.

He can afford to gamble with this amount of money which means he was a millionaire. Having millions of dollars and using them in the most risky places without any risk management is not a good decision. He had to pay a huge price to understand that there is never 100% sure in betting. So it was a great lesson for him to learn by losing millions of dollars. And his experience will make other gamblers more interested in risk management.
That would be the best possible scenario, but there is always the possibility that instead they had problems with their gambling and they thought such bet was impossible to lose only to learn the hard way this was not the case, and while this is a valuable lesson, is it not something most of us should already know from our experience with the real world? After all no one succeeds at everything all the time and losing that much money to learn this kind of lesson is a price too high to pay, even if that gambler could afford it.
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February 16, 2023, 07:12:55 PM
 #462

I still do not understand why many members here are complaining about this player loss, this is not different from all of our experiences acumulatively, I have gambled a lot and I have lost severely but that is notwithstanding we move.

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February 16, 2023, 07:26:18 PM
 #463

I will never experience this incidence and I pray I never do because I see no single reason why someone will have the guts to gamble away  such huge sum of money on  a single bet, yes I understand that the reward would have been much if the gamble was successful but now it wasn't successful and I'm sure that no matter how wealthy one might be, gambling away such amount of money definitely must have an impact on his account and I feel for him if the money he used wasn't his money because I could only imagine how much pressure would be on him now but I hope he doesn't think of suicide as an option now and I also hope that this serves as a lesson to we other gamblers not to gamble with money we can't afford to lose as nothing is gauranteed in gambling.

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February 16, 2023, 08:48:27 PM
 #464

I will never experience this incidence and I pray I never do because I see no single reason why someone will have the guts to gamble away  such huge sum of money on  a single bet, yes I understand that the reward would have been much if the gamble was successful but now it wasn't successful and I'm sure that no matter how wealthy one might be, gambling away such amount of money definitely must have an impact on his account and I feel for him if the money he used wasn't his money because I could only imagine how much pressure would be on him now but I hope he doesn't think of suicide as an option now and I also hope that this serves as a lesson to we other gamblers not to gamble with money we can't afford to lose as nothing is gauranteed in gambling.
Even though other people have assumed he is a billionaire gambler but I'm not sure he is not ready to accept losing that bet, he suffers from losing bets and hopes he doesn't commit suicide because that's the worst impact of losing without any consideration of risk, so never increase the bet of all the funds you have in the gambling account balance, but use only part of it because gambling does not guarantee a win even in sports betting, so don't focus on gambling to increase profits but prioritize gambling for entertainment.

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serjent05
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February 16, 2023, 09:19:53 PM
 #465

I will never experience this incidence and I pray I never do because I see no single reason why someone will have the guts to gamble away  such huge sum of money on  a single bet, yes I understand that the reward would have been much if the gamble was successful but now it wasn't successful and I'm sure that no matter how wealthy one might be, gambling away such amount of money definitely must have an impact on his account and I feel for him if the money he used wasn't his money because I could only imagine how much pressure would be on him now but I hope he doesn't think of suicide as an option now and I also hope that this serves as a lesson to we other gamblers not to gamble with money we can't afford to lose as nothing is gauranteed in gambling.

Well, you will never experience if you don't bet like what the person stated in the article did.  Sometimes people tend to think that they are sure about the result when they saw a team is leading by a distance, so they bet all in but the sad thing is, the result of any match is still unknown until the game end.

I do think that the amount of money lost is the bettor's own money, else he can't utilize it and bet the amount easily.  I also think that the person is a multi-millionaire since he has the capacity to wager $1.4m without hesitation.

I will never experience this incidence and I pray I never do because I see no single reason why someone will have the guts to gamble away  such huge sum of money on  a single bet, yes I understand that the reward would have been much if the gamble was successful but now it wasn't successful and I'm sure that no matter how wealthy one might be, gambling away such amount of money definitely must have an impact on his account and I feel for him if the money he used wasn't his money because I could only imagine how much pressure would be on him now but I hope he doesn't think of suicide as an option now and I also hope that this serves as a lesson to we other gamblers not to gamble with money we can't afford to lose as nothing is gauranteed in gambling.
Even though other people have assumed he is a billionaire gambler but I'm not sure he is not ready to accept losing that bet, he suffers from losing bets and hopes he doesn't commit suicide because that's the worst impact of losing without any consideration of risk, so never increase the bet of all the funds you have in the gambling account balance, but use only part of it because gambling does not guarantee a win even in sports betting, so don't focus on gambling to increase profits but prioritize gambling for entertainment.

The moment he bet on that money, I think he is ready to accept that he can lose it.  How sure are you that he is not ready?  Did you talked to the guy?
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February 16, 2023, 09:31:19 PM
 #466

I will never experience this incidence and I pray I never do because I see no single reason why someone will have the guts to gamble away  such huge sum of money on  a single bet, yes I understand that the reward would have been much if the gamble was successful but now it wasn't successful and I'm sure that no matter how wealthy one might be, gambling away such amount of money definitely must have an impact on his account and I feel for him if the money he used wasn't his money because I could only imagine how much pressure would be on him now but I hope he doesn't think of suicide as an option now and I also hope that this serves as a lesson to we other gamblers not to gamble with money we can't afford to lose as nothing is gauranteed in gambling.
That is for you mate, but don't forget we have high wagerer who has rolled over ×2 of that amount and have won a lot more.
-It's hard to know the right state of things with the gamblers since he is not the one sharing this story, so there isn't many details to work with and we can know how much his total winning has been previously or after the loss.
-if you have been following records of winnings and losing on big casinos like a stake, there you will discover that we have a track record of such huge amounts of losses and at the same time winner, just like trading we must have top losers and top gainers at the same time.
-But it is best you apply everything according to your own capacity so I can understand your point.
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February 16, 2023, 09:32:30 PM
 #467

What a story! But I would love it if you can clarify better. What I could infer from your story is that your friend started with a safe bet but ended aggressively, am I correct? Because we can't call it a safe bet anymore when the gambler resolved to bet all his money in just a live game, am I also correct?

No game is certain except that some are worth trusting, but when it has become live, I see nothing safe in that. Perhaps, people often mistake the term "safe bet."
There is no need for him to clarify because you already got it right. In gambling, there is no really safe bet here because all games has a risk even if we are playing at a low odd (high win chance game) but some bettors only use the term safe bet because they are betting smaller amounts.

What happened to @JooBra 's friend is too common. We always start small and if we see that our bankroll is rising, that is the time that our temperature rises as well and we start increasing our bets. I can even blame the casino for this before. I thought the admin is tracking my account and when I start to bet high, they made me lose intentionally xd.

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February 17, 2023, 06:20:10 AM
 #468

~Snip~
Of course every gambler has experienced something where they dare to take risks because there is an opportunity to be able to win a lot of money, but I consider that kind of thing to be natural because every gambler definitely wants and has the option to be able to have large amounts of money from the results of the gambling he has do.
Only certain people can do budget calculations for gambling, not only rich gamblers, but even small gamblers who only have limited money will never be able to calculate their budget if they are really crazy about gambling and think gambling is everything for them.
In fact, they are not aware and think about how much betting money they will lose if they already have the option of getting rich or getting richer from the results of gambling.
I couldn't agree with you more that taking unnecessary risks while gambling can lead to disastrous financial outcomes. As a gambler, I know the rush that comes from taking chances, but we must always have our wits about us and not let the prospect of huge payouts cloud our judgement. Whether we are a modest or wealthy gambler, we must set and adhere to a budget. All too often, in the midst of the thrill of the moment, we fail to account for the financial risk that exists should our plans fail. We should exercise caution and bet wisely because even with a large bankroll, there is no assurance of large wins. Taking these precautions will allow us to experience the excitement of gambling while lowering the likelihood that we will sustain significant losses.
Even so, there are actually ways to minimize losing money when making large bets and I have studied and reset myself, but I just haven't tried implementing it.
That is, by betting large amounts on a game or bet that we really understand and fully understand, so that we can place bets that are absolutely right, in that way we can have a bigger chance of winning.
But we have to really study and really understand a game so we don't make a mistake in betting.
Maybe there are only a few gamblers who can master a game, but we can start to study it with the aim of being able to win large amounts.
And this method I only recommend for those who dare to take big risks.

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February 17, 2023, 06:22:52 AM
 #469

This is normal in gambling, it doesn't matter whether the fund amount is big or small. Maybe the gambler now realizes how risky it was to bet such a large amount. There is no such thing as low risk in gambling and this gambler's loss will warn many more gamblers to make decisions without being overconfident. After seeing this loss, I was horrified to see how important it is to know the risks involved before making any financial decision.
Well, maybe it's normal for those who are used to losing a lot of money in gambling.
But those who see it will probably blame him because he has used a lot of money to bet and we always recommend betting small amounts.
The risk of losing in gambling will always be there and we have to be smart in managing the risk so it doesn't become big.
If we can avoid the risk of losing huge amounts of money, we will always be careful when using money to gamble.
the involve person is truly a Millionaire and not giving a big issue about losing a Million dollar , but if he is a ordinary person that only got a chance having this amount once in a lifetime? surely he will regret this forever or maybe end his life for good.
and avoid losing? this is something we cannot predict in gambling owrld.
We don't know if he really is a millionaire or someone who has that kind of money and uses it for gambling with the hope that he can win a lot of money from gambling.
What is clear, it was the wrong decision, especially when using that much money.
If it were me, I would regret it for the rest of my life, blame myself, and probably wouldn't be able to face life.
That is the biggest risk of gambling that can make us bankrupt and unable to get up again.

This is normal in gambling, it doesn't matter whether the fund amount is big or small. Maybe the gambler now realizes how risky it was to bet such a large amount. There is no such thing as low risk in gambling and this gambler's loss will warn many more gamblers to make decisions without being overconfident. After seeing this loss, I was horrified to see how important it is to know the risks involved before making any financial decision.
Well, maybe it's normal for those who are used to losing a lot of money in gambling.
But those who see it will probably blame him because he has used a lot of money to bet and we always recommend betting small amounts.
The risk of losing in gambling will always be there and we have to be smart in managing the risk so it doesn't become big.
If we can avoid the risk of losing huge amounts of money, we will always be careful when using money to gamble.

He can afford to gamble with this amount of money which means he was a millionaire. Having millions of dollars and using them in the most risky places without any risk management is not a good decision. He had to pay a huge price to understand that there is never 100% sure in betting. So it was a great lesson for him to learn by losing millions of dollars. And his experience will make other gamblers more interested in risk management.
And that is also a good lesson for us not to gamble using a lot of money.
Without having risk management and self-control, we will only accept the risk of losing money without being able to recover the amount we lost before.
Even though we can win from gambling, it cannot make up for lost money.
Especially if there are people who hope to get money from gambling, they will find it difficult to get it.

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February 17, 2023, 12:31:23 PM
 #470

~Snip~
Of course every gambler has experienced something where they dare to take risks because there is an opportunity to be able to win a lot of money, but I consider that kind of thing to be natural because every gambler definitely wants and has the option to be able to have large amounts of money from the results of the gambling he has do.
Only certain people can do budget calculations for gambling, not only rich gamblers, but even small gamblers who only have limited money will never be able to calculate their budget if they are really crazy about gambling and think gambling is everything for them.
In fact, they are not aware and think about how much betting money they will lose if they already have the option of getting rich or getting richer from the results of gambling.
I couldn't agree with you more that taking unnecessary risks while gambling can lead to disastrous financial outcomes. As a gambler, I know the rush that comes from taking chances, but we must always have our wits about us and not let the prospect of huge payouts cloud our judgement. Whether we are a modest or wealthy gambler, we must set and adhere to a budget. All too often, in the midst of the thrill of the moment, we fail to account for the financial risk that exists should our plans fail. We should exercise caution and bet wisely because even with a large bankroll, there is no assurance of large wins. Taking these precautions will allow us to experience the excitement of gambling while lowering the likelihood that we will sustain significant losses.
Even so, there are actually ways to minimize losing money when making large bets and I have studied and reset myself, but I just haven't tried implementing it.
That is, by betting large amounts on a game or bet that we really understand and fully understand, so that we can place bets that are absolutely right, in that way we can have a bigger chance of winning.
But we have to really study and really understand a game so we don't make a mistake in betting.
Maybe there are only a few gamblers who can master a game, but we can start to study it with the aim of being able to win large amounts.
And this method I only recommend for those who dare to take big risks.


So it's better to have our own understanding about that specific game so that we can put our bet in very safe and prevent losing streak. But if we already knew That specific game it will lead us to a good bettors but  we all know that  every put our bet it will depends on our luck it because through our luck we will win. And also we all know that if we need to get higher profit then we will bet a big amount and take the risk for aiming the win.

R


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February 17, 2023, 01:09:15 PM
 #471

~Snip~
Of course every gambler has experienced something where they dare to take risks because there is an opportunity to be able to win a lot of money, but I consider that kind of thing to be natural because every gambler definitely wants and has the option to be able to have large amounts of money from the results of the gambling he has do.
Only certain people can do budget calculations for gambling, not only rich gamblers, but even small gamblers who only have limited money will never be able to calculate their budget if they are really crazy about gambling and think gambling is everything for them.
In fact, they are not aware and think about how much betting money they will lose if they already have the option of getting rich or getting richer from the results of gambling.
I couldn't agree with you more that taking unnecessary risks while gambling can lead to disastrous financial outcomes. As a gambler, I know the rush that comes from taking chances, but we must always have our wits about us and not let the prospect of huge payouts cloud our judgement. Whether we are a modest or wealthy gambler, we must set and adhere to a budget. All too often, in the midst of the thrill of the moment, we fail to account for the financial risk that exists should our plans fail. We should exercise caution and bet wisely because even with a large bankroll, there is no assurance of large wins. Taking these precautions will allow us to experience the excitement of gambling while lowering the likelihood that we will sustain significant losses.
Even so, there are actually ways to minimize losing money when making large bets and I have studied and reset myself, but I just haven't tried implementing it.
That is, by betting large amounts on a game or bet that we really understand and fully understand, so that we can place bets that are absolutely right, in that way we can have a bigger chance of winning.
But we have to really study and really understand a game so we don't make a mistake in betting.
Maybe there are only a few gamblers who can master a game, but we can start to study it with the aim of being able to win large amounts.
And this method I only recommend for those who dare to take big risks.


So it's better to have our own understanding about that specific game so that we can put our bet in very safe and prevent losing streak. But if we already knew That specific game it will lead us to a good bettors but  we all know that  every put our bet it will depends on our luck it because through our luck we will win. And also we all know that if we need to get higher profit then we will bet a big amount and take the risk for aiming the win.
In as much risks differs in levels and heights, there is nothing as a safe bet as far as gambling and betting is concerned, you might find a bet that has a very low risk levels, which simply means there is a high chance of winning and a low chance of losing, so there is no bet that is a safe bet, in every bet we place, there is always a chance that we will lose it, though that chance is sometimes very low, still does not change the fact that there is a risk in it.

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February 17, 2023, 01:43:07 PM
 #472

So it's better to have our own understanding about that specific game so that we can put our bet in very safe and prevent losing streak. But if we already knew That specific game it will lead us to a good bettors but  we all know that  every put our bet it will depends on our luck it because through our luck we will win. And also we all know that if we need to get higher profit then we will bet a big amount and take the risk for aiming the win.

I believe the user who made this kind of bet knew exactly what he is betting. Actually the bet type that choose is almost sure ball because there’s only few time left in the clock to made a 3 more successful goal. A 3 goal in soccer on the second half is very hard to do since both team is already exhausted while the goal keeper energy level is still the same since he is not running all the time.

Bad luck just him hard at that bet and that’s part of gambling since it’s not gambling if there’s no risk involved no matter how thorough you analyze a specific sports.

.
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February 17, 2023, 04:25:54 PM
 #473

So it's better to have our own understanding about that specific game so that we can put our bet in very safe and prevent losing streak. But if we already knew That specific game it will lead us to a good bettors but  we all know that  every put our bet it will depends on our luck it because through our luck we will win. And also we all know that if we need to get higher profit then we will bet a big amount and take the risk for aiming the win.

I believe the user who made this kind of bet knew exactly what he is betting. Actually the bet type that choose is almost sure ball because there’s only few time left in the clock to made a 3 more successful goal. A 3 goal in soccer on the second half is very hard to do since both team is already exhausted while the goal keeper energy level is still the same since he is not running all the time.

Bad luck just him hard at that bet and that’s part of gambling since it’s not gambling if there’s no risk involved no matter how thorough you analyze a specific sports.

Indeed, right, almost a sure bet that's the reason why the odd is really small since the percentage of winning is almost a sure deal, but things happen like and no one can control the situation, if you'll going to look on it and you will assess that type of game where the time is really controlled by the team who have a good lead.

But, the outcome favors the underdog and if there's someone who is really a risk taker who bet for that underdog are surely enjoying the multipliers of his bet.

..Stake.com..   ▄████████████████████████████████████▄
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February 17, 2023, 04:33:55 PM
 #474

So it's better to have our own understanding about that specific game so that we can put our bet in very safe and prevent losing streak. But if we already knew That specific game it will lead us to a good bettors but  we all know that  every put our bet it will depends on our luck it because through our luck we will win. And also we all know that if we need to get higher profit then we will bet a big amount and take the risk for aiming the win.

I believe the user who made this kind of bet knew exactly what he is betting. Actually the bet type that choose is almost sure ball because there’s only few time left in the clock to made a 3 more successful goal. A 3 goal in soccer on the second half is very hard to do since both team is already exhausted while the goal keeper energy level is still the same since he is not running all the time.

Bad luck just him hard at that bet and that’s part of gambling since it’s not gambling if there’s no risk involved no matter how thorough you analyze a specific sports.

Indeed, right, almost a sure bet that's the reason why the odd is really small since the percentage of winning is almost a sure deal, but things happen like and no one can control the situation, if you'll going to look on it and you will assess that type of game where the time is really controlled by the team who have a good lead.

But, the outcome favors the underdog and if there's someone who is really a risk taker who bet for that underdog are surely enjoying the multipliers of his bet.

Gambling is itself risky and if you need to make a bet, then you should bet on odds which may gain you some money. Betting on odds with 1.01 is too much risky because when you will win you will get very small amount (depending upon you bet amount) but if you lose you will lose all your risked capital on that bet.

That is why we saw that the gambler mentioned in OP got over confident with 1.01 bet and unfortunately lost it all.

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February 17, 2023, 05:20:56 PM
 #475

Really a crazy idea to bet that way but I think he just want to test he's luck then try if you could win that since its a good win for him if luck is on his side. But tables turn down and he encounter a big losses so I guess its better luck next time to him, but I'm sure he regret those action he take because losing 1.4 million USD in a single bet is a bad experience to get a any gambler.
All is this thing's will happen to everyone of us if we can not control our self as we all know that in the world of gambling we must double and plan in our single moves because if greed will take our mind so there's no way out. Through greed we loss everything. And 1.4 million USD is quite big amount of money to loss and this gambler we can say is that his luck is not on his/her side for this time.
There are many who want to bet safe and bet at very low odds so that they can win the bet very easily.  And for low odds they have to bet a higher amount to get a better amount of profit.  So here this guy bet 1.4 million dollars at 1.01 Odd and if he won here he would have profited about $14,000.  But even with such an easy bet, he lost the bet and lost $1.4 million. This may be the cause of his bad luck.
I know a friend how did pretty similar thing on smaller scale, started with 500$ on safe bets and got to 3k after some time. At the end he lost on an bet when he placed live at score 1-0 (soccer 87min) that it would end with less then 3goals. In couple of minutes it was 3-1 at the end and he lost it all. The strategy can work but when to go out needs to be known.
A $500 to $3000 return means 6.00 Odd can never be a safe bet. That team was so weak that they scored a goal and offered 6 odd after 87 minutes of play.  Because they had no confidence that they would win the match.  So they offered high odds even at the last minute of the game. And it was a great trap for many to make big losses. And your friend fell victim to it too
No he was playing small odds like 1.1 for over a couple of months until he got to 3000$ in total. Maybe I explained it bad sorry.
To win $3000 at 1.1 odds, he needs to bet a minimum of $2727.  It is never possible to get $3000 by betting 1.1 odds through $500.  You seem to have misunderstood or seen something wrong. 1.1 odd means 1.1x means you will get 1.1x return of the dollar bet if you win that bet and gambling sites will also deduct some maintenance charges from here. So how does he get $500 to $3000 with 1.1 odds lol

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February 17, 2023, 05:25:56 PM
 #476

So it's better to have our own understanding about that specific game so that we can put our bet in very safe and prevent losing streak. But if we already knew That specific game it will lead us to a good bettors but  we all know that  every put our bet it will depends on our luck it because through our luck we will win. And also we all know that if we need to get higher profit then we will bet a big amount and take the risk for aiming the win.

I believe the user who made this kind of bet knew exactly what he is betting. Actually the bet type that choose is almost sure ball because there’s only few time left in the clock to made a 3 more successful goal. A 3 goal in soccer on the second half is very hard to do since both team is already exhausted while the goal keeper energy level is still the same since he is not running all the time.

Bad luck just him hard at that bet and that’s part of gambling since it’s not gambling if there’s no risk involved no matter how thorough you analyze a specific sports.

Indeed, right, almost a sure bet that's the reason why the odd is really small since the percentage of winning is almost a sure deal, but things happen like and no one can control the situation, if you'll going to look on it and you will assess that type of game where the time is really controlled by the team who have a good lead.

But, the outcome favors the underdog and if there's someone who is really a risk taker who bet for that underdog are surely enjoying the multipliers of his bet.

Gambling is itself risky and if you need to make a bet, then you should bet on odds which may gain you some money. Betting on odds with 1.01 is too much risky because when you will win you will get very small amount (depending upon you bet amount) but if you lose you will lose all your risked capital on that bet.

That is why we saw that the gambler mentioned in OP got over confident with 1.01 bet and unfortunately lost it all.
There are advantages and disadvantages to this type of betting. The advantage is that a larger amount of bet is almost guaranteed to win at these betting odds that means high possibility to gain and the disadvantage is that if you lose even one, you will lose a lot of money. But generally a gambler should not place large bets on such odds. However, these terms depend on the personal financial situation of the gambler. Moreover, we have to take risks. But if you take a risk with good betting odds, there will be higher amount of profit.

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February 17, 2023, 05:33:36 PM
 #477

There are advantages and disadvantages to this type of betting. The advantage is that a larger amount of bet is almost guaranteed to win at these betting odds that means high possibility to gain and the disadvantage is that if you lose even one, you will lose a lot of money. But generally a gambler should not place large bets on such odds. However, these terms depend on the personal financial situation of the gambler. Moreover, we have to take risks. But if you take a risk with good betting odds, there will be higher amount of profit.
Yes you are correct that mate and also it is too risky if we but our very best bet for for the game cause there are only 50% win and loss so if your money will loss then thats a big loss for a gambler but if win then a lot of money will came. We nee to know that in the world of gambling it is very good idea to gambler if they gamble using thier exist money cause if not then it's a big problem if they will loss in the game.

R


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February 17, 2023, 05:52:16 PM
 #478

No one can completely avoid the risk of losing from any kind of gambling, including sports betting. I am a football fan and probably have spent a lot of time watching and enjoying it in different leagues. But about betting, it's clear to me that there is a risk that I should really consider even though the favorite seems to win the game more often.

The favorites can also lose at any time and we shouldn't be too sure and greedy in what we do. Especially in sports matches, the favorite number of the team can win luckily even quite rarely. But for the case above, I think the gambler only has to be responsible for the loss and the decision. I tended to make the same mistake in the past, it made me lose a lot of my previous wins because of just one defeat.

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February 17, 2023, 06:30:06 PM
 #479


No he was playing small odds like 1.1 for over a couple of months until he got to 3000$ in total. Maybe I explained it bad sorry.
To win $3000 at 1.1 odds, he needs to bet a minimum of $2727.  It is never possible to get $3000 by betting 1.1 odds through $500.  You seem to have misunderstood or seen something wrong. 1.1 odd means 1.1x means you will get 1.1x return of the dollar bet if you win that bet and gambling sites will also deduct some maintenance charges from here. So how does he get $500 to $3000 with 1.1 odds lol

It's quite simple: by placing 50 bets of $500 at 1.1 odds he will win $2,500, assuming all the bets are successful. Now, the above scenario is an oversimplification, but it illustrates how a gambler can make $3000 from an initial $500.

Basically, I think you just didn't understand what JooBra was trying to say.

R


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February 17, 2023, 07:58:39 PM
 #480

.. I also think that the person is a multi-millionaire since he has the capacity to wager $1.4m without hesitation.
...
The moment he bet on that money, I think he is ready to accept that he can lose it.  How sure are you that he is not ready?  Did you talked to the guy?
$1.4m is a lot of money even for a multi-millionaire and no one will take losing such huge amount of money lightly.
If he was indeed OK with the idea of losing it then am sure he would have bet on another game with higher odds.
Choosing a game with 1.01 odds is a sign he was looking for what he expected to be a sure win. Sadly for him, things didn't go as he was expecting.

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