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

[serjent05]

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.

Indeed what Joobra stated is easily understood, since he said he was playing for over a couple of months thus, the player bet $500  several times on a 1.1 odds and accumulated $3000 winnings.  Surely coinerer failed to see and understand what JooBra is trying to convey.

.. 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.

For sure the person is contemplating on how he lost that huge amount.  It maybe a small amount for the person who wager it but still million is million and not many people have it in their hands.  This story simly tells us that there is no sure win in gambling.

[milewilda]

.. 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.

Yeah no one is stupid to bet that much and expect loss, rich gamblers may don't care for $100k bets but 14x of this base amount should hurt them and it must have some consequences, IMHO. Especially choosing low multi and betting high may destroy yearly profit on rare matches so better stop adding low odd games on coupons let alone gambling $1.4mln on 1.01x odd.

Well, it their money then its their rules on how they would really be making use of it because not all would really be that sensible in towards their actions and its really that too dumb for someone to make out this kind of bet with having that very low odds or something not really that worth but since there are ones who could afford on doing so then let them be.It is really just that people would really be that amazed on how these fellas do able to afford on having this kind of huge bet.It is really just sad that on a 1.01 bet or odds did really make out some disastrous outcome which it isnt really that surprising considering that we are really that
indeed dealing with gambling world and this is how it works and possibly could happen.

[Wiwo]

.. 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 talk to the guy?

$1.4m is a lot of money even for a multi-millionaire and no one will take losing such a 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.

Yeah, no one is stupid to bet that much and expect a loss, rich gamblers may don't care for $100k bets but 14x of this base amount should hurt them and it must have some consequences, IMHO. Especially choosing low multi and betting high may destroy yearly profit on rare matches so better stop adding low odd games on coupons let alone gambling $1.4mln on 1.01x odd.

You make a point there $1.4 millions lose is a huge amount to be lost in a bet and even rich gamblers will feel the impact of that amount on their balance sheet.
-We have seen how some rich guys gamble with huge amounts without minding the what others think or feel about the amount.
-I read some time ago how a rich kid gambled away an amount close to 30k+ million in a night out, and this incident raised a lot of discussions everywhere on the internet.

[rahmad2nd]

.. 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.

Yes that's true, and we all totally agree with what you're saying. that $1.4 million, is a lot of money. even if converted to my local currency, that kind of money can buy quite a luxury property. but in fact, the man is risking money with a very fantastic value, even though the odds provided by the dealer are very low.

I doubt, if the man does not know the risks if what happens does not match his expectations. I'm pretty sure, that this guy often bets fantastic amounts. the reason is, he doesn't hesitate to bet $ 1.4 million at odds @ 1.01. hypothetically, only the financially wealthy would be happy to risk it. for us, that would be absolutely impossible.

But if we refer to the available odds reference, in theory, on paper this man should have a very high probability of winning from his bet. Unfortunately, in sports, anything can happen as long as the game is still going on and the fact is the guy lost. regardless of sad or not, the fact is we can't know for sure because after all we don't know the man's background.

[wxa7115]

Yeah, no one is stupid to bet that much and expect a loss, rich gamblers may don't care for $100k bets but 14x of this base amount should hurt them and it must have some consequences, IMHO. Especially choosing low multi and betting high may destroy yearly profit on rare matches so better stop adding low odd games on coupons let alone gambling $1.4mln on 1.01x odd.

You make a point there $1.4 millions lose is a huge amount to be lost in a bet and even rich gamblers will feel the impact of that amount on their balance sheet.
-We have seen how some rich guys gamble with huge amounts without minding the what others think or feel about the amount.
-I read some time ago how a rich kid gambled away an amount close to 30k+ million in a night out, and this incident raised a lot of discussions everywhere on the internet.

Do you have an article about this? I made a quick search and could not find more about this, as losing 30 million in a single night is unacceptable, even if the parents of the kid were billionaires that is an amount of money they cannot make back in a single day, so even their parents must have felt that loss.

In any case we must learn from these cases and remember that even if gambling is a very entertaining and interesting hobby, some limits must be set or our losses could grow to an unacceptable level.

[kotajikikox]

.. 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 talk to the guy?

$1.4m is a lot of money even for a multi-millionaire and no one will take losing such a 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.

Yeah, no one is stupid to bet that much and expect a loss, rich gamblers may don't care for $100k bets but 14x of this base amount should hurt them and it must have some consequences, IMHO. Especially choosing low multi and betting high may destroy yearly profit on rare matches so better stop adding low odd games on coupons let alone gambling $1.4mln on 1.01x odd.

You make a point there $1.4 millions lose is a huge amount to be lost in a bet and even rich gamblers will feel the impact of that amount on their balance sheet.
-We have seen how some rich guys gamble with huge amounts without minding the what others think or feel about the amount.
-I read some time ago how a rich kid gambled away an amount close to 30k+ million in a night out, and this incident raised a lot of discussions everywhere on the internet.

what you read is about Kid losing million in one night but what this topic tackled is 1.4 million in single bet and that is far different to compare mate, I will never let myself doing this even if I become millionaire in future .
I would rather give that amount to the poor and gamble only part of it than losing it to Gambling owner.
if there are other that can update us all what and whom that person doing now after this huge losing .

[ethereumhunter]

what you read is about Kid losing million in one night but what this topic tackled is 1.4 million in single bet and that is far different to compare mate, I will never let myself doing this even if I become millionaire in future .
I would rather give that amount to the poor and gamble only part of it than losing it to Gambling owner.
if there are other that can update us all what and whom that person doing now after this huge losing .

It would not be worth our effort to get that much money if only for gambling and I agreed to give that amount to the poor because the money would be more valuable for them to survive. That is why we must limit the money in gambling so that we do not lose more money. Thus, we can still gamble in moderation and have money for other things more important than just gambling. The person may go through a deep depression because they have lost so much money that we can't imagine it.

[slapper]

.. 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.

Yes that's true, and we all totally agree with what you're saying. that $1.4 million, is a lot of money. even if converted to my local currency, that kind of money can buy quite a luxury property. but in fact, the man is risking money with a very fantastic value, even though the odds provided by the dealer are very low.

I doubt, if the man does not know the risks if what happens does not match his expectations. I'm pretty sure, that this guy often bets fantastic amounts. the reason is, he doesn't hesitate to bet $ 1.4 million at odds @ 1.01. hypothetically, only the financially wealthy would be happy to risk it. for us, that would be absolutely impossible.

But if we refer to the available odds reference, in theory, on paper this man should have a very high probability of winning from his bet. Unfortunately, in sports, anything can happen as long as the game is still going on and the fact is the guy lost. regardless of sad or not, the fact is we can't know for sure because after all we don't know the man's background.

Whilst I do indeed concur with your sentiments, it must be underscored that the colossal sum of $1.4 million should not be dismissed lightly as it represents a significant gamble. Nevertheless, it appears that this gentleman is a connoisseur of the gambling industry and thus, is courage to wagering exorbitant sums of money. One is left to ponder if he has achieved similar conquests in the past or is merely accustomed to the exhilaration of the prospect of jeopardizing such a prodigious amount. Irrespective, the odds may have been favorable, however, in sports, the vagaries of fate can quickly upend predictions. Such ventures are replete with uncertainty and even the most seasoned gamblers can be felled by a single misfortune. That being said, if one possesses the resources to spare, why not embark upon such a risk? That being stated, one cannot help but speculate upon this gentleman's reaction upon losing the bet. I mean, let us be frank here, $1.4 million down the drain?! That would undoubtedly prove to be an exceedingly bitter pill to swallow!

[AmoreJaz]

what you read is about Kid losing million in one night but what this topic tackled is 1.4 million in single bet and that is far different to compare mate, I will never let myself doing this even if I become millionaire in future .
I would rather give that amount to the poor and gamble only part of it than losing it to Gambling owner.
if there are other that can update us all what and whom that person doing now after this huge losing .

It would not be worth our effort to get that much money if only for gambling and I agreed to give that amount to the poor because the money would be more valuable for them to survive. That is why we must limit the money in gambling so that we do not lose more money. Thus, we can still gamble in moderation and have money for other things more important than just gambling. The person may go through a deep depression because they have lost so much money that we can't imagine it.

every person has their own reasons why they do such kind of decision. some people have the luxury to lose multi-million dollar bet in one shot without much worry involved. whereas, most will just prefer to save that money for more important things. if you are in his position, i don't think you will think of charitable acts while you want to bet your much anticipated game. most gamblers don't think of being charitable while playing. let's accept such fact.

[capedbaldy]

every person has their own reasons why they do such kind of decision. some people have the luxury to lose multi-million dollar bet in one shot without much worry involved. whereas, most will just prefer to save that money for more important things. if you are in his position, i don't think you will think of charitable acts while you want to bet your much anticipated game. most gamblers don't think of being charitable while playing. let's accept such fact.

we can assume like you said but if we check the details of his goals he gambled millions of dollars considering the high odds for him to win thousands of dollars on a $1.4 million bet, so the gamble is ridiculous for unpredictable sports betting and he should be able to use those funds for gambling the gain is worth more than the big loss.

[Wiwo]

what you read is about Kid losing million in one night but what this topic tackled is 1.4 million in single bet and that is far different to compare mate, I will never let myself doing this even if I become millionaire in future .
I would rather give that amount to the poor and gamble only part of it than losing it to Gambling owner.
if there are other that can update us all on what and whom that person doing now after this huge losing.

I understand the fact that the two scenarios are different, but then we can also relate to both since they're talking about losses in a casino at a go, while the kid's own story may sound different because he spent that huge amount on betting and others activities in the casino.
-On the other hand, the ops mentioned in this thread lost the $1.4 million in one bet which makes it different from the first story but then we are discussing waste or loses on casinos activities just to gain experience from the both cases and how we view loses from our different perspective.

[Chikito]

we can assume like you said but if we check the details of his goals he gambled millions of dollars considering the high odds for him to win thousands of dollars on a $1.4 million bet, so the gamble is ridiculous for unpredictable sports betting and he should be able to use those funds for gambling the gain is worth more than the big loss.

That's why the gambler must have experience and emotional stability when betting. Nothing to predict what happen in the future. Sometimes he guesses the truth and sometimes is wrong. But if he has both, I believe that case will nothing happen again in the future.

However, on another side, behind the loss, there is an advantage which casino got from the gambler, yes, the casino got a profit. the casino is really like the richest gamblers who haven't emotional control. the casino will invite them to always play until their money runs out.

[lienfaye]

However, on another side, behind the loss, there is an advantage which casino got from the gambler, yes, the casino got a profit. the casino is really like the richest gamblers who haven't emotional control. the casino will invite them to always play until their money runs out.

Indeed. When a gambler lose, the casino win, and often, that's the case because of the house edge. So when you play and you can't handle the possibility that you might lose your money (since it's likely to happen) then don't try to gamble at all. Because it can affect you in every aspect negatively once you're not able to compose yourself once you lose.

Well, the profit is indeed attractive because we can win huge with low bet like in lottery or slots. But it's solely depending on luck hence expect the unexpected. Riskier if the situation is you bet million to earn thousand dollars (like the gambler in this topic), such a waste.

[death69]

we can assume like you said but if we check the details of his goals he gambled millions of dollars considering the high odds for him to win thousands of dollars on a $1.4 million bet, so the gamble is ridiculous for unpredictable sports betting and he should be able to use those funds for gambling the gain is worth more than the big loss.

That's why the gambler must have experience and emotional stability when betting. Nothing to predict what happen in the future. Sometimes he guesses the truth and sometimes is wrong. But if he has both, I believe that case will nothing happen again in the future.

However, on another side, behind the loss, there is an advantage which casino got from the gambler, yes, the casino got a profit. the casino is really like the richest gamblers who haven't emotional control. the casino will invite them to always play until their money runs out.

I must concede that at times my intense feelings guide me more than my expertise. I reminisce a particular occurrence when I was at a gambling establishment and luck was not on my side. I was so irate that I sauntered to the bar and ordered a Shirely Tempel. The bartender inquired, "Are you alrite, sir?" To which I sarcasticaly respondid, "Clearly not, I just forfited all of my funds." Unexpectedly, the bartendar fired back, "Well, at least you can pay for a Shirley Tempel, I cant even pay for the chery on top." We both chuckled uncontrollably, and it struck me that I was taking it tooo seriously. Sometimes, it's best to withdraw, have a chuckle, and return with a calm demeanor. The casino may ultimately triumph, but that's just the nature of the beast. Provided we gamble prudently and with a touch of mirth, we can still bask in the excitement without going overboard (or emptying our wallets).

[Fredomago]

every person has their own reasons why they do such kind of decision. some people have the luxury to lose multi-million dollar bet in one shot without much worry involved. whereas, most will just prefer to save that money for more important things. if you are in his position, i don't think you will think of charitable acts while you want to bet your much anticipated game. most gamblers don't think of being charitable while playing. let's accept such fact.

we can assume like you said but if we check the details of his goals he gambled millions of dollars considering the high odds for him to win thousands of dollars on a $1.4 million bet, so the gamble is ridiculous for unpredictable sports betting and he should be able to use those funds for gambling the gain is worth more than the big loss.

For sure just like what we are saying he also have that same sentiment that it's an unpredictable outcome even the chance to win is way far from losing the game, it's an impossible outcome if you know the game, it will be far from reality to come back from that certain deficit with the time that will be consume but it happened.

Gambling always have that risk and nothing can be changed, a million dollar bet to in aiming to earn thousand not really a fan of small odd
with a huge amount of risk.

[QueenVera]

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.

Losing is another thing all together and just as I said that no matter how much money one has, gambling away $1.4m isn't a chise play and you can agree with me that at some points, there might regrets from the gamblers side and I was going through some big casinos and also saw some similar huge losses on stake and I was amazed at the guts people have to gamble such huge amounts on just a single bet at a time.
I'm glad you also got the message that it's not wise for us to use all of our money to gamble no matter how promising a bet might be except you're willing to lose the money just incase a loss comes.
@serjent05, I don't think the money belongs to the player and even if it does, that doesn't warrant him to gamble it away in just one game on a very low odd.
Yes we didn't get the news directly from him but anyone who loses such amount of money should feel the impact before recovering.

[Silberman]

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.

Each gambler needs to decide on their own what they want to do, so I do not think we are complaining about the behavior of this gambler, what this exemplifies is that no matter how tempting and how likely a bet may look we must never bet everything we have or even a significant amount of our capital just because we think it is a sure thing, because as it has been demonstrated over and over again on the different disciplines and sports that we watch is that anything can and will happen.

[Quidat]

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.

Each gambler needs to decide on their own what they want to do, so I do not think we are complaining about the behavior of this gambler, what this exemplifies is that no matter how tempting and how likely a bet may look we must never bet everything we have or even a significant amount of our capital just because we think it is a sure thing, because as it has been demonstrated over and over again on the different disciplines and sports that we watch is that anything can and will happen.

Yes, its our money so its our risk to take.It is really just that there are people who do react that much on how people do make up their bets.Its true that when it comes to gambling then 0% chance of losing is impossible because it cant be called gambling in the first place if it was risk free.There are really just people who could really just afford millions on making up into their bet.It is really just that luck isnt on their side on the time that they had called out because it turns out to be a huge upset.We know that in sports which upsets could really happen and this is why we shouldnt really
that too confident about sure win because anything and anytime could turn tables.

[usekevin]

The money involved in the gambling site is not the free money,it will be the hard earned money.Most of the people not thinking about this,while making big risk in the life.And the possibility of winning and losing is equal.We may consider it as 50% chance on equal side.So taking full risk also allow to loss and end with 0%.On odd bet,it’s essential to keep the mind for the both results.If you had win,it surely gives you more excitement as compared to the losing time.

[Fivestar4everMVP]

The money involved in the gambling site is not the free money,it will be the hard earned money.Most of the people not thinking about this,while making big risk in the life.And the possibility of winning and losing is equal.We may consider it as 50% chance on equal side.So taking full risk also allow to loss and end with 0%.On odd bet,it’s essential to keep the mind for the both results.If you had win,it surely gives you more excitement as compared to the losing time.

It has never been true 50% on casino games, house edge should be counted while you keep clicking bet button. Possibilities of winning are less than losing so we have to be patient and make smart decisions to minimize house edge factor. This gambler made bad decision then busted big money on low odd, we can't blame anyone but gambler who made this bet.

if you do sports betting, as well as play casino games, chances are that, in the run, you have a higher chance of making more wins than losses in sports betting, but for casino games, you have a high chance of making more loses than wins.
Like i said on my comment in another thread, playing casino games is always very interesting, but it is always hard to beat the house, it doesnt matter how much you win at the initial stage, or maybe mid-way in your gambling life, the sure thing is that, as long as you keep playing those casino games, you end up losing all your winnings, including more, back to the casino.