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

[AicecreaME]

Look, I aint no expert on sports bettin, but I know enough to tel ya that it's a risky busness, especially when you're betting on the little guys or long shots. Don't get me wrong, it's cool to dream big and all, but you gotta remember to keep it real and only bet what you can afford to lose. And let's not forget about the thrill of the game, it's easy to get carried away and forget about the risks involved. I mean, can you even imagine losing $1.4 milion?! That's some serious dough! So, my advice to you is to stay balanced and not let your emotions get in the way of makin smart decisions. It's always better to be prepared and not take unnecessary risks, amirite?

Everything has its own risk. Even the decision we make in our daily lives has its risks. We might benefit from it and we might not. It might bring something good or make a situation worse. A single decision can make a huge impact, so it's better to always evaluate our decisions before putting them into actions. Gambling is one of those many things that possess a great risk. If you don't want to lose, then better to not try gambling. One must know the pros and cons of gambling. One day, you might win; the next day, you might lose it all. If you are not prepared and brave enough to experience series of failures and downfalls, then do not in any way engage in betting or playing gambling games for your own sake.

The moment you start gambling, you should be prepared of the consequences. You must only bet what you can afford to lose, otherwise, you'll regret big time later on. It's wise to set up a budget allocation before gambling to not overspend. Additionally, one must not be confident so much to the point you'll bet an amount you can't really afford to let go in a snap. There's no guaranteed win despite having a reliable team or player to bet on. Hence, betting in moderation and responsibly should be done. Avoid the hype and thrill as much as possible because you might not notice everything you've won might be gone at once.

[Odusko]

Look, I aint no expert on sports bettin, but I know enough to tel ya that it's a risky busness, especially when you're betting on the little guys or long shots. Don't get me wrong, it's cool to dream big and all, but you gotta remember to keep it real and only bet what you can afford to lose. And let's not forget about the thrill of the game, it's easy to get carried away and forget about the risks involved. I mean, can you even imagine losing $1.4 milion?! That's some serious dough! So, my advice to you is to stay balanced and not let your emotions get in the way of makin smart decisions. It's always better to be prepared and not take unnecessary risks, amirite?

Preparation is very important in risk taking because there are numbers of factors that need to be considered when taking the risk, those factors are very essential to our overall well being when the outcome of the risk arrive in fact there is no need to risk anything if you are not sure what the outcome may be and if you are prepared enough to face the outcome.
The thing about risk is that it can be beneficial and at the same time very drastic if not properly calculated and in football betting we must be smart enough to make every step based on calculation and factual analysis.

[STT]

Everything has its own risk. Even the decision we make in our daily lives has its risks.

Biggest risks people can take wrongly perhaps are the most familiar.  Such as the old car trip to the airport paradox where people are fine with the risk of possibly colliding with a ton of metal travelling down the road opposite & a foot away at 60mph but think the airplane as an event is more to be feared; in fact the risk probability is the other way round greatly.

[Desmong]

Gambling is all about risk so if we know how to take good risk that will yield a good output then whatsoever the strategy we used will worth it. Losing to the house is a painful experience especially when you have all your hope on the game or bet before losing it. The most painful part is when we are having a consistent loses over the time of our betting.

[Wiwo]

Gambling is all about risk so if we know how to take good risk that will yield a good output then whatsoever the strategy we used will worth it. Losing to the house is a painful experience especially when you have all your hope on the game or bet before losing it. The most painful part is when we are having a consistent losses over the time of our betting.

I experienced a loss last weekend after I won a good amount from sports betting and I try to wager more, it was then I ran out of luck and all the teams I picked for a straight wing lost all their matches.

-gambling is a combination of risk and luck,  once a gambler has the high appetite to take a risk and he has luck on his side,  the outcome could be massive, but sometimes gamblers also lose huge money and that happens regularly and we have to get used to that experience.

[Fortify]

https://nypost.com/2023/01/15/gambler-loses-massive-1-4-million-bet-on-chargers-jaguars-game/

One bettor wasted a massive $1.4 million wager after betting on Los Angeles before the Jaguars mounted an epic comeback to beat the Chargers 31-30, according to Action Network’s Darren Rovell.

It seems that a gambler has loss this massive amount (1.4 million USD) playing a bet with an odds lower than 1.01! (exactly 1.008)

I think there are several lessons here:
- there is not easy bet! even lower odds there is always a risk.
- it's really risky playing an huge amount. This not helps gambler because the risk is much much higher then rewards!
- gambling is not easy at all! it's really hard achieve a profit even for easy games!

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

There is a certain group of people out there, an absolutely tiny group, that would consider this to be "fun money" and not think twice about losing it - even if they were only going to gain a little return. If this gambler was part of that group then you don't need to feel bad that they lost, they were trying to play with the casino and probably would have earned more from certain VIP rewards programs than the potential outcome of the bet. Then there are people who have more money than sense, but not enough of it to sustain them in the long run - maybe they inherited it or didn't have to put the work in before spending it, that's a more likely crowd who probably felt great regret after losing this life changing sum.

[Newlifebtc]

Gambling is all about risk so if we know how to take good risk that will yield a good output then whatsoever the strategy we used will worth it. Losing to the house is a painful experience especially when you have all your hope on the game or bet before losing it. The most painful part is when we are having a consistent loses over the time of our betting.

It is recently when people understands that gambling is all about riskand the risks of gambling is something that is not measurable so you can use all what you have in gambling and it turns out positive for you it is your luck I know when it is turns negative for you it is also your love that is why in gambling nobody advise anyone to use each project money for gambling because ea.com fair that he may lose your moneys 

[delfastTions]

Gambling is all about risk so if we know how to take good risk that will yield a good output then whatsoever the strategy we used will worth it. Losing to the house is a painful experience especially when you have all your hope on the game or bet before losing it. The most painful part is when we are having a consistent loses over the time of our betting.

It is recently when people understands that gambling is all about riskand the risks of gambling is something that is not measurable so you can use all what you have in gambling and it turns out positive for you it is your luck I know when it is turns negative for you it is also your love that is why in gambling nobody advise anyone to use each project money for gambling because ea.com fair that he may lose your moneys 

However, if we talk about what you are talking about, then of course it is worth drawing a boundary line between the losses of money for a loss that are acceptable for each specific player, and, accordingly, completely unacceptable. 
Obviously, unacceptable loss of money leads to serious problems in the lives of such people.  Here in the topic, they are discussing the loss on a completely gigantic scale for most people.  With that kind of money, most people in the world could live without working all their lives.  Yes, and receive interest from bank deposits on which you can live even without losing the main capital.  Obviously, for a player who lost $1.4M, such an amount is acceptable if he has tens or hundreds of millions of dollars. 
Only then can we consider that such a big loss is somehow we can understand and not even condemn such a dashing player too much.

[mak013]

Any chance that this was just a fat finger mistake?

The comments on the importance of the total amount related to total wealth are on point
For a billionaire 1 million is just 1% of total wealth and an amount they can totally afford to lose in a bad bet

I don`t think so. This is a normal strategy when you have lots of money. You get a small profit, but with such a bet and such an odd - it may be called "guaranteed income". You can get $10.000-$50.000 from each bet and there are lots of such bets every week. But there is a chance to lose all. Like the OP told us. The main question how much he got before this bet.

I actually agree with @Lucasgabd because after all, gambling is the same as when we invest or trade, namely using money where when it is lost, we really have to be able to accept it.
Rich people can gamble big because they know they are betting only a small percentage of their wealth.
If you conclude that betting is a guaranteed income because you can get $ 10,000-$ 50,000 in each bet, then that is an opinion that is not quite right. Because betting is not that easy, we can win and make a profit.
What's more, if the bet we use is large enough, the dealer will make it more difficult for us to be able to get that win.

Of course no one can guarantee you 100% winning, but i know several men that made bets and poker their main income. Of course they lose sometimes(like in this situation) but they have their strategy, money management and one lose is closed with the profit from the other bets. With big bets it works the same like with the others, the only difference is difficulties with finding right casino.

[TopTort777]

Obviously, for a player who lost $1.4M, such an amount is acceptable if he has tens or hundreds of millions of dollars. 

We dont know what kind of gambler he was. We dont know nothing about the person who has made that bet. I would not rush saying that it was "acceptable" for him to lose this bet. Imagine, just imagine, he is a gambling addicted, and he was just a delivery guy. Just a guy who had to deliver a bag from place A to place B. Accidentally he has found out that he is carrying a bag with money. So he decides to place 1.4 million with 1.008 odd. What could possibly go wrong? He could easily get 11k in no time. And his bet loses. Sounds like a movie script from 90s, sort of a comedy when a guy looses mafia money. But that can be a IRL situation

[Fredomago]

Look, I aint no expert on sports bettin, but I know enough to tel ya that it's a risky busness, especially when you're betting on the little guys or long shots. Don't get me wrong, it's cool to dream big and all, but you gotta remember to keep it real and only bet what you can afford to lose. And let's not forget about the thrill of the game, it's easy to get carried away and forget about the risks involved. I mean, can you even imagine losing $1.4 milion?! That's some serious dough! So, my advice to you is to stay balanced and not let your emotions get in the way of makin smart decisions. It's always better to be prepared and not take unnecessary risks, amirite?

Preparation is very important in risk taking because there are numbers of factors that need to be considered when taking the risk, those factors are very essential to our overall well being when the outcome of the risk arrive in fact there is no need to risk anything if you are not sure what the outcome may be and if you are prepared enough to face the outcome.
The thing about risk is that it can be beneficial and at the same time very drastic if not properly calculated and in football betting we must be smart enough to make every step based on calculation and factual analysis.

If you are capable to handle the risk there no problem at all, if you are a type of gambler where you can just move forward whatever the outcome might be, but in a serious note $1.4M is something that not many can really take for a single bet, even the chances of winning is high that's still huge amount that you are placing where upset can still happen.

Gambling environment always accompany of risk whatever the percentage of winning if luck is not at your side, losing is for real.

[Ryker1]

^[snip]
Gambling environment always accompany of risk whatever the percentage of winning if luck is not at your side, losing is for real.

That is right --gambling, by its very nature, involves taking a risk in the hope of achieving a reward. While some forms of gambling may have better odds than others, there is always a chance that you will lose in the long run if you don't know how to take a break. No matter how skilled you are at a particular game or how much research you have done, luck plays a significant role in the outcome.
It is important to remember that gambling should always be viewed as entertainment rather than a way to make money. You should never gamble more than you can afford to lose, and it's crucial to set limits and stick to them. It is also a good idea to take breaks and step away from the gambling environment if you find yourself getting too caught up in the excitement --the key to enjoying gambling while minimizing your risk is to approach it with a level head and a realistic understanding of the odds.
In the story of OP seems the gambler losses 1.4 million and does not have self-control.

[xSkylarx]

Obviously, for a player who lost $1.4M, such an amount is acceptable if he has tens or hundreds of millions of dollars. 

We dont know what kind of gambler he was. We dont know nothing about the person who has made that bet. I would not rush saying that it was "acceptable" for him to lose this bet. Imagine, just imagine, he is a gambling addicted, and he was just a delivery guy. Just a guy who had to deliver a bag from place A to place B. Accidentally he has found out that he is carrying a bag with money. So he decides to place 1.4 million with 1.008 odd. What could possibly go wrong? He could easily get 11k in no time. And his bet loses. Sounds like a movie script from 90s, sort of a comedy when a guy looses mafia money. But that can be a IRL situation

Or it is possible that it is a retirement savings that he tries to increase as he thought that it was a sure win but turns out not to be. There are many possibilities, but owning that much money makes it really possible that he is a rich guy, and for sure he is crying over it. No matter how rich you are, you can still get hurt by losses. He learned a hard lesson from it. It is almost the same for me, but not the same amount. I thought for sure that I would win, but in the end, I've lost my money.

[temple]

^[snip]
Gambling environment always accompany of risk whatever the percentage of winning if luck is not at your side, losing is for real.

That is right --gambling, by its very nature, involves taking a risk in the hope of achieving a reward. While some forms of gambling may have better odds than others, there is always a chance that you will lose in the long run if you don't know how to take a break. No matter how skilled you are at a particular game or how much research you have done, luck plays a significant role in the outcome.
It is important to remember that gambling should always be viewed as entertainment rather than a way to make money. You should never gamble more than you can afford to lose, and it's crucial to set limits and stick to them. It is also a good idea to take breaks and step away from the gambling environment if you find yourself getting too caught up in the excitement --the key to enjoying gambling while minimizing your risk is to approach it with a level head and a realistic understanding of the odds.
In the story of OP seems the gambler losses 1.4 million and does not have self-control.

Some forms of gambling are also more prone to making a player make lose money faster. First of all, whenever you have bad bank roll management it almost doesn't matter kind of game you prefer to gamble, but I like MTT poker with a fixed buy in and perhaps a rebuy. Sure you could go and switch to cash game anytime and waste your bankroll, but if you stick to your own rules and play MTT poker with good bank roll management that is a good way to keep some control and also to lose less when you freak out emotionally. Once your stack is gone, it is gone. With cash games you could reload all the time, which again makes it essentially as dangerous as a slot game except for the fact that you have a bit more control over the outcome when you try to play a good game.

[stomachgrowls]

Look, I aint no expert on sports bettin, but I know enough to tel ya that it's a risky busness, especially when you're betting on the little guys or long shots. Don't get me wrong, it's cool to dream big and all, but you gotta remember to keep it real and only bet what you can afford to lose. And let's not forget about the thrill of the game, it's easy to get carried away and forget about the risks involved. I mean, can you even imagine losing $1.4 milion?! That's some serious dough! So, my advice to you is to stay balanced and not let your emotions get in the way of makin smart decisions. It's always better to be prepared and not take unnecessary risks, amirite?

Preparation is very important in risk taking because there are numbers of factors that need to be considered when taking the risk, those factors are very essential to our overall well being when the outcome of the risk arrive in fact there is no need to risk anything if you are not sure what the outcome may be and if you are prepared enough to face the outcome.
The thing about risk is that it can be beneficial and at the same time very drastic if not properly calculated and in football betting we must be smart enough to make every step based on calculation and factual analysis.

If you are capable to handle the risk there no problem at all, if you are a type of gambler where you can just move forward whatever the outcome might be, but in a serious note $1.4M is something that not many can really take for a single bet, even the chances of winning is high that's still huge amount that you are placing where upset can still happen.

Gambling environment always accompany of risk whatever the percentage of winning if luck is not at your side, losing is for real.

It is really that impossible for someone whose not been aware on what he's been doing on the time that he/she make out some bets.If he could bet millions of dollars then expect that it isnt really only the money he

do have but still have lots.If you are an addicted person then for sure you would really be that impulsive when it comes into your bets which is something that you would really be doing this kind of betting behavior.

1.01 doesnt assure 100% winning of a certain game.Upset could really happen along the way which would really be fucking up your all in bet.

[temple]

Look, I aint no expert on sports bettin, but I know enough to tel ya that it's a risky busness, especially when you're betting on the little guys or long shots. Don't get me wrong, it's cool to dream big and all, but you gotta remember to keep it real and only bet what you can afford to lose. And let's not forget about the thrill of the game, it's easy to get carried away and forget about the risks involved. I mean, can you even imagine losing $1.4 milion?! That's some serious dough! So, my advice to you is to stay balanced and not let your emotions get in the way of makin smart decisions. It's always better to be prepared and not take unnecessary risks, amirite?

Everything has its own risk. Even the decision we make in our daily lives has its risks. We might benefit from it and we might not. It might bring something good or make a situation worse. A single decision can make a huge impact, so it's better to always evaluate our decisions before putting them into actions. Gambling is one of those many things that possess a great risk. If you don't want to lose, then better to not try gambling. One must know the pros and cons of gambling. One day, you might win; the next day, you might lose it all. If you are not prepared and brave enough to experience series of failures and downfalls, then do not in any way engage in betting or playing gambling games for your own sake.

The moment you start gambling, you should be prepared of the consequences. You must only bet what you can afford to lose, otherwise, you'll regret big time later on. It's wise to set up a budget allocation before gambling to not overspend. Additionally, one must not be confident so much to the point you'll bet an amount you can't really afford to let go in a snap. There's no guaranteed win despite having a reliable team or player to bet on. Hence, betting in moderation and responsibly should be done. Avoid the hype and thrill as much as possible because you might not notice everything you've won might be gone at once.

The thrilling activity of gambling. It's like your financial situation is a game of Russian roulette; one minute it's great, and the next it's terrible. But then, isn't life about taking chances? As for the occasional gamble, I don't see any problem with that, either.
But before you jump headfirst into the gambling industry, it's important to know what you're getting into. Keep your rationality under check and not your feelings and impulses. Please take a moment to consider your next move. Limit yourself to your allotted budget, no matter how tempting the deal may seem. Never forget that the house always wins, not because of any deceit on their part, but simply because the chances are against you.

But who am I to dictate your choices anyway? In other words, your money is yours to spend anyway you like. If you've lost everything and your life is falling apart, don't come crying to me for help.

I think what might especially trigger some people is when they actually do decide to stick to their allotted budget, stop playing after a series of losses and then see that the next round would have made them whole again if they decided to bet. I can speak from experience here as I know that situation too well. On a bad day you lose bet after bet and then when you control yourself emotionally and decide against playing the next round, bam you would have had a nice win. But this is what a lot of those forms of gambling are about. They are not designed the way to make you always lose. They just make you lose more than you win. Whenever you decide to stop, it is not unlikely that you would win the next round, it is just more likely that you lose the next round as well. That is something you have to keep in mind for yourself.

[Fredomago]

Look, I aint no expert on sports bettin, but I know enough to tel ya that it's a risky busness, especially when you're betting on the little guys or long shots. Don't get me wrong, it's cool to dream big and all, but you gotta remember to keep it real and only bet what you can afford to lose. And let's not forget about the thrill of the game, it's easy to get carried away and forget about the risks involved. I mean, can you even imagine losing $1.4 milion?! That's some serious dough! So, my advice to you is to stay balanced and not let your emotions get in the way of makin smart decisions. It's always better to be prepared and not take unnecessary risks, amirite?

Preparation is very important in risk taking because there are numbers of factors that need to be considered when taking the risk, those factors are very essential to our overall well being when the outcome of the risk arrive in fact there is no need to risk anything if you are not sure what the outcome may be and if you are prepared enough to face the outcome.
The thing about risk is that it can be beneficial and at the same time very drastic if not properly calculated and in football betting we must be smart enough to make every step based on calculation and factual analysis.

If you are capable to handle the risk there no problem at all, if you are a type of gambler where you can just move forward whatever the outcome might be, but in a serious note $1.4M is something that not many can really take for a single bet, even the chances of winning is high that's still huge amount that you are placing where upset can still happen.

Gambling environment always accompany of risk whatever the percentage of winning if luck is not at your side, losing is for real.

It is really that impossible for someone whose not been aware on what he's been doing on the time that he/she make out some bets.If he could bet millions of dollars then expect that it isnt really only the money he

do have but still have lots.If you are an addicted person then for sure you would really be that impulsive when it comes into your bets which is something that you would really be doing this kind of betting behavior.

1.01 doesnt assure 100% winning of a certain game.Upset could really happen along the way which would really be fucking up your all in bet.

It's annoying, but you can't change the outcome. Once luck didn't come your way, expect to lose your money whatever kind of strategy you use and whether you fully understand the game and how you anticipate the win. There's nothing you can do but to forget about it and either you stop or you continue trying your luck.

With the way someone loses that huge amount of money, we can assume that he really knows that big risk and he's willing to take it.

Sad to say, he loses his bet, and that amount is really something that noticeable.

[Wiwo]

Gambling is all about risk so if we know how to take good risk that will yield a good output then whatsoever the strategy we used will worth it. Losing to the house is a painful experience especially when you have all your hope on the game or bet before losing it. The most painful part is when we are having a consistent losses over the time of our betting.

Is best never to have hopes on any bet most especially when you are not involved in the games, take football betting for example, the matches are highly unpredictable and with a high level of risk which sometimes outweighs the gains of winnings.

-For sure we know gambling is all about risk but we can as well take calculated risks and putting up 1.4 million on a game is too much of a risk to take unless the gambler is a whale gambler.

[rahmad2nd]

~snip~

~snip~

However, if we talk about what you are talking about, then of course it is worth drawing a boundary line between the losses of money for a loss that are acceptable for each specific player, and, accordingly, completely unacceptable. 
Obviously, unacceptable loss of money leads to serious problems in the lives of such people.  Here in the topic, they are discussing the loss on a completely gigantic scale for most people.  With that kind of money, most people in the world could live without working all their lives.  Yes, and receive interest from bank deposits on which you can live even without losing the main capital.  Obviously, for a player who lost $1.4M, such an amount is acceptable if he has tens or hundreds of millions of dollars. 
Only then can we consider that such a big loss is somehow we can understand and not even condemn such a dashing player too much.

We realize, that the money at stake is not a small amount of money. and like you said, with that kind of money, most people in the world can go without work all their lives. earn interest on bank deposits, without even losing the main capital. for us, what that player did, was something crazy. because, we will not do what the player is betting on. the reason is quite simple, because we don't have that kind of money. or maybe, we will not risk all of our assets with a bet that is not commensurate with the capital at stake. moreover, if we refer to the available low odds.

But one thing we don't consider, that we don't know players who risk their money with very fantastic nominal. for sure, it would be very unreasonable if the man did not know the risks, especially if the stakes did not meet expectations. I suspect, that this person is well aware of what he is betting on. and most likely, he has a lot of money. thus, he is willing to bet very low odds and risk $1.4 million on the match. also, considering the probability of victory that he has is very high. unfortunately, it looks like he's having bad luck. in the end he lost a lot of money.

[Hamphser]

~snip~

~snip~

However, if we talk about what you are talking about, then of course it is worth drawing a boundary line between the losses of money for a loss that are acceptable for each specific player, and, accordingly, completely unacceptable. 
Obviously, unacceptable loss of money leads to serious problems in the lives of such people.  Here in the topic, they are discussing the loss on a completely gigantic scale for most people.  With that kind of money, most people in the world could live without working all their lives.  Yes, and receive interest from bank deposits on which you can live even without losing the main capital.  Obviously, for a player who lost $1.4M, such an amount is acceptable if he has tens or hundreds of millions of dollars. 
Only then can we consider that such a big loss is somehow we can understand and not even condemn such a dashing player too much.

We realize, that the money at stake is not a small amount of money. and like you said, with that kind of money, most people in the world can go without work all their lives. earn interest on bank deposits, without even losing the main capital. for us, what that player did, was something crazy. because, we will not do what the player is betting on. the reason is quite simple, because we don't have that kind of money. or maybe, we will not risk all of our assets with a bet that is not commensurate with the capital at stake. moreover, if we refer to the available low odds.

But one thing we don't consider, that we don't know players who risk their money with very fantastic nominal. for sure, it would be very unreasonable if the man did not know the risks, especially if the stakes did not meet expectations. I suspect, that this person is well aware of what he is betting on. and most likely, he has a lot of money. thus, he is willing to bet very low odds and risk $1.4 million on the match. also, considering the probability of victory that he has is very high. unfortunately, it looks like he's having bad luck. in the end he lost a lot of money.

Its never been small for most of us but we know that there are people who could really that afford on spending up that huge money on gambling or make out some bets and this is why we would really that get
shocked if ever we do see numbers like this which had been bet out and ending up on losing.Yes, it is really that regretful thing for us who do able to read it up, how much more into that person who
had made out such bet? This is why we should really put up into your minds that when it comes to gambling then no matter how slim the chance of losing but still it could really happen in a snap.
Just like been said by others that we do know that there's always an upset that could happen which means we could really lose up anytime.