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

[slapper]

Rich people can afford to gamble millions yet they're still well-off even after losing such amount. But for an average gambler it's a huge money already that can change our lives for good. Just like you, if I have 1.4 million, I can already live comfortably for a lifetime since money is not a problem anymore.

However for these whales, it's just part of their leisure money to entertain themselves. It's hard to believe but that's the reality.

Having 1.4 million for most people living in developing countries or other countries can guarantee our life will be comfortable. But if we use that money for things that are not important, we will not be able to get it. So if we have that much money, it's better for us to use it for the things needed in our life and not for gambling.

And even though people who gamble are rich, they should not use big money to gamble even though they are still rich. But we also can't forbid them to use big money to gamble because it is their money and it seems they understand the consequences of using big money to gamble. We have to learn from that person's defeat so that it doesn't happen to us in the future, especially when we start to have a lot of money.

Surely, 1.4 million bucks could offer a cozy existence; still, it's all about the way we spend it! Money isn't just some object – it mirrors our core beliefs. When we amass riches, we're on the hook for how we splurge. I reckon gambling is a bad move, even for the loaded. People gotta understand that gambling ain't an investment – it's a thrill ride that can nosedive real fast.

I propose we switch gears from hoarding dough to generating value. When we concentrate on value creation, we forge a life purpose, and that might lead to big bucks. We oughta also pay attention to our shopping sprees and dodge materialism. Instead, let's drop our cash on experiences that boost our growth and bond us to others. To wrap it up, money ain't the dream – it's just the ticket to a life that matters.

[Ryu_Ar1]

We won't be having this discussion right now if this person won the bet, I don't feel sorry for him because he was ready to lose the money, every one percent chance of winning a gamble doesn't clarify the winning, also it's hard to believe that this person is someone who is been greedy, he is rich because the money he lost is enough to change the life of many, he won't dare throw that away to gambling if he has no other big money like what he lost.

In fact, those who bet such large amounts are usually not a average gamblers. They certainly have a big earning source. That may be one of his smaller bets that has been revealed. Moreover, if that person had won that particular bet, it would not have been revealed. He knew very well that there could be a loss in gambling but the chance was very low at that particular bet probably that man takes the bet according to this thought. After all he was a experienced gambler and as a gambler perhaps he had no regrets.

Agree with this, because of course as gamblers we also definitely understand what loss is and good financial management so that when talking about big bets, there are definitely a number of things to consider and it could be the result of previous profits or indeed the money that he has set aside for fun even though it is a large nominal but when he is able to earn more than that then indeed it will not mean anything.
I take the example of the drake in this regard, because indeed he also always makes big and quite astonishing gambles, but with the income he earns that kind of money is nothing to him even though for us it could even sustain the life of several generations.

[Fivestar4everMVP]

We won't be having this discussion right now if this person won the bet, I don't feel sorry for him because he was ready to lose the money, every one percent chance of winning a gamble doesn't clarify the winning, also it's hard to believe that this person is someone who is been greedy, he is rich because the money he lost is enough to change the life of many, he won't dare throw that away to gambling if he has no other big money like what he lost.

In fact, those who bet such large amounts are usually not a average gamblers. They certainly have a big earning source. That may be one of his smaller bets that has been revealed. Moreover, if that person had won that particular bet, it would not have been revealed. He knew very well that there could be a loss in gambling but the chance was very low at that particular bet probably that man takes the bet according to this thought. After all he was a experienced gambler and as a gambler perhaps he had no regrets.

Agree with this, because of course as gamblers we also definitely understand what loss is and good financial management so that when talking about big bets, there are definitely a number of things to consider and it could be the result of previous profits or indeed the money that he has set aside for fun even though it is a large nominal but when he is able to earn more than that then indeed it will not mean anything.
I take the example of the drake in this regard, because indeed he also always makes big and quite astonishing gambles, but with the income he earns that kind of money is nothing to him even though for us it could even sustain the life of several generations.

And sometimes, I really do agree that life, truly is unfair, look at the amount of money individuals gamble away, meanwhile, in several parts of the world, there are many people that can not afford 2 square meal per day not to talk of three which is the approved standard.

Not me saying people shouldn't spend their hard earned money in a way or things that makes them happy, but then, I just can't take my mind off the less privileged people, when ever I see money being wasted.

[RILWAN]

This is, not the first time someone is losing a big amount t to gambling, I have heard the history of others who sold their houses and cars and all gambled them away, this is a normal case of gambling addiction and we should get used to seeing such big lose from time to time.

[Bushdark]

This is, not the first time someone is losing a big amount t to gambling, I have heard the history of others who sold their houses and cars and all gambled them away, this is a normal case of gambling addiction and we should get used to seeing such big lose from time to time.

This could be as a result of gambling addiction that might have eaten up some gamblers mindset in believing that they are supposed to do everything in there best to make sure that they win a bet without considering the risks that could be attached to that kind of gambling. We need to be wise so that we are not going to fall in such a big trouble of losing that kind money that could make us go to jail if it was not our money. The risk is gambling unnecessarily may not be visible to us until we are in it and see the result ourselves.

[michellee]

Rich people can afford to gamble millions yet they're still well-off even after losing such amount. But for an average gambler it's a huge money already that can change our lives for good. Just like you, if I have 1.4 million, I can already live comfortably for a lifetime since money is not a problem anymore.

However for these whales, it's just part of their leisure money to entertain themselves. It's hard to believe but that's the reality.

Having 1.4 million for most people living in developing countries or other countries can guarantee our life will be comfortable. But if we use that money for things that are not important, we will not be able to get it. So if we have that much money, it's better for us to use it for the things needed in our life and not for gambling.

And even though people who gamble are rich, they should not use big money to gamble even though they are still rich. But we also can't forbid them to use big money to gamble because it is their money and it seems they understand the consequences of using big money to gamble. We have to learn from that person's defeat so that it doesn't happen to us in the future, especially when we start to have a lot of money.

Surely, 1.4 million bucks could offer a cozy existence; still, it's all about the way we spend it! Money isn't just some object – it mirrors our core beliefs. When we amass riches, we're on the hook for how we splurge. I reckon gambling is a bad move, even for the loaded. People gotta understand that gambling ain't an investment – it's a thrill ride that can nosedive real fast.

I propose we switch gears from hoarding dough to generating value. When we concentrate on value creation, we forge a life purpose, and that might lead to big bucks. We oughta also pay attention to our shopping sprees and dodge materialism. Instead, let's drop our cash on experiences that boost our growth and bond us to others. To wrap it up, money ain't the dream – it's just the ticket to a life that matters.

It's true what you say. By accumulating wealth, we can be tempted to spend on what we want instead of continuing to save to achieve our goals. Maybe they want to use gambling as an investment and maybe some casinos offer to keep a certain number of satoshis on their premises as an investment that will continue to increase in value.

Instead of using money or assets for something useless for now, it's better for us to keep it, especially if it's bitcoin because we know it can increase very high in the future. And keeping more bitcoins can provide big profits later.

[Strongkored]

And sometimes, I really do agree that life, truly is unfair, look at the amount of money individuals gamble away, meanwhile, in several parts of the world, there are many people that can not afford 2 square meal per day not to talk of three which is the approved standard.

Not me saying people shouldn't spend their hard earned money in a way or things that makes them happy, but then, I just can't take my mind off the less privileged people, when ever I see money being wasted.

We can never really see the balance in this world and it has been going on for hundreds or even thousands of years and we cannot complain about what is happening because that is the way this world works, because there are people who live with many conveniences to continue to make money and many more who even find it difficult just to survive.
Many people think that if they have a lot of money they will use their money more to help others, but in reality, when it comes to helping or spending it for pleasure, then the pleasure they will choose unless our pleasure is helping others. The gambler who spends big money is finding his pleasure in gambling activities, I'm sure the money he has and the big losses he has experienced betting at very small odds will not stop him from coming back to find pleasure by continuing to gamble again and again even if it would jeopardize his finances.

[BobK71]

This is, not the first time someone is losing a big amount t to gambling, I have heard the history of others who sold their houses and cars and all gambled them away, this is a normal case of gambling addiction and we should get used to seeing such big lose from time to time.

This could be as a result of gambling addiction that might have eaten up some gamblers mindset in believing that they are supposed to do everything in there best to make sure that they win a bet without considering the risks that could be attached to that kind of gambling. We need to be wise so that we are not going to fall in such a big trouble of losing that kind money that could make us go to jail if it was not our money. The risk is gambling unnecessarily may not be visible to us until we are in it and see the result ourselves.

But here one thing may be different. If you think about it, the person who bet 1.4 million USD is not an ordinary gambler. Moreover, a new gambler will never want to take such a big risk. In that case I would say that he took the right decision but there his luck failed him. Those who can bet such a large amount must have a lot of money with which to recover the money lost through gambling again later. Since the person is unknown, the matter remains a mystery. But I don't agree to call this bet happen for an addiction.

[kingvirtus09]

The amount he risked gambling is ridiculous, honestly I can't do what he did. With 1.4M$ bett I can live a simple life to be honest.
I already have a nice house and lot, a nice car and businesses and lands that can be turned into farms. To him it's like nothing and he is not affected if he loses. It seems that he really knows what risk he is taking.

[piebeyb]

The amount he risked gambling is ridiculous, honestly I can't do what he did. With 1.4M$ bett I can live a simple life to be honest.
I already have a nice house and lot, a nice car and businesses and lands that can be turned into farms. To him it's like nothing and he is not affected if he loses. It seems that he really knows what risk he is taking.

he bet that amount of money means he can afford to lose it, so there shouldn't be a problem for him because of course he knows about the risks in gambling even though his 99% bet wins but it would be surprising that his expectations don't match reality, after all it could have been that person before got a big win compared to that loss and unfortunately it wasn't exposed, so always take the lesson from here that gambling with bets must be within a budget that we can afford to lose it.

[Wiwo]

The amount he risked gambling is ridiculous, honestly, I can't do what he did. With 1.4M$ bett I can live a simple life, to be honest.
I already have a nice house and lot, a nice car and businesses and lands that can be turned into farms. To him, it's like nothing and he is not affected if he loses. It seems that he really knows what risk he is taking.

Really this was a ridiculous amount to gamble away in one bet, let's say that amount is won in a lottery the winner will be published in national dailies.

-But since this is a loss and it sounds weird to hear such a huge amount being spent on gambling, the fact that his action may have been influenced by some factors that are out of the gambler's control.

-For the ops to have gambled such an amount shows I high gambling addiction.

[TheGreatPython]

Although I won't deny the possibility that this news was originally shared in order to exploit psychological flaws and encourage people to think about gambling and, therefore, gamble more, I don't think that it is just a fabrication. It is improbable, but possible, that this kind of big wins and losses happen from time to time, specially taking into account that a few millionaires like to gamble ridiculously high amounts of money for the shake of fun.

Here is an example that changed my mind and may help you change yours too: I used to consider that reality shows were totally orchestrated, scripted, until I realised that, if I was the manager of the television producer, it would be much easier for me to find people who already were the way I wanted, rather than hire actors to perform the way I wanted.

That said, it is much easier to find a unique case of a 1.4 million loss in order to create a discussion on gambling, rather than "fabricate" it to encourage discussion.

You are probably right that it is very easy to find people losing that big amounts these days, especially millionaire celebrities, etc. I remember reading a news recently where the pop star and official partner of Stake.com had lost a bet amounting more than $250k on a boxing match, and I read that he had lost many such bets, some even higher than $400k.

So it is probably true that millionaires that can afford to lose such amounts wouldn't bother or think twice before placing such bets, they also win at times but only the lost bets are surpassed and the general public would barely see the wins.

[ethereumhunter]

The amount he risked gambling is ridiculous, honestly I can't do what he did. With 1.4M$ bett I can live a simple life to be honest.
I already have a nice house and lot, a nice car and businesses and lands that can be turned into farms. To him it's like nothing and he is not affected if he loses. It seems that he really knows what risk he is taking.

Those of us who are just little gamblers really can't do what he's doing because it involves a lot of money. And we can live simply and honestly with that much money and maybe we can also have a new business and develop it to improve it.

And we can only dream of having that kind of money. But playing gambling with small money is also okay, especially if we don't chase any wins. So we can play without any strange thoughts that can make us enjoy the gambling game more.

[Ryu_Ar1]

Agree with this, because of course as gamblers we also definitely understand what loss is and good financial management so that when talking about big bets, there are definitely a number of things to consider and it could be the result of previous profits or indeed the money that he has set aside for fun even though it is a large nominal but when he is able to earn more than that then indeed it will not mean anything.
I take the example of the drake in this regard, because indeed he also always makes big and quite astonishing gambles, but with the income he earns that kind of money is nothing to him even though for us it could even sustain the life of several generations.

And sometimes, I really do agree that life, truly is unfair, look at the amount of money individuals gamble away, meanwhile, in several parts of the world, there are many people that can not afford 2 square meal per day not to talk of three which is the approved standard.

Not me saying people shouldn't spend their hard earned money in a way or things that makes them happy, but then, I just can't take my mind off the less privileged people, when ever I see money being wasted.

In this case I think the context is very different even though what you said is true by not wasting what we have with our money and having to look at people who are even less fortunate out there who have a much more difficult life. But on the other hand when those who really gamble with big money also cannot be blamed because it is also their right.
I think when conditions like this all have empathy, obviously there must be but we also cannot change attitudes and characteristics because indeed in things like this people are free to do anything with what they have as for people out there who are not able to even eat them confused we can also help them if we can do that but we also cannot change the conditions because inequality like this will not be changed at any time.

[Haunebu]

There will never be a gambler who can have a win rate of up to 99% if there is just luck and you can't get it every time.
Gamblers always have a level of losses not wins because in gambling winnings can only be owned by the dealer, not a gambler.

What the heck are you talking about? It is possible to gamble with a 99% win rate in games like dice, blackjack, baccarat etc where the house edge is 1% or lower. You clearly misunderstood what I stated.

To him it's like nothing and he is not affected if he loses. It seems that he really knows what risk he is taking.

How are you so sure that he wasn't affected by the loss? That may or may not be the case.

[Mate2237]

The amount he risked gambling is ridiculous, honestly I can't do what he did. With 1.4M$ bett I can live a simple life to be honest.
I already have a nice house and lot, a nice car and businesses and lands that can be turned into farms. To him it's like nothing and he is not affected if he loses. It seems that he really knows what risk he is taking.

Those of us who are just little gamblers really can't do what he's doing because it involves a lot of money. And we can live simply and honestly with that much money and maybe we can also have a new business and develop it to improve it.

And we can only dream of having that kind of money. But playing gambling with small money is also okay, especially if we don't chase any wins. So we can play without any strange thoughts that can make us enjoy the gambling game more.

That is why there is always a different between a rich person and lower class. The amount for him is just a chicken change for him but for lower class citizens, that amount is too big that they can't just lost it in a gamble. There is a man in my locality that spend $3m every day. Even we that in the lower class gamblers can lose $20 and move free but for some people that $20 is a big money for them.
He has already gotten enough money so for using that big amount to gamble, he knows how it is and what it is. So we are just disturbing ourselves for nothing. Someone that has enough money can spend it the way he wants.

[Silberman]

Those of us who are just little gamblers really can't do what he's doing because it involves a lot of money. And we can live simply and honestly with that much money and maybe we can also have a new business and develop it to improve it.

And we can only dream of having that kind of money. But playing gambling with small money is also okay, especially if we don't chase any wins. So we can play without any strange thoughts that can make us enjoy the gambling game more.

That is why there is always a different between a rich person and lower class. The amount for him is just a chicken change for him but for lower class citizens, that amount is too big that they can't just lost it in a gamble. There is a man in my locality that spend $3m every day. Even we that in the lower class gamblers can lose $20 and move free but for some people that $20 is a big money for them.
He has already gotten enough money so for using that big amount to gamble, he knows how it is and what it is. So we are just disturbing ourselves for nothing. Someone that has enough money can spend it the way he wants.

While anyone can do whatever they want with their money at the same time I doubt this was just spare change for this gambler, think about it, even if that person had 14 million on the bank losing 1.4 million is the equivalent of losing 10% of his capital in under an hour, if an investor or a trader was losing that amount of money they will be in complete panic, so the only way someone could consider that amount spare change is if they had more than 100 million dollars, and the amount of people that have that money are very limited around the world.

[RILWAN]

The ops in question will be in a regrettable mode right now because, with such loss he must be watched closely to avoid committing suicide, this is because he must be in big debt right now or even if he is an extremely rich man he will have lost a good amount out of his wealth already sorry for the ops.

[erep]

While anyone can do whatever they want with their money at the same time I doubt this was just spare change for this gambler, think about it, even if that person had 14 million on the bank losing 1.4 million is the equivalent of losing 10% of his capital in under an hour, if an investor or a trader was losing that amount of money they will be in complete panic, so the only way someone could consider that amount spare change is if they had more than 100 million dollars, and the amount of people that have that money are very limited around the world.

Although some speculate he is a billionaire but of course he will be disappointed from the result of the bet, no one will be willing to accept that gambling loss because he has predicted high odds of winning but his prediction is wrong and he has to lose the highest betting balance, so we can draw conclusions from this case that don't bet high because slot betting and sports betting no one can predict accurately.

[Porfirii]

-snip-

You are probably right that it is very easy to find people losing that big amounts these days, especially millionaire celebrities, etc. I remember reading a news recently where the pop star and official partner of Stake.com had lost a bet amounting more than $250k on a boxing match, and I read that he had lost many such bets, some even higher than $400k.

So it is probably true that millionaires that can afford to lose such amounts wouldn't bother or think twice before placing such bets, they also win at times but only the lost bets are surpassed and the general public would barely see the wins.

Yes, that's it. Although it is still possible what the other member I quoted in my last post was right (an orchestrated or fabricated news) it is not such a surprising thing to be sure about being fake.

In fact, compared to the bet of 250k you mentioned, a 1.01 odds bet seems more safer (maybe not to bet 1.4 millions, but who knows what people like these have in mind).