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

[RILWAN]

We know how tough it is to lose money abd this gambler has lost quite a good sum of money which resulted in a bad experience for the ops, but the way things went was the gambler  lost 1 4 million dollars this is an indication of either being rich or addicted

[Lucasgabd]

The player was confirmed to have had a past history of gambling addiction and has wasted much more amount than the 1.4 million dollars in the last loss, but then I wondered why he is still having access to such huge funds when their knows he has a gambling problem, it shows the have not been proper rehabilitation for the ops.

No wonder and what you said here explains the main reason why he made the silly bet without risk management because only a gambling-addicted person would go that big on a game.

By the way
How do you know the gambler didn’t use risk management
I know it is unlikely (but not impossible!) that this person has many millions or even billions of dollars and this loss represent just a small % of their fortune

[len01]

lol , in everything that involved money , anything can happen but in sports betting it is something rare to happen that the favorite is going to lose and that is the reality of this, we can track that for many chances and long years , this is why the Odd is far different from the lower ranking.
and also the more safer in sportsbet than any form of gambling in which mostly about luck to make you win.

You're correct, I have experienced like this because I did compare when I gamble on dice with the odds is 1.10 and only bet on sport matches where the odds is 1.10, the chance I lose on dice is really high rather than my bet with a same odds in sportsbook. I never make any money on dice when bet with small odds, but in sports I can make little profit since I mostly won and only lose for 1-2 match.

yes, it is true that the favorite team loses very rarely, but let's take the example of the past soccer sports bet, Man United vs Liverpool. of course everyone will be proud of MU and bet at low odds on MU.
but the result is 0-7, isn't that a surprise?
whereas Man United is the favourite.


we cannot compare casino games with sports betting, whereas dice is a casino game whose results are very random and difficult to predict or research.
different from sports betting which can be predicted through analysis of all injured teams etc.

[BVeyron]

lol , in everything that involved money , anything can happen but in sports betting it is something rare to happen that the favorite is going to lose and that is the reality of this, we can track that for many chances and long years , this is why the Odd is far different from the lower ranking.
and also the more safer in sportsbet than any form of gambling in which mostly about luck to make you win.

You're correct, I have experienced like this because I did compare when I gamble on dice with the odds is 1.10 and only bet on sport matches where the odds is 1.10, the chance I lose on dice is really high rather than my bet with a same odds in sportsbook. I never make any money on dice when bet with small odds, but in sports I can make little profit since I mostly won and only lose for 1-2 match.

yes, it is true that the favorite team loses very rarely, but let's take the example of the past soccer sports bet, Man United vs Liverpool. of course everyone will be proud of MU and bet at low odds on MU.
but the result is 0-7, isn't that a surprise?
whereas Man United is the favourite.


we cannot compare casino games with sports betting, whereas dice is a casino game whose results are very random and difficult to predict or research.
different from sports betting which can be predicted through analysis of all injured teams etc.

Sports betting is more predictable than pure casino luck, but the problem is that highly predictable matches in sports are balanced by bet funds difference, that's why matches with a clear result are not a good way to win the house, so that it becomes a bit even boring to bet on such matches...

[Dunamisx]

We know how tough it is to lose money abd this gambler has lost quite a good sum of money which resulted in a bad experience for the ops, but the way things went was the gambler  lost 1 4 million dollars this is an indication of either being rich or addicted

Not only that, it could have resulted from stolen funds a well, which in this case can be clearly stated that the money has gone back to where it comes from, it may actually be a public fund, except if this gambler is that very rich to have afforded to use that huge amount of money on gambling at once, as for me i can't do that because it has alot of risk, not until you win in gambling you will always stand a chance of loosing, he would have learnt his lesson actually and probably this time in a harsh way, money used for gambling are irreversible.

[Odusko]

all bets always have a risk but indeed most sports bets are better than casinos, the difference is that sports rely on analysis and also luck, but playing a casino only relies on luck alone, that's why playing a casino is riskier than sports betting but again that every bet is always to have a risk

The thing is, even if the gambler is a millionaire or a billionaire to feel the bad effect of his decision to take such a high risk betting on 1.04 odds and losing it can be something sound unbelievable but then there is no guaranteed odds and those who believe on the sure bet are the most losers since football matches can be highly unpredictable.

[BobK71]

all bets always have a risk but indeed most sports bets are better than casinos, the difference is that sports rely on analysis and also luck, but playing a casino only relies on luck alone, that's why playing a casino is riskier than sports betting but again that every bet is always to have a risk

The thing is, even if the gambler is a millionaire or a billionaire to feel the bad effect of his decision to take such a high risk betting on 1.04 odds and losing it can be something sound unbelievable but then there is no guaranteed odds and those who believe on the sure bet are the most losers since football matches can be highly unpredictable.

There are some sports games where the unexpected doesn't happen normally. There are also some that are subject to change at any time. Last 2 minutes are also very important in football game. It is not unusual to score 2 goals in the space of 2 minutes. So nothing can be said in that type of betting until the result of the match is taken. It' doesn't matter how low the odds are, the risk must be addressed before placing a bet.

[traderethereum]

We know how tough it is to lose money abd this gambler has lost quite a good sum of money which resulted in a bad experience for the ops, but the way things went was the gambler  lost 1 4 million dollars this is an indication of either being rich or addicted

Not only that, it could have resulted from stolen funds a well, which in this case can be clearly stated that the money has gone back to where it comes from, it may actually be a public fund, except if this gambler is that very rich to have afforded to use that huge amount of money on gambling at once, as for me i can't do that because it has alot of risk, not until you win in gambling you will always stand a chance of loosing, he would have learnt his lesson actually and probably this time in a harsh way, money used for gambling are irreversible.

Everything is possible because we also don't know where he got his money from.
And with that money out of the way, let's hope he realizes what he's doing and if it's coming from a public fund, he shouldn't be using it for gambling.
But we shouldn't imitate what he did by gambling with big money because the risk of losing will also be great and there will be temptations that can make us increase our bets just to chase victory.
And it's not worth doing because, with that much money, we can use it for many things that might be more useful for us.

[Hirose UK]

We know how tough it is to lose money abd this gambler has lost quite a good sum of money which resulted in a bad experience for the ops, but the way things went was the gambler  lost 1 4 million dollars this is an indication of either being rich or addicted

Some gamblers will use all bad experiences for learning so that in the future they will not repeat the mistakes they have experienced, but there are some who consider bad experiences as a form of bad luck and ignore it so that it is likely that in the future they will experience it again sometime.
Addiction can occur and be experienced by anyone, not knowing rich gamblers or small gamblers, and gambling addiction can destroy anyone who experiences it.
It is important for gamblers to always think of other things that can improve their lives so they don't become gambling addicts.

[wiss19]

We know that gambling games could really be categorized in two different types.

1. Skill based
2. Luck based

You would be able to determine which thing you would really be needing specially when you are doing sportsbet.You would be needing that analysis and knowledge towards teams and a certain player
when it comes to stats and game history which is something that you couldnt really be able to get when you do play slots and dice games online. This is why it would really be falling or actually be depending on someones preference if we do speak about game selection.Some do focus on luck ones because it is more entertaining but there are ones who do prefer on something which they could really be
having the edge for them to win.

If you talk about games in gambling, there aren't really a lot of skill-based games in gambling, and most of them are based on luck, maybe you can use a bit of skill in poker but luck is still there since the cards are not decided based on skills but it is based on your luck. So it won't be wrong if we simply say that gambling games are mostly luck-based.

Although, one can argue that sports betting is more skills or experience based than luck. The reason for that is that you need to evaluate the past results, stats, outcomes, and the current situations, players, teams, venues, etc. and then decide based on all that. So even though the end result might differ based on luck, the chances of winning are higher if you have experience about a game you are betting on.

[GigaBit]

We know that gambling games could really be categorized in two different types.

1. Skill based
2. Luck based

You would be able to determine which thing you would really be needing specially when you are doing sportsbet.You would be needing that analysis and knowledge towards teams and a certain player
when it comes to stats and game history which is something that you couldnt really be able to get when you do play slots and dice games online. This is why it would really be falling or actually be depending on someones preference if we do speak about game selection.Some do focus on luck ones because it is more entertaining but there are ones who do prefer on something which they could really be
having the edge for them to win.

If you talk about games in gambling, there aren't really a lot of skill-based games in gambling, and most of them are based on luck, maybe you can use a bit of skill in poker but luck is still there since the cards are not decided based on skills but it is based on your luck. So it won't be wrong if we simply say that gambling games are mostly luck-based.

Although, one can argue that sports betting is more skills or experience based than luck. The reason for that is that you need to evaluate the past results, stats, outcomes, and the current situations, players, teams, venues, etc. and then decide based on all that. So even though the end result might differ based on luck, the chances of winning are higher if you have experience about a game you are betting on.

Gambling requires both luck and skill in some cases. But we know that winning in gambling is uncertain and therefore depends on luck. Since no one can ever predict what is going to happen in the future, it is all about luck. But you can't put skills aside. Because skill will help bring your destiny closer. In sports betting, if one does not have a good idea about the player, chance of winning is less and the gambler who has a good idea about each team and their performance will increase their chance of winning. Gambling with a combination of luck and skill can expect relatively positive results.

[Fatunad]

We know that gambling games could really be categorized in two different types.

1. Skill based
2. Luck based

You would be able to determine which thing you would really be needing specially when you are doing sportsbet.You would be needing that analysis and knowledge towards teams and a certain player
when it comes to stats and game history which is something that you couldnt really be able to get when you do play slots and dice games online. This is why it would really be falling or actually be depending on someones preference if we do speak about game selection.Some do focus on luck ones because it is more entertaining but there are ones who do prefer on something which they could really be
having the edge for them to win.

If you talk about games in gambling, there aren't really a lot of skill-based games in gambling, and most of them are based on luck, maybe you can use a bit of skill in poker but luck is still there since the cards are not decided based on skills but it is based on your luck. So it won't be wrong if we simply say that gambling games are mostly luck-based.

Although, one can argue that sports betting is more skills or experience based than luck. The reason for that is that you need to evaluate the past results, stats, outcomes, and the current situations, players, teams, venues, etc. and then decide based on all that. So even though the end result might differ based on luck, the chances of winning are higher if you have experience about a game you are betting on.

Gambling requires both luck and skill in some cases. But we know that winning in gambling is uncertain and therefore depends on luck. Since no one can ever predict what is going to happen in the future, it is all about luck. But you can't put skills aside. Because skill will help bring your destiny closer. In sports betting, if one does not have a good idea about the player, chance of winning is less and the gambler who has a good idea about each team and their performance will increase their chance of winning. Gambling with a combination of luck and skill can expect relatively positive results.

When it comes to gambling then we do know that luck is a huge and main factor if we do speak about gambling where it is really that mainly needed for us to win.We know that it isnt really that
much ideal if you do force up to win speaking with gambling which we know the odds of winning is really that slim.If we do speak about sports betting then just like been mentioned
no matter how low the odds of losing, theres always a chance of losing no matter what.If you do make out some big bets and going that all in then you do know
on what would happen if that one turns out to be a lost.

[Fredomago]

Although, one can argue that sports betting is more skills or experience based than luck. The reason for that is that you need to evaluate the past results, stats, outcomes, and the current situations, players, teams, venues, etc. and then decide based on all that. So even though the end result might differ based on luck, the chances of winning are higher if you have experience about a game you are betting on.

From those basis you can pick the team or players that you think have the upper hand not entirely relying with luck but you are collecting information to give your bet a better chance of winning. But still, there's no guarantee as changes might happen when you are watching the actual games, things like injuries and other a like factors that affect the possible outcome.

[Odusko]

We know how tough it is to lose money and this gambler has lost quite a good sum of money which resulted in a bad experience for the ops, but the way things went was the gambler  lost 1 4 million dollars this is an indication of either being rich or addicted

Some gamblers will use all bad experiences for learning so that in the future they will not repeat the mistakes they have experienced, but some consider bad experiences as a form of bad luck and ignore it so that it is likely that in the future they will experience it again sometime.
Addiction can occur and be experienced by anyone, not knowing rich gamblers or small gamblers, and gambling addiction can destroy anyone who experiences it.
It is important for gamblers to always think of other things that can improve their lives so they don't become gambling addicts.

Sincerely speaking, I don't see any lesson to be learned from all of this situation because the gambler failed in all ways, and since he failed to make an in-depth analysis of the game before following the odds to bet such a huge amount of bet it shows a high control of external forces such as addiction and other gambling disabilities.
So at that, I don't see any lesson to be learned from ops situations unless we learn not to act wired and out of control even though we have access to large funds.

[coinerer]

No one can ever guarantee winning in gambling so one should always bet according to one's ability.  Don't bet on greed or high amount with guarantee of any result.  If it is lost, there will be a big loss. As happened in op's story. I have also lost bets at small odds a few times.  So gambling should always be done with small amounts and should be used as fun so that losses do not cause major losses. So I mostly bet on sports because it is highly predictable

Betting on soccer or any other sport is always the same. There is always the possibility of losing. Like you, I have also experienced a slight loss in my time and learned my lesson. For this reason, I started to do risk management well. Yes, betting is a job of skill and experience, but it should not be forgotten that this is also a labor-intensive job. You analyze the matches, you even look at which players are injured and which ones are playing. Sometimes you even look at the weather, which way the wind is blowing. I have even taken bets thinking about these things. But now I play for pleasure and I don't play seriously as often as I used to. This shows that my losses are not so much.

all bets always have a risk but indeed most sports bets are better than casinos, the difference is that sports rely on analysis and also luck, but playing casino only relies on luck alone, that's why playing casino is more risky than sports betting but again that every bet is always have a risk

The thing that has more risk also has more profit.  A casino game takes a few seconds to a few minutes to complete so many bets can be made in a casino in less time but a match in sportsbet takes hours to finish and not always sports because it starts on a specific date and time.  But the casino can be played 24 hours a day. So for someone sports are very popular for betting and for many casino games are very popular. there is no guarantee that everyone will like the same thing

[RILWAN]

The player was confirmed to have had a past history of gambling addiction and has wasted much more amount than the 1.4 million dollars in the last loss, but then I wondered why he is still having access to such huge funds when their knows he has a gambling problem, it shows they have not been proper rehabilitation for the ops.

No wonder and what you said here explains the main reason why he made the silly bet without risk management only a gambling-addicted person would go that big on a game.

By the way
How do you know the gambler didn’t use risk management
I know it is unlikely (but not impossible!) that this person has many millions or even billions of dollars and this loss represent just a small % of their fortune

If there was risk management the gambler could have not to plugged such an amount on a low odds such as that considering the amount in total winning of the bet could have won, but unfortunately for him, he lost the bet and thereby lose all the money.

[Fivestar4everMVP]

The player was confirmed to have had a past history of gambling addiction and has wasted much more amount than the 1.4 million dollars in the last loss, but then I wondered why he is still having access to such huge funds when their knows he has a gambling problem, it shows they have not been proper rehabilitation for the ops.

No wonder and what you said here explains the main reason why he made the silly bet without risk management only a gambling-addicted person would go that big on a game.

By the way
How do you know the gambler didn’t use risk management
I know it is unlikely (but not impossible!) that this person has many millions or even billions of dollars and this loss represent just a small % of their fortune

If there was risk management the gambler could have not to plugged such an amount on a low odds such as that considering the amount in total winning of the bet could have won, but unfortunately for him, he lost the bet and thereby lose all the money.

Until we hear from the horses mouth, we can ascertain or conclude that there was no risk management, for all I know, risk management is different for every body, there is no concrete laid out standard we all must follow in terms of managing risk, most especially, when it comes to finance, amount of money one can let go in a wager..

This is most especially because, we all are not rich equally, you might not have alot of money, and because of this, loosing a very small amount of money might be a big problem for you, but then, there is this guy who has a lot of money, and could loose a million dollar in a bet and won't feel or see it as a problem - this is how risk management differs for each and every one of us.

[Myleschetty]

The player was confirmed to have had a past history of gambling addiction and has wasted much more amount than the 1.4 million dollars in the last loss, but then I wondered why he is still having access to such huge funds when their knows he has a gambling problem, it shows the have not been proper rehabilitation for the ops.

No wonder and what you said here explains the main reason why he made the silly bet without risk management because only a gambling-addicted person would go that big on a game.

By the way
How do you know the gambler didn’t use risk management
I know it is unlikely (but not impossible!) that this person has many millions or even billions of dollars and this loss represent just a small % of their fortune

Even if the person is a Millionaire or Billionaire he still didn't apply risk management when he makes the bet and no matter how wealthy he was losing 1.4 million USD in just a few minutes is never a good decision. If you read what the above user said he was gambling addicted.

[Fivestar4everMVP]

The player was confirmed to have had a past history of gambling addiction and has wasted much more amount than the 1.4 million dollars in the last loss, but then I wondered why he is still having access to such huge funds when their knows he has a gambling problem, it shows the have not been proper rehabilitation for the ops.

No wonder and what you said here explains the main reason why he made the silly bet without risk management because only a gambling-addicted person would go that big on a game.

By the way
How do you know the gambler didn’t use risk management
I know it is unlikely (but not impossible!) that this person has many millions or even billions of dollars and this loss represent just a small % of their fortune

Even if the person is a Millionaire or Billionaire he still didn't apply risk management when he makes the bet and no matter how wealthy he was losing 1.4 million USD in just a few minutes is never a good decision. If you read what the above user said he was gambling addicted.

Well, I have never come across someone who decide to just lose money, most especially in gambling/betting, it is absolutely certain that the man in this story didn't just wake up and decide to lose $1.4 million dollars, if you study this bet closely, like I've said before, you would discover that the victim here assumed this to be a sure bet for him, this is why he decide to bet in such a huge amount of money, in hopes of making as much profit as possible.

This type of situation is something that have happened to several gamblers out there, or will/can happen to anyone, something like this have happened to me last year during Qatar 2022 world cup, when Argentina and Saudi Arabia meet, majority of gambler believed Saudi to be the weaker team and assumed there was no way they can beat Argentina, I went all in on Argentina but to my greatest surprise, Argentina lost to Saudi, and I lost my money - I believe this is exactly the same thing that happened to this gambler.

[Wiwo]

By the way
How do you know the gambler didn’t use risk management
I know it is unlikely (but not impossible!) that this person has many millions or even billions of dollars and this loss represent just a small % of their fortune

I will advise you never to take the member's comment seriously as he failed to share any extra information or site to support his claims about the condition of the gamblers who lost that amount on a bet.

-As far as I can guess,  the gambler may have weight all the possible risks and decided to take it but funny enough he was not that lucky to have lost such a sure bet.