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

[Silberman]

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.

I think there are always lessons which can be learned, especially when so much money was lost, the gambler in question made such a bet because they thought it was a sure thing and it was impossible for the team on the lead to lose, however we must never forget that if the results on a sport match were already decided we will not be as interested on sports as we are, we sometimes forget that anything can happen and even an underdog can still win even on the most adverse of conditions, and when we are making our bets we must never forget about this fact, or something similar could happen to us one day.

[Jossque]

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

It is indeed that all gambling has a lot of risks, though I never try to play on Sportsbet instead I almost often play at casino slot games.
And each round of the games always depends if we are lucky or not.

Which means that winning here most likely depends on luck but not on skills, isn't that right? This was what I experienced most of the time here in crypto gambling.

In games such as casino, slots, crash, your risk of losing is higher than in sports betting, it all depends on what kind of luck you have and your game strategy. It is important to remember that the winnings are higher and the risk is higher in such games. You need to develop a certain strategy here, and this strategy is different in every game. In sports betting, you don't need to make such a strategy, you need more analysis and experience. That's why I prefer sports betting, at least you don't lose your money in an instant.

[Raflesia]

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

What you say in this case is true, but for matters of luck in the casino, there are also those who prioritize strategy, in fact, just an example for Blackjack.
On the other hand, why sportsbooks are better is because in this case we know that sportsbooks are more concerned with research and looking at the performance of the odds at stake, even though some accidents do happen, but mostly if we can research further, like in a football match where the performance of both is clear be a benchmark so that this can be used as a reference.
Talking about real risks, all actions have risks, but when we become gamblers, of course we have to be aware of this so we know what will happen if we lose the game.

[Mahanton]

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

What you say in this case is true, but for matters of luck in the casino, there are also those who prioritize strategy, in fact, just an example for Blackjack.
On the other hand, why sportsbooks are better is because in this case we know that sportsbooks are more concerned with research and looking at the performance of the odds at stake, even though some accidents do happen, but mostly if we can research further, like in a football match where the performance of both is clear be a benchmark so that this can be used as a reference.
Talking about real risks, all actions have risks, but when we become gamblers, of course we have to be aware of this so we know what will happen if we lose the game.

Luck would be always the main factor whether you do win or lose a game and if a certain moment on which luck isnt on your side, then you would definitely lose up a game no matter what how one sided it would be.
We know that upsets and comebacks could really happen in sports world on which there's no way that we could really tell a 100% sure winning game.This is why on the time you do make out huge
bets then it would really be ideal that you should only bet on the amount which you can afford to lose and never ever tend to go into those border lines on where
you do make out some all in.

[khaled0111]

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

It's obvious that he didn't. The most important thing in risk management is to know how to manage your bankroll. Can you imagine how much money you need to have to be able to place a bet of 1.4 million dollars on 1.01 odds without affecting your bankroll. You will need billions of dollars so you can recover such loss (supposing you are too lucky).
Regardless of the cause (gambling addiction, being reckless..), that gambler took a huge risk and he lost, that's it.

[klidex]

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.

Yes, that's true because some people here sometimes misunderstand some threads so they comment with their own arguments, so let's just understand their replies.

Of course, every gambler has thought of all the risks they will take. It's just that gamblers sometimes have goals that don't match their own plans.
For example, the gambler bets a sports bet of $ 1 even though it is a very big risk, but the gambler is sure with his thoughts that he will definitely win in that match, but in the end it is not what he thinks and in the end he loses.
So in this case all gamblers will definitely consider all the risks, but it's just that sometimes luck will decide.

[babygun]

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

It's obvious that he didn't. The most important thing in risk management is to know how to manage your bankroll. Can you imagine how much money you need to have to be able to place a bet of 1.4 million dollars on 1.01 odds without affecting your bankroll. You will need billions of dollars so you can recover such loss (supposing you are too lucky).
Regardless of the cause (gambling addiction, being reckless..), that gambler took a huge risk and he lost, that's it.

I can agree with what you say, but maybe he is a billionaire and then losing 1.4 million is peanuts for him. Money management is indeed crucial but far from easy also. It just also shows that there are no real sure bets and that it is never a good idea to bet on such low odds.

[Yamifoud]

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

It's obvious that he didn't. The most important thing in risk management is to know how to manage your bankroll. Can you imagine how much money you need to have to be able to place a bet of 1.4 million dollars on 1.01 odds without affecting your bankroll. You will need billions of dollars so you can recover such loss (supposing you are too lucky).
Regardless of the cause (gambling addiction, being reckless..), that gambler took a huge risk and he lost, that's it.

I can agree with what you say, but maybe he is a billionaire and then losing 1.4 million is peanuts for him. Money management is indeed crucial but far from easy also. It just also shows that there are no real sure bets and that it is never a good idea to bet on such low odds.

Let's not speculate too much and focus on the amount of the loss and the odds we bet on. As typical gamblers, we thought that those odds would give us a nearly 100% chance of winning, but unfortunately, that didn't happen with this bet. It's really disappointing, especially considering the large amount of money involved.

For billionaires, this amount may not be an issue, but for most gamblers, it's a significant loss. Some even hope that gambling will change their lives if they hit the jackpot.

[Wiwo]

I can agree with what you say, but maybe he is a billionaire and then losing 1.4 million is peanuts for him. Money management is indeed crucial but far from easy also. It just also shows that there are no real sure bets and that it is never a good idea to bet on such low odds.

Mate no matter what the state of the gambler's financial condition being a billionaire will not make him feel less about a loss such as this, because from the details provided, the gambler has so much confidence in the odds selection and decide to risk staking huge amount having 100% winning expectations.

-It is an entirely bad feeling for anyone in such a condition, because aside from losing the money he may also lose his confidence in odds selection in the long run, $1.4 millions lose is not a joke for anyone.

[Raflesia]

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

What you say in this case is true, but for matters of luck in the casino, there are also those who prioritize strategy, in fact, just an example for Blackjack.
On the other hand, why sportsbooks are better is because in this case we know that sportsbooks are more concerned with research and looking at the performance of the odds at stake, even though some accidents do happen, but mostly if we can research further, like in a football match where the performance of both is clear be a benchmark so that this can be used as a reference.
Talking about real risks, all actions have risks, but when we become gamblers, of course we have to be aware of this so we know what will happen if we lose the game.

Luck would be always the main factor whether you do win or lose a game and if a certain moment on which luck isnt on your side, then you would definitely lose up a game no matter what how one sided it would be.
We know that upsets and comebacks could really happen in sports world on which there's no way that we could really tell a 100% sure winning game.This is why on the time you do make out huge
bets then it would really be ideal that you should only bet on the amount which you can afford to lose and never ever tend to go into those border lines on where
you do make out some all in.

As I said before, even though the conditions for sportsbooks can still be done with research, it doesn't mean that this will be an absolute 100 percent win and there is nothing like that in gambling.
On the other hand what you said about gambling with money that we can afford to spend is true, on the other hand this can also be an excuse for gamblers who say OP is spending a lot of money there, it means he can do that and it can be said that even though this is big but he is ready to lose in same time.

[RILWAN]

Losing 1.4 million is already a death trap for some people like us but to the gambler, since he is rich, he may not feel the impact of this loss so much, but next time my advice to him is to stay away from anything that looks like sure odds best does not exist.

[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.

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...

although sports betting is more predictable with 90% accuracy but 10% there is still a chance to lose.
I mean yes, sports betting can be more predictable with definite results, but surprises in sports betting also often occur and maybe you have also seen someone who lost a bet because their favorite team was given a surprise by their opponent like several cases at that time.
well, from this I conclude that all types of bets have bad days or unlucky days.

[Fivestar4everMVP]

Losing 1.4 million is already a death trap for some people like us but to the gambler, since he is rich, he may not feel the impact of this loss so much, but next time my advice to him is to stay away from anything that looks like sure odds best does not exist.

Speak for your self alone when you say that 1.4 million dollar is already a death trap for some people, it is in my honest believe that there are still alot of silent millionaires and even Billionaires on this forum, they might not be into gambling, but then, if they lose this type of money in other type of business they do, they still could easily move on.

And again, how do you even know that the person who gambled away this amount is even rich? How are you  sure he's even doing fine at the moment?

The advice is to those reading this, to never make such a mistake, except you have so so much money, to the extent that losing 1.4 million dollars in a bet is like losing $1.4 dollars.

[TopTort777]

How do you get that 10/90 probability in sports betting? Imho it is 50/50, win or lose. With this topic we have found out that even 1.01 isnt a safe bet, and I managed to lose 1.05-1.15 bets also.

From my experience, the more or less stable betting is in games when top teams play. There, bets less than 1.2 can be considered more or less stable to win. But, in games like women football league C, when it is 5min left to play and score is 0-3, a winning team can easily lose

[Fredomago]

although sports betting is more predictable with 90% accuracy but 10% there is still a chance to lose.
I mean yes, sports betting can be more predictable with definite results, but surprises in sports betting also often occur and maybe you have also seen someone who lost a bet because their favorite team was given a surprise by their opponent like several cases at that time.
well, from this I conclude that all types of bets have bad days or unlucky days.

Giving value to that statement, yes even you trust your prediction with 90% value shit can still happen and it's not new to this business, heavy favorites are not a guarantee to win a game, just the same with how the story here, and with the percentage of winning is high before the bet was being taken, it's a surprise since the deficits is really something you as gambler won't think can still be covered and snatch from the team you place your bet.

But the in the end, gambler still lose his money, for small to average types of gamblers, can be considered as a huge amount of money.

[maydna]

Losing 1.4 million is already a death trap for some people like us but to the gambler, since he is rich, he may not feel the impact of this loss so much, but next time my advice to him is to stay away from anything that looks like sure odds best does not exist.

Not for the rich people who gamble a lot and he seems to be rich because we don't know who he is. Wealthy people suffer less from gambling losses because they still have more money in their accounts. But for the average person who doesn't have much money, it will be very painful to see them lose their money at the gambling table. We can only advise people who want to gamble with big money not to do it because it's not worth it. It's better to gamble by making clear boundaries so that we don't lose a lot of money or if we are afraid of losing money, it's better not to gamble at all. It will be safer for us.

[dezoel]

Let's not speculate too much and focus on the amount of the loss and the odds we bet on. As typical gamblers, we thought that those odds would give us a nearly 100% chance of winning, but unfortunately, that didn't happen with this bet. It's really disappointing, especially considering the large amount of money involved.

For billionaires, this amount may not be an issue, but for most gamblers, it's a significant loss. Some even hope that gambling will change their lives if they hit the jackpot.

Thinking that the odds like 1.01 give you a 100% chance of winning is wrong in the first place because there is a small percentage difference and we all know that casinos and all their games have the house edge factor, so it should always be in one's mind that they can lose literally any bet, no matter the winning odds, and that's why it's better to set the base bet carefully.

I think it's not a small amount even for a billionaire. No one becomes a billionaire or ultra-rich overnight, so they definitely know the value of money, it doesn't matter how much they have or they spend, losing $1m in a single bet is still a lot.

[capedbaldy]

Thinking that the odds like 1.01 give you a 100% chance of winning is wrong in the first place because there is a small percentage difference and we all know that casinos and all their games have the house edge factor, so it should always be in one's mind that they can lose literally any bet, no matter the winning odds, and that's why it's better to set the base bet carefully.

I think it's not a small amount even for a billionaire. No one becomes a billionaire or ultra-rich overnight, so they definitely know the value of money, it doesn't matter how much they have or they spend, losing $1m in a single bet is still a lot.

Any chance of winning that has been analyzed in sports betting must consider the risk and the gambler must determine the betting limit, I don't care whether he is a billionaire or not but his betting strategy is not exemplary in gambling, he must suffer from the loss and do not accept the final decision of the losing bet , so don't ever bet all the funds you have but share some funds for small bets in some of your favorite gambling games.

[Wiwo]

Thinking that the odds like 1.01 give you a 100% chance of winning is wrong in the first place because there is a small percentage difference and we all know that casinos and all their games have the house edge factor, so it should always be in one's mind that they can lose literally any bet, no matter the winning odds, and that's why it's better to set the base bet carefully.

I think it's not a small amount even for a billionaire. No one becomes a billionaire or ultra-rich overnight, so they definitely know the value of money, it doesn't matter how much they have or they spend, losing $1m in a single bet is still a lot.

Any chance of winning that has been analyzed in sports betting must consider the risk and the gambler must determine the betting limit, I don't care whether he is a billionaire or not but his betting strategy is not exemplary in gambling, he must suffer from the loss and do not accept the final decision of the losing bet , so don't ever bet all the funds you have but share some funds for small bets in some of your favourite gambling games.

Exactly lack of a betting limit is what has affected a lot of gamblers today because they have been on the verge of risk without proper analysis of the odds, how can somebody gamble away such a huge amount without double chances the bets?

-If he had divided the 1.4 million into two parts and bet the half against the first bet since the bet odd will be big, that way you double chance the bet.

[rahmad2nd]

although sports betting is more predictable with 90% accuracy but 10% there is still a chance to lose.
I mean yes, sports betting can be more predictable with definite results, but surprises in sports betting also often occur and maybe you have also seen someone who lost a bet because their favorite team was given a surprise by their opponent like several cases at that time.
well, from this I conclude that all types of bets have bad days or unlucky days.

One thing you need to know. In betting, there are no predictions that are close to 90% accurate and certain or 100% correct. each result, will be determined when the two teams compete. one mistake made by a player, can be fatal for the team as a whole. I just want to give you a little insight, a team that is tough, strong, superior, will not always win every game after game. up and down is a natural thing. one more thing, in sports betting, we are not only talking about data and statistics, therefore, there are no exact calculations in a prediction. each result, will be determined when the match starts or has ended. so in essence, in gambling or betting there will always be a risk. also, luck.

I have often said before, regarding the OP's story, that the essence of what the OP is conveying is the message he is saying. that in gambling, there is always a risk. as for the case of the gambler who lost $1.4 million, we have discussed it time and time again. so, there is no other word that I can say anymore, that the "gambler" experienced bad luck from the bet he made.