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

[BobK71]

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.

Here the gambler bet so much money that he thought he could win about 99 percent of the possibility. His bet may have been right but luck did not favor him. Many people can now raise the question, should he bet so much money? I think the person who bet so much must have previous experience or else. It takes financial strength and courage to bet such a huge amount. Naturally he took a risk but taking this risk is not possible for ordinary gamblers.

[Helena Yu]

Here the gambler bet so much money that he thought he could win about 99 percent of the possibility. His bet may have been right but luck did not favor him. Many people can now raise the question, should he bet so much money? I think the person who bet so much must have previous experience or else. It takes financial strength and courage to bet such a huge amount. Naturally he took a risk but taking this risk is not possible for ordinary gamblers.

He must be haven't experienced lost when he bet on 1.01 odds, that's why he keep to gamble like that. But since he already lost, I'm sure he will learn from this lesson, but maybe he will become an addict and want to recover his 1.4 Millons USD. It's why we should gamble what we can afford to lose, if we only looking to make profit with all of money we have and think we will not lose, it's really a wrong mindset.

[tusandii]

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.

Maybe the method you convey is quite good, friend, because it can provide bigger opportunities and if the first bet loses, the gambler can take a chance on the second bet to get profits and at least return losses on the initial bet.
But unfortunately not all gamblers can have this kind of thinking. They cannot use a betting method or strategy if there is already a big profit opportunity to win even though there is a risk that must be accepted.
Whether gamblers like that want to take risks because they have a lot of money or indeed because we are chasing big profits, we don't know, but betting strategies are very important and must be able to be applied by all gamblers so they don't lose large amounts of money.

[Fredomago]

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.

Maybe the method you convey is quite good, friend, because it can provide bigger opportunities and if the first bet loses, the gambler can take a chance on the second bet to get profits and at least return losses on the initial bet.
But unfortunately not all gamblers can have this kind of thinking. They cannot use a betting method or strategy if there is already a big profit opportunity to win even though there is a risk that must be accepted.
Whether gamblers like that want to take risks because they have a lot of money or indeed because we are chasing big profits, we don't know, but betting strategies are very important and must be able to be applied by all gamblers so they don't lose large amounts of money.

Speaking of betting strategy, I'm in the position where it might be the way how this gambler works, trying to sort all the available games and pick what he thinks have a higher chance of winning, trying to scalp the gambling market and aim for quick profits, unfortunately, the outcome is not in his favor.

In gambling, there's always a risk even you think you plan your game and you pick what you think will generate profits
but if luck turn against you, the outcome always goes the other-side.

[len01]

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.

regarding your statement, to be honest, I already understand that the way sports betting works still depends on luck and there are no definite results.
but I say it like you quoted it, because someone said that the favorite team rarely loses. means he's talking about a sure win on his favorite team.
even though the best team can sometimes still lose when competing when one team has a mistake that makes the team itself lose.

yep that's right, there is always a risk in every gambling and all types of bets and all those risks I call between lucky and unlucky.

[Mauser]

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.

Maybe the method you convey is quite good, friend, because it can provide bigger opportunities and if the first bet loses, the gambler can take a chance on the second bet to get profits and at least return losses on the initial bet.
But unfortunately not all gamblers can have this kind of thinking. They cannot use a betting method or strategy if there is already a big profit opportunity to win even though there is a risk that must be accepted.
Whether gamblers like that want to take risks because they have a lot of money or indeed because we are chasing big profits, we don't know, but betting strategies are very important and must be able to be applied by all gamblers so they don't lose large amounts of money.

It's true that not every gambler uses combi bets to enhance their odds, or at least spread out his bets to reduce overall risk. To most of us here on the forum it seems crazy to spend such kind of money on one single bet. I am also not a fan of combi bets, because I tend to pick too many risky bets, it's usually one leg that ruins everything for me. Still I would always prefer to have multiple smaller independent bets than to put all my money into one. One of my best friends is the best example for the exact opposite, he only bets on his home team and always for them to win. For almost 5 years he has the same bet each week and only adjusts the amount he bets based on their winning chance. Placing only one bet limits us too much and has bigger risks to something go wrong.

[Get-Paid.com]

yep that's right, there is always a risk in every gambling and all types of bets and all those risks I call between lucky and unlucky.

If a bet is "safe" then it's not really a bet but more of an investment.
Gambling is less about investment and more about randomness.

[nakamura12]

yep that's right, there is always a risk in every gambling and all types of bets and all those risks I call between lucky and unlucky.

If a bet is "safe" then it's not really a bet but more of an investment.
Gambling is less about investment and more about randomness.

That's a different gambling since it is safe as they have claimed. If it is a gambling that is not safe then that's more likely on casinos or sportsbooks. I am sure you guys know different types of gambling such as playing games and investment. It is what gambling is for, it's either you are willing to take risk or not. I have something to say about safe bet which is not really safe at all since investment could also result in profit loss if what you invested is not successful (like stock price - price decrease).

[Hirose UK]

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.

We all know that gambling has all the risks, not only gambling but living life also has risks and everyone who decides to start gambling must accept all the risks that exist even if it is the risk of having to lose money.
When someone does not want to take risks and is afraid of losing money, it is better to stay away from gambling and never think about gambling.
In fact, gambling is only for those who are mentally steel and dare to take risks when betting.

[Beparanf]

That's a different gambling since it is safe as they have claimed. If it is a gambling that is not safe then that's more likely on casinos or sportsbooks. I am sure you guys know different types of gambling such as playing games and investment. It is what gambling is for, it's either you are willing to take risk or not. I have something to say about safe bet which is not really safe at all since investment could also result in profit loss if what you invested is not successful (like stock price - price decrease).

Exactly! Many user here always mix investment with gambling. I want to only emphasize that even investment doesn’t guarantee safety or no risk at all. Any form of  tools that intended to earn always have a cons that can possibly lose the money even with investment or gambling because they are just same that contain risk.

There’s no technical safe bet. You can only categorize bet as safe base on your own personal perspective towards the amount but using the real definition of the word safe. All bets is risky as the word imply on the bet.

[fullhdpixel]

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.

You are right that one should determine their betting limit and evaluate the odds and everything, but those high rollers don't really care much about that. A couple of days ago, I saw a high roller in Stake playing a game with a base bet of over $14,000. It might not be a very big amount for some but for the general public, it's a lot of money.

So it basically depends on one's mindset and bankrolls too if what they consider to be an amount they can afford to lose. Maybe a base bet of $100 isn't a lot for me, but somewhere out there, it can be an amount one can use for a whole month.

[Wiwo]

Not every gambler indeed uses combi bets to enhance their odds, or at least spread out his bets to reduce overall risk. To most of us here on the forum it seems crazy to spend such kind of money on one single bet. I am also not a fan of combi bets, because I tend to pick too many risky bets, it's usually one leg that ruins everything for me. Still, I would always prefer to have multiple smaller independent bets than to put all my money into one. One of my best friends is the best example of the exact opposite, he only bets on his home team and always for them to win. For almost 5 years he has had the same bet each week and only adjusts the amount he bets based on their winning chance. Placing only one bet limits us too much and has bigger risks of something going wrong.

That is the experience of most of us here, being overly emotional while selecting our bets makes us choose the wrong choice and most times multiple bets always lead to losing because one single game can destroy the rest of the ticket.

-But then luck still has its place in all of this, since even if you select only one game there is still a chance you will lose if the luck is not there.

[Silberman]

You are right that one should determine their betting limit and evaluate the odds and everything, but those high rollers don't really care much about that. A couple of days ago, I saw a high roller in Stake playing a game with a base bet of over $14,000. It might not be a very big amount for some but for the general public, it's a lot of money.

So it basically depends on one's mindset and bankrolls too if what they consider to be an amount they can afford to lose. Maybe a base bet of $100 isn't a lot for me, but somewhere out there, it can be an amount one can use for a whole month.

It is true that each person has their own standards about how much money is too much to gamble away, but we must admit too that there are some people out there with standards that are incredibly high, since 14k is an amount that is very high all around the world and many people on the first world will flinch if they were to see someone gambling so much money away right in front of them, as they know very well how much time it would take them to make that kind money.

[serjent05]

Not every gambler indeed uses combi bets to enhance their odds, or at least spread out his bets to reduce overall risk. To most of us here on the forum it seems crazy to spend such kind of money on one single bet. I am also not a fan of combi bets, because I tend to pick too many risky bets, it's usually one leg that ruins everything for me. Still, I would always prefer to have multiple smaller independent bets than to put all my money into one. One of my best friends is the best example of the exact opposite, he only bets on his home team and always for them to win. For almost 5 years he has had the same bet each week and only adjusts the amount he bets based on their winning chance. Placing only one bet limits us too much and has bigger risks of something going wrong.

That is the experience of most of us here, being overly emotional while selecting our bets makes us choose the wrong choice and most times multiple bets always lead to losing because one single game can destroy the rest of the ticket.

If we are too emotional in betting then it is better to ask AI to decide which team will win.  At least AI can perform a data analysis that can make sense while if we bet emotionally, we might be betting blindly.

-But then luck still has its place in all of this, since even if you select only one game there is still a chance you will lose if the luck is not there.

I highly agree, this is the variable that can change the course of the game.  Just like when a player is 100% sure to hit a goal since he is very open and the goal is undefended but somehow missed it because the ball goes the other way around upon kicking it, that is what we called variables that can change the course of the play and often refer as the kind of luck.

[Wiwo]

If we are too emotional in betting then it is better to ask AI to decide which team will win.  At least AI can perform a data analysis that can make sense while if we bet emotionally, we might be betting blindly.

AI can perform analysis on the team performances but what is the likelihood that AI will make the right analyses that could aid our luck in the bet, I have not really been a fan of AI but then its popularity is growing and some gamblers are already suggesting it into gambling.

-The reality is that we may conduct whatever analyses we want but some time we fail in our analysis and other time we may make accurate analyses regardless whetherof  we use our instinct or AI.

[rahmad2nd]

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.

We all know that gambling has all the risks, not only gambling but living life also has risks and everyone who decides to start gambling must accept all the risks that exist even if it is the risk of having to lose money.
When someone does not want to take risks and is afraid of losing money, it is better to stay away from gambling and never think about gambling.
In fact, gambling is only for those who are mentally steel and dare to take risks when betting.

We can actually make gambling something fun entertainment. Yes, instant entertainment in the middle of a busy routine after work. We can make gambling entertainment for relaxation, just to spend the remaining free time. but don't forget, that gambling is very risky. therefore, we must limit each gambling session. yes, back to our intention. that gambling is just for fun. So, don't use it as land to earn extra income. the point is, not to chase high wins.

IMO, gambling doesn't have to be for those who have mental steel and it's not a matter of whether or not they dare to take risks. especially if you refer to what you said, that living life also has risks. I think it all depends on each individual, depending on how they see gambling itself.
But what are you saying, there's nothing wrong with that. because you have the right to have an opinion. back to the topic of this thread. maybe, what you're saying, applies to gamblers who lose $1.4 million in betting sessions. yes, he dared to take risks from his fantastic bets, regardless of the defeat he got.

[Mahanton]

If we are too emotional in betting then it is better to ask AI to decide which team will win.  At least AI can perform a data analysis that can make sense while if we bet emotionally, we might be betting blindly.

AI can perform analysis on the team performances but what is the likelihood that AI will make the right analyses that could aid our luck in the bet, I have not really been a fan of AI but then its popularity is growing and some gamblers are already suggesting it into gambling.

-The reality is that we may conduct whatever analyses we want but some time we fail in our analysis and other time we may make accurate analyses regardless whetherof  we use our instinct or AI.

Analysis or AI, it wont matter much specially on dealing with games that are relying purely in luck but in speaking about sports betting and really be having that kind of use case on searching up information on a particular thing then i could say that it would really be that helpful.This is depending on how you would really be making use of these AI for your advantage but dont ever tend to believe into yourself that this one
would really be that something you can depend or rely on.

In the situation about betting all in even the odds are too low, it wont be always not assuring that you would be able to have that 100% sure win type of bet.There's always
a risks into it.

[Wiwo]

In the situation about betting all in even the odds are too low, it wont be always not assuring that you would be able to have that 100% sure win type of bet.There's always
risks into it.

I agree with that as must bets rely heavily on luck and even if the odds seams to be sure, it's still not a guarantee for winning so there is a couple of things that contribute to how one wins a bet and luck is at the centre of it all.


-even with the best analysis one can still lose the bets so in betting we can create a formula such as Analysis+luck=win and also vis-vassal.

[Mahanton]

In the situation about betting all in even the odds are too low, it wont be always not assuring that you would be able to have that 100% sure win type of bet.There's always
risks into it.

I agree with that as must bets rely heavily on luck and even if the odds seams to be sure, it's still not a guarantee for winning so there is a couple of things that contribute to how one wins a bet and luck is at the centre of it all.


-even with the best analysis one can still lose the bets so in betting we can create a formula such as Analysis+luck=win and also vis-vassal.

And this is where people should really be realizing this because if they would really be having that kind of behavior on going all in into those almost one sided game then for sure in no time they would really be wrekt out by gambling totally and ending up on sleeping on the streets because on having no more money to be spend.Gambling does involved risks no matter what and we do know that we do have something that called "Upset"
which is always been possible for a certain game.This is where gamblers should always be considerate but of course we are doing gambling in the first place which its impossible
that we dont know on what are those probabilities.

[Wiwo]

And this is where people should really be realizing this because if they would really be having that kind of behavior on going all in into those almost one sided game then for sure in no time they would really be wrekt out by gambling totally and ending up on sleeping on the streets because on having no more money to be spend.Gambling does involved risks no matter what and we do know that we do have something that called "Upset"
which is always been possible for a certain game.This is where gamblers should always be considerate but of course, we are doing gambling in the first place which is impossible
that we don't know on what are those probabilities.

I have not really heard of that concept you mentioned as (up set) it look strange and new to me, I don't mind if you can explain the concept to me further to see if I will be interested in applying it to my gambling tactics because learning never stop and to avoid over losing in bets one need to employ all the possible options that would aid their winning.

-Gambling is not a joke and is not a game to the gullible unless they sign up to lose everything, but as a good gambler, one must take note of all the possibilities that will support your winning at the end to avoid running bankruptcy due to continues loses.