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

[Mahanton]

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

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

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

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

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

Oh man. I think there is no point in over-analysing all of this. Poor guy just had a BAD DAY! Hahahaha

In cases like these, we need to discuss and find solutions so that people who intend to make these types of bets don't do it because they will realize that these types of bets are not profitable and have a high risk, even though people who like these types of bets think that there is no risk. So when a person is thinking about putting a lot of money on a bet with odds of 1.10 and reads everything that was posted in this thread, even if that person was convinced that they would be making a good choice by betting on the game with odds of 1.10, they will not bet when they read the comments that were posted in this thread.

Many times, people make bad decisions because they didn't have other advice to listen to, and this section has good advice, so we have to continue giving good advice. and about having a bad day, I think that was not the case for this person, he could continue making these types of bets with low odds, but it would be enough for him to lose one bet, something that would be inevitable for him to lose all his money. so he did not lose money due to bad luck or because he had a bad day, he lost money because he did not have knowledge and an effective strategy in sports betting

Its a no brainer actually but there are really those people who are really that ridiculously thinking that they wont really be able to lose on just basing up on the odds that it is really that impossible on which as long those chances wont really be dropping to 0% then there's no way that you could really be having a risk free gambling or betting. So it would really be that just right that you should always take up some considerations when it comes on losing no matter how low the odds are. There are really just that gamblers or bettors who are really that becomes that too confident about their bets despite of those odds.
1.01 might sound that a sure win but its not. If you would really be that putting up all in bet or simply the amount that you cant afford to lose then it would really be that a huge problem on you on where you have lost
up everything with that bet or particular stake. This is why you should really be that careful on whatever decisions you would really be that making into. Gambling or betting is really that risky and there's always a chance of losing no matter how small it would be. Self realizations and having those kind of control is really that mainly needed on this particular time. Basing up on op then 1.4M bet isnt something that small amount that we are talking but assuming that a particular gambler do able to make out such big amount of bet then this guy is probably a rich people.

Making up some decisions basing up on doing bets should really be taken up responsibly. You cant really just that putting up yourself on doing blind bets or being that too confident because it would really be that your
demise if you would really having that kind of approach. You would really be just that basically making yourself having this kind of aspect on where you would really be that trying out to take such
step on which you do believe inside that you are really that having kind.

[paxmao]

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

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

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

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

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

Oh man. I think there is no point in over-analysing all of this. Poor guy just had a BAD DAY! Hahahaha

In cases like these, we need to discuss and find solutions so that people who intend to make these types of bets don't do it because they will realize that these types of bets are not profitable and have a high risk, even though people who like these types of bets think that there is no risk. So when a person is thinking about putting a lot of money on a bet with odds of 1.10 and reads everything that was posted in this thread, even if that person was convinced that they would be making a good choice by betting on the game with odds of 1.10, they will not bet when they read the comments that were posted in this thread.

Many times, people make bad decisions because they didn't have other advice to listen to, and this section has good advice, so we have to continue giving good advice. and about having a bad day, I think that was not the case for this person, he could continue making these types of bets with low odds, but it would be enough for him to lose one bet, something that would be inevitable for him to lose all his money. so he did not lose money due to bad luck or because he had a bad day, he lost money because he did not have knowledge and an effective strategy in sports betting

Its a no brainer actually but there are really those people who are really that ridiculously thinking that they wont really be able to lose on just basing up on the odds that it is really that impossible on which as long those chances wont really be dropping to 0% then there's no way that you could really be having a risk free gambling or betting. So it would really be that just right that you should always take up some considerations when it comes on losing no matter how low the odds are. There are really just that gamblers or bettors who are really that becomes that too confident about their bets despite of those odds.
1.01 might sound that a sure win but its not. If you would really be that putting up all in bet or simply the amount that you cant afford to lose then it would really be that a huge problem on you on where you have lost
up everything with that bet or particular stake. This is why you should really be that careful on whatever decisions you would really be that making into. Gambling or betting is really that risky and there's always a chance of losing no matter how small it would be. Self realizations and having those kind of control is really that mainly needed on this particular time. Basing up on op then 1.4M bet isnt something that small amount that we are talking but assuming that a particular gambler do able to make out such big amount of bet then this guy is probably a rich people.

Making up some decisions basing up on doing bets should really be taken up responsibly. You cant really just that putting up yourself on doing blind bets or being that too confident because it would really be that your
demise if you would really having that kind of approach. You would really be just that basically making yourself having this kind of aspect on where you would really be that trying out to take such
step on which you do believe inside that you are really that having kind.

There is an scenario in which it would it would make some sense to place such bet, or maybe more than one to be honest - for example if you desperately need to multiply the money, for debts, and these can get very large and the larger the more dangerous so 100 and zero are the same if you cannot pay. Another scenario is if the player has the change to place many more similar bets and statistically could win.

[Odusko]

There is an scenario in which it would it would make some sense to place such bet, or maybe more than one to be honest - for example if you desperately need to multiply the money, for debts, and these can get very large and the larger the more dangerous so 100 and zero are the same if you cannot pay. Another scenario is if the player has the change to place many more similar bets and statistically could win.

You are right because here we are discussing the Gambler's loses because the amount is a big amount, but no one know how many times the gambler have won such bets, because at some level he may have made the money from gambling itself to have been able to stake such an amount on an odds that look very promising but it returns in insignificant unless you stake huge amount just like in this case.
So this is gambling any ways and anything can happen no one knows the bet that will win, and at the same time the one that will win, so as a gambler, it is important to place multiple bets with smaller amount that leave you to be able to stake more bets again even when you lose the current bet, having multiple place were to support your bet is key to winning and healing from previous loses, so let the pain be put behind and look forward to a promising next bet, unless if you notice elements of addictions in your gambling activities, only then you have to take a break from betting until you heal 100%.

[Fivestar4everMVP]

There is an scenario in which it would it would make some sense to place such bet, or maybe more than one to be honest - for example if you desperately need to multiply the money, for debts, and these can get very large and the larger the more dangerous so 100 and zero are the same if you cannot pay. Another scenario is if the player has the change to place many more similar bets and statistically could win.

You are right because here we are discussing the Gambler's loses because the amount is a big amount, but no one know how many times the gambler have won such bets, because at some level he may have made the money from gambling itself to have been able to stake such an amount on an odds that look very promising but it returns in insignificant unless you stake huge amount just like in this case.
So this is gambling any ways and anything can happen no one knows the bet that will win, and at the same time the one that will win, so as a gambler, it is important to place multiple bets with smaller amount that leave you to be able to stake more bets again even when you lose the current bet, having multiple place were to support your bet is key to winning and healing from previous loses, so let the pain be put behind and look forward to a promising next bet, unless if you notice elements of addictions in your gambling activities, only then you have to take a break from betting until you heal 100%.

Well, that right really, we all should know that the idea of diversity or diversification is not something that is or should be peculiar to investing in cryptocurrencies alone, for even in gambling, specially sports betting, it's important for us to diversify, just as you have said, placing small bets in multiple places can sometimes be much better than placing just one bet with a lumbsome of money.

There was actually a day I was going to place a bet with $50, I thought of putting the whole money on one bet because I was expecting to atleast, 2x that amount, but later on, I changed my mind and decided to devide the bet into 5 places, $10 on each bet, at the end, I won 2 and lost 3 bet, and even the games I was going to place the entire $50 on was among the ones that I lost, I was happy because If I later didn't diversify the bet, I would have lost the entire $50 just like that.
It was a good lesson to learn for me..

[mak013]

You are right because here we are discussing the Gambler's loses because the amount is a big amount, but no one know how many times the gambler have won such bets, because at some level he may have made the money from gambling itself to have been able to stake such an amount on an odds that look very promising but it returns in insignificant unless you stake huge amount just like in this case.
So this is gambling any ways and anything can happen no one knows the bet that will win, and at the same time the one that will win, so as a gambler, it is important to place multiple bets with smaller amount that leave you to be able to stake more bets again even when you lose the current bet, having multiple place were to support your bet is key to winning and healing from previous loses, so let the pain be put behind and look forward to a promising next bet, unless if you notice elements of addictions in your gambling activities, only then you have to take a break from betting until you heal 100%.

Well, that right really, we all should know that the idea of diversity or diversification is not something that is or should be peculiar to investing in cryptocurrencies alone, for even in gambling, specially sports betting, it's important for us to diversify, just as you have said, placing small bets in multiple places can sometimes be much better than placing just one bet with a lumbsome of money.

There was actually a day I was going to place a bet with $50, I thought of putting the whole money on one bet because I was expecting to atleast, 2x that amount, but later on, I changed my mind and decided to devide the bet into 5 places, $10 on each bet, at the end, I won 2 and lost 3 bet, and even the games I was going to place the entire $50 on was among the ones that I lost, I was happy because If I later didn't diversify the bet, I would have lost the entire $50 just like that.
It was a good lesson to learn for me..

It`s money management. If you want not only to play for process, for emotions but win - you must have strategy and follow it. Here we just see one big lose but we don`t see the full result. May be he made more than 1000 success bets with such odds and it means that his strategy is ok. I`ve seen how guys tried to catch odd 100 and i saw how they won.
As for me - i prefer make the same bet for all matches i analyzed and it depends on my "bank" - the sum i use for gambling. There are some other details, but it is just an example of strategy.