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.

[dwyane36]

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.

Making more than 1000 successful bets doesn't sound plausible even with such small odds. At least for me, a strategy with such low odds was almost always ineffective, as losses occurred much more often than expected. For example, 2 losses per 100 bets with such odds were not uncommon in my case.

[mak013]

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.

Making more than 1000 successful bets doesn't sound plausible even with such small odds. At least for me, a strategy with such low odds was almost always ineffective, as losses occurred much more often than expected. For example, 2 losses per 100 bets with such odds were not uncommon in my case.

We don`t know. We have only information about this bet. I don`t like such odds but i don`t have money to make few such bets. And, as i said, i have another strategy, that allow me to get stable profit. And one more point - most part of us don`t have such money and don`t understand how it works.
PS. My winrate is about 50-60% but the most part of my bets are between  2.2 and 4.5.

[Fivestar4everMVP]

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.

Making more than 1000 successful bets doesn't sound plausible even with such small odds. At least for me, a strategy with such low odds was almost always ineffective, as losses occurred much more often than expected. For example, 2 losses per 100 bets with such odds were not uncommon in my case.

I have to completely agree with you bud, and this is because if we check it well, even the profit that should have been made from this bet assuming the player won it, is not even worth the amount of money that player staked on the bet, which he lost as we all can see.

This I believe I have mentioned sometime before here on this discussion, I am a type of person and gambler that like or love to compare possible reward and the capital being Staked to potentially get that reward, If the reward is too small compared to the amount of money being put to risk of losing, then I often usually don't see that as a good bet.
What I do see as a good bet is when risk and potential reward tally, that is, if one win such bet, he's happy because the reward is worth the risk taken, but if lost, he bares it and try again.

Risking $1.4 million dollars for a potential reward of just about $11k is totally off sided for me, a very foolish risk to take.

[Lanatsa]

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.

Making more than 1000 successful bets doesn't sound plausible even with such small odds. At least for me, a strategy with such low odds was almost always ineffective, as losses occurred much more often than expected. For example, 2 losses per 100 bets with such odds were not uncommon in my case.

I have to completely agree with you bud, and this is because if we check it well, even the profit that should have been made from this bet assuming the player won it, is not even worth the amount of money that player staked on the bet, which he lost as we all can see.

This I believe I have mentioned sometime before here on this discussion, I am a type of person and gambler that like or love to compare possible reward and the capital being Staked to potentially get that reward, If the reward is too small compared to the amount of money being put to risk of losing, then I often usually don't see that as a good bet.
What I do see as a good bet is when risk and potential reward tally, that is, if one win such bet, he's happy because the reward is worth the risk taken, but if lost, he bares it and try again.

Risking $1.4 million dollars for a potential reward of just about $11k is totally off sided for me, a very foolish risk to take.

Dont know on whats on their minds on why they do really end up on that kind of betting consideration in trying out to compare or trying to look on the potential winning and the potential money that they could lost, or simply with the risks management thing or in concern then there is really no balance or simply its not really that worth on taking up such step or such bet. Well, its their money to be used then its up to theirs if they would really be able to bare up with the risks involved. There would really be no issues since its their money, it is really just that something that gives out some questions on how the heck these gamblers or bettors do make out such bet without even trying to think whether its worth or not. Even if we do say that this guy is really that a millionaire but if he would really be continuing such habit
then it wont really be shocking that he would really be sleeping on the streets.

As long the odds wont really be dropping to zero then it would really be that understandable that odds of losing is really there no matter how small it would be.
Even myself as a millionaire wont really be tending or trying out to make bets on 1.01 bets no matter how it do looks 99% winning rate of a certain game.
We do know that shitty upsets could happen and could fuck you up hard. 

[Wapfika]

Making more than 1000 successful bets doesn't sound plausible even with such small odds. At least for me, a strategy with such low odds was almost always ineffective, as losses occurred much more often than expected. For example, 2 losses per 100 bets with such odds were not uncommon in my case.

So true. The most painful part is your 2 losses out of 100 sometimes greater than your total earnings on 80 bets won due to profit is too small to cover the bet loss. It’s so frustrating and at the same time such a waste of time.

It’s better to bet on regular odds bet as long as you properly analyze it since a 60% and above winning percentage can still put you in profit.

[Odusko]

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.

Making more than 1000 successful bets doesn't sound plausible even with such small odds. At least for me, a strategy with such low odds was almost always ineffective, as losses occurred much more often than expected. For example, 2 losses per 100 bets with such odds were not uncommon in my case.

Risking a wooping sum of 1.4 million dollars on a bet is quite crazy and somewhat unbelievable, but since we know from experience how crazy some gambler's can be with amount they stake on bet make us to believe this story and for that we need to clarify what our stance will be if we are find ourselves in such a position at to take the next bet, for me I won't risk any amount that higher than $500 on a single bet regardless what the odds may be, I know in this situation, the gambler was tempted to splash such a huge amount of money on the bet because of the promising odds, but not knowing that odds are not a guarantee when it comes to Gambling.
Between I hope the gambler won all the entire 1.4 million from his previous bets because that is the only way he can have some level of relief from this big lose.

[mak013]

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.

Making more than 1000 successful bets doesn't sound plausible even with such small odds. At least for me, a strategy with such low odds was almost always ineffective, as losses occurred much more often than expected. For example, 2 losses per 100 bets with such odds were not uncommon in my case.

I have to completely agree with you bud, and this is because if we check it well, even the profit that should have been made from this bet assuming the player won it, is not even worth the amount of money that player staked on the bet, which he lost as we all can see.

This I believe I have mentioned sometime before here on this discussion, I am a type of person and gambler that like or love to compare possible reward and the capital being Staked to potentially get that reward, If the reward is too small compared to the amount of money being put to risk of losing, then I often usually don't see that as a good bet.
What I do see as a good bet is when risk and potential reward tally, that is, if one win such bet, he's happy because the reward is worth the risk taken, but if lost, he bares it and try again.

Risking $1.4 million dollars for a potential reward of just about $11k is totally off sided for me, a very foolish risk to take.

If he analyze event he bet - he can win 1000, 10000 times before one such bet. Of course he can lose at the start but we don`t know anything about his bets and strategy. If he has an opportunity to make several such bets one time - he can easily find several such matches per day. Even if he make 3 bets per day - it will take 3 moths to get million.
PS. I don`t like such bets, but without some additional details we can`t say that it was silly decision.

[rachael9385]

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.

Making more than 1000 successful bets doesn't sound plausible even with such small odds. At least for me, a strategy with such low odds was almost always ineffective, as losses occurred much more often than expected. For example, 2 losses per 100 bets with such odds were not uncommon in my case.

There are two things that make lose find place in ones bet, one is of the odds are like 1.01, the gambler will not be satisfied with the potential amount no matter how much he used to stake on the games, which means that the gambler will need to add more games for the odds to increase up to 1.50 or 2 odds if possible. And the more games you add the more loss finds place on the games.
Two is that if the odd is very big loss can also be closer to the games because most big odds are like a trap set for a gambler. But the truth remains that a gambler needs luck to win his bet.

[Perfectbaby]

What you should looked at is how wealthy he is for wasting the sum of $1.4m to gamble I don't know how rich he may be but I think the risk is much because even though he is so wealthy he could have tried to reduce his betting amount. The bet doesn't give him about 2x or 1.5x is actually reasonable than wasting huge amount for a bet less than 0.1 to me I see it as stupidity instead wasting such amount.

[mak013]

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.

Making more than 1000 successful bets doesn't sound plausible even with such small odds. At least for me, a strategy with such low odds was almost always ineffective, as losses occurred much more often than expected. For example, 2 losses per 100 bets with such odds were not uncommon in my case.

There are two things that make lose find place in ones bet, one is of the odds are like 1.01, the gambler will not be satisfied with the potential amount no matter how much he used to stake on the games, which means that the gambler will need to add more games for the odds to increase up to 1.50 or 2 odds if possible. And the more games you add the more loss finds place on the games.
Two is that if the odd is very big loss can also be closer to the games because most big odds are like a trap set for a gambler. But the truth remains that a gambler needs luck to win his bet.

It is your point of view. But it doesn`t mean that all other gamblers think the same. I don`t want to say that you is mistaken, but there are different strategies.
I saw how gamblers won with the odd 100, but they bet from $20 to $100. Here we see how someone bet big money to get small but stable profit. Here he mistakes but we can`t say that he lost all his money or that his strategy is bad - we just don`t have enough information.

[Fivestar4everMVP]

What you should looked at is how wealthy he is for wasting the sum of $1.4m to gamble I don't know how rich he may be but I think the risk is much because even though he is so wealthy he could have tried to reduce his betting amount. The bet doesn't give him about 2x or 1.5x is actually reasonable than wasting huge amount for a bet less than 0.1 to me I see it as stupidity instead wasting such amount.

Well, for those of us that have been following this thread and discussions on it since the very beginning, we possibly have seen that stupidity thing far more that a hundred times, and by now, I did say that this possibly have happened and we that it has not happened to should endeavor to learn from this.

Even if that dude who was behind this bet was a billionaire, that is not enough justification to be this stupid as to waste such an amount of money on a single bet with odd as low as 1.01, that is, risking a whooping $1.4 millions dollars for a reward of 0.01 percent, I wouldn't pity the gambler if this was actually all the money he had and then lost it all this way, but all the same, lucky is the casino where the game was played on.

[STT]

Ive read people doing this kind of bet recently, not with millions but large amounts and the reasoning in that case was the offers based around rakeback; they were only available for betting large amounts.  Various offers encourage betting and that might explain why the risk was taken on such a large for the low reward.

  Obviously no bet is safe but thats easy to say after the fact, I'd be devastated by it but maybe it was just play money for them.

[milewilda]

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.

Making more than 1000 successful bets doesn't sound plausible even with such small odds. At least for me, a strategy with such low odds was almost always ineffective, as losses occurred much more often than expected. For example, 2 losses per 100 bets with such odds were not uncommon in my case.

There are two things that make lose find place in ones bet, one is of the odds are like 1.01, the gambler will not be satisfied with the potential amount no matter how much he used to stake on the games, which means that the gambler will need to add more games for the odds to increase up to 1.50 or 2 odds if possible. And the more games you add the more loss finds place on the games.
Two is that if the odd is very big loss can also be closer to the games because most big odds are like a trap set for a gambler. But the truth remains that a gambler needs luck to win his bet.

It is your point of view. But it doesn`t mean that all other gamblers think the same. I don`t want to say that you is mistaken, but there are different strategies.
I saw how gamblers won with the odd 100, but they bet from $20 to $100. Here we see how someone bet big money to get small but stable profit. Here he mistakes but we can`t say that he lost all his money or that his strategy is bad - we just don`t have enough information.

People do really love on drawing out some conclusions on which it would really be just that normal. Even though we dont know the entire story or even do know that someones bankroll then we would be able to assume that the certain gambler is really that broke up or have lost it all. Its really just that too wrong that someone would really be having those kind of words that it is a bad strategy but same as you said that it would really be that impossible for someone to make out some decisions without having those kind of considerations about on the risks involved. 1.01 odds isnt something that you could really be that able to see yourself to be an opportunity to make money. It isnt really just that worth of the risks on making out such million of amount in terms of bets. If someoen could be able to afford such thing then just let them be.

It is really just that not likely they arent aware on the risks involved. Its never been that worth on having those kind of risks bets into and odds on which is really that considered lowest. 100% winning
bet doesnt exist and there's always that chance or odds that upsets could happen. If someone is really that having those kind of bets into that kind of amount with those specific odds then it do really
shows that he's really that too confident with that but well shit things happen and no matter how it is heavily favorited but doesnt mean that someone cant lose. Always
bare up with this into your mind and thats why im not really that confident on doing some all in bets.

[khaled0111]

I don't know how rich he may be but I think the risk is much because even though he is so wealthy he could have tried to reduce his betting amount. The bet doesn't give him about 2x or 1.5x is actually reasonable than wasting huge amount for a bet less than 0.1 to me I see it as stupidity instead wasting such amount.

I don't know why you guys keep calling him stupid! What if he had won more than 100 bets before that, would you still call him stupid? He was just unlucky and that happens a lot on gambling.
Betting smaller amounts on higher odds will lead to the same result on the long run. The only difference is that he will, likely, have the chance to place more bets and extend his betting session.

[uneng]

Ive read people doing this kind of bet recently, not with millions but large amounts and the reasoning in that case was the offers based around rakeback; they were only available for betting large amounts.  Various offers encourage betting and that might explain why the risk was taken on such a large for the low reward.

  Obviously no bet is safe but thats easy to say after the fact, I'd be devastated by it but maybe it was just play money for them.

Rakeback looks tempting at first impression, but I don't know many gamblers who had success pursuing profit this way at casino platforms. The story shared on this thread is a good example of why rakeback shouldn't be artificially pursued by gamblers, rather it should be just considered extra profit from usual gambling sessions along the time.

Low odds and rakeback look safe and a potential source of steady income on long run, however when the gambler executes the plan for real, things don't go so well as we can see. It's not advisable to gamble with low odds, because besides not being profitable, you just need a single loss to have a large portion of your money gone. It's preferable to increase the odds while decreasing the bet size.

It's too frustrating to lose so much money placing a bet which you had more than 90% winning chances.