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

[Z_MBFM]

If he has an opportunity to make 10 such bets per day, he can get 10% profit per day. I don`t think that you can get such profit with such risk anywhere. It is possible that he make some bets for a year and we just don`t know about it. In such situation he easily can lose several bets. I looked odds today - it is not a problem to get 10 bets. A problem is to get $1mln. But if we increase our bet every day for 10%(yesterday win) after the month of betting we increase our deposit 17 times.
PS. 121 days without losing would be enough to increase our deposit from $100 to $10.000.000.
PPS. I calculated the odd 1.10. With the odd 1.05 it will take 236 days. And with the odd 1.01 you`ll get only $3.780. Anyway it can be interesting strategy to make everyday few bets with small odds. May be i`ll try it soon.

Yeah right, it's easy to make such returns in the stock market on daily basis if done right.
This also raises the suspicion of money laundering as to why would anybody take such a huge risk just to win a small amount.
But anyway, I hope people are aware of this fact that even with 1.01 odds, we can lose all what we have.

I hope so. Money laundering is possible when there is just one such a bet. If it is standard bet and increases - i don`t think that someone will cares about it.
As i said, i want to test it with some small some several months later. It would be interesting experience as for me. I`ll try to calculate everything, but i need to prepare and to free more time.

Money laundering through casino sites is very easy and happens all the time. Due to which countries that are not yet economically strong still ban crypto and crypto casinos. For example my country Bangladesh is still very weak economically so bitcoin or cryptocurrency is still illegal in my country. Because if cryptocurrencies and crypto-casinos are legalized in a weak country, then a lot of money can be laundered from that country and the country can become economically weaker due to which the governments of those countries fear them. 1.01 Odd is almost 100% sure bet but yet unfortunately some of them have to lose at times

[o48o]

I would like to see data you are basing this on, because data i have seen seems to indicate that what you are saying isn't true.

Richness isn't everyone's goal as many smart people are pursuing other meaningful life goals. Meanwhile many rich people even inherit their wealth so they didn't "become" rich, but my data wasn't even pointing to that.

Still, in op's case, gambler wasn't smart however rich he/she was if the goal was to win with smallest possible odds.

I get it that being rich doesn't necessarily mean being smart and there are cases that support your claim.
However there is also a correlation between intelligence and wealth, particularly among self made people.
For example, Mark Zuckerberg and Bill Gates are people with high IQ who have made it big.
Obviously this doesn't apply to everyone but here are some links that discusses the link between intelligence and wealth which in turn helps in making better financial decisions and accumulating wealth.

Links :
https://www.psychologytoday.com/intl/articles/201207/brainiacs-and-billionaires
https://www.psychologytoday.com/intl/blog/fulfillment-at-any-age/201710/why-the-emotionally-intelligent-may-earn-more-money

Like i already said, intelligence (what ever form of intelligence we are talking about in here) is just one way to get rich. There are several other traits that work as well, like the fact that psychopathic people are effective leaders in terms of growth, as they often are charismatic and can be ruthless and effective if needed. So can narcissists when it comes to controlling people for their advantages.

I am not saying, that every rich people is a psychopath or narcissist. I am just pointing out that there are other ways. Like hard working people, focused, enthusiasts, people who know a lot about their specific field, motivated, lucky (even gamblers) and well connected people. Or just someone who knows right people (And many more traits that i could keep on listing).

They all might utilize their traits, and depending on their "luck", personal history and several issues around them. And assuming they are even pursuing to be rich. They might end up being rich, or poor. Just like intelligent people.

[Odusko]

Money laundering through casino sites is very easy and happens all the time. Due to which countries that are not yet economically strong still ban crypto and crypto casinos. For example my country Bangladesh is still very weak economically so bitcoin or cryptocurrency is still illegal in my country. Because if cryptocurrencies and crypto-casinos are legalized in a weak country, then a lot of money can be laundered from that country and the country can become economically weaker due to which the governments of those countries fear them. 1.01 Odd is almost 100% sure bet but yet unfortunately some of them have to lose at times

When we discussed this topic of the potentiality of cryptocurrency being lebel to be used for money laundering in weak economic states, we should at the same time not forget also to mentioned the fact that fiat money is the most used to carry out money laundering also because before you own crypto, you must first have to own fiat and then convert it to cryptocurrency, is not as if those that luander money just go straight to using cryptocurrency to carry out the act, this issues of money laundering relationship was the cryptocurrency have been greatly miscomcepted and we need to clarify a lot of things around this discussion.

Also crypto casino and money laundering have been grossly misconcepted since cryptocurrency casinos have mechanism in place that combat money laundering such as mandatory wagering and kyc on amount that is higher than they trece hold so for sure it is important to know that money laundering can't easily pass through the crypto casinos as you think it could, and for that we need to be clear on what we make out of assumptions of, since majority of those statements are not practically proven.

Countries that ban cryptocurrencies and crypto casinos or any form of casinos does that because of their lack of ability to regulate the industry such as cryptocurrency and casino and for that they can outrightly just ban such activities and labeling anything that relates to those factors as money laundering or even terrorism financing.

[Fivestar4everMVP]

If he has an opportunity to make 10 such bets per day, he can get 10% profit per day. I don`t think that you can get such profit with such risk anywhere. It is possible that he make some bets for a year and we just don`t know about it. In such situation he easily can lose several bets. I looked odds today - it is not a problem to get 10 bets. A problem is to get $1mln. But if we increase our bet every day for 10%(yesterday win) after the month of betting we increase our deposit 17 times.
PS. 121 days without losing would be enough to increase our deposit from $100 to $10.000.000.
PPS. I calculated the odd 1.10. With the odd 1.05 it will take 236 days. And with the odd 1.01 you`ll get only $3.780. Anyway it can be interesting strategy to make everyday few bets with small odds. May be i`ll try it soon.

Yeah right, it's easy to make such returns in the stock market on daily basis if done right.
This also raises the suspicion of money laundering as to why would anybody take such a huge risk just to win a small amount.
But anyway, I hope people are aware of this fact that even with 1.01 odds, we can lose all what we have.

I hope so. Money laundering is possible when there is just one such a bet. If it is standard bet and increases - i don`t think that someone will cares about it.
As i said, i want to test it with some small some several months later. It would be interesting experience as for me. I`ll try to calculate everything, but i need to prepare and to free more time.

Money laundering through casino sites is very easy and happens all the time. Due to which countries that are not yet economically strong still ban crypto and crypto casinos. For example my country Bangladesh is still very weak economically so bitcoin or cryptocurrency is still illegal in my country. Because if cryptocurrencies and crypto-casinos are legalized in a weak country, then a lot of money can be laundered from that country and the country can become economically weaker due to which the governments of those countries fear them. 1.01 Odd is almost 100% sure bet but yet unfortunately some of them have to lose at times

Isn't it ironic that the supposed countries that are economically weak shun and ban great innovations which if they properly implement it into their system, such can become another great source of income for the country as a whole, for example, here in Nigeria, crypto is banned as well, but this has not stopped the citizens from carrying out transactions with crypto, now, imagine how much the country will be making in crypto tax if they had legalized crypto and charge people a small percentage as tax for every crypto transaction carried out on a centralized platforms.
So, that's just about it, but to add as well, banning crypto or gambling casinos does not stop money launders from laundering money if they want to, like I usually do always say or mention, crime have been in existed far before the introduction of bitcoin and crypto in general, same with gambling casinos, it is practically unreasonable to assume that the existence of crypto or casinos is what aid money laundering, I personally do not think so.

[AmoreJaz]

I would like to see data you are basing this on, because data i have seen seems to indicate that what you are saying isn't true.

Richness isn't everyone's goal as many smart people are pursuing other meaningful life goals. Meanwhile many rich people even inherit their wealth so they didn't "become" rich, but my data wasn't even pointing to that.

Still, in op's case, gambler wasn't smart however rich he/she was if the goal was to win with smallest possible odds.

I get it that being rich doesn't necessarily mean being smart and there are cases that support your claim.
However there is also a correlation between intelligence and wealth, particularly among self made people.
For example, Mark Zuckerberg and Bill Gates are people with high IQ who have made it big.
Obviously this doesn't apply to everyone but here are some links that discusses the link between intelligence and wealth which in turn helps in making better financial decisions and accumulating wealth.

Links :
https://www.psychologytoday.com/intl/articles/201207/brainiacs-and-billionaires
https://www.psychologytoday.com/intl/blog/fulfillment-at-any-age/201710/why-the-emotionally-intelligent-may-earn-more-money

At the end of the day, let us remember that having wealth or not, depends on the individual himself. Some people are just contented for what they have. They feel they already fulfilled their lives and they don't need more money to be satisfied with their living. So with a lot of money or not, it is on you how you live your life to the fullest.
Now, if you talk about gambling, a person betting on low odds has his goal of hitting high percentage of winning. Because we have the notion that low odds are likely to happen. However, we should also remember that not all the times that the bookie is right as there are cases that we call upsets. This outcome is usually people least expect it.

[nelson4lov]

I wanted to chip in something here. The $1.4M bet to win $12K is often very likely but you'll only see people with a huge amount of fund playing this kind of bet. Someone once told me that overly rich people don't need plenty odds to be profitable in gambling. With just a small odd, they can stake extremely high and get some good returns. The problem with this strategy is that you need to win between 10 to 150 times to get the same capital back. In the case of this gambler, he needed to wina bet with 1.01 odds 116 times to get back his initial bankroll.

And you didn't mention, or forgot to mention "with exactly the same amount of money, same odds, same risk, same everything", and that brings up several questions, and some of such questions are..
- 1. Does this gambler in question still have up to $1.4 million dollars to continue making this type of bets?
- 2. Let's assume he has it, do you really think its possible for someone to bet and and consecutively win on 1.01 odds for 116 times without losing any of the bets in-between?

If you ask me the number one question, I might have to choose to be on the positive side and say yes, maybe the gambler still have much more of that $1.4 million dollars, but if you ask me the second question, I did tell you that it's totally impossible to bet 116 times and win all the 116 times without losing any of the bet in between, regardless of how small the odds is.

Aha, it's my bad actually. I'm assumed the amount implicitly when I made that reply. However, I want to say that winning those 0.01 odd game that amount of times is  not impossible. Rather, It is quite possible. The only problem is that it would take a very long grind to make it possible via carefully curated bet selections. Those are the kind of odds that given 100 instances, 95 will almost certainly follow through. I'm not the best gambler in the game but really profilc gamblers can do it.

[mak013]

I hope so. Money laundering is possible when there is just one such a bet. If it is standard bet and increases - i don`t think that someone will cares about it.
As i said, i want to test it with some small some several months later. It would be interesting experience as for me. I`ll try to calculate everything, but i need to prepare and to free more time.

Money laundering through casino sites is very easy and happens all the time. Due to which countries that are not yet economically strong still ban crypto and crypto casinos. For example my country Bangladesh is still very weak economically so bitcoin or cryptocurrency is still illegal in my country. Because if cryptocurrencies and crypto-casinos are legalized in a weak country, then a lot of money can be laundered from that country and the country can become economically weaker due to which the governments of those countries fear them. 1.01 Odd is almost 100% sure bet but yet unfortunately some of them have to lose at times

I understand that it is enough simple procedure. I suppose that it wouldn`t be just one deal - it is silly enough to make one big bet for all the sum. But i`m not expert in the laundering, it is only my thought. Today i tried to watch only on the odds about 1.03-1.1. Without analyze of teams or at least game stats it  i can`t say that it looks like the guaranteed win.

[EarnOnVictor]

There's one factor your didn't point out;

• You need to know how much you are chasing and how much you will lose incase the bet goes wrong.

In the subject matter OP brought, the gambler risked $1.4M to win less than $12k. This is purely insane and out of mind. I don't know who gave him the guts to do so. It could be that he has been using same strategy to win before now. This is a warning to people who believes in sure bet. There's nothing sure about betting.

I wanted to chip in something here. The $1.4M bet to win $12K is often very likely but you'll only see people with a huge amount of fund playing this kind of bet. Someone once told me that overly rich people don't need plenty odds to be profitable in gambling. With just a small odd, they can stake extremely high and get some good returns. The problem with this strategy is that you need to win between 10 to 150 times to get the same capital back. In the case of this gambler, he needed to wina bet with 1.01 odds 116 times to get back his initial bankroll.

That's the foolishness of the guy or whosoever engages in what you narrated just because they are rich. If one is rich, are they senseless too? Why the waste? This lacks the right management irrespective of the guise for his action and he should know that it is not reasonable to continue to go for a huge wagering to gain a little.

Imagine, this guy bet a huge $1.4m to win just 0.008 gain, which is $11,200. The many wins that will make up for a single loss are surely 125 times, what is the management there, what is the wisdom there? It's better this guy gives his money to charities or invests it wisely if he so desires to make money from it not aiming for a cheap $11,200 by gambling away $1.4m, it's annoying.

[pawanjain]

Isn't it ironic that the supposed countries that are economically weak shun and ban great innovations which if they properly implement it into their system, such can become another great source of income for the country as a whole, for example, here in Nigeria, crypto is banned as well, but this has not stopped the citizens from carrying out transactions with crypto, now, imagine how much the country will be making in crypto tax if they had legalized crypto and charge people a small percentage as tax for every crypto transaction carried out on a centralized platforms.
So, that's just about it, but to add as well, banning crypto or gambling casinos does not stop money launders from laundering money if they want to, like I usually do always say or mention, crime have been in existed far before the introduction of bitcoin and crypto in general, same with gambling casinos, it is practically unreasonable to assume that the existence of crypto or casinos is what aid money laundering, I personally do not think so.

That is true and that's exactly what India, a neighbouring country of Bangladesh, has implemented.
India knew that it cannot ban crypto usage in India and so it just taxed and is gaining 30% tax on crypto income.
It has also imposed FIU and AML policies on crypto exchanges regulating them and so there are no worries of a ban right now.
But tracking money laundering is still tough especially when gambling is involved. Not all the gambling sites are monitored by the country.

[_BlackStar]

-snip-

That is true and that's exactly what India, a neighbouring country of Bangladesh, has implemented.
India knew that it cannot ban crypto usage in India and so it just taxed and is gaining 30% tax on crypto income.
It has also imposed FIU and AML policies on crypto exchanges regulating them and so there are no worries of a ban right now.
But tracking money laundering is still tough especially when gambling is involved. Not all the gambling sites are monitored by the country.

Casinos being used as money laundering sites is inherently very risky for users. If a casino recognizes such user activity - I am sure they will freeze the funds and may even block the account. The implementation of KYC in crypto casinos is likely to prevent such abuse - but I am also sure that some customers may still get away with it if they do it with a certain approach.

But this is not about casino abuse - it is about the risk of losing that involves low odds. There is no guarantee for any gambler to win a bet even if the odds seem convincing. Low odds are also referred to as favorites to win - but sometimes the reality can be different. The case of the loss in this thread teaches us one thing - the risk of losing still exists even if the gambler has a percentage chance of winning reaching 99.99%.

[AbuBhakar]

Money laundering through casino sites is very easy and happens all the time. Due to which countries that are not yet economically strong still ban crypto and crypto casinos. For example my country Bangladesh is still very weak economically so bitcoin or cryptocurrency is still illegal in my country. Because if cryptocurrencies and crypto-casinos are legalized in a weak country, then a lot of money can be laundered from that country and the country can become economically weaker due to which the governments of those countries fear them. 1.01 Odd is almost 100% sure bet but yet unfortunately some of them have to lose at times

This doesn’t make sense since your crypto will still be in crypto. It’s useless to launder money just because your country ban crypto to a casino since you will still get crypto which is still ban.

You only launder on the casino or mixer if your money came from illegal activities such as stolen crypto so that authorities will not follow your crypto once you withdraw it outside the casino. On your example, you will still get crypto that needs to be converted on fiat so just trade P2P instead of mixing it first.

[erep]

Casinos being used as money laundering sites is inherently very risky for users. If a casino recognizes such user activity - I am sure they will freeze the funds and may even block the account. The implementation of KYC in crypto casinos is likely to prevent such abuse - but I am also sure that some customers may still get away with it if they do it with a certain approach.

Casinos easily recognize users blaming the casino for illegal activities, casinos maintain a database including the history of all user activities and if the casino finds a user who deposits a lot of money into the gambling account balance but he does not use the money to gamble or he does some gambling activities with the lowest bets and then he withdraws the balance to a wallet different from the deposit address, the casino will definitely suspect the user of possibly blaming the use of the casino for money laundering.

But users will not dare to use the casino for illegal money laundering activities even though they use a KYC verified account, because the casino can freeze assets if the user has violated the rules and many licensed casinos must comply with operational standards and there is supervision of the casino, so the possibility of the casino being used for money laundering is currently small.

[TribalBob]

I would like to see data you are basing this on, because data i have seen seems to indicate that what you are saying isn't true.

Richness isn't everyone's goal as many smart people are pursuing other meaningful life goals. Meanwhile many rich people even inherit their wealth so they didn't "become" rich, but my data wasn't even pointing to that.

Still, in op's case, gambler wasn't smart however rich he/she was if the goal was to win with smallest possible odds.

I get it that being rich doesn't necessarily mean being smart and there are cases that support your claim.
However there is also a correlation between intelligence and wealth, particularly among self made people.
For example, Mark Zuckerberg and Bill Gates are people with high IQ who have made it big.
Obviously this doesn't apply to everyone but here are some links that discusses the link between intelligence and wealth which in turn helps in making better financial decisions and accumulating wealth.

Links :
https://www.psychologytoday.com/intl/articles/201207/brainiacs-and-billionaires
https://www.psychologytoday.com/intl/blog/fulfillment-at-any-age/201710/why-the-emotionally-intelligent-may-earn-more-money

At the end of the day, let us remember that having wealth or not, depends on the individual himself. Some people are just contented for what they have. They feel they already fulfilled their lives and they don't more money to be satisfied with their living. So with a lot of money or not, it is on you how you live your life to the fullest.

Agree, because whatever is done with our money, only we know how to manage it, and it should be noted that if financial management is not right, then no matter how much money you have, if it is not managed properly, it will run out, unlike those who only have a little money but are good at managing finances.

[paxmao]

Casinos being used as money laundering sites is inherently very risky for users. If a casino recognizes such user activity - I am sure they will freeze the funds and may even block the account. The implementation of KYC in crypto casinos is likely to prevent such abuse - but I am also sure that some customers may still get away with it if they do it with a certain approach.

Casinos easily recognize users blaming the casino for illegal activities, casinos maintain a database including the history of all user activities and if the casino finds a user who deposits a lot of money into the gambling account balance but he does not use the money to gamble or he does some gambling activities with the lowest bets and then he withdraws the balance to a wallet different from the deposit address, the casino will definitely suspect the user of possibly blaming the use of the casino for money laundering.

But users will not dare to use the casino for illegal money laundering activities even though they use a KYC verified account, because the casino can freeze assets if the user has violated the rules and many licensed casinos must comply with operational standards and there is supervision of the casino, so the possibility of the casino being used for money laundering is currently small.

It is common for the users to blame the site or casino, but to be honest most of the times they work ok. The usual things that go wrong are the KYC after the deposit, the withdrawal limits if they are too generous and the user is not old enough, sometime the customer service and the terms of service,... but overall, the betting limits and allowing the users to make stupid bets is not really a concern for them.

[_BlackStar]

-snip-

Casinos easily recognize users blaming the casino for illegal activities, casinos maintain a database including the history of all user activities and if the casino finds a user who deposits a lot of money into the gambling account balance but he does not use the money to gamble or he does some gambling activities with the lowest bets and then he withdraws the balance to a wallet different from the deposit address, the casino will definitely suspect the user of possibly blaming the use of the casino for money laundering.

But users will not dare to use the casino for illegal money laundering activities even though they use a KYC verified account, because the casino can freeze assets if the user has violated the rules and many licensed casinos must comply with operational standards and there is supervision of the casino, so the possibility of the casino being used for money laundering is currently small.

Money laundering cases are not always about the large amounts you are talking about - they can be lower ^{[$1,000 - $10,000],} but these users do it as often as possible. Casino abuse for money laundering purposes is not always detected - as a result the government requires these casinos to implement KYC although it does not completely prevent abuse.

Users whose goal is to launder money in casinos have basically considered the consequences. They know what the risks are if the casino detects their account activity - but it is not uncommon for their efforts to be successful and smooth. This is the same as those who abuse exchange for money laundering cases.

[Ojima-ojo]

Money laundering through casino sites is very easy and happens all the time. Due to which countries that are not yet economically strong still ban crypto and crypto casinos. For example my country Bangladesh is still very weak economically so bitcoin or cryptocurrency is still illegal in my country. Because if cryptocurrencies and crypto-casinos are legalized in a weak country, then a lot of money can be laundered from that country and the country can become economically weaker due to which the governments of those countries fear them. 1.01 Odd is almost 100% sure bet but yet unfortunately some of them have to lose at times

This doesn’t make sense since your crypto will still be in crypto. It’s useless to launder money just because your country ban crypto to a casino since you will still get crypto which is still ban.

You only launder on the casino or mixer if your money came from illegal activities such as stolen crypto so that authorities will not follow your crypto once you withdraw it outside the casino. On your example, you will still get crypto that needs to be converted on fiat so just trade P2P instead of mixing it first.

Many forks have misunderstood that concept of money laundering in most cases because, when you don't get money from illegal activities you cann be lebel and money launderer, and if you want to gamble with stolen fund, there is the way those criminals could go about all of that unnoticed, but the situation in most countries right now is far different from that, since most countries that ban gambling and lebeling any gambling transaction and illegal and money as laundered money are all doing it in the wrong way, because if declaring every transaction illegal is the case how about those politicians that use stolen funds in physical cash and at physical casino?


Most times fiat is the most used for money laundering, and it should be pointed out clearly if it be about just using a cryptocurrency to gamble thatake it money laundering or what have you, this discussion is quite confusing most cases.

[o48o]

If he has an opportunity to make 10 such bets per day, he can get 10% profit per day. I don`t think that you can get such profit with such risk anywhere. It is possible that he make some bets for a year and we just don`t know about it. In such situation he easily can lose several bets. I looked odds today - it is not a problem to get 10 bets. A problem is to get $1mln. But if we increase our bet every day for 10%(yesterday win) after the month of betting we increase our deposit 17 times.
PS. 121 days without losing would be enough to increase our deposit from $100 to $10.000.000.
PPS. I calculated the odd 1.10. With the odd 1.05 it will take 236 days. And with the odd 1.01 you`ll get only $3.780. Anyway it can be interesting strategy to make everyday few bets with small odds. May be i`ll try it soon.

No you can't, not that fast, but that's only because in this way you would get it by risking whole initial bet. And by doing that 10 times in a row you also increase your changes for losing to that 10%. So you might as well do one 1.1 bet and outcome and odds to win would be identical.

And with those safer ways like with (legit) banks that offer annual interest; they have safeguards in place as they won't be gambling with your money.

[Fivestar4everMVP]

If he has an opportunity to make 10 such bets per day, he can get 10% profit per day. I don`t think that you can get such profit with such risk anywhere. It is possible that he make some bets for a year and we just don`t know about it. In such situation he easily can lose several bets. I looked odds today - it is not a problem to get 10 bets. A problem is to get $1mln. But if we increase our bet every day for 10%(yesterday win) after the month of betting we increase our deposit 17 times.
PS. 121 days without losing would be enough to increase our deposit from $100 to $10.000.000.
PPS. I calculated the odd 1.10. With the odd 1.05 it will take 236 days. And with the odd 1.01 you`ll get only $3.780. Anyway it can be interesting strategy to make everyday few bets with small odds. May be i`ll try it soon.

No you can't, not that fast, but that's only because in this way you would get it by risking whole initial bet. And by doing that 10 times in a row you also increase your changes for losing to that 10%. So you might as well do one 1.1 bet and outcome and odds to win would be identical.

And with those safer ways like with (legit) banks that offer annual interest; they have safeguards in place as they won't be gambling with your money.

Completely agree with you as the first part of your comment was exactly what I was going to point out to mak013.
Looks to me like some people often fail to understand that with greater risk comes greater reward, the gambler can make as much as 10 percent profit on that money anywhere else because, those places outside of gambling is not as risky when compared to staking the whole of that amount in a betting game.

The example you gave with bank is a very good one, bank seems like the safest place, due to its really low risk of losing the money, but in return, the interest will be very very low, there are other places to invest such amount of money and earn better or higher interest, but so also is the risk of losing the money higher.

[mak013]

If he has an opportunity to make 10 such bets per day, he can get 10% profit per day. I don`t think that you can get such profit with such risk anywhere. It is possible that he make some bets for a year and we just don`t know about it. In such situation he easily can lose several bets. I looked odds today - it is not a problem to get 10 bets. A problem is to get $1mln. But if we increase our bet every day for 10%(yesterday win) after the month of betting we increase our deposit 17 times.
PS. 121 days without losing would be enough to increase our deposit from $100 to $10.000.000.
PPS. I calculated the odd 1.10. With the odd 1.05 it will take 236 days. And with the odd 1.01 you`ll get only $3.780. Anyway it can be interesting strategy to make everyday few bets with small odds. May be i`ll try it soon.

No you can't, not that fast, but that's only because in this way you would get it by risking whole initial bet. And by doing that 10 times in a row you also increase your changes for losing to that 10%. So you might as well do one 1.1 bet and outcome and odds to win would be identical.

And with those safer ways like with (legit) banks that offer annual interest; they have safeguards in place as they won't be gambling with your money.

Yes, maths says so. But after calculation i watched some matches with odds between 1.03 and 1.1. All the teams won their games but i can say that without some analyze i can`t say that it looks like guaranteed victory.
PS. I will try later with some small enough some and will try to calculate everything. I think it would be interesting.

[erep]

Money laundering cases are not always about the large amounts you are talking about - they can be lower ^{[$1,000 - $10,000],} but these users do it as often as possible. Casino abuse for money laundering purposes is not always detected - as a result the government requires these casinos to implement KYC although it does not completely prevent abuse.

Yes, they deposit small amounts to avoid suspicion of money laundering from the casino, the trick of depositing varying amounts under $5k regularly can trick the casino into breaking casino rules and maybe they deliberately spend $500-$1k on random bets to pose as active gamblers, maybe they use this trick often after they deposit the funds into a gambling account.

Users whose goal is to launder money in casinos have basically considered the consequences. They know what the risks are if the casino detects their account activity - but it is not uncommon for their efforts to be successful and smooth. This is the same as those who abuse exchange for money laundering cases.

They are ready to lose funds if the casino finds out the fact of user activity that violates the rules, they certainly cannot deny the fact and will not send a ticket to recover the frozen funds, so they choose a casino without KYC or they deposit funds below the withdrawal limit level to avoid KYC.