Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! (Read 8226 times)

I don't know what I will call this , well but I'm pretty sure this not gambling for fun , and I can't tell if is money that he can actually afford to lose because to be frank that's actually a use amount of money. And I'm sure that the gambler will definitely regret it at the end , I will keep saying it gambling is not a means to get reach there's no guarantees that you are going to hit the jackpot quickly or hit it all , that's why we should be mindful on how we use our hard earn funds.

Totally a lesson learned for him because we do know that even on how small the odds are and showing that almost a guaranteed win but still its called betting because you are really that indeed risking money to earn money which of course as long the chance didnt dropped to zero then there's always the possibility that you could be able to lose up even on how tiny tit would be.

Its important that you should really be that wary about into those conditions because on the time or moment that you do find yourself having this kind of step and not thinking about risks tolerance then
you are just basically putting up yourself on such condition on which we know that losing up big time will really be not controlled.

If it turns out that this one become a win then that would be an easy money since he had bet out millions then even on how small the odds are then its still a good money to have
but the wrong thing on what happened on here that he had been able to hit up that slim chance of losing on which is really that totally devastating. Its important that risks management would really be
that relevant on these kind of moments but since this person is really that betting up millions then this guy is really a rich person.

No one will really be on their right minds on betting up millions if this is their last money that they do have into their bankaccounts but well we dont really know behind
yet there are actually gamblers who do really make out such bets such as this on which we know that this is something possible.

Lol...this is a foolish decision indeed. I've thought about savings, online investments and even buying properties with the money. These would have yielded more than the $11,200 intended to be won by the gambler, I can't just imagine what he was thinking to have taken such an ignoble risk. But at the same time, some people might make such a decision under the influence regardless of whether or not it's as light as alcohol. This calls for caution whenever we have access to big amounts of money, our brains must be brightenedly working and our minds must be sharpened to avoid issues like this, or even steer clear of such while gambling.

And the worst thing about tiny odds as such is that it gives you confidence that you are going to win, since the potential winning amount is so small, it pushes or rather, encourages the gambler to increase his or her bet size or amount to the highest possible, so as to as well, increase the potential amount to profit.

But at the end of the day, when such games fail to materialize, the gambler losses big because, his or her self assurance of a win made or tricked him or her into betting an amount of money he or she possibly can not afford to lose.
This is exactly what I am suspecting happened with this gambler and it's very unfortunate to say the least, losing over a million dollars to such a low odd game seems stupid to many of us, but the truth is that, the gambler wouldnt have risked such amount of money on a game with odds that is higher because he would think or would have thought the risk of losing is high.

I have seem these kind of odds turn from 1.0001  to the point of not taking bets on them to going over 100 odds!!
And am not surprised to be honest that the gambler lost over a million dollars to such ridiculous odds in an attempt to just win 1% of their capital... sport games like tennis , volleyball, football etcetera can all change in a blink of an eye especially if the favourite is chasing the game with luck running thin on them only for a break to happen and the rest is history.

That's why to some extent I hate small odds because usually they are the culprits that spoil nice accumulators... though back in the day I used these as banker's but not anymore because I lost more funds on these tiny odds.

Yep, it`s what i say. It can be a strategy with several bets. It is easy enough to make 10 bets per day with small risk. If odds about 1.1 ten bets double you deposit daily. This gambler need 100 bets with such odd to return money back.
I repeat - we see only one bet. It looks awful if it is the only bet, but if it is the part of strategy - it can be just some moment of small disappoint.

Maybe he's curious to know if he could able to get good gains even if he use that odds, but he end up getting fucked up and lose his millions in that situation.

For sure the person do that didn't sleep by the time he lost his millions.

This is another sad story to read from a people who lost a lot of money from situation he didn't expect. That's why it always better to gambler just for fun only and think for profit less so that no greedy factor will occur, also no want to gain more feeling come up on our mind since everything is risky especially that we are dealing with casinos.

More than once I have seen news stories about how some millionaire (celebrity or athlete) spent millions of dollars on trinkets, as well as on betting and gambling. That's why I suggested that he might have done it just for fun. In fact, it's hard to understand the real reason why a person would risk $1,4 million for the $ 11.2k profit that he could have gotten if he had won the bet.

We had a player in the past who started with 10K deposit.
He played 1.1 to 1.35 maximum odds in corners ( pre game or live betting ) or over 0.5 goals.
After 10 days he had Over 100K profit but in end of day he cashout 20K total because he lost 9 games with 1.1 - 1.15 odds ( single and multi betting slips ).

Some players they play small amounts for huge wins and some other players they choose 1-2 betting options per week or per day and bet a lot of money for get a profit.

Oh yeah!
Could this even be "the main event in his life?" It could very well be. After all, he has become famous. Now, wherever he goes, he can immediately brag to the girls and everyone else that he is "that guy".
And by the way, not everyone will immediately consider him a fool.
Some, on the contrary, will "pee themselves" from happiness at seeing such a guy.  

Of course, the guy is not simple, he is certainly not a homeless person, from the Harlem slums.
However, it seems that now Harlem is not a slum, but a very prestigious place in NYC.

I don't know why some gambler find it difficult to believe in so much in luck, most gamblers believe that everything is practical and that winning rely on the outcome of one's accurate prediction and that accurate prediction can only come from experts, meanwhile even if a gambler is very skillful in gambling, without luck, they will experience countless losses. Taking for example, slot games is mostly based on luck.

Really that too much if we do speak about having solely just for the sake of fun on the moment that you would really be betting millions of $$$ on which we know that not all would really be having that capacity on doing so and on the moment that you are betting on a 1.01x odds then who the hell will really be considering out on doing such step? of course to those people who do have tons of money on which its clearly showing that he is really that aiming for that gain despite of the small odds and none worth kind of risks specially on big amounts. We do know that as long the chance dont go to zero percent then there's always the probability of losing.
We do know that upsets could happen anytime and this could really be resulting into that kind of disaster into our money and this is something that how many times that had already happened into this gambling space.

Pretty sure that particular bettor does have that right amount of funds on which having that kind of betting amount on a single bets isnt pertaining into those poor fellas would be doing up such step.
Its impossible that they werent aware of the risks involved but this one really slapped out hard into his face and made out those realizations that there's no such thing about sure win. hehehe

Very well, this parten of play is far from fun but for basically winning a jackpot, although we can not dive into the aspects of possible case of gambling addictions since the guy in the story have no prior history that is mentioned in the ops, but for a 1.4 million wagerer something big must have been the motivations behind such an action and possibility that he is a heavy wagerer but will missed calculation this time around, although the games may have been in his favour from the beginning but towards the end part he may have run out of luck at that time, many times we should look more inward when situations like this happens and not be too quick to Judge things since we have some elements that we have to take note of and try as much as possible to avoid making false conclusion.

But the certain thing is that this particular gambler's has his decision way far from being for fun and nothing but possibly he is indebted and want to double the present funds and choosing a low odds gave him some form of confidence which did not last a while for him the whole time, well let hope he recovers from the huge lost and being able to caught down the level of his risk taking at every point in time.

Business as usual but then this time he run out of luck and this is where the situation have landed him, lets hope that he is able to recover, if he have indeed gone extra mile to throw up such huge amount of money, and what is his frame of mind right now that he has this situation at hand.

Sorry but I think you might be wrong, no one will bet with $1.4 million dollars for fun, from all indications, it's crystal clear that who ever is behind that bet simply was betting to win money, looking at the odds of the game in question, this is the type of bet we assume to have a 99 percent chances of winning, which means it's just 1 percent chances of losing, in this type of bet, chances of winning is high, but betting with a very low amount isn't really profitable since the winning will be so Insignificant, so to make a good winning off game with this type of odds, it's always best to bet a really high amount of money, and that is exactly what the gambler behind this bet did, but unfortunately for him, luck wasn't on his side.

I Personally will assume that the gambler did this bet with every single penny on his bankroll, no body will bet over a million dollars for fun, no matter how rich the person is, money is not that easy to come by.

But like you said, lets hope that he is OK with his life, cus this is the type of lose that often lead people to killing themself.

Gambling is all about risking money so when you are risking your money, it is better to analysis the return on that risk because if the return is so less with too little odds then why risk on that bet ?

When the bet is too low the gambler invest more money so that when they win they get some good amount when they win, so this also means that lower bet will disturb your portfolio management because you will risk more and you will have the confident that you will win those bets but sometimes the unexpected happens as told by the OP.

In my mind, such a huge bet could only be made by a multimillionaire who fully realized the risks and for whom losing $1,4 million was not a significant loss. In other words, I hope he did it just for fun, and this loss didn't affect his life. But in all other cases, it was as reckless as possible, especially if the $1,4 million was all of his savings.

In general there's no guarantee whatever types of gambling you'll involve even how low the odd the fact that you are inside gambling can lead you to lose your money, and such amount with OP's post that's something really teach you a hard lesson not to be over confident with your bet, though anything can happen even how good you do your research and how deep you assess before putting your bet, inside gambling upset will take place.

He could get more that 1% but for a year hold. Here he could get 1% for 2 hours. It seems that the he thought that risk was ok for fast money. Ten bets per day can give you 10% daily. It seems much more interesting than savings account. But here we see his mistake, i can only hope that it was a part of strategy and not all his money.

A bet he will never forget Imho that guy just won a special place among list of people who have taken stupid decisions. The topic is already rather old, but people keep on discussing his super bet. In addition to you saying that 1% from bank deposit is boring, when 1% from betting is fast money, if he was betting in online casino then that guy has also levelled his account and got some level-up bonus probably, as well as cashback. So its not just 1% deposit vs 1% gambling profit. Its more benefits for him. And a reward fail or a year

But just getting 1% of a million dollars from a bank deposit is very boring and uninteresting. And this is probably a common practice for housewives, well, of course, who have that million. And besides, you still have to wait some time, or even a whole year or half a year. And here, even though it's 1%, it's fast, you don't have to wait long, and besides, the emotions you get from such an event will be, in my opinion, outrageous. Well, maybe the player wanted to experience such outrageous emotions. And it looks like he got them in full. So I wouldn't particularly scold him or accuse him of complete stupidity.