Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 11.

lienfaye

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Quote from: serjent05 on April 22, 2023, 05:39:59 PM

Quote from: len01 on April 22, 2023, 03:45:01 PM

Quote from: Vaskiy on April 21, 2023, 06:25:26 PM

As suggested only thing that can be done is through reducing the stake, because we can't be sure of the outcome. With the mentioned odd losing the bet is really unbelievable, but things happen for our bad luck. Maybe this bet loss could be a big learning for more other users who have the mentality to go for high stakes on low odds.

it's quite simple that all types of bets in gambling still depend on luck even though sports betting is famous for the greater luck that you get from analyzing one of the teams, but there will always be surprises in every match. so there's no need to be too greedy for betting large amounts at small odd.
and some people here must think that the guy bet 1.4 million dollars just because of greed.

In gambling, Luck plays a huge part. It is the modifier that dictates the result of the game. Sports betting being categorized as a skill-based game is still dependent on the chance of things happening. Like the chance of a player not performing well, a chance of unexpected lapses on players, and the chance of an accidental field goal, there are lots of scenarios where luck can play a huge part to change the course of the game. Just like what happened in this game where the guy losses 1.4m. The guy bet on the leading team but the opponent caught up and win.

Indeed. Odds are not only the basis because the result can change unexpectedly if the scenarios that you mentioned happened during the game (in sports betting). Just shows there's no 100% assurance in gambling, so don't bet huge amount if you can't bear losing it incase something went wrong. It's still better to risk a money that you're still fine even you happen to lose it. So before placing a bet always think twice and lower your hopes to not have regrets after since you're prepared regardless of the result.

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Quote from: CYBER_COWBOY on April 23, 2023, 03:40:57 AM

Of course it is, nobody have a 100% win record, you just must be good enough to win more often then you lose and check up the games before you bet and minimize the luck.

Luck is also an important factor in gambling and since it is impossible to win continually without any loss and also vis-vassal in trying to minimize the number of losses its most important to meet up with the necessary input that will guarantee you winning and relying a little on Luck and these mechanisms have worked for a lot of gamblers in minimizing risk.

In the case of the ops mentioned in this thread, it's clear that the gambler was out of luck and risked too much on the bet due to the low odds and thinking that it was a sure odds for him to stake such an amount even though the reward seems extremely low.

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Quote from: Wiwo on April 22, 2023, 03:11:19 PM

Quote from: CYBER_COWBOY on April 22, 2023, 10:48:45 AM

I agree with you 100% that - "it's really risky playing an huge amount. This not helps gambler because the risk is much much higher then rewards!"

Me personal would never bet like this, i bet normal amounts and looking for odds all from 1.50x and up.
I rarley touch odds under 1.40x

Even with such odds there is still likelyhood that tou still will lose and when it comes to gambling, we should note the place for luck and if we have no luck by our side whateverthe odds or the staking amount will be it will still not get us rewards as expected.

So the gambler who risked such amount may have run out of luck this time because a 1.01 odds is relatively a sure odds to bet whaatever amount on.

Quote from: CYBER_COWBOY on April 22, 2023, 10:48:45 AM

But you said it very good "the risk is much much higher tthan thanrewards!"

Much better to play with 5% of the money and find a very doable double or single around 2x and then work himself up, that's aat least how would do.

So.e time, no risk and no reward, but definitely 1.14 million dollars risk is too much for anyone to bear then shit happens and oos need to move on at this moment since he can afford to risk an amount of 1.14 million in pote al 14k rewards it sounds ridiculous.

Of course it is, nobody have a 100% win record, you just must be good enough to win more often then you lose and check up the games before you bet and minimize the luck.

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Quote from: len01 on April 22, 2023, 03:45:01 PM

Quote from: Vaskiy on April 21, 2023, 06:25:26 PM

As suggested only thing that can be done is through reducing the stake, because we can't be sure of the outcome. With the mentioned odd losing the bet is really unbelievable, but things happen for our bad luck. Maybe this bet loss could be a big learning for more other users who have the mentality to go for high stakes on low odds.

it's quite simple that all types of bets in gambling still depend on luck even though sports betting is famous for the greater luck that you get from analyzing one of the teams, but there will always be surprises in every match. so there's no need to be too greedy for betting large amounts at small odd.
and some people here must think that the guy bet 1.4 million dollars just because of greed.

In gambling, Luck plays a huge part. It is the modifier that dictates the result of the game. Sports betting being categorized as a skill-based game is still dependent on the chance of things happening. Like the chance of a player not performing well, a chance of unexpected lapses on players, and the chance of an accidental field goal, there are lots of scenarios where luck can play a huge part to change the course of the game. Just like what happened in this game where the guy losses 1.4m. The guy bet on the leading team but the opponent caught up and win.

qwertyup23

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Quote from: len01 on April 22, 2023, 03:45:01 PM

Quote from: Vaskiy on April 21, 2023, 06:25:26 PM

As suggested only thing that can be done is through reducing the stake, because we can't be sure of the outcome. With the mentioned odd losing the bet is really unbelievable, but things happen for our bad luck. Maybe this bet loss could be a big learning for more other users who have the mentality to go for high stakes on low odds.

it's quite simple that all types of bets in gambling still depend on luck even though sports betting is famous for the greater luck that you get from analyzing one of the teams, but there will always be surprises in every match. so there's no need to be too greedy for betting large amounts at small odd.
and some people here must think that the guy bet 1.4 million dollars just because of greed.

Again, there is nothing absolute in gambling. Even if the odds are relatively low and you may consider it as a safe bet, no one is still safe in this kind of venture.

Personally, a person who gambles with 1.01 odds is just unlucky- he should have at least divided his bets and wagered a relatively small amount of money in the process. To reiterate, there is nothing absolute in gambling even if the odds are seemingly with you. You may think that this is a safe and guaranteed bet but this just explains on why gambling can be both brutal and rewarding at the same time.

Quote from: Negotiation on April 18, 2023, 09:50:00 PM

Yes it is possible to avoid risk if one knows well about gambling before starting gambling. Many people get greedy and lose everything because they don't risk money you have to start the game with small bets first. If you start with big bad you are more likely to lose in the first round it will disappoint you. So start playing with small amount of bets first and choose a good quality casino platform which is very reliable.

I do think it is more on understanding on what you are betting your money on. Sure, 1.01 odds may seem like a safe bet that can give you a win 80-90% of the time but that hidden 1% may still cost you the game. Yup, the guy was very unlucky but he should know that this kind of outcome is definitely possible in this kind of activity.

Wiwo

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Quote from: len01 on April 22, 2023, 03:45:01 PM

Quote from: Vaskiy on April 21, 2023, 06:25:26 PM

As suggested only thing that can be done is through reducing the stake, because we can't be sure of the outcome. With the mentioned odd losing the bet is really unbelievable, but things happen for our bad luck. Maybe this bet loss could be a big learning for more other users who have the mentality to go for high stakes on low odds.

it's quite simple that all types of bets in gambling still depend on luck even though sports betting is famous for the greater luck that you get from analyzing one of the teams, but there will always be surprises in every match. so there's no need to be too greedy for betting large amounts at small odds.
and some people here must think that the guy bet 1.4 million dollars just because of greed.

Yeah, luck plays an important role in gambling and history can attest to that simple fact alit of the time most gamblers have a hard they fortune change all with just luck and this could be in both ways, gambling requires high risk and even though you did you analyses of the possible outcome of the game, some uncontrollable events and mistakes can twist everything in whatever directions, sometimes it favours the player and other time the player will lose outrightly just like the case of the oos in this story.

So we will still rely much on luck no matter the level of our expertise in the game, this is the reality we must leave within gambling, but then the responsibility of how much we risk on a bet is left for us to decide and in most case, it is better to stake a smaller amount instead taking some deadly risks.

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Quote from: Vaskiy on April 21, 2023, 06:25:26 PM

As suggested only thing that can be done is through reducing the stake, because we can't be sure of the outcome. With the mentioned odd losing the bet is really unbelievable, but things happen for our bad luck. Maybe this bet loss could be a big learning for more other users who have the mentality to go for high stakes on low odds.

it's quite simple that all types of bets in gambling still depend on luck even though sports betting is famous for the greater luck that you get from analyzing one of the teams, but there will always be surprises in every match. so there's no need to be too greedy for betting large amounts at small odd.
and some people here must think that the guy bet 1.4 million dollars just because of greed.

Wiwo

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Quote from: CYBER_COWBOY on April 22, 2023, 10:48:45 AM

I agree with you 100% that - "it's really risky playing an huge amount. This not helps gambler because the risk is much much higher then rewards!"

Me personal would never bet like this, i bet normal amounts and looking for odds all from 1.50x and up.
I rarley touch odds under 1.40x

Even with such odds there is still likelyhood that tou still will lose and when it comes to gambling, we should note the place for luck and if we have no luck by our side whateverthe odds or the staking amount will be it will still not get us rewards as expected.

So the gambler who risked such amount may have run out of luck this time because a 1.01 odds is relatively a sure odds to bet whaatever amount on.

Quote from: CYBER_COWBOY on April 22, 2023, 10:48:45 AM

But you said it very good "the risk is much much higher tthan thanrewards!"

Much better to play with 5% of the money and find a very doable double or single around 2x and then work himself up, that's aat least how would do.

So.e time, no risk and no reward, but definitely 1.14 million dollars risk is too much for anyone to bear then shit happens and oos need to move on at this moment since he can afford to risk an amount of 1.14 million in pote al 14k rewards it sounds ridiculous.

CYBER_COWBOY

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Don't talk the talk, if you can't walk the walk.

I agree with you 100% that - "it's really risky playing an huge amount. This not helps gambler because the risk is much much higher then rewards!"

Me personal would never bet like this, i bet normal amounts and looking for odds all from 1.50x and up.
I rarley touch odds under 1.40x.

But you said it very good "the risk is much much higher then rewards!"

Much better to play with 5% of the money and find a very doable double or single around 2x and then work himself up, thats atleast how i would do.

mak013

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Quote from: Wiwo on April 21, 2023, 09:08:17 AM

Quote from: mak013 on April 21, 2023, 07:02:33 AM

Yep. In gambling it is always possible to lose and if you`re ready for it - you willn`t lose all your money trying to win. On the one hand, you lose some emotions, but on the other hand you decrease risks of losing everything.
I`d prefer to lose the part about emotions.
PS. I try to calculate my wins and losses. For the last year, I even get profit.

Losing is part of gambling and there is no way we can separate losing from gambling since losing is one of the key factors in gambling because that is the means we're by which the casino generates its income and build revenue. When you lose the casino gain the same way when you win the casino loses revenue so both are part and parcel of gambling.

But it is important to minimize the rate at which we lose even though we are not in control of the result of the games as a player, but we can reduce the level of our stake.

It is important if you trying to make gambling a way of income. If you are gambling for fun - you usually have several rules that allows you to gamble comfortable. For example how i do it. I usually set 2 limits: money, i ready to lose and time, i ready to spend. When one limit is reached - i stop gamble. And few first games allows me to define the bet.

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Quote from: Wiwo on April 21, 2023, 09:08:17 AM

Losing is part of gambling and there is no way we can separate losing from gambling since losing is one of the key factors in gambling because that is the means we're by which the casino generates its income and build revenue. When you lose the casino gain the same way when you win the casino loses revenue so both are part and parcel of gambling.

But it is important to minimize the rate at which we lose even though we are not in control of the result of the games as a player, but we can reduce the level of our stake.

As suggested only thing that can be done is through reducing the stake, because we can't be sure of the outcome. With the mentioned odd losing the bet is really unbelievable, but things happen for our bad luck. Maybe this bet loss could be a big learning for more other users who have the mentality to go for high stakes on low odds.

Wiwo

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Quote from: mak013 on April 21, 2023, 07:02:33 AM

Quote from: Wiwo on April 18, 2023, 02:28:58 PM

Quote from: mak013 on April 10, 2023, 12:36:32 AM

In gambling you always can lose. It is possible that this gambler has a strategy with lots of big bets with small odds. But even in such strategy he has tp remember that it is possible to lose. In such situation it can be a lesson for us - what is money management. But the same time it is possible that it is all his money and he decided that he has found a way to get easy money. Thus, he received a lesson that he no longer needs.

One quality a gambler should develop is the ability to embrace losses with a good mindset because this will result in how the gambler act after that some gamblers have failed to properly manage their losses and that can affect their general well-being since some due to their inability to handle lose have resulted into addiction because of excessive chasing of loses which lead them into addiction.

But then if a gambler have a better understanding and the background knowledge of how to handle losses it will be easier for them to handle such losses when they occur.

Yep. In gambling it is always possible to lose and if you`re ready for it - you willn`t lose all your money trying to win. On the one hand, you lose some emotions, but on the other hand you decrease risks of losing everything.
I`d prefer to lose the part about emotions.
PS. I try to calculate my wins and losses. For the last year, I even get profit.

Losing is part of gambling and there is no way we can separate losing from gambling since losing is one of the key factors in gambling because that is the means we're by which the casino generates its income and build revenue. When you lose the casino gain the same way when you win the casino loses revenue so both are part and parcel of gambling.

But it is important to minimize the rate at which we lose even though we are not in control of the result of the games as a player, but we can reduce the level of our stake.

mak013

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Quote from: Wiwo on April 18, 2023, 02:28:58 PM

Quote from: mak013 on April 10, 2023, 12:36:32 AM

In gambling you always can lose. It is possible that this gambler has a strategy with lots of big bets with small odds. But even in such strategy he has tp remember that it is possible to lose. In such situation it can be a lesson for us - what is money management. But the same time it is possible that it is all his money and he decided that he has found a way to get easy money. Thus, he received a lesson that he no longer needs.

One quality a gambler should develop is the ability to embrace losses with a good mindset because this will result in how the gambler act after that some gamblers have failed to properly manage their losses and that can affect their general well-being since some due to their inability to handle lose have resulted into addiction because of excessive chasing of loses which lead them into addiction.

But then if a gambler have a better understanding and the background knowledge of how to handle losses it will be easier for them to handle such losses when they occur.

Yep. In gambling it is always possible to lose and if you`re ready for it - you willn`t lose all your money trying to win. On the one hand, you lose some emotions, but on the other hand you decrease risks of losing everything.
I`d prefer to lose the part of emotions.
PS. I try to calculate my wins and loses. For the last year i even get profit.

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Quote from: Mr.right85 on April 18, 2023, 06:08:39 PM

Quote from: erep on April 18, 2023, 04:12:36 PM

Quote from: Fivestar4everMVP on April 18, 2023, 02:33:12 PM

but a mere $11,000, what is $11,000 compared to $1.4 million dollars?

Comparison of profit predictions with betting capital is irrational because risking big risks for low profits, I don't care how easy it is to make money in gambling but anything high risk must be considered before betting because even though he has predicted profits but the win is not on his side and his predictions are wrong, millions of dollars lost on single unreasonable bets.

It was a bad bet but, not one without consideration I suppose its the gamblers betting style and must have been building his fortune around this style of betting.
Betting on live events and in favour of a team that is already at advantage with some obvious seeming wins.

Unfortunately, it doesn't always go down this way. There is always risk until the whistle goes out for a game over.

A $1.4k bet against an $11k win is just way too low to risk. Let's hope this gambler has hot more from where that came from else, the gambler is done for.

Bad wagers, bad wagers, bad wagers. Rather than yelling at the screen in a horror film, we are yelling at the gambler for taking such a huge chance

It may seem like a no-brainer to bet in favor of the favorite in a live event, but we all know that the underdog may sometimes pull off the upset. It's like betting on a penguin to win a fight against a lion because penguins are cute. It's a risky venture, and only the most reckless would attempt it
It's not easy to reconcile a loss of $1,400 with a gain of $11,000. Imagine ordering a pizza and then being given only one piece. If this gambler loses all their money, they'll have to live on ramen noodles for the rest of their lives

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Quote from: Fivestar4everMVP on April 18, 2023, 02:33:12 PM

Exactly on point, and by the way, the person was not going to win $14,000 but $11,000, this is if I am right with my calculations though.

Correct. $11,200 to be precise, as the payout was actually 1.008 not 1.01.

Quote from: Fivestar4everMVP on April 18, 2023, 02:33:12 PM

I have said it here before that, it would take some one with already a good experience in gambling to wager such an amount on a single bet, he or she is sure not a novice to gambling, and speaking of having respect for money, this like you said, depends on how the money was made, and I also think that emotional (could be spiritual or physical emotion) state of the person at the time of bet also has an important role to play, because I believe that even though money was made easily, its still not a reason to risk such a huge amount in a single bet, not even to win millions or dollar, but a mere $11,000, what is $11,000 compared to $1.4 million dollars?

Personally, I don't think he was very experienced, if he was he would probably know that you can get badly burned by betting on massive favorites, but I'd be guessing he had done that few times before (probably with smaller amounts), was successful and got carried away. It's way easier to stop gambling after a big loss than after a series of wins.

And I suspect he might have gambled with money that wasn't quite his or that he held for some purpose (business funds etc), for the reasons I stated in the previous post (he saw $11,000 as a reward worth the risk).

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Quote from: ufaiz50 on April 19, 2023, 05:27:01 AM

Why would people place bet with a big amount where the chance of winning is just 1.01 odds that was really stupid if you are going to think of it. But I understand that he wants to make easy money with that big amount but look what happened right? If I have that kind of money I would just rather enjoy things myself than risking it, I'll secured it or invest it somewhere. By just reading, it really hurts, what more if you are that person right?

I think you have missed the point of odds calculations and according to sport bet odds calculation 1.01 is a sure odd and the tendency of winning is almost 99% but luck was not in the gambler's favour which is why he lost even with the 1% losing potency and this is why we must also rely on luck to win some time and this incident is a good example of the role of luck in gambling.

But also for sure, we can not advise anyone to stake such a huge amount on a game bit then some people tend to take high risks and this situation has thought us some lessons.

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Quote from: babygun on April 18, 2023, 08:32:46 PM

Quote from: Mr.right85 on April 18, 2023, 06:08:39 PM

It was a bad bet but, not one without consideration I suppose its the gamblers betting style and must have been building his fortune around this style of betting.
Betting on live events and in favour of a team that is already at advantage with some obvious seeming wins.

Unfortunately, it doesn't always go down this way. There is always risk until the whistle goes out for a game over.

A $1.4k bet against an $11k win is just way too low to risk. Let's hope this gambler has hot more from where that came from else, the gambler is done for.

He is a high roller for sure that can miss the money. This bet also clearly shows that there is no « surebet » and that there is no value at all in placing bets on this low odds. In fact all odds below 1.5 are low for me as I prefer valuebets.

A gambler's perspective may differ from other gamblers. Whether betting odds are low or high that doesn't fact but a gambler has to bet based on his certainty of winning. One should not bet on such small odds that if he wins it will have no effect but if he loses he will be in big trouble. Every bet will have risk and gambler should accept that risk simultaneously bet at a good betting odds. There is no 100% certainty in gambling. If one bets with 100% certainty then that gambler may face defeat in his bet.

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Why would people place bet with a big amount where the chance of winning is just 1.01 odds that was really stupid if you are going to think of it. But I understand that he wants to make easy money with that big amount but look what happened right? If I have that kind of money I would just rather enjoy things myself than risking it, I'll secured it or invest it somewhere. By just reading, it really hurts, what more if you are that person right?

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Quote from: babygun on April 18, 2023, 08:32:46 PM

Quote from: Mr.right85 on April 18, 2023, 06:08:39 PM

It was a bad bet but, not one without consideration I suppose its the gamblers betting style and must have been building his fortune around this style of betting.
Betting on live events and in favour of a team that is already at advantage with some obvious seeming wins.

Unfortunately, it doesn't always go down this way. There is always risk until the whistle goes out for a game over.

A $1.4k bet against an $11k win is just way too low to risk. Let's hope this gambler has hot more from where that came from else, the gambler is done for.

He is a high roller for sure that can miss the money. This bet also clearly shows that there is no « surebet » and that there is no value at all in placing bets on this low odds. In fact all odds below 1.5 are low for me as I prefer valuebets.

Nothing at all, if luck will not permit then even how sure you think you are the outcome will not be turning to direction that you expect it to be, it's really hard to predict every games outcome even during live events where the team or player you pick already have a good advantage but if shit happened, you will still go to lose your bet.

That's exactly what happens with this high bet, taking 99.09 percent winning chance, but the outcome did not please the player.

Negotiation

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Yes it is possible to avoid risk if one knows well about gambling before starting gambling. Many people get greedy and lose everything because they don't risk money you have to start the game with small bets first. If you start with big bad you are more likely to lose in the first round it will disappoint you. So start playing with small amount of bets first and choose a good quality casino platform which is very reliable.

Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 11. (Read 8226 times)