that aware of the chances or probabilities so that you wouldnt be ending up on regretting just because you had just neglect this one out. 1.01 or below it doesnt matter because if you are really that unlucky
you would definitely lose a certain bet.You cant really make out that sure win no matter what.This is why always bet on the amount which you can really afford to lose.
Dont get yourself that too confident no matter how small the chance of losing would be.
Manage your finances and make sure to have a good bankroll management else, you will lose a lot with this activity, same with you, I follow that statement regarding to luck factor even how high the chances of winning if luck will not be on your side you can still lose just the same thing that happen to OP's story.
That hug money that the gambler place for a huge amount of winning chances go to the otherside and let him lose his money.
Things that can happen to everyone if luck will not permits you to win the game.