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Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 16. (Read 6572 times)

hero member
Activity: 1022
Merit: 667
While anyone can do whatever they want with their money at the same time I doubt this was just spare change for this gambler, think about it, even if that person had 14 million on the bank losing 1.4 million is the equivalent of losing 10% of his capital in under an hour, if an investor or a trader was losing that amount of money they will be in complete panic, so the only way someone could consider that amount spare change is if they had more than 100 million dollars, and the amount of people that have that money are very limited around the world.
Although some speculate he is a billionaire but of course he will be disappointed from the result of the bet, no one will be willing to accept that gambling loss because he has predicted high odds of winning but his prediction is wrong and he has to lose the highest betting balance, so we can conclude this case that don't bet high because slot betting and sports betting no one can predict accurately.
The fact is that being a billionaire does not justify extravagant spending such as this one, and if you have been involved in the discussion from the first page you saw diverse options and stands of others if they were in the gambler's shoes.

-But at this point, the highest we can do is to learn from the gambler's mistake and never to trust the odds no matter how sure their look, and don't gamble what you can not lose, we may have to stop comparing our little steps to other 100 steps, we are not on the same level of financial access.
legendary
Activity: 2520
Merit: 1721
Rollbit.com | Crypto Futures
I agree with this since those who are rich have a stable source of income through their businesses. They have steady cash flow that their own money, when played in gambling then loses, has no significant effect on their wealth. They are just there trying to increase their wealth and if they don't achieve it, then they basically doesn't lose that much. Also, I think those rich people have their own stories of success and defeat, and these experiences would be valuable for them to make decisions in regards to their gambling decisions.
A stable source of income will indeed be a support in everything, including gambling. Those who are rich not because of gambling at first certainly only put a little money (a lot according to us) into gambling, such as putting around hundreds or even millions of dollars, even though it is only a small part of their wealth.

Losing will not be a problem for them, because the allocation for gambling is already determined.
Rich people usually gamble for fun or at the same time increase their wealth by starting gambling and trying to reach the Jackpot.

It is important that anyone should take care of their psychology, and not be tempted to keep putting money into gambling when they always lose.
It will consume however much money you have, there must be full control of the money that will be used for gambling.
legendary
Activity: 2954
Merit: 1159
I am beginning to fan this discussion interesting and as a matter of fact, some points are beginning to spring up from this discussion as the above-quoted comments have pointed out, it is no longer about the loss any more, but now the discussion is shifting to the personality of the parties involve and they class im the society.
The gambler who lost 1.4 million in a bet is passive to be a rich guy, and those blaming ara are seen to be doing so because they are not rich so they would know the worth of the money to the gambler, this is quite interesting.

For sure, anyone making a bet with 1.4 Million USD would not be a poor person in any case. However, it worth to know how much total wealth that gambler have because if he had only that much amount and he risked everything in that bat, he has definitely done the wrong thing. However, suppose a person have 10 million USD or 20 million USD and then he can risk 1 Million USD to make a bet and try his luck.

Most of the people here are like me, who have never seen 1 million dollars and therefore we find it strange that how a person can spent that much money in gambling but we forget that for the rich people, this is just an ordinary amount.
hero member
Activity: 882
Merit: 507
It really makes us jealous to see that rich people can use their money whenever they want and for whatever they want. Even sometimes, they use the money to achieve their goals. But it could be that someone with a lot of money is confused about how he can use the money, so he plays gambling just to reduce the amount. I'm wondering if it has something to do with his gambling taxes or income tax if he spends a lot of money gambling or if he wants to get a break to pay his income taxes because he's already lost at gambling. That just crossed my mind, especially when famous people also lose money at the gambling table.
Yeah, they are free to decide where to spare their extra money unlike with ordinary people who are just relying with their salaries they are not capable in sparing money into gambling while rich people can some of them are good in making more money out from this industry, whales are a good example where rich people can continue making money while enjoying.

In some sense, there are also some rich people who fail and suffer from a big mistake that happened in their life.

I agree with this since those who are rich have a stable source of income through their businesses. They have steady cash flow that their own money, when played in gambling then loses, has no significant effect on their wealth. They are just there trying to increase their wealth and if they don't achieve it, then they basically doesn't lose that much. Also, I think those rich people have their own stories of success and defeat, and these experiences would be valuable for them to make decisions in regards to their gambling decisions.
I am beginning to fan this discussion interesting and as a matter of fact, some points are beginning to spring up from this discussion as the above-quoted comments have pointed out, it is no longer about the loss any more, but now the discussion is shifting to the personality of the parties involve and they class im the society.
The gambler who lost 1.4 million in a bet is passive to be a rich guy, and those blaming ara are seen to be doing so because they are not rich so they would know the worth of the money to the gambler, this is quite interesting.
sr. member
Activity: 1848
Merit: 370
It really makes us jealous to see that rich people can use their money whenever they want and for whatever they want. Even sometimes, they use the money to achieve their goals. But it could be that someone with a lot of money is confused about how he can use the money, so he plays gambling just to reduce the amount. I'm wondering if it has something to do with his gambling taxes or income tax if he spends a lot of money gambling or if he wants to get a break to pay his income taxes because he's already lost at gambling. That just crossed my mind, especially when famous people also lose money at the gambling table.
Yeah, they are free to decide where to spare their extra money unlike with ordinary people who are just relying with their salaries they are not capable in sparing money into gambling while rich people can some of them are good in making more money out from this industry, whales are a good example where rich people can continue making money while enjoying.

In some sense, there are also some rich people who fail and suffer from a big mistake that happened in their life.

I agree with this since those who are rich have a stable source of income through their businesses. They have steady cash flow that their own money, when played in gambling then loses, has no significant effect on their wealth. They are just there trying to increase their wealth and if they don't achieve it, then they basically doesn't lose that much. Also, I think those rich people have their own stories of success and defeat, and these experiences would be valuable for them to make decisions in regards to their gambling decisions.
legendary
Activity: 2996
Merit: 1053
Leading Crypto Sports Betting & Casino Platform
The amount he risked gambling is ridiculous, honestly I can't do what he did. With 1.4M$ bett I can live a simple life to be honest.
I already have a nice house and lot, a nice car and businesses and lands that can be turned into farms. To him it's like nothing and he is not affected if he loses. It seems that he really knows what risk he is taking.
Those of us who are just little gamblers really can't do what he's doing because it involves a lot of money. And we can live simply and honestly with that much money and maybe we can also have a new business and develop it to improve it.

And we can only dream of having that kind of money. But playing gambling with small money is also okay, especially if we don't chase any wins. So we can play without any strange thoughts that can make us enjoy the gambling game more.
That is why there is always a different between a rich person and lower class. The amount for him is just a chicken change for him but for lower class citizens, that amount is too big that they can't just lost it in a gamble. There is a man in my locality that spend $3m every day. Even we that in the lower class gamblers can lose $20 and move free but for some people that $20 is a big money for them.
He has already gotten enough money so for using that big amount to gamble, he knows how it is and what it is. So we are just disturbing ourselves for nothing. Someone that has enough money can spend it the way he wants.
It really makes us jealous to see that rich people can use their money whenever they want and for whatever they want. Even sometimes, they use the money to achieve their goals. But it could be that someone with a lot of money is confused about how he can use the money, so he plays gambling just to reduce the amount. I'm wondering if it has something to do with his gambling taxes or income tax if he spends a lot of money gambling or if he wants to get a break to pay his income taxes because he's already lost at gambling. That just crossed my mind, especially when famous people also lose money at the gambling table.

Yeah, they are free to decide where to spare their extra money unlike with ordinary people who are just relying with their salaries they are not capable in sparing money into gambling while rich people can some of them are good in making more money out from this industry, whales are a good example where rich people can continue making money while enjoying.

In some sense, there are also some rich people who fail and suffer from a big mistake that happened in their life.
legendary
Activity: 3038
Merit: 1100
Leading Crypto Sports Betting & Casino Platform
This is, not the first time someone is losing a big amount t to gambling, I have heard the history of others who sold their houses and cars and all gambled them away, this is a normal case of gambling addiction and we should get used to seeing such big lose from time to time.
This could be as a result of gambling addiction that might have eaten up some gamblers mindset in believing that they are supposed to do everything in there best to make sure that they win a bet without considering the risks that could be attached to that kind of gambling. We need to be wise so that we are not going to fall in such a big trouble of losing that kind money that could make us go to jail if it was not our money. The risk is gambling unnecessarily may not be visible to us until we are in it and see the result ourselves.
But here one thing may be different. If you think about it, the person who bet 1.4 million USD is not an ordinary gambler. Moreover, a new gambler will never want to take such a big risk. In that case I would say that he took the right decision but there his luck failed him. Those who can bet such a large amount must have a lot of money with which to recover the money lost through gambling again later. Since the person is unknown, the matter remains a mystery. But I don't agree to call this bet happen for an addiction.

I am not a professional bettor, but I have been following advice, tips and news from professional bettors, and there is a basic rule that is agreed by most professional and amateur bettors:

- bets with odds of @1.50 or less will never be profitable in the long term

- betting on games with odds of @1.50 or less is a serious mistake that any bettor should not make

the person can test: bet on 10 games with odds of @1.50 or less, the person will see that even having many victories it will not be worth it because just having 2 or 3 defeats already puts all the victories as if the person had not even won, now if odds of @1.50 are low, imagine odds of @1.01? It's simply shocking to know that it took someone $1,400 million to bet on a game that has odds @1.01, a real gambler wouldn't do that. I even prefer to think that the person failed at the time of betting

but tell me that the guy didn't fail when betting and that his intention was to bet 1,400 million dollars in a game with odds of @1.01? honestly what was this guy thinking when doing this kind of thing? Is something unbelievable
hero member
Activity: 1330
Merit: 585
Leading Crypto Sports Betting & Casino Platform
While anyone can do whatever they want with their money at the same time I doubt this was just spare change for this gambler, think about it, even if that person had 14 million on the bank losing 1.4 million is the equivalent of losing 10% of his capital in under an hour, if an investor or a trader was losing that amount of money they will be in complete panic, so the only way someone could consider that amount spare change is if they had more than 100 million dollars, and the amount of people that have that money are very limited around the world.
Although some speculate he is a billionaire but of course he will be disappointed from the result of the bet, no one will be willing to accept that gambling loss because he has predicted high odds of winning but his prediction is wrong and he has to lose the highest betting balance, so we can draw conclusions from this case that don't bet high because slot betting and sports betting no one can predict accurately.
who will be not disappointed losing million dollars lol, specially in single bet? maybe they can afford losing a million willingly if this happens for the whole day but for single betting even the richest man in the world will hurt here.
but losing this big? for us this will be our entire life asset and means losing our life lol.
anyway, $ 1 million is a very large value and no matter how rich a gambler is, if he loses so much money in a very fast manner, surely the disappointment will always be felt every day.
but in this case it was a very valuable lesson for the man and will become a story in old age when he tells his grandson who became a gambler lost big and this man can tell anyone about his defeat to be more careful every time he bets in any type of gambling. maybe everyone has experienced something similar, losing a lot of money in less than an hour at gambling, but surely for the long term they will be more careful in betting, always consider before placing their money in bets.
member
Activity: 182
Merit: 66
Don Pedro Dinero alt account
Although some speculate he is a billionaire but of course he will be disappointed from the result of the bet, no one will be willing to accept that gambling loss because he has predicted high odds of winning but his prediction is wrong and he has to lose the highest betting balance, so we can draw conclusions from this case that don't bet high because slot betting and sports betting no one can predict accurately.
who will be not disappointed losing million dollars lol, specially in single bet? maybe they can afford losing a million willingly if this happens for the whole day but for single betting even the richest man in the world will hurt here.
but losing this big? for us this will be our entire life asset and means losing our life lol.

You don't want to know it seems. Do you have 1.4 million to gamble away in one bet?  A person who has that amount to gamble is likely to have a net worth of hundreds or thousands of times that amount. So for him to lose 1.4 million is like for others to lose 14 £. Making an equivalence with the odds would be like betting £14 with odds so low that winning only gives you a penny profit. And you lose, lmao.
full member
Activity: 2492
Merit: 212
Eloncoin.org - Mars, here we come!
While anyone can do whatever they want with their money at the same time I doubt this was just spare change for this gambler, think about it, even if that person had 14 million on the bank losing 1.4 million is the equivalent of losing 10% of his capital in under an hour, if an investor or a trader was losing that amount of money they will be in complete panic, so the only way someone could consider that amount spare change is if they had more than 100 million dollars, and the amount of people that have that money are very limited around the world.
Although some speculate he is a billionaire but of course he will be disappointed from the result of the bet, no one will be willing to accept that gambling loss because he has predicted high odds of winning but his prediction is wrong and he has to lose the highest betting balance, so we can draw conclusions from this case that don't bet high because slot betting and sports betting no one can predict accurately.
who will be not disappointed losing million dollars lol, specially in single bet? maybe they can afford losing a million willingly if this happens for the whole day but for single betting even the richest man in the world will hurt here.
but losing this big? for us this will be our entire life asset and means losing our life lol.
hero member
Activity: 2856
Merit: 541
Leading Crypto Sports Betting & Casino Platform
The amount he risked gambling is ridiculous, honestly I can't do what he did. With 1.4M$ bett I can live a simple life to be honest.
I already have a nice house and lot, a nice car and businesses and lands that can be turned into farms. To him it's like nothing and he is not affected if he loses. It seems that he really knows what risk he is taking.
Those of us who are just little gamblers really can't do what he's doing because it involves a lot of money. And we can live simply and honestly with that much money and maybe we can also have a new business and develop it to improve it.

And we can only dream of having that kind of money. But playing gambling with small money is also okay, especially if we don't chase any wins. So we can play without any strange thoughts that can make us enjoy the gambling game more.
That is why there is always a different between a rich person and lower class. The amount for him is just a chicken change for him but for lower class citizens, that amount is too big that they can't just lost it in a gamble. There is a man in my locality that spend $3m every day. Even we that in the lower class gamblers can lose $20 and move free but for some people that $20 is a big money for them.
He has already gotten enough money so for using that big amount to gamble, he knows how it is and what it is. So we are just disturbing ourselves for nothing. Someone that has enough money can spend it the way he wants.
It really makes us jealous to see that rich people can use their money whenever they want and for whatever they want. Even sometimes, they use the money to achieve their goals. But it could be that someone with a lot of money is confused about how he can use the money, so he plays gambling just to reduce the amount. I'm wondering if it has something to do with his gambling taxes or income tax if he spends a lot of money gambling or if he wants to get a break to pay his income taxes because he's already lost at gambling. That just crossed my mind, especially when famous people also lose money at the gambling table.
hero member
Activity: 1414
Merit: 504
Leading Crypto Sports Betting & Casino Platform
Those of us who are just little gamblers really can't do what he's doing because it involves a lot of money. And we can live simply and honestly with that much money and maybe we can also have a new business and develop it to improve it.

And we can only dream of having that kind of money. But playing gambling with small money is also okay, especially if we don't chase any wins. So we can play without any strange thoughts that can make us enjoy the gambling game more.
That is why there is always a different between a rich person and lower class. The amount for him is just a chicken change for him but for lower class citizens, that amount is too big that they can't just lost it in a gamble. There is a man in my locality that spend $3m every day. Even we that in the lower class gamblers can lose $20 and move free but for some people that $20 is a big money for them.
He has already gotten enough money so for using that big amount to gamble, he knows how it is and what it is. So we are just disturbing ourselves for nothing. Someone that has enough money can spend it the way he wants.
While anyone can do whatever they want with their money at the same time I doubt this was just spare change for this gambler, think about it, even if that person had 14 million on the bank losing 1.4 million is the equivalent of losing 10% of his capital in under an hour, if an investor or a trader was losing that amount of money they will be in complete panic, so the only way someone could consider that amount spare change is if they had more than 100 million dollars, and the amount of people that have that money are very limited around the world.
But I think like you said if the guy had 14 million dollars in his savings and lost 1.4 million dollars on the bet back then I don't think he would have felt the loss.
Because I know that he made 14 million dollars, it means he has a business or business that makes money fast.
So that when he loses 1.4 million dollars he will not feel like he has lost what he has done.
Even though he will definitely feel regret, but not for too long.
legendary
Activity: 2548
Merit: 1009
Leading Crypto Sports Betting & Casino Platform
~snip~
Although some speculate he is a billionaire but of course he will be disappointed from the result of the bet, no one will be willing to accept that gambling loss because he has predicted high odds of winning but his prediction is wrong and he has to lose the highest betting balance, so we can draw conclusions from this case that don't bet high because slot betting and sports betting no one can predict accurately.

Logically, when we lose in a betting session, the feeling of disappointment will always be there and is very natural for gamblers to experience. Well, how about someone who lost a bet with a capital of $1.4 million. disappointed, maybe, because after all the fact that he lost his bet. but for sure, we don't really know it. is he a billionaire, or how rich is that gambler.

There are many theories that we have discussed so far, ranging from speculation, assumptions, some even say that this story is fabricated. supposing that's true, then the link that the OP shared as material from the topic of this thread is very doubtful of its credibility. in fact, no one has been able to prove that the story was fabricated. after all, actually the essence of the story of this thread is the message that the OP conveyed, that we can get lessons from the news link. plus informing and making us aware, that there are no easy bets! even lower odds there is always a risk.
legendary
Activity: 1764
Merit: 2032
The Alliance Of Bitcointalk Translators - ENG>SPA
-snip-
You are probably right that it is very easy to find people losing that big amounts these days, especially millionaire celebrities, etc. I remember reading a news recently where the pop star and official partner of Stake.com had lost a bet amounting more than $250k on a boxing match, and I read that he had lost many such bets, some even higher than $400k.

So it is probably true that millionaires that can afford to lose such amounts wouldn't bother or think twice before placing such bets, they also win at times but only the lost bets are surpassed and the general public would barely see the wins.
Yes, that's it. Although it is still possible what the other member I quoted in my last post was right (an orchestrated or fabricated news) it is not such a surprising thing to be sure about being fake.

In fact, compared to the bet of 250k you mentioned, a 1.01 odds bet seems more safer (maybe not to bet 1.4 millions, but who knows what people like these have in mind).
hero member
Activity: 2282
Merit: 589
While anyone can do whatever they want with their money at the same time I doubt this was just spare change for this gambler, think about it, even if that person had 14 million on the bank losing 1.4 million is the equivalent of losing 10% of his capital in under an hour, if an investor or a trader was losing that amount of money they will be in complete panic, so the only way someone could consider that amount spare change is if they had more than 100 million dollars, and the amount of people that have that money are very limited around the world.
Although some speculate he is a billionaire but of course he will be disappointed from the result of the bet, no one will be willing to accept that gambling loss because he has predicted high odds of winning but his prediction is wrong and he has to lose the highest betting balance, so we can draw conclusions from this case that don't bet high because slot betting and sports betting no one can predict accurately.
member
Activity: 742
Merit: 12
Global peace initiative
The ops in question will be in a regrettable mode right now because, with such loss he must be watched closely to avoid committing suicide, this is because he must be in big debt right now or even if he is an extremely rich man he will have lost a good amount out of his wealth already sorry for the ops.
legendary
Activity: 2492
Merit: 1332
Those of us who are just little gamblers really can't do what he's doing because it involves a lot of money. And we can live simply and honestly with that much money and maybe we can also have a new business and develop it to improve it.

And we can only dream of having that kind of money. But playing gambling with small money is also okay, especially if we don't chase any wins. So we can play without any strange thoughts that can make us enjoy the gambling game more.
That is why there is always a different between a rich person and lower class. The amount for him is just a chicken change for him but for lower class citizens, that amount is too big that they can't just lost it in a gamble. There is a man in my locality that spend $3m every day. Even we that in the lower class gamblers can lose $20 and move free but for some people that $20 is a big money for them.
He has already gotten enough money so for using that big amount to gamble, he knows how it is and what it is. So we are just disturbing ourselves for nothing. Someone that has enough money can spend it the way he wants.
While anyone can do whatever they want with their money at the same time I doubt this was just spare change for this gambler, think about it, even if that person had 14 million on the bank losing 1.4 million is the equivalent of losing 10% of his capital in under an hour, if an investor or a trader was losing that amount of money they will be in complete panic, so the only way someone could consider that amount spare change is if they had more than 100 million dollars, and the amount of people that have that money are very limited around the world.
hero member
Activity: 700
Merit: 577
Eloncoin.org - Mars, here we come!
The amount he risked gambling is ridiculous, honestly I can't do what he did. With 1.4M$ bett I can live a simple life to be honest.
I already have a nice house and lot, a nice car and businesses and lands that can be turned into farms. To him it's like nothing and he is not affected if he loses. It seems that he really knows what risk he is taking.
Those of us who are just little gamblers really can't do what he's doing because it involves a lot of money. And we can live simply and honestly with that much money and maybe we can also have a new business and develop it to improve it.

And we can only dream of having that kind of money. But playing gambling with small money is also okay, especially if we don't chase any wins. So we can play without any strange thoughts that can make us enjoy the gambling game more.
That is why there is always a different between a rich person and lower class. The amount for him is just a chicken change for him but for lower class citizens, that amount is too big that they can't just lost it in a gamble. There is a man in my locality that spend $3m every day. Even we that in the lower class gamblers can lose $20 and move free but for some people that $20 is a big money for them.
He has already gotten enough money so for using that big amount to gamble, he knows how it is and what it is. So we are just disturbing ourselves for nothing. Someone that has enough money can spend it the way he wants.
hero member
Activity: 3080
Merit: 970
www.Crypto.Games: Multiple coins, multiple games
There will never be a gambler who can have a win rate of up to 99% if there is just luck and you can't get it every time.
Gamblers always have a level of losses not wins because in gambling winnings can only be owned by the dealer, not a gambler.
What the heck are you talking about? It is possible to gamble with a 99% win rate in games like dice, blackjack, baccarat etc where the house edge is 1% or lower. You clearly misunderstood what I stated.

To him it's like nothing and he is not affected if he loses. It seems that he really knows what risk he is taking.
How are you so sure that he wasn't affected by the loss? That may or may not be the case.
hero member
Activity: 812
Merit: 626
Agree with this, because of course as gamblers we also definitely understand what loss is and good financial management so that when talking about big bets, there are definitely a number of things to consider and it could be the result of previous profits or indeed the money that he has set aside for fun even though it is a large nominal but when he is able to earn more than that then indeed it will not mean anything.
I take the example of the drake in this regard, because indeed he also always makes big and quite astonishing gambles, but with the income he earns that kind of money is nothing to him even though for us it could even sustain the life of several generations.
And sometimes, I really do agree that life, truly is unfair, look at the amount of money individuals gamble away, meanwhile, in several parts of the world, there are many people that can not afford 2 square meal per day not to talk of three which is the approved standard.

Not me saying people shouldn't spend their hard earned money in a way or things that makes them happy, but then, I just can't take my mind off the less privileged people, when ever I see money being wasted.
In this case I think the context is very different even though what you said is true by not wasting what we have with our money and having to look at people who are even less fortunate out there who have a much more difficult life. But on the other hand when those who really gamble with big money also cannot be blamed because it is also their right.
I think when conditions like this all have empathy, obviously there must be but we also cannot change attitudes and characteristics because indeed in things like this people are free to do anything with what they have as for people out there who are not able to even eat them confused we can also help them if we can do that but we also cannot change the conditions because inequality like this will not be changed at any time.
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