Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 17. (Read 8226 times)

as I said before that the odds are low or like 1.01 it does look convincing but there is no guarantee whatsoever for a win.
maybe it's true what you say that the guy bet over $1 million seeing low odds 1.01 which looks like 99% win but in reality what he got was not 99% but 1% loss lost all his money. very sad.

this uncertainty at low odds teaches us to always not trust low odds but trust our own predictions more and of course keep using money we can afford to lose.

Always expect the unexpected and don't be too confident, that's the lesson of this story. If you can afford to gamble such millions in 1 bet, so be it. But if you did that just because you're certain you'll win then that's the problem.

It's gambling and the result is not guaranteed to be in your favor. Hence if you can't bear losing the money you used to gamble then it is your fault for being too confident just because the odds are low.

If sorting all the available games to get bigger opportunities it will be difficult to do because there are lots of games that you have to try and it definitely takes a long time to finish them, moreover the winning chances of each game will change every time so it's impossible to sort it.
What I mean is with the strategy of using not just one bet but more than one bet so that when a gambler loses on one bet they still have a chance to win on another bet which might be able to recover losses from bets that were previously lost.
How to bet like this is very rarely realized by most gamblers, friends, even you yourself don't seem to really understand what I mean.
Yes, a good strategy if it goes against my luck, the result will be in vain, but at least we as gamblers have tried our best to get this advantage.

Even we can experience bets with lower odds losing unexpected. In Miami Open final got to see Sinner leading the first set with a break point and the odds got low on live betting. What happened at the end Medvedev won the set. This happens with every sports and in all means we should be accompanied by luck which could bring win even when we place @5 or even higher odds. I've experienced @10 odds win in sports betting where the bet amount is just $10.

What I don't understand is why people bet on games where the odds are very low, I know that low odds mean there's a high probability of winning, but in this gambling market, people need to understand a very important rule: it doesn't matter if the odd is low or high in any of the scenarios there is a risk of losing money, but there is also another difference which consists of the following: when a person bets on a game with a high odd, something like a game with odds of more than @2.00 this person when he wins has 2 more opportunities to make a bet again

with that, that person has two more chances to play and hit and increase the bankroll value and in the long term keep profits in exchange for taking high risk, this is because games where the odds are at @ 2.00 or more are difficult games to predict As a result, they force the person to have to know the teams well so that he can guess who will win, but when the person is betting on games with odds of less than @2.00 in single bets, then that person will not make a profit in the long term, that person it will go bankrupt, it will lose all its bankroll, it is doomed to failure, the person can even take a test that will reach the same conclusion I am saying

unfortunately many people have used this method of placing bets with low odds, they believe that they only need to have many wins and few losses to make a profit, but when you look at how much you have in your bank vs the number of wins, the person is faced with something terrifying, there are many wins but the bank value is not increasing so it's worth continuing to bet

Well the bet which has the odd of 1.01 seems to be an easily predictable bet as the casino and bookmakers give this odd to the bet which has the highest probability of winning.  The bookmakers know the team is strongest and 99% of the gamblers will bet on it, so they keep the odd to the lowest value.
However, in the match, nothing is certain and one in a thousand times the strongest contest (team can lose too and we call it an upset. If this happens, all 99% of the gamblers on bet with 1.01 lose their money. Also with low odds, gamblers are expected to bet with a larger amount of money as they know the loss probability is low.

That's right, having even that 1.01 odd doesn't mean that it's a lesser risk or a safe bet because the risk remains and sticks to the bet. Or could arguably say that the risk is less and quite being comfy with the possible outcome based on the given odd. It just changes the mood entirely because of the amount of bet that's being made by this guy. By the time that he's bet with that odd, he's unlucky that he's got beaten and lost it.

I have not really heard of that concept you mentioned as (up set) it look strange and new to me, I don't mind if you can explain the concept to me further to see if I will be interested in applying it to my gambling tactics because learning never stop and to avoid over losing in bets one need to employ all the possible options that would aid their winning.

-Gambling is not a joke and is not a game to the gullible unless they sign up to lose everything, but as a good gambler, one must take note of all the possibilities that will support your winning at the end to avoid running bankruptcy due to continues loses.

And this is where people should really be realizing this because if they would really be having that kind of behavior on going all in into those almost one sided game then for sure in no time they would really be wrekt out by gambling totally and ending up on sleeping on the streets because on having no more money to be spend.Gambling does involved risks no matter what and we do know that we do have something that called "Upset"
which is always been possible for a certain game.This is where gamblers should always be considerate but of course we are doing gambling in the first place which its impossible
that we dont know on what are those probabilities.

I agree with that as must bets rely heavily on luck and even if the odds seams to be sure, it's still not a guarantee for winning so there is a couple of things that contribute to how one wins a bet and luck is at the centre of it all.


-even with the best analysis one can still lose the bets so in betting we can create a formula such as Analysis+luck=win and also vis-vassal.

Analysis or AI, it wont matter much specially on dealing with games that are relying purely in luck but in speaking about sports betting and really be having that kind of use case on searching up information on a particular thing then i could say that it would really be that helpful.This is depending on how you would really be making use of these AI for your advantage but dont ever tend to believe into yourself that this one
would really be that something you can depend or rely on.

In the situation about betting all in even the odds are too low, it wont be always not assuring that you would be able to have that 100% sure win type of bet.There's always
a risks into it.

We can actually make gambling something fun entertainment. Yes, instant entertainment in the middle of a busy routine after work. We can make gambling entertainment for relaxation, just to spend the remaining free time. but don't forget, that gambling is very risky. therefore, we must limit each gambling session. yes, back to our intention. that gambling is just for fun. So, don't use it as land to earn extra income. the point is, not to chase high wins.

IMO, gambling doesn't have to be for those who have mental steel and it's not a matter of whether or not they dare to take risks. especially if you refer to what you said, that living life also has risks. I think it all depends on each individual, depending on how they see gambling itself.
But what are you saying, there's nothing wrong with that. because you have the right to have an opinion. back to the topic of this thread. maybe, what you're saying, applies to gamblers who lose $1.4 million in betting sessions. yes, he dared to take risks from his fantastic bets, regardless of the defeat he got.

AI can perform analysis on the team performances but what is the likelihood that AI will make the right analyses that could aid our luck in the bet, I have not really been a fan of AI but then its popularity is growing and some gamblers are already suggesting it into gambling.

-The reality is that we may conduct whatever analyses we want but some time we fail in our analysis and other time we may make accurate analyses regardless whetherof  we use our instinct or AI.

If we are too emotional in betting then it is better to ask AI to decide which team will win.  At least AI can perform a data analysis that can make sense while if we bet emotionally, we might be betting blindly.



I highly agree, this is the variable that can change the course of the game.  Just like when a player is 100% sure to hit a goal since he is very open and the goal is undefended but somehow missed it because the ball goes the other way around upon kicking it, that is what we called variables that can change the course of the play and often refer as the kind of luck.

It is true that each person has their own standards about how much money is too much to gamble away, but we must admit too that there are some people out there with standards that are incredibly high, since 14k is an amount that is very high all around the world and many people on the first world will flinch if they were to see someone gambling so much money away right in front of them, as they know very well how much time it would take them to make that kind money.

That is the experience of most of us here, being overly emotional while selecting our bets makes us choose the wrong choice and most times multiple bets always lead to losing because one single game can destroy the rest of the ticket.

-But then luck still has its place in all of this, since even if you select only one game there is still a chance you will lose if the luck is not there.

You are right that one should determine their betting limit and evaluate the odds and everything, but those high rollers don't really care much about that. A couple of days ago, I saw a high roller in Stake playing a game with a base bet of over $14,000. It might not be a very big amount for some but for the general public, it's a lot of money.

So it basically depends on one's mindset and bankrolls too if what they consider to be an amount they can afford to lose. Maybe a base bet of $100 isn't a lot for me, but somewhere out there, it can be an amount one can use for a whole month.

Exactly! Many user here always mix investment with gambling. I want to only emphasize that even investment doesn’t guarantee safety or no risk at all. Any form of  tools that intended to earn always have a cons that can possibly lose the money even with investment or gambling because they are just same that contain risk.

There’s no technical safe bet. You can only categorize bet as safe base on your own personal perspective towards the amount but using the real definition of the word safe. All bets is risky as the word imply on the bet.

We all know that gambling has all the risks, not only gambling but living life also has risks and everyone who decides to start gambling must accept all the risks that exist even if it is the risk of having to lose money.
When someone does not want to take risks and is afraid of losing money, it is better to stay away from gambling and never think about gambling.
In fact, gambling is only for those who are mentally steel and dare to take risks when betting.

That's a different gambling since it is safe as they have claimed. If it is a gambling that is not safe then that's more likely on casinos or sportsbooks. I am sure you guys know different types of gambling such as playing games and investment. It is what gambling is for, it's either you are willing to take risk or not. I have something to say about safe bet which is not really safe at all since investment could also result in profit loss if what you invested is not successful (like stock price - price decrease).