Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 2. (Read 6572 times)

why it is not about luck? gambling always depend on luck. $1.4M Hughes is an amount that can last 2-3 families in my country for a lifetime. It is unbelievable how a person can place such a big bet there  It must have caused a huge financial loss to that person. no amount should be used in gambling which would seriously injure him  And since he made such a bet, he must take responsibility for it. His luck was so bad that he made a loss where he had 100% confidence to win with 1.01 Odd.

I dont think this is about luck in this case. This is not about being greedy either. This is pure stupidity. If he as greedy, he would have searched for something with better odds. Or tried to double those $1.4M. If it was about luck, he could have taken $11k and placed somewhere with 50/50 win chance. But no, that person has decided just to waste his $1.4M. With $1.4M there are plenty of ways to win $11k. That persons has chosen the most ridiculous way to use them.

I agree with all manners of ugly words you can credit this guy with, it is so absurd and annoying to say a few. I must say I missed this folly in this particular thread of the forum as it is good to always see it so that it will be a reminder to people that they could be so foolish in gambling if care is not taken. Imagine, for just 0.008 profits, you wasted $1.4 million dollars, that's ridiculous and shows that the guy is even reckless with that because he believes too much in himself, and overconfidence has never been a good characteristic in the long run. No matter how rich you are, if $1.4m is removed from your fortunes in such a foolish manner, that can never be comfortable at all especially when it is not where you need to spend it judiciously because you might want to channel such an amount of money to a better use other than what you were forced to lose it in due to your folly.

Gambling is not an investment, we should be careful of how we approach it and how we manage ourselves towards it. The money to be gambled must also be carefully thought about whether it is worth it or not, and even the risks we are about to take it with. And with my calculation, this guy was aiming to gain just $11,200 with a whopping sum of $1.4m risk. This is just too foolish to comprehend.

Anyone who's greedy enough would do that and I feel bad for him because his luck was totally down that day and when someone's luck isn't in their favor then such losses take place.

It's gambling and in gambling luck plays a very important role, if someone is lucky he can win 1.5 to 2 odd bets while the unlucky ones like the guy can lose bets with so low odds.

In order to earn just $11k he has lost $1.4M what a unlucky fellow. If he had invested that money into Bitcoin then he may had earned way more profit than $11k.

I can say only one thing - the person that made 1.008 bet is very stupid. Risking such a huge amount of money 11 thousands is stupid. No other words can precisely describe his action. This isnt being reckless, this isnt being greed or addicted. This is being stupid. What I mean is, you have more than a million, why risk so much just to win 11 thousands. 11 thousands is a lot of money, but those who operate with millions, must know less risky methods to earn 11 thousands.

“In your view”. But that amount of money is probably what he can afford to lose. Besides you will not deposit huge amount of money in a casino if that’s all you have even if you bet it on the most safe bet.

There’s a chance too that he already win a lot using this strategy before he finally loss on this specific bet since there’s no information about the stats of this player aside from this loss bet slip. But again, it’s not us to decide for that money if it should be use for gambling or not because that’s not our own money.

        -   Oh my goodness, that's a very huge amount of money. If I had that much money, I wouldn't gamble that amount. That's really crazy, man. As far as I can see, that person is rich, and it could be just a coin to him, but at least he regrets it because he lost, or lost, not a small amount.

I just hope he doesn't get stressed or depressed about what that gambler is going through; if I were the one who lost that amount, I wouldn't be able to sleep well for a few days for sure.

In my view that much money should never be used on a gambling platform again the odds are 1.1 that the person has used that much money to gamble. One should always use own money on the gambling platform so that there is no worry or emotional trauma if the money is lost. 1.4 million dollars which sounds like a huge amount to me. Even if I ever own a lot of money, I will never spend that much money on a gambling platform because I take gambling as entertainment and will budget very little for it. I never support such betting I support those who participate in betting with small amount of money and have fun.

I wonder if someone who has that amount to spend in gambling is an idiot to begin with, it is not that easy to find such people. I mean, idiots in the intellectual sense, not in personality or traits - those are aplenty. But anyway, that sum may not be much for some of the people out there. For a billionaire that is like a drop in the ocean and may not be enough to even feel any thrill about it.

I do agree up into this word on which as long the odds or chance is there then there would really be that possibility on losing up the bet and this is something inevitable. There's no such thing about zero chance of losing because if there's one then it isnt gambling at all because you arent risking into something and if its zero chance of losing then as said that its not gambling. If you are really that betting on having those millions then it is your risks to take on which you do know on what much you could potentially lost if that less 1% chance of losing will be able to hit up. I cant even blame considering that the odds is really that something that could push you to bet but im not really that confident on putting up a million even if i do have the money. 
Chance is chance and you cant be able to assure whether you would be able to hit it up or not.

There's no such thing about safe because even if the odds is about 1.01 or lesser as long the chances arent that zero then there's no way that you would really be having that 100% winning guarantee.

You are really that too risking millions without considering about the potential risks that you could really be able to face out and this is something that you should really be that careful or mindful.
It might be looking like a sure win but its not on which you would really be finding yourself that having that self sure feeling that you can be able to win up the bet and this is why you are really that confident
that you could be able to win up but when luck isnt on your side no matter how small the odds are. You would definitely lose that one.

Always bare in mind that as long chances arent 0% there's always the probability that it could really happen and this is something that you do realize so that you wont
be that ending up on having that kind of results or outcomes into your gambling bets. If you bet that big then it would be impossible that you wont really be able
to realize on what are the probability for losing such huge money.

Football is unpredictable, speaking as someone that's into soccer betting...no matter how small the odds are, there's nothing safe
At the end of the day it's better you play a significant odd like 2 to 3 odds for more value and staking what you can afford to lose
Even if u get it wrong with proper analysis you can get  your money back within two or three days
If you know what you are doing, out of 7 times a week you can get it right for four days
Four days should give u profit in a week... another option is short football on paripesa or 1xbet... getting small odds are not as hard as real  soccer

Yes, and when betting, we must understand this and cannot just look at the opportunities that exist, but must also consider the risks that can occur because gambling is something where there is no certainty whether we can win or lose.
Yes, the op is innocent because he is only looking for a win at low odds with a larger bet amount because if the bet used is relatively small, the profit you get will not be worth the risk.
The domain of every gambler will be different, of course, so we must have our own awareness and stick to our beliefs when betting.

Do you doubt the performance of the casino?
Casino is a business that is quite promising and there are many ways of operating it so that anything can be done easily even though there are thousands of gamblers betting there.
We don't know how they work when operating the betting feature and we also don't know what is actually being done so that anything can happen even beyond our logic as gamblers.
Whatever the opportunities and benefits that can be obtained, this is an option, so gamblers must be able to accept it.
If can't accept defeat and don't want to experience losses when gambling, then don't be a gambler but build a casino business so you can take every advantage.

Yes, we have learned a lot from ops mistakes and from the various comments we read in this thread have helped to further broaden our understanding of the entire situation but then we all should also know that where there is no risk, there won't be a reward and gambling is one hell of risk ventures at that we must expect to see more risks takers in the future regardless of what lesson this current incident may have thought us.

But the goal should be to take the minimal risk that could give a high return not to take an over-boarding risk such as this gambler took because he went too extreme in this situation to have staked 1.04 million dollars.

LoL, sure odd or overconfidence is what it is then. That was why I said he believed way too much in the team.

@wiwo, Indeed, we are also here learning from OP's mistake, but don't be surprised that some people will still take such a risk after reading others mistakes; that's just human nature, full of some deadly decisions that the results are always awful 😓 at thet time 

But there is always this saying that "you can't give more than you have." For example, if the OP had like $10 million and decided to gamble off the $1.4 million, then he probably had more to gamble with, so despite his loss, he may not be affected.

But I still always wonder how people can get so overconfident about those sure odds stuff. I do gamble, but not that heavily, and mostly on sports. Even if I get some sure odds that my friends would want me to gamble with a huge amount, after staking the amount I can afford to lose, I will still rearrange the game and change some options (I don't know if you understand what I mean by that). and still stake again so that if the sure odd did bust, the one I changed options for, sometimes doesn't burst.

Just to make out some comparison if we do speak about numbers then it would really be that no sense if you would be betting up millions just for you to earn some few dollars.I wouldnt really be having the guts or have the courage on betting up that huge on which not all people would be able to accumulate their entire life and now you do gamble it out just because you do believe its a sure win? There's no such thing about
sure win on g ambling. You cant really be able to pull off or on having that one sided game, there's always that certain risks no matter how slim it it, you wont know if you would be able to hit up.
This is what i dont really like on going all in bets no matter how small the odds is, it isnt really that worthy at all on making huge bet to get some peanuts.

1.01 or less doesnt guarantee sure win but if you do have the money which you are willing to burn then its up to you. Just dont expect much because tables could turn upside down which it would
really be resulting into your bet to be thrown into waters. $1.4M isnt an amount that you could just simply ignore and sleep that lost because it would really be surely be keeping on hunting
you out specially if this one is a pooled funds from different bettors but if its solely for you the that lessens up the problem at least.

For a person with such balance to stake with I don't think greed will have the essential part of his decision making especially in this situation where the potential winning amount is low because it's insane for someone to risk a whole 1.04 million dollars on a potential winning of 14 thousand dollars of rewards it makes no sense.

But then they did have already been done and ops lost everything in the process and we are all here learning from his mistake, and what I think affected the ops is overconfidence in the team and sure odds.

Greed, manipulation, believing way too much in the team—what else could it be?

Well, it just circles around one thing, which I think he believed way too much in and also greed in play. In every aspect of gambling, it is good for someone to also apply wisdom, like not gambling with all the money; he would have divided it into two and played the game with different options. But anyway, they say, "gamble with what you can afford to risk," so I believe he was only able to risk $1.4 million, and it suggest he has more.

The best and only thing I think a casino would do Is to limit a user who they feel has won, or is winning too much, this will either place the user to a limit amount of money he or she can bet on the go on each sports.
Or it could completely not allow the user to bet on some sports categories and activities, it is practically, and maybe technically not possible to modify algorithm for individual players respectively,

I understand that what you are trying to say is just an assumption and there is no reality in that. If it's trusted and old, a casino doesn't modify its algorithm for each gambler even if some gamblers have won big amounts already. There are thousands of players playing at the same time, how can they possibly do that for so many gamblers?

It's only the house edge that hits some gamblers really hard, like in this case, the guy has bet over a million dollars with very small odds probably only to win a few thousand dollars but the house edge had hit him really hard and he lost the bet even with very low odds.