Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 21.

DaNNy001

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Quote from: Jossque on March 27, 2023, 06:50:37 PM

Quote from: coinerer on March 27, 2023, 05:40:44 PM

No one can ever guarantee winning in gambling so one should always bet according to one's ability. Don't bet on greed or high amount with guarantee of any result. If it is lost, there will be a big loss. As happened in op's story. I have also lost bets at small odds a few times. So gambling should always be done with small amounts and should be used as fun so that losses do not cause major losses. So I mostly bet on sports because it is highly predictable

Betting on soccer or any other sport is always the same. There is always the possibility of losing. Like you, I have also experienced a slight loss in my time and learned my lesson. For this reason, I started to do risk management well. Yes, betting is a job of skill and experience, but it should not be forgotten that this is also a labor-intensive job. You analyze the matches, you even look at which players are injured and which ones are playing. Sometimes you even look at the weather, which way the wind is blowing. I have even taken bets thinking about these things. But now I play for pleasure and I don't play seriously as often as I used to. This shows that my losses are not so much.

Something you said about checking the wind stats sounds kind of funny and it reminds me of a friend I had who always goes extra miles when forecasting for odds he would like to put his cash on. This guy like you actually believed that betting has to do with skills and how precise you are in checking all the above stats you mentioned. But the funny part about gambling is that no one and I mean "NO ONE"can actually guaranteed a sure winning game as all his bets normally end up as lost bets, let's take a soccer match for example, two teams with highly different odds, lets say 1.50odd against 3.50odd and all possible stats checked has pointed out to the 1.50 odd as guaranted winners and then football actually takes place and the unpredictable event of two red card or even a possible red card or an unplanned injury in the match occured, it can twist and turn the outcome of that match, making the opposite odd winners and then you a possible looser Grin

so I think sport betting or any betting is actually based on one main factor which is if you are LUCKY.

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Quote from: delfastTions on March 28, 2023, 02:30:11 AM

Quote from: Haunebu on March 22, 2023, 12:21:30 PM

Quote from: puloweh555 on March 22, 2023, 08:46:13 AM

The gambler's mistake is greed, and seeing a profit of 0.5℅-1℅ is small. Even consider it a loss. If only they could think of taking small profits and playing in games with small risks. In fact, gambling can have higher interest than any financial instrument. But back again. The mindset of people is different

I disagree. Gambling is always risky even when you are gambling with a 99% win rate since you will eventually encounter the 1% loss due to the house edge which would blow your funds just like that.

Investing in government instruments like fixed deposits etc are always a lot safer in comparison.

Definitely investing in government bonds or even deposits in large world-famous banks is much safer than gambling.
However, recent events in the banking sector show us that here, too, reliability has begun to decline. Look at the SVB stories, or the collapse of Credit Suisse. So it’s more correct to say that no investment of money can 100% guarantee you their return, and even with interest on the deposit.
In our world, in general, everything is unpredictable. Sad

And in general, what will happen to the money if suddenly the San Andreas Fault "breaks" or blows up the Yellow stone volcano. Then, for sure, all people will not be up to bank deposits, all sorts of shares and gambling.

You've heard the saying, right? "Only two things are certain in life: death and taxes." Investment's no exception. Government bonds, bank deposits – they're deemed secure, but recent happenings show they ain't foolproof.
Now, picture getting inventive with our investments. What if we put our money into something extraordinary, like digital coins, fine art, or, I don't know, memes? Who's to say we won't hit the jackpot and turn into the next Elon Musk or Banksy?

Naturally, this road's paved with risks and unpredictability. But hey, fortune favors the bold, and we might just end up reaping more significant rewards than with conventional investments.

ethereumhunter

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Quote from: Jossque on March 27, 2023, 06:50:37 PM

Quote from: coinerer on March 27, 2023, 05:40:44 PM

No one can ever guarantee winning in gambling so one should always bet according to one's ability. Don't bet on greed or high amount with guarantee of any result. If it is lost, there will be a big loss. As happened in op's story. I have also lost bets at small odds a few times. So gambling should always be done with small amounts and should be used as fun so that losses do not cause major losses. So I mostly bet on sports because it is highly predictable

Betting on soccer or any other sport is always the same. There is always the possibility of losing. Like you, I have also experienced a slight loss in my time and learned my lesson. For this reason, I started to do risk management well. Yes, betting is a job of skill and experience, but it should not be forgotten that this is also a labor-intensive job. You analyze the matches, you even look at which players are injured and which ones are playing. Sometimes you even look at the weather, which way the wind is blowing. I have even taken bets thinking about these things. But now I play for pleasure and I don't play seriously as often as I used to. This shows that my losses are not so much.

Losing money in gambling is a certainty, although winning can also be obtained from gambling. But the possibility of winning will not always be greater than losing, so we cannot expect always to win. And I agree with you two not to take too big risks with gambling and only gamble small amounts if we can't accept losing a lot. Financial management also needs to be applied in this case so that we don't lose a lot of money gambling. And always limiting it always allows us to resist the temptation to gamble more often.

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Quote from: len01 on March 26, 2023, 11:59:22 PM

Quote from: Reatim on March 26, 2023, 10:00:52 PM

Quote from: Jossque on March 26, 2023, 06:12:32 PM

Today we have once again seen how deceptive the odds are. In the Denmark - Kazakhstan match, Denmark failed to win the match despite being heavy favorites. Denmark was given odds of 1.06. But Denmark lost the match 3-2 after leading 2-0 in the first half. From here we see again that there is no guarantee of any match. We need to understand again that matches should not be made according to the odds. Many people can lose big money because of simple matches because of low odds. As a lesson for us, I prefer not to bet on such matches because it makes no sense.

and still , this is why its called gambling because there is no complete assurance , things can change any time and result will vary in the end of game and that is not will come in the beginning in which proven here , imagine a favorite team and took the advantage in first half but ending be a loser ?
that is so sad for those who put a bet in this team but losing badly.

in sports betting anything can happen and usually it will give a surprise in the final round, that's sports betting.
low odds for me are not a definite result. we need more research before believing in low odds.
even though low odds seem convincing, let's see how many cases of people are deceived by low odds and end up losing.
for sports betting at least we have to be more thorough in doing research before placing a bet it will be better than just believing in misleading low odds.

lol , in everything that involved money , anything can happen but in sports betting it is something rare to happen that the favorite is going to lose and that is the reality of this, we can track that for many chances and long years , this is why the Odd is far different from the lower ranking.
and also the more safer in sportsbet than any form of gambling in which mostly about luck to make you win.

piebeyb

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Quote from: Jossque on March 27, 2023, 06:50:37 PM

Quote from: coinerer on March 27, 2023, 05:40:44 PM

No one can ever guarantee winning in gambling so one should always bet according to one's ability. Don't bet on greed or high amount with guarantee of any result. If it is lost, there will be a big loss. As happened in op's story. I have also lost bets at small odds a few times. So gambling should always be done with small amounts and should be used as fun so that losses do not cause major losses. So I mostly bet on sports because it is highly predictable

Betting on soccer or any other sport is always the same. There is always the possibility of losing. Like you, I have also experienced a slight loss in my time and learned my lesson. For this reason, I started to do risk management well. Yes, betting is a job of skill and experience, but it should not be forgotten that this is also a labor-intensive job. You analyze the matches, you even look at which players are injured and which ones are playing. Sometimes you even look at the weather, which way the wind is blowing. I have even taken bets thinking about these things. But now I play for pleasure and I don't play seriously as often as I used to. This shows that my losses are not so much.

all bets always have a risk but indeed most sports bets are better than casinos, the difference is that sports rely on analysis and also luck, but playing casino only relies on luck alone, that's why playing casino is more risky than sports betting but again that every bet is always have a risk

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Quote from: Lanatsa on March 27, 2023, 06:56:39 PM

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.

2 things that gamblers cannot choose, only winning and losing, these two things can be experienced by gamblers because fate and luck no gambler can guarantee or determine victory.
Playing quietly and not thinking too much about winning is the only way for gamblers not to lose too much money.
It is not surprising that many gamblers lose big because they are too ambitious to win large amounts of bets because when a gambler has the ambition to win and eventually loses he will still bet again emotionally and make bigger bets so that the losses return and the profits are even greater but it is impossible to can win it.
What do you get? Losing unlimited amounts of money is unavoidable.

delfastTions

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Quote from: Haunebu on March 22, 2023, 12:21:30 PM

Quote from: puloweh555 on March 22, 2023, 08:46:13 AM

The gambler's mistake is greed, and seeing a profit of 0.5℅-1℅ is small. Even consider it a loss. If only they could think of taking small profits and playing in games with small risks. In fact, gambling can have higher interest than any financial instrument. But back again. The mindset of people is different

I disagree. Gambling is always risky even when you are gambling with a 99% win rate since you will eventually encounter the 1% loss due to the house edge which would blow your funds just like that.

Investing in government instruments like fixed deposits etc are always a lot safer in comparison.

Definitely investing in government bonds or even deposits in large world-famous banks is much safer than gambling.
However, recent events in the banking sector show us that here, too, reliability has begun to decline. Look at the SVB stories, or the collapse of Credit Suisse. So it’s more correct to say that no investment of money can 100% guarantee you their return, and even with interest on the deposit.
In our world, in general, everything is unpredictable. Sad

And in general, what will happen to the money if suddenly San Andreas Fault "breaks" or blows up Yellowstone volcano. Then, for sure, all people will not be up to bank deposits, all sorts of shares and gambling.

Lanatsa

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Quote from: Jossque on March 27, 2023, 06:50:37 PM

Quote from: coinerer on March 27, 2023, 05:40:44 PM

No one can ever guarantee winning in gambling so one should always bet according to one's ability. Don't bet on greed or high amount with guarantee of any result. If it is lost, there will be a big loss. As happened in op's story. I have also lost bets at small odds a few times. So gambling should always be done with small amounts and should be used as fun so that losses do not cause major losses. So I mostly bet on sports because it is highly predictable

Betting on soccer or any other sport is always the same. There is always the possibility of losing. Like you, I have also experienced a slight loss in my time and learned my lesson. For this reason, I started to do risk management well. Yes, betting is a job of skill and experience, but it should not be forgotten that this is also a labor-intensive job. You analyze the matches, you even look at which players are injured and which ones are playing. Sometimes you even look at the weather, which way the wind is blowing. I have even taken bets thinking about these things. But now I play for pleasure and I don't play seriously as often as I used to. This shows that my losses are not so much.

There's no exemption into this on which a certain gambler or bettor would really be having the chance of losing money no matter how slim or small the odds is.This is why its always that ideal on making yourself

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.

Jossque

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Quote from: coinerer on March 27, 2023, 05:40:44 PM

No one can ever guarantee winning in gambling so one should always bet according to one's ability. Don't bet on greed or high amount with guarantee of any result. If it is lost, there will be a big loss. As happened in op's story. I have also lost bets at small odds a few times. So gambling should always be done with small amounts and should be used as fun so that losses do not cause major losses. So I mostly bet on sports because it is highly predictable

Betting on soccer or any other sport is always the same. There is always the possibility of losing. Like you, I have also experienced a slight loss in my time and learned my lesson. For this reason, I started to do risk management well. Yes, betting is a job of skill and experience, but it should not be forgotten that this is also a labor-intensive job. You analyze the matches, you even look at which players are injured and which ones are playing. Sometimes you even look at the weather, which way the wind is blowing. I have even taken bets thinking about these things. But now I play for pleasure and I don't play seriously as often as I used to. This shows that my losses are not so much.

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Quote from: klarki on March 27, 2023, 05:51:13 PM

Quote from: coinerer on March 27, 2023, 05:40:44 PM

So I mostly bet on sports because it is highly predictable

Perhaps so, at least in this direction is important not only luck, but also the ability to analyze. In this regard, sports betting looks more attractive than gambling slots. What is your experience with sports betting?

I played slot games for several months, simply because I usually don't have time to watch sports, or even follow it up in the news, but at a certain stage, I had to find ways to start watching sports and also follow up on it's updates, to help better my chances of winning a bet, since sports betting is not completely dependent on luck.

And the thing is, both sports betting and slot games has their pros and cons, slot games doesn't require you investing your time in anything, any one can just visit the casino and start playing..

But sports betting on the other hand, require that you invest a little bit of your time in watching sports and reading and listening to sports updates, because this is the only way to gain knowledge of which team to bet on and which team to not bet on anytime there is a match being played.

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Quote from: klarki on March 27, 2023, 05:51:13 PM

Quote from: coinerer on March 27, 2023, 05:40:44 PM

So I mostly bet on sports because it is highly predictable

Perhaps so, at least in this direction is important not only luck, but also the ability to analyze. In this regard, sports betting looks more attractive than gambling slots. What is your experience with sports betting?

For sports betting, not only luck works, high prediction ability is required to win here. And one who has a very good knowledge of the sport and knows the teams and players very well and has experience on how they perform. They win most bets. Because they have high predictive power here. It can never give a 100% guarantee on anything be it slots or sports bets. I have pretty good experience with sports bet so I win about 80% of my bets here. But I always bet smaller amount because it gives me more confidence.

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Quote from: coinerer on March 27, 2023, 05:40:44 PM

So I mostly bet on sports because it is highly predictable

Perhaps so, at least in this direction is important not only luck, but also the ability to analyze. In this regard, sports betting looks more attractive than gambling slots. What is your experience with sports betting?

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Quote from: Desmong on March 27, 2023, 04:37:56 PM

Quote from: RILWAN on March 27, 2023, 06:11:14 AM

When it comes to gambling, we need fo settle some vital facts before we start playing facts like how much we are willing to lose but that can only be applied to gamblers who are still stable and not addicted, because in ops case it shows that he was a addicts that make the matter worst for him to handle his level of excess.

This is something no gambler would want to talk about on how many bet or amount they are willing to lose.
We all want to make money from gambling whether we are doing the right thing of not. We want to associate with friend and enjoy life when we are not ready to discuss about what could be our fate in what we are doing in the gambling world.

people who are into gambling does not know if they will lose or if they will win what their actions of his to win in any of their bet so I believe that they don't have the ideology that they will lose and that is why some of them used all their money so that so at least for a good gamble you need to have a particular amount use for your gambling

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Quote from: Dunamisx on March 27, 2023, 05:59:53 AM

Quote from: hZti on March 27, 2023, 03:58:36 AM

Could be that the game was rigged if the betting company knew that they could easily make 1.4 Million dollar if they would rig the game. However it is way more hard to rig a game than people actually think. The most easy solution is actually that he was an idiot that felt smart when playing with this high amounts of money. The real question is why he had 1.4 Millions to spend if he does so bad choices in gambling.

Did you just say rigged, well I can't concluded on the reputation of the kind of casino he uses but as far as am concerned most gambling casinos don't do that, there's nothing to rig once after you've taken placed your bet and staked on it, they give you a printout slip serving as your winning ticket in case it comes, ordinary gambler on a low class cannot use such huge amount to gambles without having an alternative backup.

The bettor could be cheated if he bets at an untrusted bookie and also bets on matches that are not well known and are matches that are often involved in fixed matches. This is just my opinion, the bookmakers will cooperate with the event organizers and when they see that losing small odds will give a bigger profit then they do it or deliberately give wrong odds so bettors think they are get trapped, but this is just my opinion.
We must know clearly that the bettor who lost with big money bet where and at what match. Then we can conclude that there is something strange or not, even though in sports betting anything can happen and there is no need to suspect the bookmaker, especially if they are a trusted gambling site because they maintain reputation will be better than taking players' money in a fraudulent way, so I think it's just a normal loss it's just that the money is so big that it makes the news.

coinerer

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Quote from: Jossque on March 27, 2023, 05:21:18 PM

Quote from: Reatim on March 26, 2023, 10:00:52 PM

Quote from: Jossque on March 26, 2023, 06:12:32 PM

Today we have once again seen how deceptive the odds are. In the Denmark - Kazakhstan match, Denmark failed to win the match despite being heavy favorites. Denmark was given odds of 1.06. But Denmark lost the match 3-2 after leading 2-0 in the first half. From here we see again that there is no guarantee of any match. We need to understand again that matches should not be made according to the odds. Many people can lose big money because of simple matches because of low odds. As a lesson for us, I prefer not to bet on such matches because it makes no sense.

and still , this is why its called gambling because there is no complete assurance , things can change any time and result will vary in the end of game and that is not will come in the beginning in which proven here , imagine a favorite team and took the advantage in first half but ending be a loser ?
that is so sad for those who put a bet in this team but losing badly.

That's why gambling is risky and anything can happen at any time. You need to adjust your risk according to yourself. Choosing odds under 1.10 as banko can sometimes end badly for us. The same thing can happen not only in this match but also in other matches. We really need to be self-confident about this. It is very sad for those who bet on this team. In the first half the team you bet on is 2-0 up and in the second half they concede 3 goals and lose the match. It is actually a frustrating event even for a normal person. When I experience such incidents, I immediately get upset and move on. The ball is round and it is difficult to predict what will happen.

No one can ever guarantee winning in gambling so one should always bet according to one's ability. Don't bet on greed or high amount with guarantee of any result. If it is lost, there will be a big loss. As happened in op's story. I have also lost bets at small odds a few times. So gambling should always be done with small amounts and should be used as fun so that losses do not cause major losses. So I mostly bet on sports because it is highly predictable

Jossque

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Quote from: Reatim on March 26, 2023, 10:00:52 PM

Quote from: Jossque on March 26, 2023, 06:12:32 PM

Today we have once again seen how deceptive the odds are. In the Denmark - Kazakhstan match, Denmark failed to win the match despite being heavy favorites. Denmark was given odds of 1.06. But Denmark lost the match 3-2 after leading 2-0 in the first half. From here we see again that there is no guarantee of any match. We need to understand again that matches should not be made according to the odds. Many people can lose big money because of simple matches because of low odds. As a lesson for us, I prefer not to bet on such matches because it makes no sense.

and still , this is why its called gambling because there is no complete assurance , things can change any time and result will vary in the end of game and that is not will come in the beginning in which proven here , imagine a favorite team and took the advantage in first half but ending be a loser ?
that is so sad for those who put a bet in this team but losing badly.

That's why gambling is risky and anything can happen at any time. You need to adjust your risk according to yourself. Choosing odds under 1.10 as banko can sometimes end badly for us. The same thing can happen not only in this match but also in other matches. We really need to be self-confident about this. It is very sad for those who bet on this team. In the first half the team you bet on is 2-0 up and in the second half they concede 3 goals and lose the match. It is actually a frustrating event even for a normal person. When I experience such incidents, I immediately get upset and move on. The ball is round and it is difficult to predict what will happen.

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Quote from: RILWAN on March 27, 2023, 06:11:14 AM

When it comes to gambling, we need fo settle some vital facts before we start playing facts like how much we are willing to lose but that can only be applied to gamblers who are still stable and not addicted, because in ops case it shows that he was a addicts that make the matter worst for him to handle his level of excess.

No matter how you are being addicted in gambling you must have a particular amount of money use in any of your gambling business so you have to map out some particular amount for a different denomination of bet, nobody this days that does know specific among of money use in it bet

Desmong

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Quote from: RILWAN on March 27, 2023, 06:11:14 AM

When it comes to gambling, we need fo settle some vital facts before we start playing facts like how much we are willing to lose but that can only be applied to gamblers who are still stable and not addicted, because in ops case it shows that he was a addicts that make the matter worst for him to handle his level of excess.

This is something no gambler would want to talk about on how many bet or amount they are willing to lose.
We all want to make money from gambling whether we are doing the right thing of not. We want to associate with friend and enjoy life when we are not ready to discuss about what could be our fate in what we are doing in the gambling world.

STT

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There is no requirement for the operators to rig the game to make money. In fact any alteration or suspicion like that would reduce profits in a larger sense. I could only suspect a rigged game if it was done on a small scale, an admin working both against their own company and obviously the player by skimming off profits they are not due in any way. The big companies will do their best to ensure visibility of factors to increase confidence and degree of playing, if people play the operators will make money by the plain rules of thee game the house will get a nice percentage from bets of 1.4m done regularly. Its too tempting with these odds to think its 'free money' eventually it really isnt.

Wiwo

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Quote from: Jody.Drummer on March 27, 2023, 01:54:06 PM

Quote from: Wiwo on March 27, 2023, 01:01:30 PM

Quote from: BobK71 on March 26, 2023, 11:45:27 PM

One major difference between a rich and a poor gambler is the betting amount. Gamblers who actually have enough money are able to take big risks. But since gambling luck is one of the reasons for winning, many poor gamblers can hit the big jackpots and become rich. Even a wealthy gambler can lose money through uncontrolled gambling. Above all, I see no gap between the rich and the poor in gambling. Those who practice responsible gambling will succeed.

Well, I can't really say the same, because I have seen a gambler who is not wealthy but still managed to bet high amounts and most of his fortune comes from gambling and he can make bets of millions of our local currency.

-I don't know if he really has any other investment to qualify as being a rich person, but he has a set aside a huge amount that he gambled with, but his life is really unstable due to that.

Yes, from the amount of the bet, we can see the ability of gamblers, whether they have the ability to gamble in large amounts or vice versa. But I also often see them push themselves and hope their luck comes at the right time. Those who don't have enough money to force themselves to bet large amounts of course is a mistake, because after all this is a gamble full of luck. This should be avoided, never force yourself to bet large amounts when we are unable to do so, because then a lot will surely be sacrificed.

But also another thing to note is the fact that gambling sometime can be addicting and one can go the extra mile, I hard a story of a guy who gamble away his company money, will such a person be considered as a rich gambler because he takes a huge amount once?

-we have a loof sscenariosthat can play out when one is on the machine.

Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 21. (Read 8226 times)