Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 23. (Read 8226 times)

I am sure the guy stated @OP is a rich man and probably that amount is just a drop to his wealth.  Probably that guy uses that strategy often and he is fully confident that nothing will go wrong because the team he is betting to win is leading by mile but sadly gambling has some unidentified variable that can change the result of the game. 

Even though I think the guy @OP stated is a wealthy person, I hope that he is not depressed over the losses.

Based on the above conclusions, he placed a bet because he had predicted the odds of winning and the odds were low that he would lose, but in sports betting there are no accurate predictions and he has lost all his bets, let's hope he is a rich man and still has another million dollars in his account, because Anyone would be stressed from losing millions of dollars on high bets and unfortunately he targets low profits on those bets.

Yes rich forks have a lot of money to throw around and wasting an amount that is enough to change someone financial life in just one bet with a very bad odds makes me. Wonder if the bet is actually done to win or if the ops placed the bet by mistake.

-Because we have a few situation where players make such life-draining mistakes of betting amounts beyond what their plan to bet with.

Yeah, rich guys are able to do so... Hope he is really rich and didn't take credit for this bet. There are several occasions with credits for staking, mostly bad stories  And, seriously, a person can also be a fan and trust his or her favorite team so much that they bet such sum on them...

Sometimes I have this thought that it's only rich guys that lost bigger in gambling because I read such things as being rich only makes you bet bigger since you have access to enough balance to gamble with.

-But then also we must acknowledge the fact that not only rich big bag holders have access to huge funds to gamble with, we also have some normal average players who have the heart to gamble high amounts or accumulate higher total bet amounts via their wagering total.

Getting into deep will be a big problem either you are a rich gambler or just a small time player, the chance of being tempted as time goes by will bring you to put more money into your bankroll, though if you manage to put good limitation with your day-to-day sessions will help you to enjoy and possible to earn if you will create good system to find good advantage according to your experienced.

But the chance is slim and if ever there are gamblers who can win against the house, there are still more that who can't control and lose a lot.

You've thought this through, fam! Yes, this game may be played. Making the best decision with the facts you have is key. I like the Asian disabled lifestyle since it offers many choices. As you suggested, pick the club with the best odds. Liverpool's 5.40 odds seem slim compared to City's 1.58. However, this chaotic game is unpredictable!

He acted irrationally by risking $1.4 million. Money distorts our thinking and makes us take unnecessary risks. As you correctly noted, skilled gamblers with plenty of money usually study and analyze before betting. Gaming is addictive, thus we must be careful to avoid it. In conclusion, gamble calmly, make informed decisions, and never risk more than you can afford.

If that happens to us while we still have a lot of money, we should realize that we need help from other people to save us from things that can further aggravate our condition. When we are addicted to gambling, we cannot imagine what can be lost because of gambling because all that is on our minds is gambling. And for now, that gratitude is getting bigger because we can still try not to get addicted to gambling, can limit gambling activities, and the most important thing is that we can still have money for other things.

And when one's restraint level begins to wane, that person should stop immediately before one suffers more defeats. And even though he is a rich man, he must stop immediately because it can trigger him to use more money. After all, he knows he still has a lot of money to gamble. To overcome this, we may limit depositing money for gambling so that when we lose control, we can immediately find out and get out of gambling. But it won't mean anything if we keep depositing another amount.

Actually it doesn't matter whether they are rich or poor gamblers because if they allocate a funding limit for gambling then they will not add other funds for gambling, even though poor gamblers have limited funds so not much money is bet on gambling, the important point is that they have to control themselves and not greedy in gambling.

^This is definitely right and I believed your thought, whether someone is rich or poor, the outcome could be determined by luck and self-control. It is possible that having a lot of money in one's pocket can be a big temptation, making it difficult to control impulses and avoid excessive betting. Probably smaller gamblers may have an advantage in that they have less money to gamble with, making it easier to control their bankroll and make their gambling experience last longer.

The truth is, we don't know it.

But the theory you say in this post makes a lot of sense. but actually, there are rules of the game that we must follow. which ones are appropriate for us to choose, and which ones should be ignored. me, can do two options, i can bet on 1x2 or, bet on asian version i.e. handicap. depending on needs, especially if it's doubtful in terms of my personal judgment and considerations. Plus, you don't have to choose a team if the odds available are not ideal. in fact, we can bet on the number of goals or other options and so on.

From my point of view, it depends on a team that is playing. Let's take the example, the Manchester City vs Liverpool match. odds for City @1.58, while odds for Liverpool @5.40. in conclusion, it's hard if Liverpool win this match. Another consideration, whether there are many goals in this match. referring to the Asian odds of City @-1, which means, I can choose various options in this betting session, depending on the results of my analysis and it doesn't matter that the team that will play is City vs Liverpool. meaning, anything is possible.

Let's refer to the guy who gambled his $1.4 million. does he lack consideration, analysis, insight, is it possible that he is gambling blindly. maybe, but the probability is very small. because the fact is, we, who are not professional gamblers plus a small bankroll, will always try to research and analyze before making a bet.
So the question is, why do gamblers dare to go all in with odds @ 1.01? there are no answers, everything is a riddle. but psychologically, our minds are driven in the opposite direction because the money that is at stake is irrational for us.

Yes, you really have to be grateful because you can still bet and indirectly because only a little is used for betting, it can prevent us from gambling addiction.
Following the rich people's way of gambling will only kill us because we have gambled beyond the limits that will make us lose everything.
If you have a lot of money and like to gamble, then addiction is clearly right in front of your eyes and it's only a matter of time until we experience interference, so all gamblers without exception must try to control themselves while gambling.
Actually not a temptation but more to curiosity and greed for victory.

But then again, we should be thankful that we still have a few bucks for gambling. And even though it will never be like the rich playing gambling and we can't compare it, we can still play gambling as usual. And actually, we have more chances to avoid gambling addiction, especially if we try hard to control ourselves and have stronger self-control than others.

But gambling can really give anyone, be they rich or poor, a bigger problem because the temptation of gambling is so strong. Without having good self-control, we will only fall into those temptations without being able to get out easily.

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.

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.

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.

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.

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.

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.