Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 24.

Slow death

legendary

Activity: 3234

Merit: 1130

Leading Crypto Sports Betting & Casino Platform

Quote from: BobK71 on March 23, 2023, 01:53:13 AM

Quote from: Bushdark on March 22, 2023, 06:23:06 PM

Quote from: RILWAN on March 22, 2023, 02:43:41 PM

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

len01

hero member

Activity: 1330

Merit: 585

Leading Crypto Sports Betting & Casino Platform

Quote from: btc78 on March 23, 2023, 09:54:44 PM

Quote from: erep on March 23, 2023, 03:45:19 PM

Quote from: Silberman on March 23, 2023, 03:24:32 PM

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.

Cuenta Alternativa

member

Activity: 182

Merit: 80

Don Pedro Dinero alt account

Quote from: btc78 on March 23, 2023, 09:54:44 PM

Quote from: erep on March 23, 2023, 03:45:19 PM

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.

btc78

full member

Activity: 2520

Merit: 214

Eloncoin.org - Mars, here we come!

Quote from: erep on March 23, 2023, 03:45:19 PM

Quote from: Silberman on March 23, 2023, 03:24:32 PM

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.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Quote from: Mate2237 on March 23, 2023, 01:16:26 PM

Quote from: ethereumhunter on March 23, 2023, 10:24:01 AM

Quote from: kingvirtus09 on March 23, 2023, 02:05:07 AM

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.

klidex

hero member

Activity: 1498

Merit: 504

Quote from: Silberman on March 23, 2023, 03:24:32 PM

Quote from: Mate2237 on March 23, 2023, 01:16:26 PM

Quote from: ethereumhunter on March 23, 2023, 10:24:01 AM

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.

rahmad2nd

legendary

Activity: 2548

Merit: 1009

Leading Crypto Sports Betting & Casino Platform

Quote from: erep on March 23, 2023, 03:45:19 PM

Quote from: Silberman on March 23, 2023, 03:24:32 PM

~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.

Porfirii

legendary

Activity: 2002

Merit: 2534

The Alliance Of Bitcointalk Translators - ENG>SPA

Quote from: TheGreatPython on March 23, 2023, 06:59:12 AM

Quote from: Porfirii on March 21, 2023, 06:06:25 AM

-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).

erep

hero member

Activity: 2282

Merit: 589

Quote from: Silberman on March 23, 2023, 03:24:32 PM

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.

RILWAN

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.

Silberman

legendary

Activity: 2716

Merit: 1383

Quote from: Mate2237 on March 23, 2023, 01:16:26 PM

Quote from: ethereumhunter on March 23, 2023, 10:24:01 AM

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.

Mate2237

hero member

Activity: 700

Merit: 577

Quote from: ethereumhunter on March 23, 2023, 10:24:01 AM

Quote from: kingvirtus09 on March 23, 2023, 02:05:07 AM

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.

Haunebu

hero member

Activity: 3178

Merit: 977

www.Crypto.Games: Multiple coins, multiple games

Quote from: Hirose UK on March 22, 2023, 12:31:53 PM

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.

Quote from: kingvirtus09 on March 23, 2023, 02:05:07 AM

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.

Ryu_Ar1

hero member

Activity: 1008

Merit: 724

Quote from: Fivestar4everMVP on March 22, 2023, 02:33:52 PM

Quote from: Ryu_Ar1 on March 22, 2023, 02:20:38 PM

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.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Quote from: kingvirtus09 on March 23, 2023, 02:05:07 AM

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.

TheGreatPython

sr. member

Activity: 2660

Merit: 339

Quote from: Porfirii on March 21, 2023, 06:06:25 AM

Although I won't deny the possibility that this news was originally shared in order to exploit psychological flaws and encourage people to think about gambling and, therefore, gamble more, I don't think that it is just a fabrication. It is improbable, but possible, that this kind of big wins and losses happen from time to time, specially taking into account that a few millionaires like to gamble ridiculously high amounts of money for the shake of fun.

Here is an example that changed my mind and may help you change yours too: I used to consider that reality shows were totally orchestrated, scripted, until I realised that, if I was the manager of the television producer, it would be much easier for me to find people who already were the way I wanted, rather than hire actors to perform the way I wanted.

That said, it is much easier to find a unique case of a 1.4 million loss in order to create a discussion on gambling, rather than "fabricate" it to encourage discussion.

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.

Wiwo

hero member

Activity: 1260

Merit: 765

Top Crypto Casino

Quote from: kingvirtus09 on March 23, 2023, 02:05:07 AM

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.

Really this was a ridiculous amount to gamble away in one bet, let's say that amount is won in a lottery the winner will be published in national dailies.

-But since this is a loss and it sounds weird to hear such a huge amount being spent on gambling, the fact that his action may have been influenced by some factors that are out of the gambler's control.

-For the ops to have gambled such an amount shows I high gambling addiction.

piebeyb

legendary

Activity: 2464

Merit: 1039

Bitcoin Trader

Quote from: kingvirtus09 on March 23, 2023, 02:05:07 AM

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.

he bet that amount of money means he can afford to lose it, so there shouldn't be a problem for him because of course he knows about the risks in gambling even though his 99% bet wins but it would be surprising that his expectations don't match reality, after all it could have been that person before got a big win compared to that loss and unfortunately it wasn't exposed, so always take the lesson from here that gambling with bets must be within a budget that we can afford to lose it.

kingvirtus09

full member

Activity: 938

Merit: 108

OrangeFren.com

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.

BobK71

hero member

Activity: 2128

Merit: 658

Leading Crypto Sports Betting & Casino Platform

Quote from: Bushdark on March 22, 2023, 06:23:06 PM

Quote from: RILWAN on March 22, 2023, 02:43:41 PM

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.

Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 24. (Read 8226 times)