Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 32.

carlfebz2

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Quote from: BitcoinBarrel on January 18, 2023, 10:05:43 AM

People win 1 in 100 bets all the time and don't think anything of it.

So losing a 1 in 100 is all of a sudden a big deal?

Expect with those comments and reactions yet this is really something that interesting to be talked on on where losing 1 out of 100 is not something that we could say everyday and same goes into those huge wins

or hits in 1 in 100 too.Its not a big deal, it is really just that people do really love to discuss out things which they arent seeing everyday and this one proves out that there's no such thing about 100% winning rate

no matter how one sided the match would be, losing is still there.This is why its never been that ideal on going all in and its not something that recommendable
on doing so.

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Quote from: Fivestar4everMVP on February 13, 2023, 03:22:44 PM

I tell you the plain truth man, this amount is too large to bet once, no matter how rich the individual is, do you even realize what we are talking about here, 1.4 million in US dollars, not in some shit currency without value, this amount is currently worth over 1 billion in my countries currency, with this kind of money, I will never be poor again even if I decide not to work again for the rest of my life, with moderate spending, i will eat this money till i die, and my children will continue from where i stopped.

Even if tomorrow, I become a trillionaire in US dollar, I will never be as stupid as this gambler to gamble this kind of amount out at ones.

We all agree, that the money that the man is risking is not a small amount of money.

well maybe, that's the problem. we are casual gamblers. and the man is a gambler who has abundant finances. that's why, he voluntarily risked 1.4 million dollars even though the ratio he got from the bet was not commensurate with the risk he would receive. and in fact, the man lost. he was completely unlucky in his gamble despite that his bet had a high winning probability from the low odds that the bookies were providing. the point is, we can't judge from the betting side of what other people are doing. as long as the man was willing to bet as much as he could afford to lose, it was all his decision. if the man wins his bet, the results he gets really don't match the capital at stake. but that's gambling, we are very aware of every risk of something we have risked.

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Quote from: klidex on February 13, 2023, 03:08:47 PM

Quote from: ethereumhunter on February 13, 2023, 05:20:46 AM

With that much money, let alone experiencing defeat at the gambling table, can give us a little explanation that there is a possibility that the person is experiencing mental problems that he must cure immediately before it's too late. We might hope that it was by accident that the person gambled with that much money and lost. But losing that money already makes a person go bankrupt if he doesn't have much money because that's a lot for most people.

But a gambler who is brave and able to place bets with that amount is sure to be a rich man who has money many times greater than the amount at stake.
Betting with large amounts does not matter whether he has a mental disorder or something else, but because he wants big profits too so he doesn't hesitate to bet.
Maybe mamang for us even most people will think that this amount is not a small amount and we can use it to make ends meet in a few years so it would be a shame if we bet a very fantastic amount, but for those who have more wealth and do the bet amount is not much.

I tell you the plain truth man, this amount is too large to bet once, no matter how rich the individual is, do you even realize what we are talking about here, 1.4 million in US dollars, not in some shit currency without value, this amount is currently worth over 1 billion in my countries currency, with this kind of money, I will never be poor again even if I decide not to work again for the rest of my life, with moderate spending, i will eat this money till i die, and my children will continue from where i stopped.

Even if tomorrow, I become a trillionaire in US dollar, I will never be as stupid as this gambler to gamble this kind of amount out at ones.

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Quote from: ethereumhunter on February 13, 2023, 05:20:46 AM

With that much money, let alone experiencing defeat at the gambling table, can give us a little explanation that there is a possibility that the person is experiencing mental problems that he must cure immediately before it's too late. We might hope that it was by accident that the person gambled with that much money and lost. But losing that money already makes a person go bankrupt if he doesn't have much money because that's a lot for most people.

But a gambler who is brave and able to place bets with that amount is sure to be a rich man who has money many times greater than the amount at stake.
Betting with large amounts does not matter whether he has a mental disorder or something else, but because he wants big profits too so he doesn't hesitate to bet.
Maybe mamang for us even most people will think that this amount is not a small amount and we can use it to make ends meet in a few years so it would be a shame if we bet a very fantastic amount, but for those who have more wealth and do the bet amount is not much.

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Quote from: serjent05 on February 13, 2023, 05:58:58 AM

Quote from: Fivestar4everMVP on February 12, 2023, 03:44:31 PM

Quote from: Obari on February 11, 2023, 04:56:19 PM

This is really a sad story and I was wondering how the owner of the money might be feeling now but I had to first if the money used for gambling was an amount the gambler was willing and ready to loss and if he predicted the game or was a presumed fixed match and if it was a fixed match then who ever was responsible for releasing such amount of money just for a single game truly needs to be taken to the hospital for treatment and mental health check up but I'm not certain if it was just naturally

Well, from all indications, like I've said before in my previous comments, this gambler absolutely believed this game would pull through, and he or she was just after some quick profit, which is why he or she wagered such an amount of money to win about $11k in return, but unfortunately, the game failed to click.
It is actually frustrating that we do not know who this gambler is, would have been really interesting to know how he or she is doing, but all the same, i just hope we all learn from this and never gamble in such a manner, no matter how much money we have.

I also think that the gambler believes that it is a sure win since the team he bet on was leading and he never imagine that it will turn into an upset. It is a sad day for him but gives us a lesson that we will never know who will win until the match is finished. So we must not be confident to think that we will win in a bet even though our betting team has huge lead. Upset always happen, even in a boxing where the favorite has a huge advantage over the underdog and yet lost due to some miscalculation.

Perhaps this could be the reason why he bet that huge amount. Maybe he is confident about his bet which lead him to bet that amount thinking he would profit easily and quickly because it's a "sure or guaranteed win" on his end. Unfortunately, it turned out it isn't. All of those efforts and money were all gone to waste, due to miscalculated bet and high hopes for swift ROI. And if we are to assume that he is one of those people who want easy money, then sadly this is the exact proof why people should always think twice or even more before risking so much because tables could turn even at the very end of the game.

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Quote from: Fivestar4everMVP on February 12, 2023, 03:44:31 PM

Quote from: Obari on February 11, 2023, 04:56:19 PM

This is really a sad story and I was wondering how the owner of the money might be feeling now but I had to first if the money used for gambling was an amount the gambler was willing and ready to loss and if he predicted the game or was a presumed fixed match and if it was a fixed match then who ever was responsible for releasing such amount of money just for a single game truly needs to be taken to the hospital for treatment and mental health check up but I'm not certain if it was just naturally

Well, from all indications, like I've said before in my previous comments, this gambler absolutely believed this game would pull through, and he or she was just after some quick profit, which is why he or she wagered such an amount of money to win about $11k in return, but unfortunately, the game failed to click.
It is actually frustrating that we do not know who this gambler is, would have been really interesting to know how he or she is doing, but all the same, i just hope we all learn from this and never gamble in such a manner, no matter how much money we have.

I also think that the gambler believes that it is a sure win since the team he bet on was leading and he never imagine that it will turn into an upset. It is a sad day for him but gives us a lesson that we will never know who will win until the match is finished. So we must not be confident to think that we will win in a bet even though our betting team has huge lead. Upset always happen, even in a boxing where the favorite has a huge advantage over the underdog and yet lost due to some miscalculation.

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Quote from: wxa7115 on February 12, 2023, 12:15:26 AM

Quote from: Obari on February 11, 2023, 04:56:19 PM

This is really a sad story and I was wondering how the owner of the money might be feeling now but I had to first if the money used for gambling was an amount the gambler was willing and ready to loss and if he predicted the game or was a presumed fixed match and if it was a fixed match then who ever was responsible for releasing such amount of money just for a single game truly needs to be taken to the hospital for treatment and mental health check up but I'm not certain if it was just naturally

If that was the case and the person that made that bet can afford to lose that much money then there is not problem, but I doubt it, and it is the size of the bet which tells me otherwise.

It does not matter who you are, a bet of 1.4 millions is simply too high, so if I were to guess I would suppose the gambler which made that bet has serious problems with their gambling, problems which got even worse after the massive loss they suffered.

With that much money, let alone experiencing defeat at the gambling table, can give us a little explanation that there is a possibility that the person is experiencing mental problems that he must cure immediately before it's too late. We might hope that it was by accident that the person gambled with that much money and lost. But losing that money already makes a person go bankrupt if he doesn't have much money because that's a lot for most people.

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Quote from: len01 on February 12, 2023, 03:35:34 PM

Quote from: wxa7115 on February 12, 2023, 12:15:26 AM

Quote from: Obari on February 11, 2023, 04:56:19 PM

This is really a sad story and I was wondering how the owner of the money might be feeling now but I had to first if the money used for gambling was an amount the gambler was willing and ready to loss and if he predicted the game or was a presumed fixed match and if it was a fixed match then who ever was responsible for releasing such amount of money just for a single game truly needs to be taken to the hospital for treatment and mental health check up but I'm not certain if it was just naturally

If that was the case and the person that made that bet can afford to lose that much money then there is not problem, but I doubt it, and it is the size of the bet which tells me otherwise.

It does not matter who you are, a bet of 1.4 millions is simply too high, so if I were to guess I would suppose the gambler which made that bet has serious problems with their gambling, problems which got even worse after the massive loss they suffered.

we all know about the saying gamble with money you can afford to lose.
I'm not sure how the gambler felt after losing $1.4 million but considering the above statement I have a different opinion.

I think it's possible that the gambler is very rich and he feels he has nothing to lose if he loses the game. because he already has a planned budget of funds ready to lose. so he dared to bet using $ 1.4 million for 1 match.
but even though that person is very rich but I think that feeling of disappointment he will definitely feel in a few days. because that $1 million is a lot and gone in a matter of minutes.
but I'm sure according to my thinking the gambler's condition is now fine just enjoying his disappointment.

Following you with your statement, yes, even that gambler if ever that he's that rich, but the disappointment after assuming that he has a higher chance of winning the game might really affect him. Though, if that gambler is really rich, then it's not hard for him to move forward and forget about this mess that he did.

We don't know what's the real deal is about him after losing that amount, assuming that he's rich then for sure he already moves forward and possible that he already doing some bet and continues his gambling activities.

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Quote from: Fivestar4everMVP on February 09, 2023, 03:55:11 PM

Quote from: Silberman on February 09, 2023, 03:15:07 PM

Quote from: Lucasgabd on February 09, 2023, 08:01:50 AM

Any chance. Even if small. That this was a fat finger mistake?

It reminds me of Taleb’s concepts on avoiding ruin at all costs
Let’s just hope this wasn’t a big percentage of the gamblers money. But I could bet this is not the case

This seems unlikely, the bet was likely made at a fiat casino and the bet had very high chances to be won at that point, to me the most likely scenario was that the gambler simply thought of this as free money and took the bet with everything they had at their account at the time, only for the very worst scenario to materialize and lose everything they had, just like you I hope this was not all his money but I have my reasons to believe this was the case.

I absolutely agree with you, looking at the odds, we can clearly understand that the gambler really believed that the game would come out as a win, so like you said , he decided to bet everything he had so as to get the profit up to $11,000 which is actually a lot of money to make in one day, but unfortunately for him or her, things turned out as it did with Argentina vs Saudi Arabia game last year in 2022 world cup, and this guy lost his money, i honestly believe that the guy gambled all his money away, it is very possible.

That is another good example, who would have thought that the team that eventually became the world champions will lose a match against Saudi Arabia of all teams? I do not think that even the most ardent fans of Saudi Arabia thought that was even possible at all and yet it happened, and if that can happen on the world of sports then we must recognize that anything can happen and we must never bet all of our money at once or we will suffer the same fate.

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Quote from: Obari on February 11, 2023, 04:56:19 PM

This is really a sad story and I was wondering how the owner of the money might be feeling now but I had to first if the money used for gambling was an amount the gambler was willing and ready to loss and if he predicted the game or was a presumed fixed match and if it was a fixed match then who ever was responsible for releasing such amount of money just for a single game truly needs to be taken to the hospital for treatment and mental health check up but I'm not certain if it was just naturally

Well, from all indications, like I've said before in my previous comments, this gambler absolutely believed this game would pull through, and he or she was just after some quick profit, which is why he or she wagered such an amount of money to win about $11k in return, but unfortunately, the game failed to click.
It is actually frustrating that we do not know who this gambler is, would have been really interesting to know how he or she is doing, but all the same, i just hope we all learn from this and never gamble in such a manner, no matter how much money we have.

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Quote from: wxa7115 on February 12, 2023, 12:15:26 AM

Quote from: Obari on February 11, 2023, 04:56:19 PM

This is really a sad story and I was wondering how the owner of the money might be feeling now but I had to first if the money used for gambling was an amount the gambler was willing and ready to loss and if he predicted the game or was a presumed fixed match and if it was a fixed match then who ever was responsible for releasing such amount of money just for a single game truly needs to be taken to the hospital for treatment and mental health check up but I'm not certain if it was just naturally

If that was the case and the person that made that bet can afford to lose that much money then there is not problem, but I doubt it, and it is the size of the bet which tells me otherwise.

It does not matter who you are, a bet of 1.4 millions is simply too high, so if I were to guess I would suppose the gambler which made that bet has serious problems with their gambling, problems which got even worse after the massive loss they suffered.

we all know about the saying gamble with money you can afford to lose.
I'm not sure how the gambler felt after losing $1.4 million but considering the above statement I have a different opinion.

I think it's possible that the gambler is very rich and he feels he has nothing to lose if he loses the game. because he already has a planned budget of funds ready to lose. so he dared to bet using $ 1.4 million for 1 match.
but even though that person is very rich but I think that feeling of disappointment he will definitely feel in a few days. because that $1 million is a lot and gone in a matter of minutes.
but I'm sure according to my thinking the gambler's condition is now fine just enjoying his disappointment.

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Quote from: Obari on February 11, 2023, 04:56:19 PM

This is really a sad story and I was wondering how the owner of the money might be feeling now but I had to first if the money used for gambling was an amount the gambler was willing and ready to loss and if he predicted the game or was a presumed fixed match and if it was a fixed match then who ever was responsible for releasing such amount of money just for a single game truly needs to be taken to the hospital for treatment and mental health check up but I'm not certain if it was just naturally

If that was the case and the person that made that bet can afford to lose that much money then there is not problem, but I doubt it, and it is the size of the bet which tells me otherwise.

It does not matter who you are, a bet of 1.4 millions is simply too high, so if I were to guess I would suppose the gambler which made that bet has serious problems with their gambling, problems which got even worse after the massive loss they suffered.

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This is really a sad story and I was wondering how the owner of the money might be feeling now but I had to first if the money used for gambling was an amount the gambler was willing and ready to loss and if he predicted the game or was a presumed fixed match and if it was a fixed match then who ever was responsible for releasing such amount of money just for a single game truly needs to be taken to the hospital for treatment and mental health check up but I'm not certain if it was just naturally

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Quote from: traderethereum on February 11, 2023, 07:04:30 AM

Quote from: RILWAN on February 09, 2023, 04:19:34 PM

In the case of this gambler, it is a clear case of gambling addiction if not how can a player bet a woooping 1.4 million on a bet simply because he is following odds, this is a clear case of disorder and the individual should be checked to avoid a future bad situation.

It could be that the person who has lost is just an ordinary gambler who is not addicted to gambling but wants to win the game by using lots of money as a bet.
All we know is that person has suffered so many defeats that we can't even imagine if that happened to us.
Well, maybe the person needs to be checked to see if he has a gambling addiction or if he just lost control because he wanted the big win.
But it should be avoided by all gamblers because it is not worth using a lot of money to gamble, especially small gamblers.

I think that gambler is addicted because as we can see that 1.4million USD is very big money. I think that gambler is not contented on what he/she have or Greed is controlling him as was all know that once a tour greed will control then you don't care if you will loss and only thing came up your mind that you will Win and win .
We can not denied the fact that once we loss we need to revenge and win.

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Quote from: RILWAN on February 09, 2023, 04:19:34 PM

In the case of this gambler, it is a clear case of gambling addiction if not how can a player bet a woooping 1.4 million on a bet simply because he is following odds, this is a clear case of disorder and the individual should be checked to avoid a future bad situation.

It could be that the person who has lost is just an ordinary gambler who is not addicted to gambling but wants to win the game by using lots of money as a bet.
All we know is that person has suffered so many defeats that we can't even imagine if that happened to us.
Well, maybe the person needs to be checked to see if he has a gambling addiction or if he just lost control because he wanted the big win.
But it should be avoided by all gamblers because it is not worth using a lot of money to gamble, especially small gamblers.

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Quote from: Hamphser on February 09, 2023, 04:20:14 PM

Quote from: Silberman on February 09, 2023, 03:15:07 PM

Quote from: Lucasgabd on February 09, 2023, 08:01:50 AM

Any chance. Even if small. That this was a fat finger mistake?

It reminds me of Taleb’s concepts on avoiding ruin at all costs
Let’s just hope this wasn’t a big percentage of the gamblers money. But I could bet this is not the case

This seems unlikely, the bet was likely made at a fiat casino and the bet had very high chances to be won at that point, to me the most likely scenario was that the gambler simply thought of this as free money and took the bet with everything they had at their account at the time, only for the very worst scenario to materialize and lose everything they had, just like you I hope this was not all his money but I have my reasons to believe this was the case.

Going all in? No one really knows if that guy had put up all of his riches on that particular moment or bet which there's no way on finding it out but i doubt that it is really just a part of his money and its true that

he had made out some all in kind of betting which he had really though that this is really just an easy money for him on a particular game.Assuring 100% winning chance? This doesnt happen on betting world.

Yes, we could say on which games are one sided but its never been that recommendable that you should really be doing some all in type of betting behavior.
It would really wrekt you up big time.

No one can say for certain whether or not the individual who placed the wager truly risked all of their wealth by doing so. In the realm of gambling, there is never any assurance that a player will have a hundred percent probability of winning. Although certain games could seem to be unfair, it is never a good idea to depend primarily on that and you should always play properly. Going all in might be appealing, but doing so runs the risk of causing you to lose everything and putting you in a worse situation than you were in before. Because of this, it is essential to constantly have a sound game plan and to avoid allowing our emotions to cloud our judgments.

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Quote from: bitbollo on January 18, 2023, 07:43:29 AM

https://nypost.com/2023/01/15/gambler-loses-massive-1-4-million-bet-on-chargers-jaguars-game/

Quote

One bettor wasted a massive $1.4 million wager after betting on Los Angeles before the Jaguars mounted an epic comeback to beat the Chargers 31-30, according to Action Network’s Darren Rovell.

It seems that a gambler has loss this massive amount (1.4 million USD) playing a bet with an odds lower than 1.01! (exactly 1.008)

I think there are several lessons here:
- there is not easy bet! even lower odds there is always a risk.
- it's really risky playing an huge amount. This not helps gambler because the risk is much much higher then rewards!
- gambling is not easy at all! it's really hard achieve a profit even for easy games!

what your opinion about this gambling issue? did you had experience similar experience? how a good gambler should avoid such mistakes?

Most major losses in gambling are caused by greed and discontentment. A successful gambler must know when to walk away even in the period of wins or loses. It is true that we all try to recover losses by betting more but most reports shows that it leads to more losses.

My advise is that every gambler must have a plan for his gambling lifestyle and a budget should be attached to this plan. We shouldn't also see gambling as a major source of revenue or a full time job. It should be seen as a source of entertainment or passive income. It is also important to be disciplined. We must set boundaries for our gambling activities so that we will be aware of when to gamble and when to walk away.

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Quote from: Bushdark on February 08, 2023, 05:32:37 PM

Do not forget that there are people that had been making consistent profits from the small odds you are against. Everybidy has things that works for them that might not work for you. Gambling is just all about what works for us so you can think that there are not persons makingoney from that small odds.

At first glance, betting only on low odds may seem a good and a profitable strategy but in practice it's not.
First, to make a good profit from low odds, you need to wager high amounts. Hence, if you lose even a single bet (although the probability of this happening is very low) the loss will be painful and you will have hard time to recover what you lost.
The only good thing about this strategy is that it allows you to extend the session for too long.

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Quote from: Lucasgabd on February 09, 2023, 08:01:50 AM

Any chance. Even if small. That this was a fat finger mistake?

It reminds me of Taleb’s concepts on avoiding ruin at all costs
Let’s just hope this wasn’t a big percentage of the gamblers money. But I could bet this is not the case

It's left for the gambler on the actual fact about this matter, but i know that having such experience with other gamblers isn't a new thing anymore, many have lost away more than that or even below without being left with an alternative, you gamble, you take risk, you win it's turns your money and when you loose as well it return to the casino, but the source to the money used get to be in question, don't be freaking busy for nothing with gambling odds that changes nothing about your winning or loosing.

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Quote from: Silberman on February 09, 2023, 03:15:07 PM

Quote from: Lucasgabd on February 09, 2023, 08:01:50 AM

Any chance. Even if small. That this was a fat finger mistake?

It reminds me of Taleb’s concepts on avoiding ruin at all costs
Let’s just hope this wasn’t a big percentage of the gamblers money. But I could bet this is not the case

This seems unlikely, the bet was likely made at a fiat casino and the bet had very high chances to be won at that point, to me the most likely scenario was that the gambler simply thought of this as free money and took the bet with everything they had at their account at the time, only for the very worst scenario to materialize and lose everything they had, just like you I hope this was not all his money but I have my reasons to believe this was the case.

Going all in? No one really knows if that guy had put up all of his riches on that particular moment or bet which there's no way on finding it out but i doubt that it is really just a part of his money and its true that

he had made out some all in kind of betting which he had really though that this is really just an easy money for him on a particular game.Assuring 100% winning chance? This doesnt happen on betting world.

Yes, we could say on which games are one sided but its never been that recommendable that you should really be doing some all in type of betting behavior.
It would really wrekt you up big time.

Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 32. (Read 6572 times)