Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 33. (Read 6572 times)
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.
February 09, 2023, 03:55:27 PM
^If you are able to win that is all about luck and not just because how much the percentage of the odds.
But you are definitely right, manage your temper and your greed so that you don't have a big loss, the thing that causes you to become an empty pocket is that you are chasing your loss. Whatever happens, don't chase your loss because it may lead to frustration while gambling, and it can be out of your focus. So for me, gambling is based on luck and nothing more, stop when luck was not on your side.
But you are definitely right, manage your temper and your greed so that you don't have a big loss, the thing that causes you to become an empty pocket is that you are chasing your loss. Whatever happens, don't chase your loss because it may lead to frustration while gambling, and it can be out of your focus. So for me, gambling is based on luck and nothing more, stop when luck was not on your side.
Of course it really has to do with how big the percentage of available odds is. a matter of luck, that is another matter. but based on the odds, the dealer gives the percentage of which team is more superior to win the match. imagine, if in a sports match it is only about luck. then, why do bookies provide varying odds. So, it's about the skills of the players, the depth of the team, the strength of the team, because of that the bookie gives lower odds on the stronger team. and gives high odds, to the opposing team that is not favored.
But by the way, I agree with the other points you mentioned. at least, we must avoid chasing losses that have been lost before and make gambling just entertainment and fun.
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February 09, 2023, 03:55:11 PM
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.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
February 09, 2023, 03:15:07 PM
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. 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
February 09, 2023, 12:17:07 PM
I would say that this time, he got very unlucky. Above all, this is gambling regardless of how little the odds of losing, you can still lose. I hope that bettor was aware of the risk.
I don't think the bettor had anything in his mind that he would lose, nor did he doubt that he didn't feel the risk that he took, to be honest.
Then one more thing, it's not our problem if the bettor lost by a large amount, although, most of us here can't deny that we regretted the 1M$ that the bettor bet, they seemed to be sorry, in fact, there are many of us can be bought for that 1M$.
February 09, 2023, 10:40:14 AM
I would say that this time, he got very unlucky. Above all, this is gambling regardless of how little the odds of losing, you can still lose. I hope that bettor was aware of the risk.
I don't think the bettor had anything in his mind that he would lose, nor did he doubt that he didn't feel the risk that he took, to be honest.
Then one more thing, it's not our problem if the bettor lost by a large amount, although, most of us here can't deny that we regretted the 1M$ that the bettor bet, they seemed to be sorry, in fact, there are many of us can be bought for that 1M$.
February 09, 2023, 09:15:41 AM
These extremly low odds are the worst thing you can possibly use on gambling websites.
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. There was a time I was accustomed to using fee odds to win big profits but anytime I use big odds, I do end up losing the bets. It works for some time until the strategy stop working. Although I enjoyed the profits for a while. I don't like greed that is why I don't use big odd to win big profits everytime.
-You should not use the word consistent winning, because there is nothing like consistency in bets outcome.
-The situation is bound to change at regular intervals since the situation changes from time to time depending on the advantage presented to each team during the play.
February 09, 2023, 08:49:51 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
That's totally possible especially considering the fact that it was a live bet where the chances of making such mistakes are drastically higher when compared to pre-game bets. This is even worse when compared to making no such 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
I do feel that the gambler is a whale just like you, but the loss will still sting regardless if you ask me.
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February 09, 2023, 08:07:40 AM
I have lost 1.01 odd before, I have lost 1.05 odd more than ones before, I have lost 1.02 several times that let me know that going for lower odds is stupidity, it will only encourage you to increase the money you use to stake and losses is still possible. It is a means of getting addicted too.
I have won 1.25 to 2 odds before very well, if I take higher odd with lower amount of money and lose, it is better than going for lower odds with high amount of money.
I have won 1.25 to 2 odds before very well, if I take higher odd with lower amount of money and lose, it is better than going for lower odds with high amount of money.
It is certainly concerning to hear about a gambler losing a vast amount of money playing a bet with odds as low as 1.008. This serves as a reminder that there is always a risk involved in gambling, even with seemingly low odds. I would suggest everyone play at a safe level with a certain amount after proper research so the risk of financial loss should be minimized.
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 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
February 09, 2023, 07:55:41 AM
A gambling addict never realizes how risky it is and how much money a single bet is good for. Then they think that betting a big account will give a big amount of return and they will become rich in a very short time. But when he loses that big amount he can feel how big a mistake he made. And thus many lose everything and end up in huge debt or commit suicide.
In fact, being too obsessed with wealth from gambling is something that is really not recommended for gamblers because it will only give them big losses and losses.We don't know whether to win or lose in a game, even though we can still minimize the rate of defeat, not everyone can do it.
Some people can indeed make large amounts of money at gambling and even then they already have sufficient experience and knowledge in all games or bets.
So the option to get rich in an instant by relying on gambling is just a dream for those who are beginners or gamblers who only have money without any knowledge or strategy.
February 08, 2023, 06:06:39 PM
These extremly low odds are the worst thing you can possibly use on gambling websites.
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. There was a time I was accustomed to using fee odds to win big profits but anytime I use big odds, I do end up losing the bets. It works for some time until the strategy stop working. Although I enjoyed the profits for a while. I don't like greed that is why I don't use big odd to win big profits everytime.
But you are definitely right, manage your temper and your greed so that you don't have a big loss, the thing that causes you to become an empty pocket is that you are chasing your loss. Whatever happens, don't chase your loss because it may lead to frustration while gambling, and it can be out of your focus. So for me, gambling is based on luck and nothing more, stop when luck was not on your side.
February 08, 2023, 05:48:33 PM
These extremly low odds are the worst thing you can possibly use on gambling websites.
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. There was a time I was accustomed to using fee odds to win big profits but anytime I use big odds, I do end up losing the bets. It works for some time until the strategy stop working. Although I enjoyed the profits for a while. I don't like greed that is why I don't use big odd to win big profits everytime.
Mostly I go for low odds, so I can extend the gambling session for longer than usual, with my tight budget if I went for big enough odds I would probably only last playing less than 5 minutes before reaching my losing threshold. At least, with small odds I have got more control over what I am risking.
February 08, 2023, 05:32:37 PM
These extremly low odds are the worst thing you can possibly use on gambling websites.
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. There was a time I was accustomed to using fee odds to win big profits but anytime I use big odds, I do end up losing the bets. It works for some time until the strategy stop working. Although I enjoyed the profits for a while. I don't like greed that is why I don't use big odd to win big profits everytime.
February 08, 2023, 04:51:24 PM
Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will loose that amount and will not even blink.
You're right, mate. Only rich people can afford to spend enormous amounts of money, even for a single use of their money, for example, shopping.But for those who don't have much money, having 1M USD is still a dream and we will feel frustrated if we spend it only on gambling.
That kind of money can provide for our living needs for many years for people who live in countries where the cost of living is not high.
We can only learn from what others have obtained so that we can take what is good to apply to us and leave what is not good.
It's indeed, obvious that the gambler who did that is rich, many members here regretted that he made that bet, while the bettor himself can't see any regret or remorse for what he did.
For rich people, they won't feel the value of 1M$ but for those who aren't, of course maybe even just 20k$ is too much regret for us or maybe we haven't agreed to bet that amount too.
So it would really be a lesson learned for that guy who do make out huge bets on a game which does offer below 1.01 which i dont know on where they do really get up that much of idea
that its a 100% win even if its not.Small chances or even close to impossible could snip out and destroy the entire expecations.
February 08, 2023, 02:38:26 PM
Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will loose that amount and will not even blink.
You're right, mate. Only rich people can afford to spend enormous amounts of money, even for a single use of their money, for example, shopping.But for those who don't have much money, having 1M USD is still a dream and we will feel frustrated if we spend it only on gambling.
That kind of money can provide for our living needs for many years for people who live in countries where the cost of living is not high.
We can only learn from what others have obtained so that we can take what is good to apply to us and leave what is not good.
It's indeed, obvious that the gambler who did that is rich, many members here regretted that he made that bet, while the bettor himself can't see any regret or remorse for what he did.
For rich people, they won't feel the value of 1M$ but for those who aren't, of course maybe even just 20k$ is too much regret for us or maybe we haven't agreed to bet that amount too.
February 08, 2023, 11:59:35 AM
Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will loose that amount and will not even blink.
You're right, mate. Only rich people can afford to spend enormous amounts of money, even for a single use of their money, for example, shopping.But for those who don't have much money, having 1M USD is still a dream and we will feel frustrated if we spend it only on gambling.
That kind of money can provide for our living needs for many years for people who live in countries where the cost of living is not high.
We can only learn from what others have obtained so that we can take what is good to apply to us and leave what is not good.
It's indeed, obvious that the gambler who did that is rich, many members here regretted that he made that bet, while the bettor himself can't see any regret or remorse for what he did.
For rich people, they won't feel the value of 1M$ but for those who aren't, of course maybe even just 20k$ is too much regret for us or maybe we haven't agreed to bet that amount too.
February 08, 2023, 11:27:20 AM
These extremly low odds are the worst thing you can possibly use on gambling websites.
February 08, 2023, 11:01:14 AM
A gambling addict never realizes how risky it is and how much money a single bet is good for. Then they think that betting a big account will give a big amount of return and they will become rich in a very short time. But when he loses that big amount he can feel how big a mistake he made. And thus many lose everything and end up in huge debt or commit suicide.
In fact, being too obsessed with wealth from gambling is something that is really not recommended for gamblers because it will only give them big losses and losses.We don't know whether to win or lose in a game, even though we can still minimize the rate of defeat, not everyone can do it.
Some people can indeed make large amounts of money at gambling and even then they already have sufficient experience and knowledge in all games or bets.
So the option to get rich in an instant by relying on gambling is just a dream for those who are beginners or gamblers who only have money without any knowledge or strategy.
February 08, 2023, 10:38:33 AM
Quote
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)
This actually proves that low odds do not provide guaranteed returns when gambling. Although low odds are more likely to win, you should definitely not bet such a high amount for low odds bets. In addition, the importance of placing a bet by making a capital control for low-rate and guaranteed gambling is understood when such an amount is lost.
I had a similar situation before;
Just in the 10th minute of the soccer match, I saw 1.14 odds for a soccer bet that continued 1-1 as a result of the match and I gambled with 2 Bitcoins. In approximately 80 minutes it seemed almost certain that any team would score. However, the result of the match ended 1-1 and I was the loser in this gamble, which I expected as a guaranteed win.
So, having such a bad experience, I need to state very clearly that a low rate always means a high probability of winning, but it does not mean that you can make a guaranteed win.
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