I just read a comment on the Roobet thread here this is the link: https://bitcointalksearch.org/topic/m.61729330
The player won a huge amount in a bet on slot this is very important in to mention so that we all can be aware, that as there are big losers so are their big winners who are hitting jackpot at regular intervals so the player option to bet a bet worth $1.4 million is justifiable and sane to practice since he did not know what the outcome will be when but now it is clear to him since he lost and he now knows his faith.
Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 34. (Read 6572 times)
February 08, 2023, 10:33:18 AM
February 08, 2023, 10:15:44 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.
Same with you, that huge amount can be a fortune to someone who's living in a third word country, it can provide luxuries for a longer period especially if the person are capable of establishing a business that can really give them continuous sources of incomes, though, it's also true that there's people like the gambler who lose that huge amount who can let it go and continue playing.
in my country 1 million dollars can be enough to support me and my family for up to 10 years or more if you build a business at the same time, lol
but that's how rich people play when they want to get a little profit they dare to spend big capital and they don't think they will lose big money too in their bets
Like what I said, if the person who have that huge amount of money who's living in a place where cost of living is not that much, they can put up business and investment that can bring more income, in terms of gambler who can lose that amount, either a whale or an addicted gambler who can embrace that risk.
February 08, 2023, 08:55:28 AM
It is never advisable to use mine one can't afford to lose to gamble and I really can't tell if tye money used was for gambling purpose alone because we've heard cases of people who have lost very huge sum of money just in gambling and it never moved them and maybe that might be the case with this user that lost.
And this very situation has thought me something that nothing is certain in gambling and anything can happen and I guess tye gambler was so over certain of what he wanted to play and finally got disappointed at the end.
This is a wake up call to gamblers never to use money they can't afford to lose and that anything can happen at anytime
And this very situation has thought me something that nothing is certain in gambling and anything can happen and I guess tye gambler was so over certain of what he wanted to play and finally got disappointed at the end.
This is a wake up call to gamblers never to use money they can't afford to lose and that anything can happen at anytime
February 08, 2023, 08:19:20 AM
I dont know why most comments here are blaming the man for gambling away such an amount on a bet, but we have failed to know if the man is a jack pit holdwr and is still out to increase his winning by trying out his luck on varieties of games and this time his luck has not to shine that is why he lost 1.4 million dollars in a bet.
February 08, 2023, 07:41:35 AM
https://nypost.com/2023/01/15/gambler-loses-massive-1-4-million-bet-on-chargers-jaguars-game/
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?
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?
I wonder whether there is some easy conclusion to be drawn that the player was addicted. We don't know his bankroll and maybe he doesn't even bother because he has billions, but if it was a substantial amount for that person, would it ever make sense to place a bet of that size at all? Saying that this person wanted to play it safe would only apply if that amount of $1.4 million is within his perfect bankroll management range. Otherwise, if someone is seeking the kick in putting up $1.4 million for the chance of winning $11,200, I would think that there is some loss of control at play because nobody would care winning $11,200 in exchange for risking over a million.
That's a crazy story either way and as you already put it, there is no such thing as a 100% safe bet ever unless you are hedging somehow. But this one ended with way more than a punch in the face...
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.
As impossible as it may sound, yes there are really people like this who have so much they wouldn't totally care nor even notice that they already loss a massive amount, at least for our perspective because they have so much at their disposal. These are the few lucky ones who are really considered elites and are very much wealthy, not just wealthy, but way beyond. If they don't feel any remorse or regret about risking then losing, then most probably it's just a small amount that they can always earn after a while.
Perhaps those rich people who still feel the guilt are the ones who just understand the value of what they lost after they lost it, realizing that it is indeed a big money still. I encounter more if this one rather the first one though personally speaking and in general matter, not only in gambling but also in risking to other things.
February 08, 2023, 05:39:02 AM
1 million dollar is a lot of money to some people but to other it has a small fraction which can easily be bet away or spent in a night out, but the we should also consider other factors that may have lead to this incident, first we should consider the gambler previous gambling history and how much he have won or lost in the past.
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.
in my country 1 million dollars can be enough to support me and my family for up to 10 years or more if you build a business at the same time, lol
but that's how rich people play when they want to get a little profit they dare to spend big capital and they don't think they will lose big money too in their bets
Even though the money is enough to set many people out of financial struggle for many years, there are still other risk factors that we must consider, such as risk of unplanned incidents that can eat up that money, and what is the possibility of one not losing such an amount into a bad business.
So ultimately we should learn just one lesson from this which is, setting limits to all that we do as it involves money it doesn't matter the level of risk, let's make it a principle.
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. 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 a 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 lose 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.
but that's how rich people play when they want to get a little profit they dare to spend big capital and they don't think they will lose big money too in their bets
So ultimately we should learn just one lesson from this which is, setting limits to all that we do as it involves money it doesn't matter the level of risk, let's make it a principle.
February 08, 2023, 05:28:11 AM
1 million dollar is a lot of money to some people but to other it has a small fraction which can easily be bet away or spent in a night out, but the we should also consider other factors that may have lead to this incident, first we should consider the gambler previous gambling history and how much he have won or lost in the past.
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.
in my country 1 million dollars can be enough to support me and my family for up to 10 years or more if you build a business at the same time, lol
but that's how rich people play when they want to get a little profit they dare to spend big capital and they don't think they will lose big money too in their bets
Even though the money is enough to set many people out of financial struggle for many years, there are still other risk factors that we must consider, such as risk of unplanned incidents that can eat up that money, and what is the possibility of one not losing such an amount into a bad business.
So ultimately we should learn just one lesson from this which is, setting limits to all that we do as it involves money it doesn't matter the level of risk, let's make it a principle.
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 a 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 lose 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.
but that's how rich people play when they want to get a little profit they dare to spend big capital and they don't think they will lose big money too in their bets
So ultimately we should learn just one lesson from this which is, setting limits to all that we do as it involves money it doesn't matter the level of risk, let's make it a principle.
February 08, 2023, 04:00:53 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.
but that's how rich people play when they want to get a little profit they dare to spend big capital and they don't think they will lose big money too in their bets
February 08, 2023, 03:52:19 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.Quote
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.
1 million is so much money actually mate, and that is something that only few can make in their entire life.Quote
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.
well, He already lose that amount and yes surely he is regretting that decision all His life.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.
February 08, 2023, 03:06:13 AM
1 million is so much money actually mate, and that is something that only few can make in their entire life.
Some people won't make it at all in their entire lifetime.
Crazy, huh?
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)
Try the same with horse racing, going against horses that can trade 1000 to 1 in the exchange (which is 1.001, less than 1.008) - you would find "losers" there as well, it could happen also in other type of sports and more. Unpredictable events are random - that's how gambling works, based on this randomality ... if you have an edge you can surely exploit it for much more than 1.008 - low odds are never a way to make money unless you created a secret formula somehow.
Sportsbooks are even the best place to gain more often than casinos and using your head well when you have big money is the key. In this way, you will continue to make your cool money forever.
February 08, 2023, 02:30:49 AM
1 million is so much money actually mate, and that is something that only few can make in their entire life.
Some people won't make it at all in their entire lifetime.
Crazy, huh?
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)
Try the same with horse racing, going against horses that can trade 1000 to 1 in the exchange (which is 1.001, less than 1.008) - you would find "losers" there as well, it could happen also in other type of sports and more. Unpredictable events are random - that's how gambling works, based on this randomality ... if you have an edge you can surely exploit it for much more than 1.008 - low odds are never a way to make money unless you created a secret formula somehow.
February 08, 2023, 01:50:59 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.Quote
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.
1 million is so much money actually mate, and that is something that only few can make in their entire life.Quote
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.
well, He already lose that amount and yes surely he is regretting that decision all His life. 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.
February 08, 2023, 12:45:31 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.
February 07, 2023, 07:17:21 PM
https://nypost.com/2023/01/15/gambler-loses-massive-1-4-million-bet-on-chargers-jaguars-game/
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?
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?
I wonder whether there is some easy conclusion to be drawn that the player was addicted. We don't know his bankroll and maybe he doesn't even bother because he has billions, but if it was a substantial amount for that person, would it ever make sense to place a bet of that size at all? Saying that this person wanted to play it safe would only apply if that amount of $1.4 million is within his perfect bankroll management range. Otherwise, if someone is seeking the kick in putting up $1.4 million for the chance of winning $11,200, I would think that there is some loss of control at play because nobody would care winning $11,200 in exchange for risking over a million.
That's a crazy story either way and as you already put it, there is no such thing as a 100% safe bet ever unless you are hedging somehow. But this one ended with way more than a punch in the face...
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.
legendary
Activity: 2254
Merit: 1052
Leading Crypto Sports Betting & Casino Platform
February 07, 2023, 04:51:02 PM
I actually not surprise with that, though 1.4M is really a lot of money to be lose on a 1.01 odds. I remember when some user bet a 100+ BTC on bustabit and loses so no matter how low the odds is you will definitely lose if luck is not on your side. I actually tried it before (not with big amount) but with my whole bankroll to place bet on a crash game with the automatic withdraw at a multiplier of 1.1 and in just around 3 rounds I lose my whole bankroll.
That's really a big risk and a very sad one you lost it, but that don't mean you should stop gambling, keep on trying but this time not with your whole money, just an amount that won't really hurt you when lost , I rather take a multiplier of 3 odds and loose it than take a multiplier of 1.1 odds tho, I juts love taking risks in gamble and have been winning most times
One thing I believe is that risk are of two types, foolish risk and wise risk, wise risk is knowing which bet will bring in the win and going for it even if the odd is low, I think it's better to win consistently and on regular basis than win big once after a while of having lost lots of money chasing the high odds.
This is just my thought though, I believe we are all entitled to our opinions.
February 07, 2023, 04:37:57 PM
I wonder whether there is some easy conclusion to be drawn that the player was addicted. We don't know his bankroll and maybe he doesn't even bother because he has billions, but if it was a substantial amount for that person, would it ever make sense to place a bet of that size at all? Saying that this person wanted to play it safe would only apply if that amount of $1.4 million is within his perfect bankroll management range. Otherwise, if someone is seeking the kick in putting up $1.4 million for the chance of winning $11,200, I would think that there is some loss of control at play because nobody would care winning $11,200 in exchange for risking over a million.
That's a crazy story either way and as you already put it, there is no such thing as a 100% safe bet ever unless you are hedging somehow. But this one ended with way more than a punch in the face...
That's a crazy story either way and as you already put it, there is no such thing as a 100% safe bet ever unless you are hedging somehow. But this one ended with way more than a punch in the face...
I have some friends who are quite rich, they can bet with high rollers, even with low odds. in theory, with odds @1.01 provided by the dealer. the team that is seeded almost 99% has an absolute victory. so do not be surprised if there is a gambler betting a very large amount. The problem is, we don't know the background of the man described in this thread. maybe, this man is a big fan of one of the teams that will compete. So, I'm not too sure that in this case it's addiction related.
For us, or maybe for some people. to bet with the amount of 1.4 million USD with low odds is something really crazy. because of the way we think, that the results obtained are not worth the money at stake. however, every gambler has a different perspective. but back again as I said, this man is willing to bet with very big money, because in theory, the team that is chosen as the bet has almost 99% victory. if we look at it in terms of capital issued, maybe it's not worth it. but because the win ratio is very high. this man believes, that he will win his bet. after all, $ 11k is not a small amount. moreover, he can get it in a matter of hours. the point is, this guy is totally unlucky and because he lost his gamble.
February 07, 2023, 04:33:41 PM
What makes me curious is that the score in first half was 27-0. Usually, in similar situation, every casino blocks bet option on live event on team that wins but instead significantly increases odd on the team that loses. That's what I have seen myself. It looks a little bit strange for me that they even left 1.01 odd on that team instead of blocking the bet option on them.
By the way, everyone ignores that 0.1% chance of win doesn't mean that 99.9% chance of lose won't happen. It's either 100% that's guaranteed or 99.9% always has a chance to shine. The risk this man took in this match looks logical for me, I would do the same but to be honest, he will have better chances and profits if he choose trading with 10% leverage and bets on 0.01% price increase that will definitely happen in a second and then immediately closes the account.
By the way, everyone ignores that 0.1% chance of win doesn't mean that 99.9% chance of lose won't happen. It's either 100% that's guaranteed or 99.9% always has a chance to shine. The risk this man took in this match looks logical for me, I would do the same but to be honest, he will have better chances and profits if he choose trading with 10% leverage and bets on 0.01% price increase that will definitely happen in a second and then immediately closes the account.
February 07, 2023, 04:28:17 PM
what your opinion about this gambling issue? did you had experience similar experience? how a good gambler should avoid such mistakes?
Maybe it's a penny for the bettor or he/she is a problem gambler too before or after this bet even with huge probability of winning. We never know if he is at losing streak then decide to go all in with the huge amount in his bankroll thinking he could be at breakeven or incur a small loss, but it doesn't happened. Never had I ever to experience such huge amount of loss but if something like the scenario I gave, I did. I think good gambler can still make the same mistake here but a wise gambler would think that there's still tomorrow to bet for.
February 07, 2023, 04:18:52 PM
I actually not surprise with that, though 1.4M is really a lot of money to be lose on a 1.01 odds. I remember when some user bet a 100+ BTC on bustabit and loses so no matter how low the odds is you will definitely lose if luck is not on your side. I actually tried it before (not with big amount) but with my whole bankroll to place bet on a crash game with the automatic withdraw at a multiplier of 1.1 and in just around 3 rounds I lose my whole bankroll.
That's really a big risk and a very sad one you lost it, but that don't mean you should stop gambling, keep on trying but this time not with your whole money, just an amount that won't really hurt you when lost , I rather take a multiplier of 3 odds and loose it than take a multiplier of 1.1 odds tho, I juts love taking risks in gamble and have been winning most times
legendary
Activity: 2254
Merit: 1052
Leading Crypto Sports Betting & Casino Platform
February 07, 2023, 03:17:49 PM
what your opinion about this gambling issue? did you had experience similar experience? how a good gambler should avoid such mistakes?
Maybe it's a penny for the bettor or he/she is a problem gambler too before or after this bet even with huge probability of winning. We never know if he is at losing streak then decide to go all in with the huge amount in his bankroll thinking he could be at breakeven or incur a small loss, but it doesn't happened. Never had I ever to experience such huge amount of loss but if something like the scenario I gave, I did. I think good gambler can still make the same mistake here but a wise gambler would think that there's still tomorrow to bet for.
I think the main problem is that you need to have discipline and there will always be moments where you start to tilt. You know it is stupid to do, but sometimes you just have a bad streak and you want to win it back and than you do crazy stuff.
Jump to: