I dont have to read the whole thread to realized we have all the same thinking here no?
Minimum odds or put ever in the favorite one its the best way to a disaster and no making any profit in gambling in the long term.
The only way to make profit in gambling its with high odds and a master in timing the bets.
Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 35. (Read 6572 times)
February 07, 2023, 03:07:23 PM
February 07, 2023, 02:39:08 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.
February 07, 2023, 02:29:33 PM
If you can consider rich people to be greedy how the heck did they end up becoming rich? I do not believe that rich people are greedy because they know how to put their money at work, they are the most patience in the whole world, they invest and easily expect results after several years later, poor people can't do this, to me the poor are the most greedy because they can't let go, they find it hard to invest money, they find it hard to take risks.
Lol. What the heck are you going on about? Greed is the primary reason why so many rich people stay rich. They usually aren't satisfied no matter how much money they have which is why they keep getting richer and richer.Also, all rich people aren't patient. Elon Musk is a great example in this case. Do your research!
February 07, 2023, 01:07:16 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, 10:43:20 AM
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.
Observed so many people in this thread thinking that this gambler might not have cared much about this loss because he could have been a whale, but I completely disagree since it's still a lot of money for them too at the end of the day.Rich people are usually more greedy when compared to poor people. Whether this gambler was a whale or not, this loss most probably affected him/her in a big way.
I agree with this. Despite being a gambler that has a huge money at his disposal, at the end of the day, if he lost a huge amount, it's still a loss and definitely it will still sting no matter how many money he has left. Although maybe if he has so much to the point that he doesn't care at all, it will be okay. However, collective losses will sum up to a huge loss too if you will compute it. Hence, it's much better to gamble responsibly and with caution to avoid losing especially if it involves a big amount.
Risking a huge amount just for the sake of betting without really assessing the situation will just result to possible losses. Miscalculation can also put you into a great risk. Gamblers must still place bets and play with strategy in mind, prepared for any outcome - better or worst.
I'm more into a good confidence with the gambler who bet that huge amount, thinking that it was an easy money to take after placing his bet with a 99% winning chance, more in a live betting in which the chances of losing is really far from reality, but look what happened, even how confident you are with the kind of betting that you take, something still can happen during the game, nothing can avoid bad luck and that's what this gambler experienced, a very bad luck that resulted him to lose that huge amount of money.
February 07, 2023, 09:38:38 AM
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.
Observed so many people in this thread thinking that this gambler might not have cared much about this loss because he could have been a whale, but I completely disagree since it's still a lot of money for them too at the end of the day.Rich people are usually more greedy when compared to poor people. Whether this gambler was a whale or not, this loss most probably affected him/her in a big way.
I agree with this. Despite being a gambler that has a huge money at his disposal, at the end of the day, if he lost a huge amount, it's still a loss and definitely it will still sting no matter how many money he has left. Although maybe if he has so much to the point that he doesn't care at all, it will be okay. However, collective losses will sum up to a huge loss too if you will compute it. Hence, it's much better to gamble responsibly and with caution to avoid losing especially if it involves a big amount.
Risking a huge amount just for the sake of betting without really assessing the situation will just result to possible losses. Miscalculation can also put you into a great risk. Gamblers must still place bets and play with strategy in mind, prepared for any outcome - better or worst.
I'm more into a good confidence with the gambler who bet that huge amount, thinking that it was an easy money to take after placing his bet with a 99% winning chance, more in a live betting in which the chances of losing is really far from reality, but look what happened, even how confident you are with the kind of betting that you take, something still can happen during the game, nothing can avoid bad luck and that's what this gambler experienced, a very bad luck that resulted him to lose that huge amount of money.
February 07, 2023, 07:59:43 AM
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 about winning $11,200 in exchange for risking over a million.
Observed so many people in this thread thinking that this gambler might not have cared much about this loss because he could have been a whale, but I completely disagree since it's still a lot of money for them too at the end of the day.Rich people are usually more greedy when compared to poor people. Whether this gambler was a whale or not, this loss most probably affected him/her in a big way.
There are still rich people that are greedy but at the same time smart, greedy in the way that they can still earn huge money, but with the poor, they can't be greedy because they don't have enough money to chase things, but if you say they will borrow money, that is another term as they are addicted to it. Back to the topic, it is impossible for someone who doesn't get affected by the loss, even if you are rich, because you take good care of your money, which is why you get rich. That is still a huge amount, if we are saying thousands, unless he is a spoiled brat.
February 07, 2023, 06:50:15 AM
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.
Observed so many people in this thread thinking that this gambler might not have cared much about this loss because he could have been a whale, but I completely disagree since it's still a lot of money for them too at the end of the day.Rich people are usually more greedy when compared to poor people. Whether this gambler was a whale or not, this loss most probably affected him/her in a big way.
I agree with this. Despite being a gambler that has a huge money at his disposal, at the end of the day, if he lost a huge amount, it's still a loss and definitely it will still sting no matter how many money he has left. Although maybe if he has so much to the point that he doesn't care at all, it will be okay. However, collective losses will sum up to a huge loss too if you will compute it. Hence, it's much better to gamble responsibly and with caution to avoid losing especially if it involves a big amount.
Risking a huge amount just for the sake of betting without really assessing the situation will just result to possible losses. Miscalculation can also put you into a great risk. Gamblers must still place bets and play with strategy in mind, prepared for any outcome - better or worst.
February 07, 2023, 03:53:52 AM
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 about winning $11,200 in exchange for risking over a million.
Observed so many people in this thread thinking that this gambler might not have cared much about this loss because he could have been a whale, but I completely disagree since it's still a lot of money for them too at the end of the day.Rich people are usually more greedy when compared to poor people. Whether this gambler was a whale or not, this loss most probably affected him/her in a big way.
February 07, 2023, 03:52:47 AM
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.
Observed so many people in this thread thinking that this gambler might not have cared much about this loss because he could have been a whale, but I completely disagree since it's still a lot of money for them too at the end of the day.Rich people are usually more greedy when compared to poor people. Whether this gambler was a whale or not, this loss most probably affected him/her in a big way.
February 07, 2023, 03:08:15 AM
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.
Observed so many people in this thread thinking that this gambler might not have cared much about this loss because he could have been a whale, but I completely disagree since it's still a lot of money for them too at the end of the day.Rich people are usually more greedy when compared to poor people. Whether this gambler was a whale or not, this loss most probably affected him/her in a big way.
February 07, 2023, 02:16:28 AM
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.
Observed so many people in this thread thinking that this gambler might not have cared much about this loss because he could have been a whale, but I completely disagree since it's still a lot of money for them too at the end of the day.Rich people are usually more greedy when compared to poor people. Whether this gambler was a whale or not, this loss most probably affected him/her in a big way.
February 06, 2023, 08:46:53 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...
February 06, 2023, 06:29:33 PM
Sometimes the reason why the gambler loses that kind of money may be because of addictive urge to gambling.
We need to be very satisfied with way we gamble even though we had some loses we need to make sure that we leave gambling when we have made some profits or when we have had some loses.
It is not good to keep gambling for long.
From what I've noticed so far I will say that when some people get locked into their gambling of the things you that they have not go through the platform and the game exactly there are playing before they have to stick their sleep so that is one of the things that make some people to lose in gambling it is very necessary can someone be losing gambling and someone can also make it in gamblingWe need to be very satisfied with way we gamble even though we had some loses we need to make sure that we leave gambling when we have made some profits or when we have had some loses.
It is not good to keep gambling for long.
February 06, 2023, 06:14:03 PM
Just a thought... Could you imagine if he took the other side of that bet by accident? Imagine the pain as he pressed the button only to realize he'd made a mistake and bet against impossible odds... The horror and rush of emotions... Then to find out you just won hundreds of millions of dollars through the mistake. That would have been absolutely epic. Probably enough to give the guy a heart attack. Still, a click of a button only an inch the other way and it could have been life changing for the good instead of the bad. What a story that would have been.
That would have been an awesome scenario, and while not exactly like that whenever there is a huge upset we hear of gamblers making a fortune in a single bet, the most recent instance of this which comes to mind is the first fight of Ruiz vs Joshua in which Joshua was to overwhelming favorite only to be upset by Ruiz, and if remember correctly some casinos admitted they even lost money due to the outcome of the fight.Whom had really have thought? Its really understandable that bookies would really be going after on things that would benefit them the most but due to some circumstances where
results and outcomes is really totally opposite on what we are expecting.For those who do bet up on underdogs are really that getting soo much profits.
Whom had thought?
February 06, 2023, 06:13:26 PM
- We can't do anything about that mate, it's obvious that the bettor who did that is a rich person who has a penchant for wasting money on gambling.
Most people indeed regret the amount of the loss because with 1M$ you can live a simple life that is not difficult, and have a business and a car no matter what the truth is, but in reality, it seems like nothing and just like a coin to him.
*If you want to less you risk of losing huge one need to set limits to how much you can roll in a night or seating.
*Having a set target and if that target is not meant, there is no need to force it.
*One million dollars is quite a big amount that will go e one a decent life in most parts of the world.
February 06, 2023, 05:29:08 PM
Just a thought... Could you imagine if he took the other side of that bet by accident? Imagine the pain as he pressed the button only to realize he'd made a mistake and bet against impossible odds... The horror and rush of emotions... Then to find out you just won hundreds of millions of dollars through the mistake. That would have been absolutely epic. Probably enough to give the guy a heart attack. Still, a click of a button only an inch the other way and it could have been life changing for the good instead of the bad. What a story that would have been.
That would have been an awesome scenario, and while not exactly like that whenever there is a huge upset we hear of gamblers making a fortune in a single bet, the most recent instance of this which comes to mind is the first fight of Ruiz vs Joshua in which Joshua was to overwhelming favorite only to be upset by Ruiz, and if I remember correctly some casinos admitted they even lost money due to the outcome of the fight. February 06, 2023, 05:27:55 PM
Sometimes the reason why the gambler loses that kind of money may be because of addictive urge to gambling.
We need to be very satisfied with way we gamble even though we had some loses we need to make sure that we leave gambling when we have made some profits or when we have had some loses.
It is not good to keep gambling for long.
From what I've noticed so far I will say that when some people get locked into their gambling of the things you that they have not go through the platform and the game exactly there are playing before they have to stick their sleep so that is one of the things that make some people to lose in gambling it is very necessary can someone be losing gambling and someone can also make it in gambling We need to be very satisfied with way we gamble even though we had some loses we need to make sure that we leave gambling when we have made some profits or when we have had some loses.
It is not good to keep gambling for long.
February 06, 2023, 03:33:15 PM
Just a thought... Could you imagine if he took the other side of that bet by accident? Imagine the pain as he pressed the button only to realize he'd made a mistake and bet against impossible odds... The horror and rush of emotions... Then to find out you just won hundreds of millions of dollars through the mistake. That would have been absolutely epic. Probably enough to give the guy a heart attack. Still, a click of a button only an inch the other way and it could have been life changing for the good instead of the bad. What a story that would have been.
February 06, 2023, 03:29:16 PM
Op's topic is a good example that even you pick 99% of winning you can still lose your bet and there's nothing you can do to change the outcome once it's already been concluded.
Upset really happened. Actually, it's not about the upset but I just can't believe someone is willing to gamble millions of money when in fact the return is only a few thousand. Even if that's a 99% chance of winning, I can't easily just put my million in a gambling site for betting when the return is just a few amounts.
Not saying that the bettor is dumb but with that amount, he can diversify it thru several bets playing at the odds of around 1.5.
I'd rather bet on odds as high as @2 instead of going all-in at @1.01.
- We can't do anything about that mate, it's obvious that the bettor who did that is a rich person who has a penchant for wasting money on gambling.
Most people indeed regret the amount of the loss because with 1M$ you can live a simple life that is not difficult, and have a business and a car no matter what the truth is, but in reality, it seems like nothing and just like a coin to him.
We need to be very satisfied with way we gamble even though we had some loses we need to make sure that we leave gambling when we have made some profits or when we have had some loses.
It is not good to keep gambling for long.
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