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Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 37. (Read 8226 times)

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what you read is about Kid losing million in one night but what this topic tackled is 1.4 million in single bet and that is far different to compare mate, I will never let myself doing this even if I become millionaire in future .
I would rather give that amount to the poor and gamble only part of it than losing it to Gambling owner.
if there are other that can update us all what and whom that person doing now after this huge losing .
It would not be worth our effort to get that much money if only for gambling and I agreed to give that amount to the poor because the money would be more valuable for them to survive. That is why we must limit the money in gambling so that we do not lose more money. Thus, we can still gamble in moderation and have money for other things more important than just gambling. The person may go through a deep depression because they have lost so much money that we can't imagine it.
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.. I also think that the person is a multi-millionaire since he has the capacity to wager $1.4m without hesitation.
...
The moment he bet on that money, I think he is ready to accept that he can lose it.  How sure are you that he is not ready?  Did you talk to the guy?
$1.4m is a lot of money even for a multi-millionaire and no one will take losing such a huge amount of money lightly.
If he was indeed OK with the idea of losing it then am sure he would have bet on another game with higher odds.
Choosing a game with 1.01 odds is a sign he was looking for what he expected to be a sure win. Sadly for him, things didn't go as he was expecting.
Yeah, no one is stupid to bet that much and expect a loss, rich gamblers may don't care for $100k bets but 14x of this base amount should hurt them and it must have some consequences, IMHO. Especially choosing low multi and betting high may destroy yearly profit on rare matches so better stop adding low odd games on coupons let alone gambling $1.4mln on 1.01x odd.
You make a point there $1.4 millions lose is a huge amount to be lost in a bet and even rich gamblers will feel the impact of that amount on their balance sheet.
-We have seen how some rich guys gamble with huge amounts without minding the what others think or feel about the amount.
-I read some time ago how a rich kid gambled away an amount close to 30k+ million in a night out, and this incident raised a lot of discussions everywhere on the internet.
what you read is about Kid losing million in one night but what this topic tackled is 1.4 million in single bet and that is far different to compare mate, I will never let myself doing this even if I become millionaire in future .
I would rather give that amount to the poor and gamble only part of it than losing it to Gambling owner.
if there are other that can update us all what and whom that person doing now after this huge losing .
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Yeah, no one is stupid to bet that much and expect a loss, rich gamblers may don't care for $100k bets but 14x of this base amount should hurt them and it must have some consequences, IMHO. Especially choosing low multi and betting high may destroy yearly profit on rare matches so better stop adding low odd games on coupons let alone gambling $1.4mln on 1.01x odd.
You make a point there $1.4 millions lose is a huge amount to be lost in a bet and even rich gamblers will feel the impact of that amount on their balance sheet.
-We have seen how some rich guys gamble with huge amounts without minding the what others think or feel about the amount.
-I read some time ago how a rich kid gambled away an amount close to 30k+ million in a night out, and this incident raised a lot of discussions everywhere on the internet.
Do you have an article about this? I made a quick search and could not find more about this, as losing 30 million in a single night is unacceptable, even if the parents of the kid were billionaires that is an amount of money they cannot make back in a single day, so even their parents must have felt that loss.

In any case we must learn from these cases and remember that even if gambling is a very entertaining and interesting hobby, some limits must be set or our losses could grow to an unacceptable level.
legendary
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.. I also think that the person is a multi-millionaire since he has the capacity to wager $1.4m without hesitation.
...
The moment he bet on that money, I think he is ready to accept that he can lose it.  How sure are you that he is not ready?  Did you talked to the guy?
$1.4m is a lot of money even for a multi-millionaire and no one will take losing such huge amount of money lightly.
If he was indeed OK with the idea of losing it then am sure he would have bet on another game with higher odds.
Choosing a game with 1.01 odds is a sign he was looking for what he expected to be a sure win. Sadly for him, things didn't go as he was expecting.

Yes that's true, and we all totally agree with what you're saying. that $1.4 million, is a lot of money. even if converted to my local currency, that kind of money can buy quite a luxury property. but in fact, the man is risking money with a very fantastic value, even though the odds provided by the dealer are very low.

I doubt, if the man does not know the risks if what happens does not match his expectations. I'm pretty sure, that this guy often bets fantastic amounts. the reason is, he doesn't hesitate to bet $ 1.4 million at odds @ 1.01. hypothetically, only the financially wealthy would be happy to risk it. for us, that would be absolutely impossible.

But if we refer to the available odds reference, in theory, on paper this man should have a very high probability of winning from his bet. Unfortunately, in sports, anything can happen as long as the game is still going on and the fact is the guy lost. regardless of sad or not, the fact is we can't know for sure because after all we don't know the man's background.
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.. I also think that the person is a multi-millionaire since he has the capacity to wager $1.4m without hesitation.
...
The moment he bet on that money, I think he is ready to accept that he can lose it.  How sure are you that he is not ready?  Did you talk to the guy?
$1.4m is a lot of money even for a multi-millionaire and no one will take losing such a huge amount of money lightly.
If he was indeed OK with the idea of losing it then am sure he would have bet on another game with higher odds.
Choosing a game with 1.01 odds is a sign he was looking for what he expected to be a sure win. Sadly for him, things didn't go as he was expecting.
Yeah, no one is stupid to bet that much and expect a loss, rich gamblers may don't care for $100k bets but 14x of this base amount should hurt them and it must have some consequences, IMHO. Especially choosing low multi and betting high may destroy yearly profit on rare matches so better stop adding low odd games on coupons let alone gambling $1.4mln on 1.01x odd.
You make a point there $1.4 millions lose is a huge amount to be lost in a bet and even rich gamblers will feel the impact of that amount on their balance sheet.
-We have seen how some rich guys gamble with huge amounts without minding the what others think or feel about the amount.
-I read some time ago how a rich kid gambled away an amount close to 30k+ million in a night out, and this incident raised a lot of discussions everywhere on the internet.
legendary
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.. I also think that the person is a multi-millionaire since he has the capacity to wager $1.4m without hesitation.
...
The moment he bet on that money, I think he is ready to accept that he can lose it.  How sure are you that he is not ready?  Did you talked to the guy?
$1.4m is a lot of money even for a multi-millionaire and no one will take losing such huge amount of money lightly.
If he was indeed OK with the idea of losing it then am sure he would have bet on another game with higher odds.
Choosing a game with 1.01 odds is a sign he was looking for what he expected to be a sure win. Sadly for him, things didn't go as he was expecting.
Yeah no one is stupid to bet that much and expect loss, rich gamblers may don't care for $100k bets but 14x of this base amount should hurt them and it must have some consequences, IMHO. Especially choosing low multi and betting high may destroy yearly profit on rare matches so better stop adding low odd games on coupons let alone gambling $1.4mln on 1.01x odd.
Well, it their money then its their rules on how they would really be making use of it because not all would really be that sensible in towards their actions and its really that too dumb for someone to make out this kind of bet with having that very low odds or something not really that worth but since there are ones who could afford on doing so then let them be.It is really just that people would really be that amazed on how these fellas do able to afford on having this kind of huge bet.It is really just sad that on a 1.01 bet or odds did really make out some disastrous outcome which it isnt really that surprising considering that we are really that
indeed dealing with gambling world and this is how it works and possibly could happen.
legendary
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No he was playing small odds like 1.1 for over a couple of months until he got to 3000$ in total. Maybe I explained it bad sorry.
To win $3000 at 1.1 odds, he needs to bet a minimum of $2727.  It is never possible to get $3000 by betting 1.1 odds through $500.  You seem to have misunderstood or seen something wrong. 1.1 odd means 1.1x means you will get 1.1x return of the dollar bet if you win that bet and gambling sites will also deduct some maintenance charges from here. So how does he get $500 to $3000 with 1.1 odds lol

It's quite simple: by placing 50 bets of $500 at 1.1 odds he will win $2,500, assuming all the bets are successful. Now, the above scenario is an oversimplification, but it illustrates how a gambler can make $3000 from an initial $500.

Basically, I think you just didn't understand what JooBra was trying to say.


Indeed what Joobra stated is easily understood, since he said he was playing for over a couple of months thus, the player bet $500  several times on a 1.1 odds and accumulated $3000 winnings.  Surely coinerer failed to see and understand what JooBra is trying to convey.

.. I also think that the person is a multi-millionaire since he has the capacity to wager $1.4m without hesitation.
...
The moment he bet on that money, I think he is ready to accept that he can lose it.  How sure are you that he is not ready?  Did you talked to the guy?
$1.4m is a lot of money even for a multi-millionaire and no one will take losing such huge amount of money lightly.
If he was indeed OK with the idea of losing it then am sure he would have bet on another game with higher odds.
Choosing a game with 1.01 odds is a sign he was looking for what he expected to be a sure win. Sadly for him, things didn't go as he was expecting.

For sure the person is contemplating on how he lost that huge amount.  It maybe a small amount for the person who wager it but still million is million and not many people have it in their hands.  This story simly tells us that there is no sure win in gambling.
legendary
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.. I also think that the person is a multi-millionaire since he has the capacity to wager $1.4m without hesitation.
...
The moment he bet on that money, I think he is ready to accept that he can lose it.  How sure are you that he is not ready?  Did you talked to the guy?
$1.4m is a lot of money even for a multi-millionaire and no one will take losing such huge amount of money lightly.
If he was indeed OK with the idea of losing it then am sure he would have bet on another game with higher odds.
Choosing a game with 1.01 odds is a sign he was looking for what he expected to be a sure win. Sadly for him, things didn't go as he was expecting.
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No he was playing small odds like 1.1 for over a couple of months until he got to 3000$ in total. Maybe I explained it bad sorry.
To win $3000 at 1.1 odds, he needs to bet a minimum of $2727.  It is never possible to get $3000 by betting 1.1 odds through $500.  You seem to have misunderstood or seen something wrong. 1.1 odd means 1.1x means you will get 1.1x return of the dollar bet if you win that bet and gambling sites will also deduct some maintenance charges from here. So how does he get $500 to $3000 with 1.1 odds lol

It's quite simple: by placing 50 bets of $500 at 1.1 odds he will win $2,500, assuming all the bets are successful. Now, the above scenario is an oversimplification, but it illustrates how a gambler can make $3000 from an initial $500.

Basically, I think you just didn't understand what JooBra was trying to say.
legendary
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No one can completely avoid the risk of losing from any kind of gambling, including sports betting. I am a football fan and probably have spent a lot of time watching and enjoying it in different leagues. But about betting, it's clear to me that there is a risk that I should really consider even though the favorite seems to win the game more often.

The favorites can also lose at any time and we shouldn't be too sure and greedy in what we do. Especially in sports matches, the favorite number of the team can win luckily even quite rarely. But for the case above, I think the gambler only has to be responsible for the loss and the decision. I tended to make the same mistake in the past, it made me lose a lot of my previous wins because of just one defeat.
sr. member
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There are advantages and disadvantages to this type of betting. The advantage is that a larger amount of bet is almost guaranteed to win at these betting odds that means high possibility to gain and the disadvantage is that if you lose even one, you will lose a lot of money. But generally a gambler should not place large bets on such odds. However, these terms depend on the personal financial situation of the gambler. Moreover, we have to take risks. But if you take a risk with good betting odds, there will be higher amount of profit.
Yes you are correct that mate and also it is too risky if we but our very best bet for for the game cause there are only 50% win and loss so if your money will loss then thats a big loss for a gambler but if win then a lot of money will came. We nee to know that in the world of gambling it is very good idea to gambler if they gamble using thier exist money cause if not then it's a big problem if they will loss in the game.
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So it's better to have our own understanding about that specific game so that we can put our bet in very safe and prevent losing streak. But if we already knew That specific game it will lead us to a good bettors but  we all know that  every put our bet it will depends on our luck it because through our luck we will win. And also we all know that if we need to get higher profit then we will bet a big amount and take the risk for aiming the win.

I believe the user who made this kind of bet knew exactly what he is betting. Actually the bet type that choose is almost sure ball because there’s only few time left in the clock to made a 3 more successful goal. A 3 goal in soccer on the second half is very hard to do since both team is already exhausted while the goal keeper energy level is still the same since he is not running all the time.

Bad luck just him hard at that bet and that’s part of gambling since it’s not gambling if there’s no risk involved no matter how thorough you analyze a specific sports.

Indeed, right, almost a sure bet that's the reason why the odd is really small since the percentage of winning is almost a sure deal, but things happen like and no one can control the situation, if you'll going to look on it and you will assess that type of game where the time is really controlled by the team who have a good lead.

But, the outcome favors the underdog and if there's someone who is really a risk taker who bet for that underdog are surely enjoying the multipliers of his bet.

Gambling is itself risky and if you need to make a bet, then you should bet on odds which may gain you some money. Betting on odds with 1.01 is too much risky because when you will win you will get very small amount (depending upon you bet amount) but if you lose you will lose all your risked capital on that bet.

That is why we saw that the gambler mentioned in OP got over confident with 1.01 bet and unfortunately lost it all.
There are advantages and disadvantages to this type of betting. The advantage is that a larger amount of bet is almost guaranteed to win at these betting odds that means high possibility to gain and the disadvantage is that if you lose even one, you will lose a lot of money. But generally a gambler should not place large bets on such odds. However, these terms depend on the personal financial situation of the gambler. Moreover, we have to take risks. But if you take a risk with good betting odds, there will be higher amount of profit.
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Really a crazy idea to bet that way but I think he just want to test he's luck then try if you could win that since its a good win for him if luck is on his side. But tables turn down and he encounter a big losses so I guess its better luck next time to him, but I'm sure he regret those action he take because losing 1.4 million USD in a single bet is a bad experience to get a any gambler.
All is this thing's will happen to everyone of us if we can not control our self as we all know that in the world of gambling we must double and plan in our single moves because if greed will take our mind so there's no way out. Through greed we loss everything. And 1.4 million USD is quite big amount of money to loss and this gambler we can say is that his luck is not on his/her side for this time.
There are many who want to bet safe and bet at very low odds so that they can win the bet very easily.  And for low odds they have to bet a higher amount to get a better amount of profit.  So here this guy bet 1.4 million dollars at 1.01 Odd and if he won here he would have profited about $14,000.  But even with such an easy bet, he lost the bet and lost $1.4 million. This may be the cause of his bad luck.
I know a friend how did pretty similar thing on smaller scale, started with 500$ on safe bets and got to 3k after some time. At the end he lost on an bet when he placed live at score 1-0 (soccer 87min) that it would end with less then 3goals. In couple of minutes it was 3-1 at the end and he lost it all. The strategy can work but when to go out needs to be known.
A $500 to $3000 return means 6.00 Odd can never be a safe bet. That team was so weak that they scored a goal and offered 6 odd after 87 minutes of play.  Because they had no confidence that they would win the match.  So they offered high odds even at the last minute of the game. And it was a great trap for many to make big losses. And your friend fell victim to it too
No he was playing small odds like 1.1 for over a couple of months until he got to 3000$ in total. Maybe I explained it bad sorry.
To win $3000 at 1.1 odds, he needs to bet a minimum of $2727.  It is never possible to get $3000 by betting 1.1 odds through $500.  You seem to have misunderstood or seen something wrong. 1.1 odd means 1.1x means you will get 1.1x return of the dollar bet if you win that bet and gambling sites will also deduct some maintenance charges from here. So how does he get $500 to $3000 with 1.1 odds lol
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So it's better to have our own understanding about that specific game so that we can put our bet in very safe and prevent losing streak. But if we already knew That specific game it will lead us to a good bettors but  we all know that  every put our bet it will depends on our luck it because through our luck we will win. And also we all know that if we need to get higher profit then we will bet a big amount and take the risk for aiming the win.

I believe the user who made this kind of bet knew exactly what he is betting. Actually the bet type that choose is almost sure ball because there’s only few time left in the clock to made a 3 more successful goal. A 3 goal in soccer on the second half is very hard to do since both team is already exhausted while the goal keeper energy level is still the same since he is not running all the time.

Bad luck just him hard at that bet and that’s part of gambling since it’s not gambling if there’s no risk involved no matter how thorough you analyze a specific sports.

Indeed, right, almost a sure bet that's the reason why the odd is really small since the percentage of winning is almost a sure deal, but things happen like and no one can control the situation, if you'll going to look on it and you will assess that type of game where the time is really controlled by the team who have a good lead.

But, the outcome favors the underdog and if there's someone who is really a risk taker who bet for that underdog are surely enjoying the multipliers of his bet.

Gambling is itself risky and if you need to make a bet, then you should bet on odds which may gain you some money. Betting on odds with 1.01 is too much risky because when you will win you will get very small amount (depending upon you bet amount) but if you lose you will lose all your risked capital on that bet.

That is why we saw that the gambler mentioned in OP got over confident with 1.01 bet and unfortunately lost it all.
legendary
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So it's better to have our own understanding about that specific game so that we can put our bet in very safe and prevent losing streak. But if we already knew That specific game it will lead us to a good bettors but  we all know that  every put our bet it will depends on our luck it because through our luck we will win. And also we all know that if we need to get higher profit then we will bet a big amount and take the risk for aiming the win.

I believe the user who made this kind of bet knew exactly what he is betting. Actually the bet type that choose is almost sure ball because there’s only few time left in the clock to made a 3 more successful goal. A 3 goal in soccer on the second half is very hard to do since both team is already exhausted while the goal keeper energy level is still the same since he is not running all the time.

Bad luck just him hard at that bet and that’s part of gambling since it’s not gambling if there’s no risk involved no matter how thorough you analyze a specific sports.

Indeed, right, almost a sure bet that's the reason why the odd is really small since the percentage of winning is almost a sure deal, but things happen like and no one can control the situation, if you'll going to look on it and you will assess that type of game where the time is really controlled by the team who have a good lead.

But, the outcome favors the underdog and if there's someone who is really a risk taker who bet for that underdog are surely enjoying the multipliers of his bet.
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So it's better to have our own understanding about that specific game so that we can put our bet in very safe and prevent losing streak. But if we already knew That specific game it will lead us to a good bettors but  we all know that  every put our bet it will depends on our luck it because through our luck we will win. And also we all know that if we need to get higher profit then we will bet a big amount and take the risk for aiming the win.

I believe the user who made this kind of bet knew exactly what he is betting. Actually the bet type that choose is almost sure ball because there’s only few time left in the clock to made a 3 more successful goal. A 3 goal in soccer on the second half is very hard to do since both team is already exhausted while the goal keeper energy level is still the same since he is not running all the time.

Bad luck just him hard at that bet and that’s part of gambling since it’s not gambling if there’s no risk involved no matter how thorough you analyze a specific sports.
legendary
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~Snip~
Of course every gambler has experienced something where they dare to take risks because there is an opportunity to be able to win a lot of money, but I consider that kind of thing to be natural because every gambler definitely wants and has the option to be able to have large amounts of money from the results of the gambling he has do.
Only certain people can do budget calculations for gambling, not only rich gamblers, but even small gamblers who only have limited money will never be able to calculate their budget if they are really crazy about gambling and think gambling is everything for them.
In fact, they are not aware and think about how much betting money they will lose if they already have the option of getting rich or getting richer from the results of gambling.
I couldn't agree with you more that taking unnecessary risks while gambling can lead to disastrous financial outcomes. As a gambler, I know the rush that comes from taking chances, but we must always have our wits about us and not let the prospect of huge payouts cloud our judgement. Whether we are a modest or wealthy gambler, we must set and adhere to a budget. All too often, in the midst of the thrill of the moment, we fail to account for the financial risk that exists should our plans fail. We should exercise caution and bet wisely because even with a large bankroll, there is no assurance of large wins. Taking these precautions will allow us to experience the excitement of gambling while lowering the likelihood that we will sustain significant losses.
Even so, there are actually ways to minimize losing money when making large bets and I have studied and reset myself, but I just haven't tried implementing it.
That is, by betting large amounts on a game or bet that we really understand and fully understand, so that we can place bets that are absolutely right, in that way we can have a bigger chance of winning.
But we have to really study and really understand a game so we don't make a mistake in betting.
Maybe there are only a few gamblers who can master a game, but we can start to study it with the aim of being able to win large amounts.
And this method I only recommend for those who dare to take big risks.


So it's better to have our own understanding about that specific game so that we can put our bet in very safe and prevent losing streak. But if we already knew That specific game it will lead us to a good bettors but  we all know that  every put our bet it will depends on our luck it because through our luck we will win. And also we all know that if we need to get higher profit then we will bet a big amount and take the risk for aiming the win.
In as much risks differs in levels and heights, there is nothing as a safe bet as far as gambling and betting is concerned, you might find a bet that has a very low risk levels, which simply means there is a high chance of winning and a low chance of losing, so there is no bet that is a safe bet, in every bet we place, there is always a chance that we will lose it, though that chance is sometimes very low, still does not change the fact that there is a risk in it.
sr. member
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~Snip~
Of course every gambler has experienced something where they dare to take risks because there is an opportunity to be able to win a lot of money, but I consider that kind of thing to be natural because every gambler definitely wants and has the option to be able to have large amounts of money from the results of the gambling he has do.
Only certain people can do budget calculations for gambling, not only rich gamblers, but even small gamblers who only have limited money will never be able to calculate their budget if they are really crazy about gambling and think gambling is everything for them.
In fact, they are not aware and think about how much betting money they will lose if they already have the option of getting rich or getting richer from the results of gambling.
I couldn't agree with you more that taking unnecessary risks while gambling can lead to disastrous financial outcomes. As a gambler, I know the rush that comes from taking chances, but we must always have our wits about us and not let the prospect of huge payouts cloud our judgement. Whether we are a modest or wealthy gambler, we must set and adhere to a budget. All too often, in the midst of the thrill of the moment, we fail to account for the financial risk that exists should our plans fail. We should exercise caution and bet wisely because even with a large bankroll, there is no assurance of large wins. Taking these precautions will allow us to experience the excitement of gambling while lowering the likelihood that we will sustain significant losses.
Even so, there are actually ways to minimize losing money when making large bets and I have studied and reset myself, but I just haven't tried implementing it.
That is, by betting large amounts on a game or bet that we really understand and fully understand, so that we can place bets that are absolutely right, in that way we can have a bigger chance of winning.
But we have to really study and really understand a game so we don't make a mistake in betting.
Maybe there are only a few gamblers who can master a game, but we can start to study it with the aim of being able to win large amounts.
And this method I only recommend for those who dare to take big risks.


So it's better to have our own understanding about that specific game so that we can put our bet in very safe and prevent losing streak. But if we already knew That specific game it will lead us to a good bettors but  we all know that  every put our bet it will depends on our luck it because through our luck we will win. And also we all know that if we need to get higher profit then we will bet a big amount and take the risk for aiming the win.
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This is normal in gambling, it doesn't matter whether the fund amount is big or small. Maybe the gambler now realizes how risky it was to bet such a large amount. There is no such thing as low risk in gambling and this gambler's loss will warn many more gamblers to make decisions without being overconfident. After seeing this loss, I was horrified to see how important it is to know the risks involved before making any financial decision.
Well, maybe it's normal for those who are used to losing a lot of money in gambling.
But those who see it will probably blame him because he has used a lot of money to bet and we always recommend betting small amounts.
The risk of losing in gambling will always be there and we have to be smart in managing the risk so it doesn't become big.
If we can avoid the risk of losing huge amounts of money, we will always be careful when using money to gamble.
the involve person is truly a Millionaire and not giving a big issue about losing a Million dollar , but if he is a ordinary person that only got a chance having this amount once in a lifetime? surely he will regret this forever or maybe end his life for good.
and avoid losing? this is something we cannot predict in gambling owrld.
We don't know if he really is a millionaire or someone who has that kind of money and uses it for gambling with the hope that he can win a lot of money from gambling.
What is clear, it was the wrong decision, especially when using that much money.
If it were me, I would regret it for the rest of my life, blame myself, and probably wouldn't be able to face life.
That is the biggest risk of gambling that can make us bankrupt and unable to get up again.

This is normal in gambling, it doesn't matter whether the fund amount is big or small. Maybe the gambler now realizes how risky it was to bet such a large amount. There is no such thing as low risk in gambling and this gambler's loss will warn many more gamblers to make decisions without being overconfident. After seeing this loss, I was horrified to see how important it is to know the risks involved before making any financial decision.
Well, maybe it's normal for those who are used to losing a lot of money in gambling.
But those who see it will probably blame him because he has used a lot of money to bet and we always recommend betting small amounts.
The risk of losing in gambling will always be there and we have to be smart in managing the risk so it doesn't become big.
If we can avoid the risk of losing huge amounts of money, we will always be careful when using money to gamble.

He can afford to gamble with this amount of money which means he was a millionaire. Having millions of dollars and using them in the most risky places without any risk management is not a good decision. He had to pay a huge price to understand that there is never 100% sure in betting. So it was a great lesson for him to learn by losing millions of dollars. And his experience will make other gamblers more interested in risk management.
And that is also a good lesson for us not to gamble using a lot of money.
Without having risk management and self-control, we will only accept the risk of losing money without being able to recover the amount we lost before.
Even though we can win from gambling, it cannot make up for lost money.
Especially if there are people who hope to get money from gambling, they will find it difficult to get it.
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Of course every gambler has experienced something where they dare to take risks because there is an opportunity to be able to win a lot of money, but I consider that kind of thing to be natural because every gambler definitely wants and has the option to be able to have large amounts of money from the results of the gambling he has do.
Only certain people can do budget calculations for gambling, not only rich gamblers, but even small gamblers who only have limited money will never be able to calculate their budget if they are really crazy about gambling and think gambling is everything for them.
In fact, they are not aware and think about how much betting money they will lose if they already have the option of getting rich or getting richer from the results of gambling.
I couldn't agree with you more that taking unnecessary risks while gambling can lead to disastrous financial outcomes. As a gambler, I know the rush that comes from taking chances, but we must always have our wits about us and not let the prospect of huge payouts cloud our judgement. Whether we are a modest or wealthy gambler, we must set and adhere to a budget. All too often, in the midst of the thrill of the moment, we fail to account for the financial risk that exists should our plans fail. We should exercise caution and bet wisely because even with a large bankroll, there is no assurance of large wins. Taking these precautions will allow us to experience the excitement of gambling while lowering the likelihood that we will sustain significant losses.
Even so, there are actually ways to minimize losing money when making large bets and I have studied and reset myself, but I just haven't tried implementing it.
That is, by betting large amounts on a game or bet that we really understand and fully understand, so that we can place bets that are absolutely right, in that way we can have a bigger chance of winning.
But we have to really study and really understand a game so we don't make a mistake in betting.
Maybe there are only a few gamblers who can master a game, but we can start to study it with the aim of being able to win large amounts.
And this method I only recommend for those who dare to take big risks.
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