Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 4.

pawel7777

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Quote from: Fivestar4everMVP on April 18, 2023, 03:33:12 PM

Exactly on point, and by the way, the person was not going to win $14,000 but $11,000, this is if I am right with my calculations though.

Correct. $11,200 to be precise, as the payout was actually 1.008 not 1.01.

Quote from: Fivestar4everMVP on April 18, 2023, 03:33:12 PM

I have said it here before that, it would take some one with already a good experience in gambling to wager such an amount on a single bet, he or she is sure not a novice to gambling, and speaking of having respect for money, this like you said, depends on how the money was made, and I also think that emotional (could be spiritual or physical emotion) state of the person at the time of bet also has an important role to play, because I believe that even though money was made easily, its still not a reason to risk such a huge amount in a single bet, not even to win millions or dollar, but a mere $11,000, what is $11,000 compared to $1.4 million dollars?

Personally, I don't think he was very experienced, if he was he would probably know that you can get badly burned by betting on massive favorites, but I'd be guessing he had done that few times before (probably with smaller amounts), was successful and got carried away. It's way easier to stop gambling after a big loss than after a series of wins.

And I suspect he might have gambled with money that wasn't quite his or that he held for some purpose (business funds etc), for the reasons I stated in the previous post (he saw $11,000 as a reward worth the risk).

Wiwo

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Quote from: ufaiz50 on April 19, 2023, 06:27:01 AM

Why would people place bet with a big amount where the chance of winning is just 1.01 odds that was really stupid if you are going to think of it. But I understand that he wants to make easy money with that big amount but look what happened right? If I have that kind of money I would just rather enjoy things myself than risking it, I'll secured it or invest it somewhere. By just reading, it really hurts, what more if you are that person right?

I think you have missed the point of odds calculations and according to sport bet odds calculation 1.01 is a sure odd and the tendency of winning is almost 99% but luck was not in the gambler's favour which is why he lost even with the 1% losing potency and this is why we must also rely on luck to win some time and this incident is a good example of the role of luck in gambling.

But also for sure, we can not advise anyone to stake such a huge amount on a game bit then some people tend to take high risks and this situation has thought us some lessons.

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Quote from: babygun on April 18, 2023, 09:32:46 PM

Quote from: Mr.right85 on April 18, 2023, 07:08:39 PM

It was a bad bet but, not one without consideration I suppose its the gamblers betting style and must have been building his fortune around this style of betting.
Betting on live events and in favour of a team that is already at advantage with some obvious seeming wins.

Unfortunately, it doesn't always go down this way. There is always risk until the whistle goes out for a game over.

A $1.4k bet against an $11k win is just way too low to risk. Let's hope this gambler has hot more from where that came from else, the gambler is done for.

He is a high roller for sure that can miss the money. This bet also clearly shows that there is no « surebet » and that there is no value at all in placing bets on this low odds. In fact all odds below 1.5 are low for me as I prefer valuebets.

A gambler's perspective may differ from other gamblers. Whether betting odds are low or high that doesn't fact but a gambler has to bet based on his certainty of winning. One should not bet on such small odds that if he wins it will have no effect but if he loses he will be in big trouble. Every bet will have risk and gambler should accept that risk simultaneously bet at a good betting odds. There is no 100% certainty in gambling. If one bets with 100% certainty then that gambler may face defeat in his bet.

ufaiz50

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Why would people place bet with a big amount where the chance of winning is just 1.01 odds that was really stupid if you are going to think of it. But I understand that he wants to make easy money with that big amount but look what happened right? If I have that kind of money I would just rather enjoy things myself than risking it, I'll secured it or invest it somewhere. By just reading, it really hurts, what more if you are that person right?

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Quote from: babygun on April 18, 2023, 09:32:46 PM

Quote from: Mr.right85 on April 18, 2023, 07:08:39 PM

It was a bad bet but, not one without consideration I suppose its the gamblers betting style and must have been building his fortune around this style of betting.
Betting on live events and in favour of a team that is already at advantage with some obvious seeming wins.

Unfortunately, it doesn't always go down this way. There is always risk until the whistle goes out for a game over.

A $1.4k bet against an $11k win is just way too low to risk. Let's hope this gambler has hot more from where that came from else, the gambler is done for.

He is a high roller for sure that can miss the money. This bet also clearly shows that there is no « surebet » and that there is no value at all in placing bets on this low odds. In fact all odds below 1.5 are low for me as I prefer valuebets.

Nothing at all, if luck will not permit then even how sure you think you are the outcome will not be turning to direction that you expect it to be, it's really hard to predict every games outcome even during live events where the team or player you pick already have a good advantage but if shit happened, you will still go to lose your bet.

That's exactly what happens with this high bet, taking 99.09 percent winning chance, but the outcome did not please the player.

Negotiation

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Yes it is possible to avoid risk if one knows well about gambling before starting gambling. Many people get greedy and lose everything because they don't risk money you have to start the game with small bets first. If you start with big bad you are more likely to lose in the first round it will disappoint you. So start playing with small amount of bets first and choose a good quality casino platform which is very reliable.

lienfaye

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Quote from: erep on April 18, 2023, 05:12:36 PM

Quote from: Fivestar4everMVP on April 18, 2023, 03:33:12 PM

but a mere $11,000, what is $11,000 compared to $1.4 million dollars?

We must be wise in managing gambling funds and must be able to control ourselves from greed, many gamblers experience high losses due to emotional factors and greed to win bets.

That's true. It's not worth to risk millions just to win $11k. Greed and the over confidence that the result would be on his favor are the mistakes that he committed and can't turn back anymore because it happened already.

The reason why it's important to keep in mind that gambling is risky and the outcome is not guaranteed. So don't risk your money if you can't bear facing losses incase the result is not what you expected it to be.

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Quote from: Mr.right85 on April 18, 2023, 07:08:39 PM

It was a bad bet but, not one without consideration I suppose its the gamblers betting style and must have been building his fortune around this style of betting.
Betting on live events and in favour of a team that is already at advantage with some obvious seeming wins.

Unfortunately, it doesn't always go down this way. There is always risk until the whistle goes out for a game over.

A $1.4k bet against an $11k win is just way too low to risk. Let's hope this gambler has hot more from where that came from else, the gambler is done for.

He is a high roller for sure that can miss the money. This bet also clearly shows that there is no « surebet » and that there is no value at all in placing bets on this low odds. In fact all odds below 1.5 are low for me as I prefer valuebets.

Mr.right85

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Quote from: erep on April 18, 2023, 05:12:36 PM

Quote from: Fivestar4everMVP on April 18, 2023, 03:33:12 PM

but a mere $11,000, what is $11,000 compared to $1.4 million dollars?

Comparison of profit predictions with betting capital is irrational because risking big risks for low profits, I don't care how easy it is to make money in gambling but anything high risk must be considered before betting because even though he has predicted profits but the win is not on his side and his predictions are wrong, millions of dollars lost on single unreasonable bets.

It was a bad bet but, not one without consideration I suppose its the gamblers betting style and must have been building his fortune around this style of betting.
Betting on live events and in favour of a team that is already at advantage with some obvious seeming wins.

Unfortunately, it doesn't always go down this way. There is always risk until the whistle goes out for a game over.

A $1.4k bet against an $11k win is just way too low to risk. Let's hope this gambler has hot more from where that came from else, the gambler is done for.

Fivestar4everMVP

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Quote from: erep on April 18, 2023, 05:12:36 PM

Quote from: Fivestar4everMVP on April 18, 2023, 03:33:12 PM

but a mere $11,000, what is $11,000 compared to $1.4 million dollars?

Comparison of profit predictions with betting capital is irrational because risking big risks for low profits, I don't care how easy it is to make money in gambling but anything high risk must be considered before betting because even though he has predicted profits but the win is not on his side and his predictions are wrong, millions of dollars lost on single unreasonable bets. We must be wise in managing gambling funds and must be able to control ourselves from greed, many gamblers experience high losses due to emotional factors and greed to win bets.

You are right, but in terms of high risk bet, from my personal experience in betting, I honestly do not consider the game(what ever type of sports it is) the gambler in question placed bet on, to be high risk, remember the game in question had an odd of just 1.01, I do not consider this a high risk betting, the gambler was just unlucky, that's all .
And do not forget also that in betting , no matter the risk level , whether high or low, the chances of winning or losing is always 50/50.

Wiwo

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Quote from: milewilda on April 18, 2023, 06:22:35 PM

We are all starting on being inexperienced which means that those are initial reactions that we would definitely be able to encounter or would be felt off on the time when we are losing specially into those start up days.
It would really be just that a normal approach or reaction but on the time that you would really be having the experience then handling out various situations wont really be something that would be making you impulsive.
Since you do have already the idea on whats going on then you would really be acting according on what it should really be done or on how to handle it out.This is why we should bare up in mind
that no matter how low or small the odds is. there's always a chance on hitting it up, this is why it never been recommendable on making some all in the type of bet.

The major big lesson from this gambler's incident is never to stake too. Purchased on our confidence in a club since we can't be certain of what we will meet at the end of the game and also not to be too greedy for winning because the ops displayed some element of greed in his approach.

Most and all of us here have learned a lot of lessons even from others' comments here you can see that some of the comments are based on the many lessons from these signaller's events.

milewilda

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Quote from: Wiwo on April 18, 2023, 03:28:58 PM

Quote from: mak013 on April 10, 2023, 01:36:32 AM

In gambling you always can lose. It is possible that this gambler has a strategy with lots of big bets with small odds. But even in such strategy he has tp remember that it is possible to lose. In such situation it can be a lesson for us - what is money management. But the same time it is possible that it is all his money and he decided that he has found a way to get easy money. Thus, he received a lesson that he no longer needs.

One quality a gambler should develop is the ability to embrace losses with a good mindset because this will result in how the gambler act after that some gamblers have failed to properly manage their losses and that can affect their general well-being since some due to their inability to handle lose have resulted into addiction because of excessive chasing of loses which lead them into addiction.

But then if a gambler have a better understanding and the background knowledge of how to handle losses it will be easier for them to handle such losses when they occur.

We are all starting on being inexperienced which means that those are initial reactions that we would definitely be able to encounter or would be felt off on the time when we are losing specially into those start up days.
It would really be just that a normal approach or reaction but on the time that you would really be having the experience then handling out various situations wont really be something that would be making you impulsive.
Since you do have already the idea on whats going on then you would really be acting according on what it should really be done or on how to handle it out.This is why we should bare up in mind
that no matter how low or small the odds is. there's always a chance on hitting it up, this is why its never been recommendable on making some all in type of bet.

erep

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Quote from: Fivestar4everMVP on April 18, 2023, 03:33:12 PM

but a mere $11,000, what is $11,000 compared to $1.4 million dollars?

Comparison of profit predictions with betting capital is irrational because risking big risks for low profits, I don't care how easy it is to make money in gambling but anything high risk must be considered before betting because even though he has predicted profits but the win is not on his side and his predictions are wrong, millions of dollars lost on single unreasonable bets. We must be wise in managing gambling funds and must be able to control ourselves from greed, many gamblers experience high losses due to emotional factors and greed to win bets.

Fivestar4everMVP

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Quote from: pawel7777 on April 18, 2023, 03:05:06 PM

Quote from: Plaguedeath on April 18, 2023, 10:58:08 AM

If he can afford to lose that amount of money, why not?

A rich people can generate more money and they don't really care if they lose it, even though for most people that amount of money are life changing for them. I don't think bet with huge amount money in small odds is a gambling addiction, usually a gambling addict prefer to bet on a quick game like slots where he can play for 24/7 or they will bet on high odds if they play sports book.

If you were rich enough to not care about losing $1.4 million, then why would you even care about trying to win a lousy $14k? Doesn't make much sense, does it?
And if you got rich on your own, especially if you got there with your hard work - you'd probably have much more respect for money not to splash it out in such a way.

That being said, the guy had an access to a liquid $1.4m, so he was not an average Joe either. So who knows...

Exactly on point, and by the way, the person was not going to win $14,000 but $11,000, this is if I am right with my calculations though.

I have said it here before that, it would take some one with already a good experience in gambling to wager such an amount on a single bet, he or she is sure not a novice to gambling, and speaking of having respect for money, this like you said, depends on how the money was made, and I also think that emotional (could be spiritual or physical emotion) state of the person at the time of bet also has an important role to play, because I believe that even though money was made easily, its still not a reason to risk such a huge amount in a single bet, not even to win millions or dollar, but a mere $11,000, what is $11,000 compared to $1.4 million dollars?

Wiwo

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Quote from: mak013 on April 10, 2023, 01:36:32 AM

In gambling you always can lose. It is possible that this gambler has a strategy with lots of big bets with small odds. But even in such strategy he has tp remember that it is possible to lose. In such situation it can be a lesson for us - what is money management. But the same time it is possible that it is all his money and he decided that he has found a way to get easy money. Thus, he received a lesson that he no longer needs.

One quality a gambler should develop is the ability to embrace losses with a good mindset because this will result in how the gambler act after that some gamblers have failed to properly manage their losses and that can affect their general well-being since some due to their inability to handle lose have resulted into addiction because of excessive chasing of loses which lead them into addiction.

But then if a gambler have a better understanding and the background knowledge of how to handle losses it will be easier for them to handle such losses when they occur.

pawel7777

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Quote from: Plaguedeath on April 18, 2023, 10:58:08 AM

If he can afford to lose that amount of money, why not?

A rich people can generate more money and they don't really care if they lose it, even though for most people that amount of money are life changing for them. I don't think bet with huge amount money in small odds is a gambling addiction, usually a gambling addict prefer to bet on a quick game like slots where he can play for 24/7 or they will bet on high odds if they play sports book.

If you were rich enough to not care about losing $1.4 million, then why would you even care about trying to win a lousy $14k? Doesn't make much sense, does it?
And if you got rich on your own, especially if you got there with your hard work - you'd probably have much more respect for money not to splash it out in such a way.

That being said, the guy had an access to a liquid $1.4m, so he was not an average Joe either. So who knows...

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Quote from: Odusko on April 14, 2023, 04:37:07 PM

Quote from: ufaiz50 on April 13, 2023, 07:03:29 AM

That must be really hurtful. Imagine you are aiming to earn only $14,000 and you lose your entire $14M that really was painful to read, what more if you are that player who lose it. If I can remember there are also some users who are using this strategy on the crash game but they didn't place a million bets but maybe around $10,000 and aim for 1.01x or 1.1x though that was a low odd there's a chance that you could lose from it.

It doesn't make sense to risk such an amount on just 14k rewards and anything less than a $20 million winning is not worth risking such a huge amount on betting on it just imagine the look to say you lost 1.4 million chasing a 14k profits, it's not reasonable and I am sure something is wrong with ops to have taken such risky attempt and now lost everything.
I think this is a clear case of gambling addiction and from the case, one can see that the player is already highly addicted and there is a possibility that chasing previous losses is what has fueled his quest to risk more.

No amount is too small, 14k usd is not too small as well to have as an interest, but gambling is not an investment, rather us risk taking which also include having fun in a pleasurable moment, maybe OP got this whole misconception by going for the risk in giving all the entire money within his reach into gambling to earn more, but to be sincere such amount is too much to use in gambling except if one can afford loosing as much as that amount.

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Quote from: Odusko on April 14, 2023, 04:37:07 PM

It doesn't make sense to risk such an amount on just 14k rewards and anything less than a $20 million winning is not worth risking such a huge amount on betting on it just imagine the look to say you lost 1.4 million chasing a 14k profits, it's not reasonable and I am sure something is wrong with ops to have taken such risky attempt and now lost everything.
I think this is a clear case of gambling addiction and from the case, one can see that the player is already highly addicted and there is a possibility that chasing previous losses is what has fueled his quest to risk more.

If he can afford to lose that amount of money, why not?

A rich people can generate more money and they don't really care if they lose it, even though for most people that amount of money are life changing for them. I don't think bet with huge amount money in small odds is a gambling addiction, usually a gambling addict prefer to bet on a quick game like slots where he can play for 24/7 or they will bet on high odds if they play sports book.

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Quote from: Fredomago on April 15, 2023, 07:55:32 AM

Gamblers need to be more careful, as we all know how addicting this business and if you are careless, you will find yourself losing a lot, maybe not the same with OP, but a lot for a small gambler like you.

Caution must be prioritized, but what is more important is self-control and having limits for betting or playing so that we are not trapped in becoming a gambling addict.
Gambling addiction is a bad thing because you will not only lose a lot of money but also lose everything and even someone who becomes addicted to gambling will do everything to get money so they can continue betting.
This kind of thing is a concern and is very dear to most people.
But because in gambling no one can control except ourselves, gambling addiction can actually be avoided when we have an awareness of the badness of being an addict.
That way we can take better care of ourselves so that we don't become gambling addicts.

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Quote from: Odusko on April 14, 2023, 04:37:07 PM

Quote from: ufaiz50 on April 13, 2023, 07:03:29 AM

That must be really hurtful. Imagine you are aiming to earn only $14,000 and you lose your entire $14M that really was painful to read, what more if you are that player who lose it. If I can remember there are also some users who are using this strategy on the crash game but they didn't place a million bets but maybe around $10,000 and aim for 1.01x or 1.1x though that was a low odd there's a chance that you could lose from it.

It doesn't make sense to risk such an amount on just 14k rewards and anything less than a $20 million winning is not worth risking such a huge amount on betting on it just imagine the look to say you lost 1.4 million chasing a 14k profits, it's not reasonable and I am sure something is wrong with ops to have taken such risky attempt and now lost everything.
I think this is a clear case of gambling addiction and from the case, one can see that the player is already highly addicted and there is a possibility that chasing previous losses is what has fueled his quest to risk more.

If this crazy, crazy, but at the same time fabulously rich player really has a gambling addiction, then the loss of such a huge amount of course should have at least slightly cooled his crazy head.

But it still seems to me that this bet had some kind of guarantee or was just a marketing option to popularize this crazy player in the media.
But at the same time, he did not lose money on the fact of the contract itself, possibly secret from the public. It is clear that the whole city where this bet was made, or the whole country in general, knows for sure about such a loss.
They know because journalists simply cannot ignore such an interesting but also very stupid and scandalous event. People talk a lot about such events, including to each other in simple everyday conversations. And this is an ideal option for promoting a person to the stage of universal recognition, albeit with condemnation. But in this case it does not matter, because bad advertising is also advertising.

So I really don’t know how much to trust the information that such a player completely lost his $ 1.4 million?

Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 4. (Read 6572 times)