Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 43.

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Quote from: Crypt0Gore on February 07, 2023, 02:53:52 AM

Quote from: Haunebu on February 07, 2023, 01:16:28 AM

Quote from: drwoo on February 06, 2023, 07:46:53 PM

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.

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.

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.

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Quote from: Haunebu on February 07, 2023, 01:16:28 AM

Quote from: drwoo on February 06, 2023, 07:46:53 PM

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.

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Quote from: Haunebu on February 07, 2023, 01:16:28 AM

Quote from: drwoo on February 06, 2023, 07:46:53 PM

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.

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.

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Quote from: Haunebu on February 07, 2023, 01:16:28 AM

Quote from: drwoo on February 06, 2023, 07:46:53 PM

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.

If he is a rich man, of course losing with this much money is certainly not a big problem for him, I also think he seems to have calculated his defeat even though he thinks it is impossible because he only wants to take advantage of low odds to be able to win quite a bit of money with capital big, but the fact is he lost and I think he has calculated his loss

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Quote from: Haunebu on February 07, 2023, 01:16:28 AM

Quote from: drwoo on February 06, 2023, 07:46:53 PM

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 completely agree. If he wasn't greedy he wouldn't risk his money for such low odd even. I think he thought its good odd to try, and gambled his million dollars away just to make it bigger. And result is a loss. I think he definitely got angry and sad after all. Its a lesson for us. There is nothing called "low odd". Risk is something very hard to measure in sports betting. Its always like give or take. So you should be cautious betting/gambling.

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Quote from: drwoo on February 06, 2023, 07:46:53 PM

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.

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Quote from: bitbollo on January 18, 2023, 06:43:29 AM

https://nypost.com/2023/01/15/gambler-loses-massive-1-4-million-bet-on-chargers-jaguars-game/

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...

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Quote from: Ebede on February 06, 2023, 04:27:55 PM

Quote from: Desmong on February 06, 2023, 02:29:16 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

I cannot understand exactly what you are writing or what you are talking about everything that you wrote here is very contradictory to each other so mate can you help us to explain well with another language that we can understand what you are writing so can you help us to explain in two lines or three lines of what you are saying because it is better for you to write what will understand them writing what we cannot understand

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Quote from: Silberman on February 06, 2023, 04:29:08 PM

Quote from: OgNasty on February 06, 2023, 02:33:15 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.

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.

Upsets could really happen on any sport or whatever competition and its normal that they would really be causing up huge losses not only into those bettors but also into those bookies.
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?

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Quote from: Mr. Magkaisa on February 04, 2023, 11:47:22 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.

$1million is quite a huge amount to gamble away in just a seating and with all indication as you have rightly said, the gambler must be a rice dude with loads of money to play around with, and most importantly he may have won significant amount also in the past to have build that level of confidence to ulput up such amount in gambling, and the points we should know is that.
*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.

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Quote from: OgNasty on February 06, 2023, 02:33:15 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.

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.

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Quote from: Desmong on February 06, 2023, 02:29:16 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

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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.

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Quote from: Mr. Magkaisa on February 04, 2023, 11:47:22 PM

Quote from: goinmerry on February 03, 2023, 02:22:04 PM

Quote from: Fredomago on February 03, 2023, 01:45:13 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.

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.

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Quote from: Botnake on February 06, 2023, 06:53:28 AM

Quote from: Fredomago on February 06, 2023, 04:17:06 AM

Precisely! even in that high percentage bet to win, unexpected things can happen, and this gambler experienced it the hard way after placing that huge amount of a bet for his selected team to win. No one can accurately predict the potential result aside from those rumors of fixed makers who control the game and put a huge amount of money to secure the win.

Though it's another thing, a rumor that exists behind every sports betting, moving back to the topic, unexpected results inside gambling is not new to everyone, and this topic will serves as a good example of it.

If he understands the risk most likely he'll be fine after this. It's just a strategy, odds are there for a reason, and that is for us to put our bet. What if that bet won, for sure we will congratulate him and we will be saying easy money. That's $14,000, easy money for one bet, right?

Yes, this is very simple. generally, when some one win in gambling, we praise and after lose we give various advice's. Gambling is generally dependent on luck. Win or lose is very common in gambling there is nothing to regret about it. A gambler bet $1.4 million hoping to win $14,000. He is naturally different gamblers from others. In once sense it's not a fault for him because he thought probably he win but it didn't happen. He may have placed such bets in the past and won. It is not possible to gain in gambling without taking risk. This is a big risk for those who have less money but not for extra ordinary gamblers.

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Quote from: Fredomago on February 06, 2023, 04:17:06 AM

Precisely! even in that high percentage bet to win, unexpected things can happen, and this gambler experienced it the hard way after placing that huge amount of a bet for his selected team to win. No one can accurately predict the potential result aside from those rumors of fixed makers who control the game and put a huge amount of money to secure the win.

Though it's another thing, a rumor that exists behind every sports betting, moving back to the topic, unexpected results inside gambling is not new to everyone, and this topic will serves as a good example of it.

If he understands the risk most likely he'll be fine after this. It's just a strategy, odds are there for a reason, and that is for us to put our bet. What if that bet won, for sure we will congratulate him and we will be saying easy money. That's $14,000, easy money for one bet, right?

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Quote from: wxa7115 on February 05, 2023, 11:56:21 PM

Quote from: erep on February 05, 2023, 04:58:41 PM

Quote from: Fredomago on February 05, 2023, 02:30:32 PM

I do agree with that, or we never know if the bettor is really rich or just mistakenly over confident that he won't suffer from that kind of upset and yolo out for this event. But the possibility that he is a rich person and capable to risk that huge amount of money is high, nothing he can do about it as it luck didn't permit him to win but instead the direction turn the other way and bookies win against him.

I suspect that there was an error in determining the chances of winning but he has already used high bets because his predictions have missed the final results of sports matches, of course he is a rich man because he keeps a gambling balance of up to millions of dollars but he is not willing to accept the loss of those funds because he thinks he has a high chance of getting victory but he failed and had to accept the loss of millions of dollars.

There was no mistake on the odds being given, the chances of winning their bet were indeed that high, it was almost impossible for them to lose that bet and this is what lead them to bet such a fortune in a single bet.

But even if losing was unlikely to happen it was not impossible and this gambler discovered this the hard way, it is for this reason I do not think the bet itself was a mistake, the mistake was the excessive amount they bet in a single event, a common mistake as I remember some users complaining about something similar happening to them.

Precisely! even in that high percentage bet to win, unexpected things can happen, and this gambler experienced it the hard way after placing that huge amount of a bet for his selected team to win. No one can accurately predict the potential result aside from those rumors of fixed makers who control the game and put a huge amount of money to secure the win.

Though it's another thing, a rumor that exists behind every sports betting, moving back to the topic, unexpected results inside gambling is not new to everyone, and this topic will serves as a good example of it.

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Quote from: erep on February 05, 2023, 04:58:41 PM

Quote from: Fredomago on February 05, 2023, 02:30:32 PM

I do agree with that, or we never know if the bettor is really rich or just mistakenly over confident that he won't suffer from that kind of upset and yolo out for this event. But the possibility that he is a rich person and capable to risk that huge amount of money is high, nothing he can do about it as it luck didn't permit him to win but instead the direction turn the other way and bookies win against him.

I suspect that there was an error in determining the chances of winning but he has already used high bets because his predictions have missed the final results of sports matches, of course he is a rich man because he keeps a gambling balance of up to millions of dollars but he is not willing to accept the loss of those funds because he thinks he has a high chance of getting victory but he failed and had to accept the loss of millions of dollars.

Even if he is a rich man, if he loses a lot of money at gambling, he will experience disappointment. Still, that disappointment is not what most people experience, and they will get frustrated seeing the loss. The disappointment of the rich and most people will be different and we will never know how that person expressed it. But for a gambler, that amount is a lot of money and he must have more money than the amount he has gambled and lost.

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Quote from: erep on February 05, 2023, 04:58:41 PM

Quote from: Fredomago on February 05, 2023, 02:30:32 PM

I do agree with that, or we never know if the bettor is really rich or just mistakenly over confident that he won't suffer from that kind of upset and yolo out for this event. But the possibility that he is a rich person and capable to risk that huge amount of money is high, nothing he can do about it as it luck didn't permit him to win but instead the direction turn the other way and bookies win against him.

I suspect that there was an error in determining the chances of winning but he has already used high bets because his predictions have missed the final results of sports matches, of course he is a rich man because he keeps a gambling balance of up to millions of dollars but he is not willing to accept the loss of those funds because he thinks he has a high chance of getting victory but he failed and had to accept the loss of millions of dollars.

There was no mistake on the odds being given, the chances of winning their bet were indeed that high, it was almost impossible for them to lose that bet and this is what lead them to bet such a fortune in a single bet.

But even if losing was unlikely to happen it was not impossible and this gambler discovered this the hard way, it is for this reason I do not think the bet itself was a mistake, the mistake was the excessive amount they bet in a single event, a common mistake as I remember some users complaining about something similar happening to them.

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Quote from: Fredomago on February 05, 2023, 02:30:32 PM

I do agree with that, or we never know if the bettor is really rich or just mistakenly over confident that he won't suffer from that kind of upset and yolo out for this event. But the possibility that he is a rich person and capable to risk that huge amount of money is high, nothing he can do about it as it luck didn't permit him to win but instead the direction turn the other way and bookies win against him.

I suspect that there was an error in determining the chances of winning but he has already used high bets because his predictions have missed the final results of sports matches, of course he is a rich man because he keeps a gambling balance of up to millions of dollars but he is not willing to accept the loss of those funds because he thinks he has a high chance of getting victory but he failed and had to accept the loss of millions of dollars.

Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 43. (Read 8226 times)