Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 45. (Read 6572 times)

Low odds are never a sure way to winning and anytime we bet on them we should be settled with one fact that the bet can go against us even if the odds are low ot, not garranteeand should not be taken as a pointer to big winning so why should anyone want to risk such a huge amount on such bets.

Any person that loses bet you will have to sympathize with that person because if you are in the show of the person somebody have to sympathize with you also so I'm trying to let you know assuming you have lose a bed before that your plan that you made it or you again or you win from that bet you will know how painful it is for someone to lose a bet so what we need his encouragement so that someone can move further and the fall not be involved into depression

There is no lesson her for me because who knows how long the gambler had been making this kind of bets and how much he had won so far. There is no need to pity him because he knows that what he loses is just a token from nothing. People like this knows how to win and make money money. They bet with small odds and they keep winning regularly without stress. Ask for his portfolio so you will understand that no loses here.

That is it, and anyone placing a bet should have their minds on that. For the gambler who lost 1.4 million it may be a small loss to him and not much of a big deal. We should not cry on his behave. What if he had won it, we would be enjoying it on the beach with those fat brown cigars on his lips and pretty young girls around him. Gambling is a game and like a game you have winners and losers. There are bad and good days in every gambler's life. Maybe that day was that gambler's bad day.

If we don't like to lose then we shouldn't play gambling at all. Gambling is a very risky activity so we must only be able to use money within our capacity and don't be like the guy here in our topic.

Maybe the guy underestimates the other team and he also sees that the odd is super low so he thinks this was an easy win but then as stated in the story the other team make an epic comeback, making that team win and then the guy loses his bet. Taking huge risk doesn't only mean betting for higher odds but it also has to do with the the amount that we are betting. If we bet high than is consider as high risk no matter what odds you are betting at.

0.8% actually


It's really the opposite. These type of bets are made thousands of times every day, not for this amount of course, but for 100x this amount if you counted up all those bets.
What exactly would they investigate? It's an NFL game, the most unlikely of all games to be rigged.

Indeed none of us likes to lose, but that will happen if we play gambling because defeat will come to those who play gambling. And even though gamblers put their money into relatively low-risk bets, they still have the same chance of losing as that person did. We must remember that the possibility of losing will always be there, while the possibility of winning will not always exist. That's gambling because it's the casino that will always win. After all, it's their business, so we have to control ourselves while gambling. We must control ourselves to avoid big defeats because it will be very painful to see our deposit money run out at the gambling table.

This is such a bad comparison. Your BTC was worth several hundreds of dollars 6 years ago while this gambler bet 1.4 million dollars which is way, way bigger in comparison. Time makes a huge difference here.

You never expected BTC to reach 60 grand back then which makes complete sense.

Throwing up 17 bitcoin on a bet in the last 6 years ago when bitcoin was cheap and a few hundred dollars could accumulate a good number of bitcoin, unlike the present time when the price of Bitcoin is high, betting away 17 Bitcoin will be a little overboard and way too much an amount to gamble away but am sure even that amount is not up to the amount in the ops sine 1.4 million dollars can accumulate more bitcoin above your 17 bitcoin. But in all please only gamble what you can afford to lose, and avoid becoming excessive in gambling once you lose some, you can walk away.

Odds from 1.01 do not give any guarantee of success. Statistically speaking you have a big advantage of course, but also keep in mind that according to the math you will lose 1 x in 100 x if you keep playing this. It can go well for 300 games, but it can also go wrong after 7 games. There are people who make money with this strategy, but here too you need some luck. There are known examples of Germany - Sweden, for example, in which Germany had a 4-0 lead and you could bet on a victory over the German football team for odds of 1.01. That game eventually ended in 4-4, many people lost a lot of money with that. If you don't want to take any risk, then you should focus on surebets. Or look for decent value bets.

in my opinion, and concluded from several gambling players, that is they are only looking for entertainment and they also bet not using money that is not for their daily needs. But they bet using unused money or leftovers from shopping for their needs. so even if they lose at gambling they don't bother, because their needs have been met.

Well, I also played in a site giving all in 17 btc 6 years ago with the dice under 1.01x and I lost everything

It was painful

That gives me purpose to see more and live more in this life. I cant believe it how crazy stories I keep reading on the bitcointalk. Is this really real man? How can one go and decide such high amount on a bet in single roll? Wow, I think this is what they call, loosing your mind over greediness. That's craziest one and it's big lesson for every gambler out there. I think I am done watching the worst bet made in the history of gambling. Also if he has that much to dare, then he must far more richer than that and not to care about his losses whatsoever.

In the few years that I've been in the world of sports betting, I've noticed a few things:

1 - never borrow money for gambling

2 - never bet the entire bankroll in a single game or even in several games

3 - the only way to make a lot of profit is to risk making multibet bets but the chances of winning constantly are very small but if the person has discipline, knowledge and dedication and good management they can make a profit, but it will depend on the strategy that the person will use, as I said multibet betting has many risks

about this guy's story I would say that his mistake is very strange because even if he won in 3 consecutive games that had this odd he would not make a profit in the long term because in just one defeat he would lose everything

I believe every gambler can attest to the little odds they have lost before. Most times in my area, I see some guys criticizing the club they bet on because they had small odds and yet busted their bets.

Every gambler has their own strategy of betting, so no regrets for that guy who lost $1.4 million; he was just so unlucky and can try again next time, lol 🤣😂

I have learned lots of lessons in gambling, and even if I were in his shoes, I would not have just wagered $1.4 million on one game, but I noticed that some Rushian gambling sites do not allow me to split my options when gambling on a particular game; for instance, if I bet on Chelsea to win, the site will not allow me to bet on the same game with a different option, like Chelsea to lose. So what I do is use a common betting site that allows me to diversify my options in one game. What I am saying in essence is that even if I am presented with a small odd and have to go with different option, I can split it into three options and also split my fund accordingly. If one option busts, I might still be lucky in the other.

But how can he take such a risk by wagering $1.4 million just for a net profit of $11,200, which is 8% 0.8% of the total wage if he had won? OP, I agree with the lessons you stated out of the story.

None of us like to lose. But we cannot win by ignoring the loss. Gamblers who research these issues carefully usually want to put their money into bets that are relatively low risk. Whether the odds 1.01 or 1.02 or smaller, these bets are low risk. As the rate of return is low, the risk is also low that is thought by some gamblers. Even if there is a low probability of loss the match but if it is happen then one have face big lose economically. As the OP mentioned.

A gambler should not take big risks. He can only bet as much money as he can afford to lose. It should be remembered that winning in gambling is uncertain. So win and loss both should be accepted.

Many reasons can make his bet using a lot of money. It seemed that the man was too sure that his bet would give him a big win, so he bet a lot of money. But the truth was that he had lost too much. There are no easy bets, so if we want to bet, only use the money we can afford. The rest of us are just waiting for the game's results to come out and see if we win or lose. That's why betting on sports sometimes looks easy. We just choose the team we like, but the opposing team can put pressure on our team until our team finally loses.

Gambling is always risky no matter 1.01 or 0.008 odds.  Yes 0.01 odds are very believable but this ODD can fail to win anytime. Such incidents are often seen.  For example, in the first match of Argentina vs Saudi Arabia in FIFA this year, Argentina lost with 1.01 odds and Saudi Arabia won with 100 odds. So Odds of 1.01 or less cannot be guaranteed 100%. There is always risk in gambling

When luck does not favor, one has to face very bad situations. I bet a few days ago with a relatively large amount to win where the betting odds were 1.02 I was quite happy till the moment of the game but when I got beat at the end there was nothing to do. It's hard to describe what that moment feels like. But it is also true that I have had many victories too. After all, such situations of gambling are not unusual.

I disagree. There is nothing suspicious about it frankly speaking. The bookie's security department wouldn't bother investigating such bets since it clearly looks like a legit bet.

That gambler thought this was a sure bet just like many other gamblers and never expected a comeback in the 2nd half which is why he thought that it was easy money, but luck turned against him and screwed him over.