Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 46.

Daltonik

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Quote from: Chikito on January 21, 2023, 10:09:04 PM

Quote from: bitbollo on January 18, 2023, 07:43:29 AM

what your opinion about this gambling issue? did you had experience similar experience? how a good gambler should avoid such mistakes?

IMO, Gambling is gambling even have detail accurate to compute it. Once again, gambling is luck. I've experienced bet on world cup 2022 when Argentina meets Saudi. It's true to bet all in on Argentina (1.18), nothing to doubt right?, I am really sure if you are sane you will bet on Argentina with all your life. But, we know the result, it's the same in what gamblers did on Jaguars. So with this experience, we shouldn't be greedy, we should have to calculate again and sober.

I absolutely agree with you, sometimes betting on a favorite can get the opposite result, I was convinced of this several times myself betting with odds 1.005 and got a loss, so in gambling you have to count on luck.

Chikito

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Quote from: bitbollo on January 18, 2023, 07:43:29 AM

what your opinion about this gambling issue? did you had experience similar experience? how a good gambler should avoid such mistakes?

IMO, Gambling is gambling even have detail accurate to compute it. Once again, gambling is luck. I've experienced bet on world cup 2022 when Argentina meets Saudi. It's true to bet all in on Argentina (1.18), nothing to doubt right?, I am really sure if you are sane you will bet on Argentina with all your life. But, we know the result, it's the same in what gamblers did on Jaguars. So with this experience, we shouldn't be greedy, we should have to calculate again and sober.

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Quote from: Woodie on January 21, 2023, 04:27:51 AM

The problem is such look like a safe bet when in fact not... I have seen people lose on a 1.005 odd bet which looked like a sure bet but turned out to be a high risk bet that will lead to losing and the unfortunate thing about such wagers is that a player needs to put in alot of money to have a small profit but in the end its all burst! Btw I think bookies actually make more money on such bets because of our greed, it's a hard lesson learnt and can never be too sure of an outcome.

Because it's gambling. No matter how confident you are with the team that will win because of the low odds, still, it is gambling and unexpected result is always possible to happen. It seems easy to profit if you bet in pretty low odds but yes it is also high risk if you wager huge amount to profit a little. It happened to me before and it became an eye opener to not fully trust the team with low odds, because it's not an assurance. So always bet only the amount you can live without to avoid having regrets.

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That's certainly one suspicious bet. If the guy would win that bet, that would most probably be investigated by the bookie's security department. I can't think of a reason why the guy made this bet and why he considered it safe? Was he drunk or high?

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Quote from: len01 on January 21, 2023, 07:06:19 PM

Quote from: Woodie on January 21, 2023, 04:27:51 AM

The problem is such look like a safe bet when in fact not... I have seen people lose on a 1.005 odd bet which looked like a sure bet but turned out to be a high risk bet that will lead to losing and the unfortunate thing about such wagers is that a player needs to put in alot of money to have a small profit but in the end its all burst! Btw I think bookies actually make more money on such bets because of our greed, it's a hard lesson learnt and can never be too sure of an outcome.

sometimes odd bets are misleading and gamblers are sometimes too greedy after seeing odd bets that seem to promise victory even though they are like a trap. I had experienced something like this at that time, but luckily I gambled just for fun without using big bets.

And one thing I learned from this, don't be deceived by the current score of the game, it can flip any time. that is actually the case stated by @OP betting on the leading time while the game is running, disregarding the possibility of a comeback of another team.

Quote from: len01 on January 21, 2023, 07:06:19 PM

for gamblers who have lost a lot of money because they have bet a large amount on odd bets, hopefully that will be the best lesson not to be greedy in gambling

I bet the guy had learned his lesson. It is an expensive tuition fee for the gambling 101 courses. I do not think it was an addiction case but instead a "sure-win" fallacy.

RILWAN

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This is a poor case of addiction if nkt how can any sane person lose such an amount of money in betting, what winning prize had he been chasing to the poi t of staking a whooping 1.4 million on a bet.

I think the ops in question should be thoroughly examined to a certain his state of mind, and of he is ok then he must be a big bag holder already to have developed such an appetite.

len01

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Quote from: Woodie on January 21, 2023, 04:27:51 AM

The problem is such look like a safe bet when in fact not... I have seen people lose on a 1.005 odd bet which looked like a sure bet but turned out to be a high risk bet that will lead to losing and the unfortunate thing about such wagers is that a player needs to put in alot of money to have a small profit but in the end its all burst! Btw I think bookies actually make more money on such bets because of our greed, it's a hard lesson learnt and can never be too sure of an outcome.

sometimes odd bets are misleading and gamblers are sometimes too greedy after seeing odd bets that seem to promise victory even though they are like a trap. I had experienced something like this at that time, but luckily I gambled just for fun without using big bets.
for gamblers who have lost a lot of money because they have bet a large amount on odd bets, hopefully that will be the best lesson not to be greedy in gambling

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Quote from: slapper on January 21, 2023, 04:13:15 AM

Quote from: rahmad2nd on January 20, 2023, 02:35:57 PM

Quote from: suzanne5223 on January 19, 2023, 06:58:12 PM

I don't know how rich the person that made the bet was but I believe he/she was greedy with the game and I also believe he/she has learned a pretty good lesson because the odds of a game don't justify an end result, it is something I have learned much time which I also learn during the Qatar World cup game at quarter-final when Portugal faces the Moroccan, Brazil vs Cameroon, Spain vs Japan, etc.

First of all, we can't judge someone based on the bets they make. I don't feel that the man we are discussing here, is a covetous person.

in theory, with the odds provided by the dealer, on paper the man should have won his bet. however, in the world of sports, especially football. anything can happen even though the team that is superior tends to win the battle. and it seems, the man is too confident that the team he chose as a bet will win the game. so, he gambled with 1.4 million USD. and if he wins the bet, the guy will get at least $11,200. the results are not commensurate with the money at stake, but because 11k money is big enough money, it seems he made a decision on the gamble. unfortunately, bad luck for him.

In conclusion, in any gamble the stake always carries a risk even though the ratio of losing is very unlikely. as you exemplified in the world cup matches in Qatar, remember the favorite team doesn't always win the battle.

Yeah, I totally agree with you. It's not fair to judge someone based on the bets they make. And you're right, in sports, anything can happen. Even though the team that's supposed to win, might not always come out on top. And it sounds like the guy who made the 1.4 million dollar bet, might just be rich enough to take that kind of risk. But still, it's important to remember that with any gamble, there's always a risk involved. Even if the odds are in your favor, you can never be 100% sure of the outcome. So, it's always important to gamble responsibly and not bet more than you can afford to lose

Maybe you guys have a valid point but if you read the storyline of how the man lost the 1.4 million USD on Chargers Jaguars game you'll agree with him been judge because the story says he made the 1.4 million dollars when the Chargers-Jaguars were leading the match with 27-0. Therefore, he greedily put in the million bucks so he could win an easy $11, 200.
Can you tell me that's not a greedy move?

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Quote from: chaser15 on January 21, 2023, 12:44:13 PM

Unfortunately, not this time where he loses that big bet. But if you guys will read more details, the bet was almost a win for him already but the underdog was able to make a late rally and that was a rare occurrence in the history of those involved teams.

It’s pretty obvious that his almost win due to the odds placed by the bookmaker. It will not be rate as 1.01 odds if the the opposing has a high chance of winning. This kind of upset is very tragic and I believe bookmaker sometimes place an error odds just to trap whale players like in the OP to bet on game that underdog has a high chance to upset the match if the bettor is not paying attention well on the match that he place bets.

Some whale players usually just look on the odds with their bets.

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Quote from: erep on January 21, 2023, 10:41:10 AM

I also believe that if it wasn't the final bet he should have known the consequences even though he was so sure he would win but the loss is obviously very frustrating for anyone because of his wrong way of gambling. He can even gamble the other way without risking $1.4m for an $11k profit.

we have to be careful in determining bets even though we have estimated the chances of winning, but nothing is certain in sports betting because each team will try hard to change its winning position with a new strategy, so sports betting is better to place low bets and not have a high risk of losing fund.

Since that bettor is willing to risk that amount, maybe that was really its usual way of gambling for a long.

We can conclude that so far, he is doing well with that strategy where he will always choose low possible odds but the risk for him is, will be forced to stake a high amount to somehow feel a profit or can be considered a good profit.

Unfortunately, not this time where he loses that big bet. But if you guys will read more details, the bet was almost a win for him already but the underdog was able to make a late rally and that was a rare occurrence in the history of those involved teams.

erep

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Quote from: Haunebu on January 21, 2023, 09:55:01 AM

It probably isn't his last bet and I don't think he will end his life or anything since he is probably a rich dude who will regret this bet for a while and move forward just like the BTC pizza guy who missed out on millions.

I also believe that if it wasn't the final bet he should have known the consequences even though he was so sure he would win but the loss is obviously very frustrating for anyone because of his wrong way of gambling. He can even gamble the other way without risking $1.4m for an $11k profit.

we have to be careful in determining bets even though we have estimated the chances of winning, but nothing is certain in sports betting because each team will try hard to change its winning position with a new strategy, so sports betting is better to place low bets and not have a high risk of losing fund.

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We all should take into account that there are people who win national lotteries, for instance, every day, regardless the near to zero chances they had to win.

1.008 is quite a low probability, but it is still much bigger than the one just mentioned, so we should assume that there are no bets free of risk. Anyway, I agree that a person who makes such a big bet is quite probably very rich and it responds to a betting strategy that may be profitable in the long run. But, if that was not the case explained in the OP, the loss must be terribly hard to bear for that gambler.

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Quote from: Reatim on January 20, 2023, 11:48:42 PM

1.4 millions ? this is insane decision and surely he will regret the rest of his life, no wonder that would be His last bet and will never come back in gambling world(or maybe that is the end of His life)

It probably isn't his last bet and I don't think he will end his life or anything since he is probably a rich dude who will regret this bet for a while and move forward just like the BTC pizza guy who missed out on millions.

Quote from: Mauser on January 21, 2023, 05:27:24 AM

The most important thing is to be able to live with the bets we make and not feel bad about it for a long time if things go wrong.

This is the extremely tough part which most gamblers fail to nail which is why they get depressed or go crazy or kill themselves etc.

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Quote from: Silberman on January 21, 2023, 04:46:55 AM

Quote from: Woodie on January 21, 2023, 04:27:51 AM

The problem is such look like a safe bet when in fact not... I have seen people lose on a 1.005 odd bet which looked like a sure bet but turned out to be a high risk bet that will lead to losing and the unfortunate thing about such wagers is that a player needs to put in alot of money to have a small profit but in the end its all burst! Btw I think bookies actually make more money on such bets because of our greed, it's a hard lesson learnt and can never be too sure of an outcome.

It seems some gamblers forget that even bets which are incredibly likely to happen and which may seem as an easy way to make money are still not a sure thing, however the mistake was not really to make a bet in such a likely bet but to bet such a huge amount of money, doing such a thing is never recommended and this massive loss is a good warning sign so people that could be thinking about doing the same thing realize that it is never going to work.

Most likely that what happened here, or he really has that capability to make that huge amount of bet thinking that because of high probability to win the chance of losing is next to impossible, but likewise shit can happen and it does with his bet, the huge lead before he left his bet is really something that you will think that when checking it back you will just cashing out your winning.

But the outcome is the opposite of what he would expect and nothing he can do now, that experienced will serve as the basis to everyone to always know how to judge the amount that you can afford to lose before placing your bet.

Mauser

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Quote from: bitbollo on January 18, 2023, 07:43:29 AM

what your opinion about this gambling issue? did you had experience similar experience? how a good gambler should avoid such mistakes?

Wow that is crazy, betting 1.4m USD on a single bet no matter the odds. Betting such a huge amount on a single bet always has the risk of going wrong eventually. Personally I am a big fan of betting on such low payout games because you can slowly build up your bankroll overtime with very limited risks. The problem of course is that the underdog can eventually win and lead to a big loss if we don't split up our money across multiple bets. When the odds are so low like 1.008 then we need to bet a large amount to make a profit, but betting 1.4m USD is just too much money. I mean he bets so much money to get only a profit of 11.2k USD it's not worth it in my opinion. He would need to make the same bet 125 times and win every time to only make his principal money back. But then again we don't know how much money they gambler actually has and maybe a 1.4m USD bet for him is what is for us a 100 USD bet. The most important thing is to be able to live with the bets we make and not feel bad about it for a long time if things go wrong.

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Quote from: Woodie on January 21, 2023, 04:27:51 AM

The problem is such look like a safe bet when in fact not... I have seen people lose on a 1.005 odd bet which looked like a sure bet but turned out to be a high risk bet that will lead to losing and the unfortunate thing about such wagers is that a player needs to put in alot of money to have a small profit but in the end its all burst! Btw I think bookies actually make more money on such bets because of our greed, it's a hard lesson learnt and can never be too sure of an outcome.

It seems some gamblers forget that even bets which are incredibly likely to happen and which may seem as an easy way to make money are still not a sure thing, however the mistake was not really to make a bet in such a likely bet but to bet such a huge amount of money, doing such a thing is never recommended and this massive loss is a good warning sign so people that could be thinking about doing the same thing realize that it is never going to work.

Aanuoluwatofunmi

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Loosing such big amount shouldn't be a threat or something sad since the same way he wanted to win that kind of amounts goes likely to the casino as well, now it's a survival of the fittest because the two parties involved were after making profits but only one will emerge a winner, he would have thought about the risk before getting distracted of the winning rate, we don't want to be responsible of any of our negative results or outcome except if they went on as expected, he must have learnt his lesson.

Woodie

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The problem is such look like a safe bet when in fact not... I have seen people lose on a 1.005 odd bet which looked like a sure bet but turned out to be a high risk bet that will lead to losing and the unfortunate thing about such wagers is that a player needs to put in alot of money to have a small profit but in the end its all burst! Btw I think bookies actually make more money on such bets because of our greed, it's a hard lesson learnt and can never be too sure of an outcome.

slapper

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Quote from: rahmad2nd on January 20, 2023, 02:35:57 PM

Quote from: suzanne5223 on January 19, 2023, 06:58:12 PM

I don't know how rich the person that made the bet was but I believe he/she was greedy with the game and I also believe he/she has learned a pretty good lesson because the odds of a game don't justify an end result, it is something I have learned much time which I also learn during the Qatar World cup game at quarter-final when Portugal faces the Moroccan, Brazil vs Cameroon, Spain vs Japan, etc.

First of all, we can't judge someone based on the bets they make. I don't feel that the man we are discussing here, is a covetous person.

in theory, with the odds provided by the dealer, on paper the man should have won his bet. however, in the world of sports, especially football. anything can happen even though the team that is superior tends to win the battle. and it seems, the man is too confident that the team he chose as a bet will win the game. so, he gambled with 1.4 million USD. and if he wins the bet, the guy will get at least $11,200. the results are not commensurate with the money at stake, but because 11k money is big enough money, it seems he made a decision on the gamble. unfortunately, bad luck for him.

In conclusion, in any gamble the stake always carries a risk even though the ratio of losing is very unlikely. as you exemplified in the world cup matches in Qatar, remember the favorite team doesn't always win the battle.

I concur. Judgement based on bets is unfair. Sports are unpredictable. Even if the favorite loses. The 1.4 million dollar betmaker may be wealthy enough to accept that risk. However, gambling always involves risk. Even with favorable odds, you can never be sure of the outcome. Thus, gamble properly and don't risk more than you can afford

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Quote from: bettercrypto on January 20, 2023, 11:17:03 PM

This is the world of gambling. But can you do what the bettor did who sacrificed 1.4M$ in exchange for winning only 11,200$ at 0.8? Because I don't think I can do what that bettor did.

I will not do it even for $100 bet, it does not worth the risk. I have no idea why this bettor is willing to risk that much money for a small profit. He can actually spend 10% only of his bet witg 1.1 odds or simply try to find higher odds like 1.5 but with a better analysis of the game. I wonder how he feel after his losing bet, but it must be something really bad and he did not expect it at all.

Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 46. (Read 6572 times)