Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 47. (Read 8226 times)
January 31, 2023, 10:18:25 PM
For me, there is always a little possibility of losing a bet, whatever of how high the chance of winning is. I once had that feeling, when picking a team with low odds for an NBA bet. Hoping the bet will be easy to win, but the results tell otherwise.
January 31, 2023, 09:19:32 PM
https://nypost.com/2023/01/15/gambler-loses-massive-1-4-million-bet-on-chargers-jaguars-game/
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?
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 have lost some of my money in gambling way back. It was due to me being careless, not analyzing the situation and then everything else followed. It was an amount that I can't say I totally afford to lose which made it a learning lesson and experience to look back to today. It was hard accepting that the hard-earned money was gone in a snap, but I guess we all make mistakes. Although right now, I can say that I'm more financial literate and I still have a lot to learn.
With this, I can say that it's not really a good idea to bet and risk an amount you can't really let go and shrug off if things go haywire. A person must only risk what he can afford to lose to avoid deep regrets and resentment towards oneself. Betting with limitations is a must too. Someone should know when to stop to avoid accumulation of funds spent in gambling. Specific fund allocation could be an effective way to lessen the betting amount as long as you can adhere to it.
January 31, 2023, 07:56:29 PM
Anything more than 1.98x is more risky for me. I have seen many people losing their bets at 1.99x.
I think 1.98x is still safer. Anything less than 1.10 is a lot riskier. You are basically going all in for just a mere 10% profit which is insane.
Just to make a 2x gain you will have to place 6-8 bets considering you are compounding your bets.
So the ideal range for me is between 1.3x to 1.98x. I generally place all my bets inbetween this range.
Personally I find odds of 1.3 still too low to place bets on. My minimum odd is normally around 1.5 to 1.6. If you find a good value bet and the odd is like 2.3 or 2.5, than I still place a bet on it but just lower my betsize. i I guess everybody has like its own odds range where he will place bets on.
January 31, 2023, 06:40:55 PM
Whether it is sports betting or casinos, we don't know the outcome. We predict the outcome and go for it. What happened in FIFA World Cup Matches is true example. It is really hard to accept, so when we go for a prediction it is good to go with the better odds than just going for mere profit risking hugea volume of money.
Odds can be misleading sometimes, and relying on odds to make your prediction is the fastest way to bankruptcy on football betting, casino houses are aware of the high depends on odds by gamblers and that is why the casino always play around with the odds as to divert gamblers attention into choosing the wrong clubs. *some times clubs with low odds also lose and the club with high odds may win, that is the major reason why football betting is a game of luck with little chance of speculating with the help of analyses to point to the direction match will go.
January 31, 2023, 06:37:02 PM
This is just the same experience I had last year during Qatar 2022 world cup, the game between Argentina and Saudi Arabia is where I learnt the hard way never to be over confident in a team when placing a bet..
I went all in on Argentina to win that match, but unfortunately, they ended up loosing, I lost all my money, a few thousands of dollars, Infact, if I had millions, I would have probably lost it all because I probably would have betted everything to increase my winning amount.
*Never to be too confident in any team since football is unpredictable and we should not judge by odds or previous performance or records.
*Double chance your bets if you have the funds to do so but most times you still end up losing if luck is not on your side.
sports world.This is why whenever you do make out bets then dont really be having that 100% confidence for you to win up a particular bet.Losing odds or chances is still there as long it doesnt goes to 0%
which we do know that its impossible.
Lots of people been talking about this guy who bet up a million for this kind of match which i couldn't blame him off with and its true that lots had lost that one sided game which we do know.
We arent that dumb not to make those huge gaps and differences in between which is really that obvious but it turns out to be opposite.
January 31, 2023, 06:33:00 PM
This is just the same experience I had last year during Qatar 2022 world cup, the game between Argentina and Saudi Arabia is where I learnt the hard way never to be over confident in a team when placing a bet..
I went all in on Argentina to win that match, but unfortunately, they ended up loosing, I lost all my money, a few thousands of dollars, Infact, if I had millions, I would have probably lost it all because I probably would have betted everything to increase my winning amount.
*Never to be too confident in any team since football is unpredictable and we should not judge by odds or previous performance or records.
*Double chance your bets if you have the funds to do so but most times you still end up losing if luck is not on your side.
January 31, 2023, 06:00:10 PM
This is just the same experience I had last year during Qatar 2022 world cup, the game between Argentina and Saudi Arabia is where I learnt the hard way never to be over confident in a team when placing a bet..
I went all in on Argentina to win that match, but unfortunately, they ended up loosing, I lost all my money, a few thousands of dollars, Infact, if I had millions, I would have probably lost it all because I probably would have betted everything to increase my winning amount.
*Never to be too confident in any team since football is unpredictable and we should not judge by odds or previous performance or records.
*Double chance your bets if you have the funds to do so but most times you still end up losing if luck is not on your side.
January 31, 2023, 03:17:04 PM
He risks his $1.4M to win $11,200 if his team won.
In gambling, anything can happen, even if you think you have a 99% winning percentage, but there is still a 1% chance that you will lose, and that mostly happens to him. The risk is much bigger than winning, but for sure he thinks that it is a sure win, so he bets on it. In sports, comebacks are not rare right now, unlike before, so for sure his emotion when the opponent got the winning points can't be explained. The lesson here is that we should bet what we can afford to lose. I am hoping that he is okay with losing such a huge sum of money.
Well said and that's exactly what's going on, in gambling you can't be too sure of yourself in achieving a particular result because things fall apart, to my greatest surprise is that the amount he's winning is far less compared to the one he's intending to win, which means taking the risk is never worth it at first place, he just deceived himself by the odds he sees and hos over curiosity landed him to being humiliated by the casino.
January 31, 2023, 02:55:41 PM
Anything more than 1.98x is riskier for me. I have seen many people losing their bets at 1.99x.
I think 1.98x is still safer. Anything less than 1.10 is a lot riskier. You are basically going all in for just a mere 10% profit which is insane.
Just to make a 2x gain you will have to place 6-8 bets considering you are compounding your bets.
So the ideal range for me is between 1.3x to 1.98x. I generally place all my bets inbetween this range.
But that doesn't mean odds between the range bracket 1.3x to 1.98x aren't risky too, because I have played lots of games with such odds, and yet the game got cut, which means that in most cases odds doesn't matter, and as such we should always gamble responsibly using the only amount of fund we can always afford to lose (I.e in case the unforeseen occurs), as gambling is a thing of luck, which means you can either win or lose. I think 1.98x is still safer. Anything less than 1.10 is a lot riskier. You are basically going all in for just a mere 10% profit which is insane.
Just to make a 2x gain you will have to place 6-8 bets considering you are compounding your bets.
So the ideal range for me is between 1.3x to 1.98x. I generally place all my bets inbetween this range.
But, however, it's better to target winning big and lose, than targeting small winning and still lose, just like "O.P"
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January 31, 2023, 01:56:55 PM
The wise gambler will go for better odds like 1.5 or more, the best I have known lies in the range of 1.5 to 2 odds. Going for higher odds are risky while going for lower odds more than 1.2 is a way to lose your money in bank very soon because with low odds, you will want to use big amount of money to play bet and even if you win 5 or more times, 1 big loss will make you lose all you have won and your money. What the person will think later of is to add more money to bet again which he will lose again.
Correct, but I think @[email protected] odds is still quite safe and you can maximize your profit. Some people usually tend to choose parlay option by betting huge favorite team/fighter, so the odds will be high, rather than betting on single match where the odds is only @1.10 or less. As long as you know the sport has higher chance where the underdog pull an upset, you will make a lot money.Anything more than 1.98x is more risky for me. I have seen many people losing their bets at 1.99x.
I think 1.98x is still safer. Anything less than 1.10 is a lot riskier. You are basically going all in for just a mere 10% profit which is insane.
Just to make a 2x gain you will have to place 6-8 bets considering you are compounding your bets.
So the ideal range for me is between 1.3x to 1.98x. I generally place all my bets inbetween this range.
I went all in on Argentina to win that match, but unfortunately, they ended up loosing, I lost all my money, a few thousands of dollars, Infact, if I had millions, I would have probably lost it all because I probably would have betted everything so as to increase my winning amount.
January 31, 2023, 01:45:37 PM
The wise gambler will go for better odds like 1.5 or more, the best I have known lies in the range of 1.5 to 2 odds. Going for higher odds are risky while going for lower odds more than 1.2 is a way to lose your money in bank very soon because with low odds, you will want to use big amount of money to play bet and even if you win 5 or more times, 1 big loss will make you lose all you have won and your money. What the person will think later of is to add more money to bet again which he will lose again.
Correct, but I think @[email protected] odds is still quite safe and you can maximize your profit. Some people usually tend to choose parlay option by betting huge favorite team/fighter, so the odds will be high, rather than betting on single match where the odds is only @1.10 or less. As long as you know the sport has higher chance where the underdog pull an upset, you will make a lot money.Anything more than 1.98x is more risky for me. I have seen many people losing their bets at 1.99x.
I think 1.98x is still safer. Anything less than 1.10 is a lot riskier. You are basically going all in for just a mere 10% profit which is insane.
Just to make a 2x gain you will have to place 6-8 bets considering you are compounding your bets.
So the ideal range for me is between 1.3x to 1.98x. I generally place all my bets inbetween this range.
Not sure about your last statement, if you lose millions of dollars for sure it will keep circulate inside your mind, unless you are a billionaire who are not really hurt with such amount, though in OP's case that's really something that not just him but also those who are reading his story, it will serve as a good reminder that even you are thinking that 99% is almost impossible to lose shit can still happen and you will still experienced losing it.
Lesson to learn is not to be overconfident with your chosen pick even the chance of winning is high, you are still inside gambling and losing is not impossible to happen.
January 31, 2023, 01:08:31 PM
And these rich people really know how to use gambling to get entertainment and can also spend their time well. Rich people will play with other rich people, and from there, they can get new business partners that they can invite to build a business again. While most people gamble to make money, rich people gamble to get business opportunities from their other partners.
Indeed, some rich people use gambling as a means for them to meet and get a business partner, but only a few and not all of them are like that.There are also rich people who gamble with the aim of being able to make a profit and multiply their money.
However, from some of my experience while in the world of gambling, it is true that people who have excess wealth will use gambling as a field to be able to multiply their money and enrich themselves. In fact, almost every time they have time to gamble, they will continue to gamble until they really get what they have. they want.
What they like are the likes and the followers they can get through gambling, and if I am correct with my guess this is a reason for gambling that probably did not existed a decade or two ago.
January 31, 2023, 12:45:33 PM
He risks his $1.4M to win $11,200 if his team won.
In gambling, anything can happen, even if you think you have a 99% winning percentage, but there is still a 1% chance that you will lose, and that mostly happens to him. The risk is much bigger than winning, but for sure he thinks that it is a sure win, so he bets on it. In sports, comebacks are not rare right now, unlike before, so for sure his emotion when the opponent got the winning points can't be explained. The lesson here is that we should bet what we can afford to lose. I am hoping that he is okay with losing such a huge sum of money.
January 31, 2023, 10:35:59 AM
The wise gambler will go for better odds like 1.5 or more, the best I have known lies in the range of 1.5 to 2 odds. Going for higher odds are risky while going for lower odds more than 1.2 is a way to lose your money in bank very soon because with low odds, you will want to use big amount of money to play bet and even if you win 5 or more times, 1 big loss will make you lose all you have won and your money. What the person will think later of is to add more money to bet again which he will lose again.
Correct, but I think @[email protected] odds is still quite safe and you can maximize your profit. Some people usually tend to choose parlay option by betting huge favorite team/fighter, so the odds will be high, rather than betting on single match where the odds is only @1.10 or less. As long as you know the sport has higher chance where the underdog pull an upset, you will make a lot money.Anything more than 1.98x is more risky for me. I have seen many people losing their bets at 1.99x.
I think 1.98x is still safer. Anything less than 1.10 is a lot riskier. You are basically going all in for just a mere 10% profit which is insane.
Just to make a 2x gain you will have to place 6-8 bets considering you are compounding your bets.
So the ideal range for me is between 1.3x to 1.98x. I generally place all my bets inbetween this range.
January 31, 2023, 10:19:34 AM
And these rich people really know how to use gambling to get entertainment and can also spend their time well. Rich people will play with other rich people, and from there, they can get new business partners that they can invite to build a business again. While most people gamble to make money, rich people gamble to get business opportunities from their other partners.
Indeed, some rich people use gambling as a means for them to meet and get a business partner, but only a few and not all of them are like that.There are also rich people who gamble with the aim of being able to make a profit and multiply their money.
However, from some of my experience while in the world of gambling, it is true that people who have excess wealth will use gambling as a field to be able to multiply their money and enrich themselves. In fact, almost every time they have time to gamble, they will continue to gamble until they really get what they have. they want.
January 31, 2023, 10:12:23 AM
The wise gambler will go for better odds like 1.5 or more, the best I have known lies in the range of 1.5 to 2 odds. Going for higher odds are risky while going for lower odds more than 1.2 is a way to lose your money in bank very soon because with low odds, you will want to use big amount of money to play bet and even if you win 5 or more times, 1 big loss will make you lose all you have won and your money. What the person will think later of is to add more money to bet again which he will lose again.
Correct, but I think @[email protected] odds is still quite safe and you can maximize your profit. Some people usually tend to choose parlay option by betting huge favorite team/fighter, so the odds will be high, rather than betting on single match where the odds is only @1.10 or less. As long as you know the sport has higher chance where the underdog pull an upset, you will make a lot money.Anything more than 1.98x is more risky for me. I have seen many people losing their bets at 1.99x.
I think 1.98x is still safer. Anything less than 1.10 is a lot riskier. You are basically going all in for just a mere 10% profit which is insane.
Just to make a 2x gain you will have to place 6-8 bets considering you are compounding your bets.
So the ideal range for me is between 1.3x to 1.98x. I generally place all my bets inbetween this range.
January 31, 2023, 09:55:44 AM
The wise gambler will go for better odds like 1.5 or more, the best I have known lies in the range of 1.5 to 2 odds. Going for higher odds are risky while going for lower odds more than 1.2 is a way to lose your money in bank very soon because with low odds, you will want to use big amount of money to play bet and even if you win 5 or more times, 1 big loss will make you lose all you have won and your money. What the person will think later of is to add more money to bet again which he will lose again.
Correct, but I think @[email protected] odds is still quite safe and you can maximize your profit. Some people usually tend to choose parlay option by betting huge favorite team/fighter, so the odds will be high, rather than betting on single match where the odds is only @1.10 or less. As long as you know the sport has higher chance where the underdog pull an upset, you will make a lot money. January 31, 2023, 04:49:22 AM
In gambling, anything can happen, even if you think you have a 99% winning percentage, but there is still a 1% chance that you will lose, and that mostly happens to him. The risk is much bigger than winning, but for sure he thinks that it is a sure win, so he bets on it. In sports, comebacks are not rare right now, unlike before, so for sure his emotion when the opponent got the winning points can't be explained. The lesson here is that we should bet what we can afford to lose. I am hoping that he is okay with losing such a huge sum of money.
The wise gambler will go for better odds like 1.5 or more, the best I have known lies in the range of 1.5 to 2 odds. Going for higher odds are risky while going for lower odds more than 1.2 is a way to lose your money in bank very soon because with low odds, you will want to use big amount of money to play bet and even if you win 5 or more times, 1 big loss will make you lose all you have won and your money. What the person will think later of is to add more money to bet again which he will lose again.That is true. He could have wagered over 50 times less for the same gain if he did a bet at 1.5 odds instead of 1.008. I guess this result is another example that the seemingly impossible is very much possible.
January 31, 2023, 03:40:28 AM
In gambling, anything can happen, even if you think you have a 99% winning percentage, but there is still a 1% chance that you will lose, and that mostly happens to him. The risk is much bigger than winning, but for sure he thinks that it is a sure win, so he bets on it. In sports, comebacks are not rare right now, unlike before, so for sure his emotion when the opponent got the winning points can't be explained. The lesson here is that we should bet what we can afford to lose. I am hoping that he is okay with losing such a huge sum of money.
The wise gambler will go for better odds like 1.5 or more, the best I have known lies in the range of 1.5 to 2 odds. Going for higher odds are risky while going for lower odds more than 1.2 is a way to lose your money in bank very soon because with low odds, you will want to use big amount of money to play bet and even if you win 5 or more times, 1 big loss will make you lose all you have won and your money. What the person will think later of is to add more money to bet again which he will lose again. 
January 31, 2023, 03:24:32 AM
And if he takes the risk but instead continues to play and uses big money as a bet, it is highly not recommended because there is a loss that can occur at any time, and his defeat finally proves that. People with a lot of money may accept such a large amount, but if it ends up spending all their money on the gambling table, it is the same as taking a risk but not knowing how to deal with big risks.
Rich people dare to place big bets, and they can accept the risk of losing their money at any time. Maybe they're after the winning money they can get by placing that big bet, so it's normal for them.
By knowing the risks that will be accepted and the consequences of betting large amounts, they must also have spare money to be able to bet if the first bet loses and the money is lost.Rich people dare to place big bets, and they can accept the risk of losing their money at any time. Maybe they're after the winning money they can get by placing that big bet, so it's normal for them.
The reserve money will be used with the aim of betting again to be able to win it and restore losses from previous losses.
If we follow and pay close attention to how the rich people play or bet, it will be difficult to understand because they bet using their logic based on a large enough capital that no matter how they do it they will continue to win.
And as far as I know rich people will play gambling with a calm mind and don't really think about the fun in gambling because their main goal is to be able to win and get more money.
From every decision they make when playing, it is always in mature minds and it will be difficult for us to be able to follow their way of playing because we can still feel the fun and excitement in a game, while the rich don't at all.
Therefore, almost all rich people do not want to play or bet carelessly.
And these rich people really know how to use gambling to get entertainment and can also spend their time well. Rich people will play with other rich people, and from there, they can get new business partners that they can invite to build a business again. While most people gamble to make money, rich people gamble to get business opportunities from their other partners.
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