This is the reason why they call it gambling. You gamble for luck and if it doesn't favor you, you lose the amount.
This has what happened here. The gambler used $1.4 million but luck didn't favored him.
What I wonder is if he can gamble such a huge amount in one single bet then how much more would he be having.
Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 57. (Read 8226 times)
January 19, 2023, 11:20:12 AM
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January 19, 2023, 10:49:40 AM
What an unlucky fellow. I just hope, he really is a millionaire coz if not that is certainly depressing and might do the unthinkable. An average person would earn it in more or less than 10yrs of hard work. DK did a good job of protecting the identity of the bettor from further embarrassment or humiliation but not so much since it got leaked to Bleacher Reports not unless it has consent from the bettor.
This is one of the reasons why I'm not a fan of low odds, be it in sports betting or any casino games. I'm just wondering if he did it before. Not a million, but he bet a decent amount in low odds. He does not seem a first-timer to do such an extreme bet.
I also guess he is a millionaire who uses a lot of money to gamble. But if he is not a millionaire but just has a lot of money saved, it would not be worth using that money to gamble because he could just make an effort to make more money. Or maybe he accidentally placed a bet with low odds. There is still a lot of speculation about what happened to him to suffer such a big defeat while we don't know the truth. This is one of the reasons why I'm not a fan of low odds, be it in sports betting or any casino games. I'm just wondering if he did it before. Not a million, but he bet a decent amount in low odds. He does not seem a first-timer to do such an extreme bet.
January 19, 2023, 07:15:17 AM
what your opinion about this gambling issue? did you had experience similar experience?
That is sports betting for you. Even with favorable odds and a win is almost certain, there is always a random factor that can affect the result. Just like what happened in the game where the person bet $1.4m while the Charger is leading 27-0, then a surprising turn of events happen when the opposing team (Jacksonville) made an epic comeback winning the game with 31-30.[1]
This scenario had proves that sports betting is not all skills and game analysis, it is also affected by luck and many random things.
Quote
how a good gambler should avoid such mistakes?
A good gambler should have a good understanding of the game and the gambling odds. He should also have a good understanding of bankroll management and should have tried to limit his bet to avoid massive losses. A good gambler always gambles responsibly and views gambling as entertainment and not a way to make money.
[1] https://nypost.com/2023/01/15/gambler-loses-massive-1-4-million-bet-on-chargers-jaguars-game/
January 19, 2023, 06:58:05 AM
Because it risked $1.4 million in a single match, the gambler is very rich. Because there are no gambling strategies that guarantee a hundred percent winning outcome, I would not call it a mistake. It was just a typical unlucky wager that was intended to win frequently.
If the unfortunate gambler used half of his or her personal savings to attempt to profit from extremely low market odds, the bet would be a mistake. It becomes a reckless wager and he or she has a gambling problem that has to be resolved.
If the unfortunate gambler used half of his or her personal savings to attempt to profit from extremely low market odds, the bet would be a mistake. It becomes a reckless wager and he or she has a gambling problem that has to be resolved.
If he can spend that amount for betting then he's somehow can be consider rich since he can afford to take that risk just to try his luck to win. But unfortunate incident happen then he lose maybe learn a hard lesson for that or he will be challenge to test out how lucky he is on next playing time.
January 19, 2023, 06:39:45 AM
What an unlucky fellow. I just hope, he really is a millionaire coz if not that is certainly depressing and might do the unthinkable. An average person would earn it in more or less than 10yrs of hard work. DK did a good job of protecting the identity of the bettor from further embarrassment or humiliation but not so much since it got leaked to Bleacher Reports not unless it has consent from the bettor.
This is one of the reasons why I'm not a fan of low odds, be it in sports betting or any casino games. I'm just wondering if he did it before. Not a million, but he bet a decent amount in low odds. He does not seem a first-timer to do such an extreme bet.
This is one of the reasons why I'm not a fan of low odds, be it in sports betting or any casino games. I'm just wondering if he did it before. Not a million, but he bet a decent amount in low odds. He does not seem a first-timer to do such an extreme bet.
January 19, 2023, 06:01:27 AM
Because it risked $1.4 million in a single match, the gambler is very rich. Because there are no gambling strategies that guarantee a hundred percent winning outcome, I would not call it a mistake. It was just a typical unlucky wager that was intended to win frequently.
If the unfortunate gambler used half of his or her personal savings to attempt to profit from extremely low market odds, the bet would be a mistake. It becomes a reckless wager and he or she has a gambling problem that has to be resolved.
If the unfortunate gambler used half of his or her personal savings to attempt to profit from extremely low market odds, the bet would be a mistake. It becomes a reckless wager and he or she has a gambling problem that has to be resolved.
January 19, 2023, 05:37:36 AM
You know.... a lot of those gamblers are using this strategy to fund their gambling career. He bet $1.4M to win $11,000 on low odds to use that money to bet on more risky bets with higher odds.
He might have done that 100 or 200 times before with success .... and now it backfired on him with this loss. This is just what gambling are about.... you do not have 100% guaranteed bets that work all the time.
We had several upsets in the Soccer World Cup of 2022.... where the odds was stacked against those losses... but we still took those bets and we won, so it can work for you.. when the tables are turned.
sometimes sports betting is always filled with disappointment because we get low odds we should already be sure that it will win, but again it's down to luck too, we can lose in one game which will mess everything up, considering the world cup a lot of money which I lost a lot there because it is difficult to guess the direction of the national football team and moreover there are many surprises that happened there, I will have a hard time sleeping if I lose the money that was told by the OP He might have done that 100 or 200 times before with success .... and now it backfired on him with this loss. This is just what gambling are about.... you do not have 100% guaranteed bets that work all the time.
We had several upsets in the Soccer World Cup of 2022.... where the odds was stacked against those losses... but we still took those bets and we won, so it can work for you.. when the tables are turned.
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January 19, 2023, 05:25:12 AM
this is how greedy gamblers end , after trying to make money from bets ending with one bet with huge amount , a lesson that earned the very hard ways. hope that this gambler is a millionaire that won't end His life just because of this devastating outcome of His action.
I can relate to this but mine is just a peanut and a result of my greediness and i also doing this sometimes because of the thrill and nothing more.
You are right indeed, and this was the same thing i was think about when i first came across this news yesterday, the gambler in question should better be a multi millionaire or even a billionaire, else, i think it is only by the grace of God that he wont end his life.I can relate to this but mine is just a peanut and a result of my greediness and i also doing this sometimes because of the thrill and nothing more.
But then also, my assumptions is that, for someone to risk such an amount of money to bet on one game, simply means that person must be super wealthy, I am particularly not bothered, except the person comes out to let the public know that he lost everything he had on that bet, then that is when i will become really concerned for him.
But on the other hand, i am happy for the casino that made this money, casinos are indeed rich.
January 19, 2023, 05:13:50 AM
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 think we might be blowing the story out of proportion. If he has $ 1.4 million dollars for betting, he definitely has more for himself. I doubt he bet his life's savings (or at least I hope so). For some people 1.4 mill is not worth talking about. In fact it might just like losing half a years in earnings for them. Slightly stings to lose that amount but they will have more.
lower than 1.01 is still something that carries a risk with it. Not as much as other odds but you cannot call it a sure thing. In fact, if he bets regularly, there is no doubt in my mind that it has happened to him before.
January 19, 2023, 04:40:46 AM
This is really a sad story and I don't know what must have prompted him to wager away such amount of money, maybe I guess he overlooked the other players and then the unexpected happened.
I'm so sorry for him but I think this is a wake-up call for all gamblers so we can know that in the business of gambling, nothing is guaranteed and anything can happen at anytime.
I couldn't click on the link but I would also love to know what sort of game he played like that and how much was he expected to make if he at some point won the game.
I hope we all learn from this and try not to bite more than we can chew.
I'm so sorry for him but I think this is a wake-up call for all gamblers so we can know that in the business of gambling, nothing is guaranteed and anything can happen at anytime.
I couldn't click on the link but I would also love to know what sort of game he played like that and how much was he expected to make if he at some point won the game.
I hope we all learn from this and try not to bite more than we can chew.
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January 19, 2023, 02:46:03 AM
- 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?
These are some fixing I believe. No cricket expert would have bet for batting 2nd yesterday.
January 19, 2023, 01:55:50 AM
Gambling is gambling, no matter what the odds is.
This is why I don't want to gamble on very low odds to win low money, it's better for me to gamble on high odds to win high amount money.
Although low odds will increase the chance you will win, but you will wasting time since you need to make many bet in order to make good amount of profit. However I think such unlucky moment is mostly happen on dice or other house game rather than in sport.
Right. But there are times when we have to realize the opportunities we have after playing for a while because if we only lose or can only get small wins, it won't matter if we try to bet on high odds. We must be able to moderate the level of our game so that we don't experience large losses. It is also useful for controlling emotions in playing because there are times when our emotions will rise high, and in the end, we can lose control.This is why I don't want to gamble on very low odds to win low money, it's better for me to gamble on high odds to win high amount money.
Although low odds will increase the chance you will win, but you will wasting time since you need to make many bet in order to make good amount of profit. However I think such unlucky moment is mostly happen on dice or other house game rather than in sport.
Dice games need luck, so you don't need to change your bet to a high one, and it's better to keep playing as usual. Luck will come to us, especially for people who are patient in gambling.
January 19, 2023, 01:33:03 AM
what your opinion about this gambling issue? did you had experience similar experience? how a good gambler should avoid such mistakes?
with lower odds, it should have been a win. but in gambling, we all know that other factors affect the outcome of our bets.
Luck is one thing that makes any gambler successful.
therefore do not put most of our money in one big bet. although with a pretty good chance of winning. I will not bet if the Odds offer is like that. it won't be so profitable when the stakes are small. therefore the person made such a big bet that it made him lose all his money in a stupid bet.
January 19, 2023, 01:00:20 AM
You know.... a lot of those gamblers are using this strategy to fund their gambling career. He bet $1.4M to win $11,000 on low odds to use that money to bet on more risky bets with higher odds.
He might have done that 100 or 200 times before with success .... and now it backfired on him with this loss. This is just what gambling are about.... you do not have 100% guaranteed bets that work all the time.
We had several upsets in the Soccer World Cup of 2022.... where the odds was stacked against those losses... but we still took those bets and we won, so it can work for you.. when the tables are turned.
He might have done that 100 or 200 times before with success .... and now it backfired on him with this loss. This is just what gambling are about.... you do not have 100% guaranteed bets that work all the time.
We had several upsets in the Soccer World Cup of 2022.... where the odds was stacked against those losses... but we still took those bets and we won, so it can work for you.. when the tables are turned.
January 19, 2023, 12:49:02 AM
Gambling is gambling, no matter what the odds is.
This is why I don't want to gamble on very low odds to win low money, it's better for me to gamble on high odds to win high amount money.
Although low odds will increase the chance you will win, but you will wasting time since you need to make many bet in order to make good amount of profit. However I think such unlucky moment is mostly happen on dice or other house game rather than in sport.
This is why I don't want to gamble on very low odds to win low money, it's better for me to gamble on high odds to win high amount money.
Although low odds will increase the chance you will win, but you will wasting time since you need to make many bet in order to make good amount of profit. However I think such unlucky moment is mostly happen on dice or other house game rather than in sport.
January 19, 2023, 12:29:54 AM
In today's market price the gambler have risked around 67BTC for a mere winning of 0.51BTC, for which he could've chosen the opposite odds. As said gambling gives unexpected outcomes irrespective of the odds. This is one such example that the low odds too fail, even though the winning probability is high. If I'm not wrong, this loss will give him a learning or he'll turn to be a addicted gambler looking to recover the massive loss that happened completely unexpected.
January 19, 2023, 12:07:03 AM
Wow. That is one of the worst losses that I have heard of in the gambling world. 1.01 or lower are generally considered sure bets, but there is always that extremely small chance of losing them if luck isn't on your side.
Regardless of whether he is rich or not, he surely regretted and felt mad about losing that kind of money on such a worthless bet. Personally, I would have invested all of that money into BTC when it went down and HODL until it went back up.
That would have fetched him 10% - 20% profit quite easily in the short-term.
Regardless of whether he is rich or not, he surely regretted and felt mad about losing that kind of money on such a worthless bet. Personally, I would have invested all of that money into BTC when it went down and HODL until it went back up.
That would have fetched him 10% - 20% profit quite easily in the short-term.
January 19, 2023, 12:02:31 AM
this is how greedy gamblers end , after trying to make money from bets ending with one bet with huge amount , a lesson that earned the very hard ways. hope that this gambler is a millionaire that won't end His life just because of this devastating outcome of His action.
I can relate to this but mine is just a peanut and a result of my greediness and i also doing this sometimes because of the thrill and nothing more.
I can relate to this but mine is just a peanut and a result of my greediness and i also doing this sometimes because of the thrill and nothing more.
January 18, 2023, 11:52:45 PM
Anyway, to bet bigger amounts on very low odds is one strategy that is actually understandable. I did it. Majority of us certainly did it. After all, how are you going to make money with odds as low as 1.008 if you don't bet big? But I agree with you that the problem really is that he/she overdid it by risking $1.4 million. But it also depends on how rich he/she is. To his/her wealth, it might not really be "overdid."
The few times I bet on something other than poker, I prefer the opposite, to have low odds but that if I win, I get a big prize. The strategy that he used in this case, although safe there is always a risk of loss, and to be able to lose so much to win so little does not call my attention. Besides it is more boring. If you win, it's normal, and if you lose, you'll shit your pants.
January 18, 2023, 10:33:23 PM
I guess the usual generalization is that if the odds is 1.01, it must be a sure win. In percentage, that's 99% chance of winning.
In any sport, that's the impression when it comes to moneyline. Even 1.70 is enough of a guarantee that it's more than 50% winning rate so obviously was want to win. The problem is that he overdid it with the odds of 1.01 and with $1.4M risk.
No, 1.70 is not low odds. That's just more than 50% chance of winning, but less than 60%. That's almost 50:50. That can't be considered one of those "sure win" type of low odds.
Anyway, to bet bigger amounts on very low odds is one strategy that is actually understandable. I did it. Majority of us certainly did it. After all, how are you going to make money with odds as low as 1.008 if you don't bet big? But I agree with you that the problem really is that he/she overdid it by risking $1.4 million. But it also depends on how rich he/she is. To his/her wealth, it might not really be "overdid."
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