Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 6. (Read 8226 times)

When it comes to gambling, whether or not the gambler carry out any form of research before placing the bets is not important and that is what makes the big difference if the gambler depends on just luck even though he has made a lot of game's analysis, this is why sometimes, analysis seems to be worthless and only luck can give the winning, this is very important because at some point we have all experience a similar loses even though we made a lot of analysis, their will fail at some point and when that happens, luck becomes the only considerable factor to determine who wins and who lose.

Like in the case of this gambler, for him to have committed such an amount of money on the bet it show's that he have a lot of analysis about the games and looking at the odds you should know that he did have such plans as winning by all means, but luck was ont on his side that day so he lost the entire amount.

You are wrong with this disposition bro, first, no gambler would go for a very low odd if they are not certain about the betting, and even with the bookies to have offered that kind of low odd means that they knew it is almost certain that the bettor would win. Now, the gist is that even if the chance is high in any bet, perhaps, the bettor has a 99.5% chance of winning, we should never still undermine the disaster that the remaining 0.5% chance of losing could cause. That was what I believe played out in the unfortunate experience of the guy.

Another reason for you not to find an excuse for him is that no one can commit a whole $1.4m to a bet and not be certain of his betting, it's money we are talking about. Lastly, it's a misconception to say that odds cannot be lower than 1.01, have you tried all casinos/sportsbooks in the world?

Yes we can assume that it's a mistake or even intentionally made by the casino itself to make bettors confident in the possibility of winning, but basically we don't know how to verify that about the casino with its research, the lower leagues are more difficult to predict in my opinion, unless you really understand the team that is competing compared to the betting provider itself, maybe you will be more able to take advantage of the opportunity.

$1 million is a lot of money, it might even take us a long time to collect it, I also can't lose that much money in betting, but it's subjective about the risk each bettor takes.

I agree with you with the main part. But have to mark that there are situation when the casino mistaken. It is true mostly for low leagues with bet limits and casino mostly make a return of the bet, but i`ve got tasty odds and win on such events.
Here i don`t think that there is a chance of a mistake, but i meant that i will try my best to be sure that it is impossible to lose such money.

Well, one sure thing with gambling, or betting rather; is that, even a thorough research or analysis before placing that bet does not guarantee that you will win, it only maybe increases your chances by tiny bits, which means that, you are more sure of what you are doing, much better than the person who is just guess-betting.

So, even if the gambler in question did a research before placing this bet, there was no guarantee of winning, which is what several gamblers sometimes fail to understand.
If every gambler will understand that there are no guarantees in gambling/betting, maybe we all will learn to bet or risk only the amount of money we can afford to lose, and nothing more.

There is no way for us to know if this gambler has done his own research before placing that bet but what's for sure is that the odds can't be lower than 1.01.
Also, we should not forget that the odds providers do their own research too and they are definitely more resourceful than any regular gambler. So, it's unlikely that he will find an information that the odds provider doesn't already know about.

To understand what he thought about we must bet ourselves at least one million. And even after it i don`t sure that we will think the same. If i will bet $1.000.000 even with such odds, i will analyze everything i can, even if someone ate an ice-cream a day before. For someone it can be just a standard bet, someone can make 10-20 such bets per day. Without additional information we can`t count the result.

Rakeback looks tempting at first impression, but I don't know many gamblers who had success pursuing profit this way at casino platforms. The story shared on this thread is a good example of why rakeback shouldn't be artificially pursued by gamblers, rather it should be just considered extra profit from usual gambling sessions along the time.

Low odds and rakeback look safe and a potential source of steady income on long run, however when the gambler executes the plan for real, things don't go so well as we can see. It's not advisable to gamble with low odds, because besides not being profitable, you just need a single loss to have a large portion of your money gone. It's preferable to increase the odds while decreasing the bet size.

It's too frustrating to lose so much money placing a bet which you had more than 90% winning chances.

I don't know why you guys keep calling him stupid! What if he had won more than 100 bets before that, would you still call him stupid? He was just unlucky and that happens a lot on gambling.
Betting smaller amounts on higher odds will lead to the same result on the long run. The only difference is that he will, likely, have the chance to place more bets and extend his betting session.

People do really love on drawing out some conclusions on which it would really be just that normal. Even though we dont know the entire story or even do know that someones bankroll then we would be able to assume that the certain gambler is really that broke up or have lost it all. Its really just that too wrong that someone would really be having those kind of words that it is a bad strategy but same as you said that it would really be that impossible for someone to make out some decisions without having those kind of considerations about on the risks involved. 1.01 odds isnt something that you could really be that able to see yourself to be an opportunity to make money. It isnt really just that worth of the risks on making out such million of amount in terms of bets. If someoen could be able to afford such thing then just let them be.

It is really just that not likely they arent aware on the risks involved. Its never been that worth on having those kind of risks bets into and odds on which is really that considered lowest. 100% winning
bet doesnt exist and there's always that chance or odds that upsets could happen. If someone is really that having those kind of bets into that kind of amount with those specific odds then it do really
shows that he's really that too confident with that but well shit things happen and no matter how it is heavily favorited but doesnt mean that someone cant lose. Always
bare up with this into your mind and thats why im not really that confident on doing some all in bets.

Ive read people doing this kind of bet recently, not with millions but large amounts and the reasoning in that case was the offers based around rakeback; they were only available for betting large amounts.  Various offers encourage betting and that might explain why the risk was taken on such a large for the low reward.

  Obviously no bet is safe but thats easy to say after the fact, I'd be devastated by it but maybe it was just play money for them.

Well, for those of us that have been following this thread and discussions on it since the very beginning, we possibly have seen that stupidity thing far more that a hundred times, and by now, I did say that this possibly have happened and we that it has not happened to should endeavor to learn from this.

Even if that dude who was behind this bet was a billionaire, that is not enough justification to be this stupid as to waste such an amount of money on a single bet with odd as low as 1.01, that is, risking a whooping $1.4 millions dollars for a reward of 0.01 percent, I wouldn't pity the gambler if this was actually all the money he had and then lost it all this way, but all the same, lucky is the casino where the game was played on.

It is your point of view. But it doesn`t mean that all other gamblers think the same. I don`t want to say that you is mistaken, but there are different strategies.
I saw how gamblers won with the odd 100, but they bet from $20 to $100. Here we see how someone bet big money to get small but stable profit. Here he mistakes but we can`t say that he lost all his money or that his strategy is bad - we just don`t have enough information.

What you should looked at is how wealthy he is for wasting the sum of $1.4m to gamble I don't know how rich he may be but I think the risk is much because even though he is so wealthy he could have tried to reduce his betting amount. The bet doesn't give him about 2x or 1.5x is actually reasonable than wasting huge amount for a bet less than 0.1 to me I see it as stupidity instead wasting such amount.

There are two things that make lose find place in ones bet, one is of the odds are like 1.01, the gambler will not be satisfied with the potential amount no matter how much he used to stake on the games, which means that the gambler will need to add more games for the odds to increase up to 1.50 or 2 odds if possible. And the more games you add the more loss finds place on the games.
Two is that if the odd is very big loss can also be closer to the games because most big odds are like a trap set for a gambler. But the truth remains that a gambler needs luck to win his bet.

If he analyze event he bet - he can win 1000, 10000 times before one such bet. Of course he can lose at the start but we don`t know anything about his bets and strategy. If he has an opportunity to make several such bets one time - he can easily find several such matches per day. Even if he make 3 bets per day - it will take 3 moths to get million.
PS. I don`t like such bets, but without some additional details we can`t say that it was silly decision.

Risking a wooping sum of 1.4 million dollars on a bet is quite crazy and somewhat unbelievable, but since we know from experience how crazy some gambler's can be with amount they stake on bet make us to believe this story and for that we need to clarify what our stance will be if we are find ourselves in such a position at to take the next bet, for me I won't risk any amount that higher than $500 on a single bet regardless what the odds may be, I know in this situation, the gambler was tempted to splash such a huge amount of money on the bet because of the promising odds, but not knowing that odds are not a guarantee when it comes to Gambling.
Between I hope the gambler won all the entire 1.4 million from his previous bets because that is the only way he can have some level of relief from this big lose.

So true. The most painful part is your 2 losses out of 100 sometimes greater than your total earnings on 80 bets won due to profit is too small to cover the bet loss. It’s so frustrating and at the same time such a waste of time.

It’s better to bet on regular odds bet as long as you properly analyze it since a 60% and above winning percentage can still put you in profit.

Dont know on whats on their minds on why they do really end up on that kind of betting consideration in trying out to compare or trying to look on the potential winning and the potential money that they could lost, or simply with the risks management thing or in concern then there is really no balance or simply its not really that worth on taking up such step or such bet. Well, its their money to be used then its up to theirs if they would really be able to bare up with the risks involved. There would really be no issues since its their money, it is really just that something that gives out some questions on how the heck these gamblers or bettors do make out such bet without even trying to think whether its worth or not. Even if we do say that this guy is really that a millionaire but if he would really be continuing such habit
then it wont really be shocking that he would really be sleeping on the streets.

As long the odds wont really be dropping to zero then it would really be that understandable that odds of losing is really there no matter how small it would be.
Even myself as a millionaire wont really be tending or trying out to make bets on 1.01 bets no matter how it do looks 99% winning rate of a certain game.
We do know that shitty upsets could happen and could fuck you up hard. 

I have to completely agree with you bud, and this is because if we check it well, even the profit that should have been made from this bet assuming the player won it, is not even worth the amount of money that player staked on the bet, which he lost as we all can see.

This I believe I have mentioned sometime before here on this discussion, I am a type of person and gambler that like or love to compare possible reward and the capital being Staked to potentially get that reward, If the reward is too small compared to the amount of money being put to risk of losing, then I often usually don't see that as a good bet.
What I do see as a good bet is when risk and potential reward tally, that is, if one win such bet, he's happy because the reward is worth the risk taken, but if lost, he bares it and try again.

Risking $1.4 million dollars for a potential reward of just about $11k is totally off sided for me, a very foolish risk to take.