Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 6.

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Quote from: delfastTions on April 11, 2023, 08:09:37 AM

Gambling security certainly plays a huge role in the life of any gambler.

But if a player makes very small bets and just plays for fun and does not plan to get some really big winnings, then the issue of security is of course not that particularly important.
But when the amounts of bets and winnings begin to amount to thousands of dollars, then of course you should take care of your safety.
I'm not saying that the one who won more than a million dollars, as discussed in this topic, then here you should already hire bodyguards and security for operations with such a large win, or some kind of financial transactions with a rate of the same size as the one that lost this "strange gamer" about which everyone writes from this topic.

There should be no security concerns if one is playing online, whether they win or lose unless the casino platform management themselves breach the security and privacy of the users and use their information illegally to blackmail or threaten them for money, but you can barely find such cases considering there are a lot of people using such money in gambling platforms.

The only concern for them should be their losing habit and they need to control that if they want to stop losing significant amounts of money every day. Losing millions or dollars every day can make anyone bankrupt no matter how much money they have.

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Quote from: Jody.Drummer on April 10, 2023, 11:47:48 AM

Quote from: ethereumhunter on April 09, 2023, 10:37:08 AM

Two things can happen to that guy: he will feel pain and regret or he will feel nothing because he is still a billionaire who still has a lot of money. We also won't know what he feels, but we can still learn from him to always limit our gambling, especially using money to gamble.

Gambling can indeed provide big profits but also vice versa. We can experience big losses, especially if we can't limit the money to bet. And we must indeed weigh the risks wisely because whatever it is, we are only using gambling for fun.

The condition is still possible for both of them because we also don't know whether he is a billionaire or not Cheesy

If indeed he spends all that money on one bet and he really loses everything then surely it will give him a long headache but on the other hand if it is a billionaire then they will be fine and will probably just laugh like Neymar did recently where he lost quite a lot in just over an hour.
But as you said, there is a positive side to this and of course this can also be a reminder that in gambling even if the odds are very small it doesn't mean it's something that can be won easily because something like this could happen.

If he were Neymar, maybe he would laugh again but we only know that he has already lost a lot of money playing gambling, so we have to stay away from spending a lot of money like him. After all, we're not billionaires (I mean, we're not billionaires yet Grin

).

So we better just take the positives for us so we don't play gambling with lots of money. And even though there is a possibility for us to win and it turns out we win, we must be able to stop ourselves from continuing the game and stop immediately before everything changes.

mak013

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Quote from: Odusko on April 10, 2023, 01:57:20 AM

Quote from: mak013 on April 10, 2023, 01:36:32 AM

In gambling you always can lose. It is possible that this gambler has a strategy with lots of big bets with small odds. But even in such strategy he has tp remember that it is possible to lose. In such situation it can be a lesson for us - what is money management. But the same time it is possible that it is all his money and he decided that he has found a way to get easy money. Thus, he received a lesson that he no longer needs.

I think it is better to have the mindset of losing event though you intend to win, this way if the outcome of the bet does not go in your favour you can easily move on.
Gambling is always associated with losing more than winning, since the casino is designed to function that way the house is always placed at an advantage and it will take high luck to win over the house, take the ops in this situation,, for example he risk such amount because of his conviction of winning the bet, but as thing will turn in reality with casino he ends up losing a very huge amount on a sure game.

Yep. It is the best way in gambling for fun. But it seems that this gambler made gambling a way of income and in such situation it is difficult if you don`t use money management. Such situation is normal for gambling, the most interesting moment is about bank of the gambler and the quantity of such bets. But we willn`t know about it i think.

Quote from: wiss19 on April 10, 2023, 02:19:54 AM

Quote from: mak013 on April 09, 2023, 04:35:05 AM

Without information from the gambler we can`t say that it was a lesson for him. If he has an opportunity to make several same bets same time - he has good chances to get more profit than this lose.
If he makes 3-5 such bets per day - he can get more money for a month. Of course he doesn`t like this situation but i don`t sure that it is critical for him.

You are right that it might not be a lesson for him since he might have a very big bankroll for gambling, but it surely is a lesson for everyone else to understand that gambling is purely based on luck, so if someone with 1.01 odds can lose, then anyone with any bet can lose or maybe win if they are lucky enough but the house edge will mostly make you lose.

And what you said isn't actually true. What makes you think that he wouldn't have lost any of the other bets if he did more betting in the same time? And how can someone make any profits if they are playing with 1.01x odds and losing millions of dollars in the middle since house edge is always there?

The same time no one said, that all his bets were with the 1.01 odds. I just talking that it is possible lose for strategy of low odds bets.
And of course it is a lesson for other gamblers that there is no guarantee even with such odds.

delfastTions

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Quote from: Desmong on April 10, 2023, 04:37:50 PM

We need to seek for our own safety whenever we are making bets on a Gambling platform to ensure that we take the proper risk in order not to fall Victim to loses. Greed is one reason that used to make people to make loses and if we add not serious, we are going to end up losing big eventually without opportunity to get our money back.

Gambling security certainly plays a huge role in the life of any gambler.

But if a player makes very small bets and just plays for fun and does not plan to get some really big winnings, then the issue of security is of course not that particularly important.
But when the amounts of bets and winnings begin to amount to thousands of dollars, then of course you should take care of your safety.
I'm not saying that the one who won more than a million dollars, as discussed in this topic, then here you should already hire bodyguards and security for operations with such a large win, or some kind of financial transactions with a rate of the same size as the one that lost this "strange gamer" about which everyone writes from this topic.

Desmong

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We need to seek for our own safety whenever we are making bets on a Gambling platform to ensure that we take the proper risk in order not to fall Victim to loses. Greed is one reason that used to make people to make loses and if we add not serious, we are going to end up losing big eventually without opportunity to get our money back.

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Quote from: Silberman on April 09, 2023, 05:32:34 PM

Regardless of whether this event happened or not many lessons can still be learned from it, but one of the most important has to be the importance of money management on everything that we do, even something as simple as making a bet requires the use of our money management skills, and if for some reason we refuse to use them then the consequences can be incredibly severe as a single mistake can be more than enough to lose so much money that recovering from it could take us years or even our entire lifetimes.

Financial management is one of the major problems many rich kids have these days, since they are both thought the value of money by the parent who may want to pamper their kids with money while the young always result in to broken adults who can easily waste a lot of money on meaningless and highly risky things such as gambling, this has been the resultant effect of many young age addiction problem.

So teaching financial value to our kids is very important same as sex education and the rest is another value-oriented lesson that is better learnt at a young age, so from this story, the big lesson is effectively learnt and going forward, everyone of us will apply this to our daily life and adventures including gambling.

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Quote from: ethereumhunter on April 09, 2023, 10:37:08 AM

Two things can happen to that guy: he will feel pain and regret or he will feel nothing because he is still a billionaire who still has a lot of money. We also won't know what he feels, but we can still learn from him to always limit our gambling, especially using money to gamble.

Gambling can indeed provide big profits but also vice versa. We can experience big losses, especially if we can't limit the money to bet. And we must indeed weigh the risks wisely because whatever it is, we are only using gambling for fun.

The condition is still possible for both of them because we also don't know whether he is a billionaire or not Cheesy

If indeed he spends all that money on one bet and he really loses everything then surely it will give him a long headache but on the other hand if it is a billionaire then they will be fine and will probably just laugh like Neymar did recently where he lost quite a lot in just over an hour.
But as you said, there is a positive side to this and of course this can also be a reminder that in gambling even if the odds are very small it doesn't mean it's something that can be won easily because something like this could happen.

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Quote from: Betwrong on April 10, 2023, 05:10:19 AM

Quote from: Fredomago on April 04, 2023, 12:40:16 AM

Quote from: Betwrong on April 03, 2023, 06:36:50 AM

If you are greedy, you often end up empty handed. That gambler from the OP was sure about making $11k out of nothing. In other words, he wanted to take all the money bet on the Jaguars, and thought it was easy. It wasn't. Even if you are so rich that you can bet over a million in one bet, don't think you are so smart too. You don't. And now all those brave gamblers that placed their bets on Jaguars are sharing your money between them.

Thinking that you can outsmart the house by placing an almost sure bet with 99% winning chances, only to find out that it will turned to the other side and the house are the one who outsmart you, they simply take away millions out of your pocket while thinking that you can just as easily cash out some thousand if in the event you got the winning team.

There's always an unusual outcome and gambling is a full of risk venue to think that you can make an easy money, always have that extra research before concluding or deciding to how you will place you bet.

I think that no one actually outsmarted him, it was just bad luck. Also the money that guy lost, $1.4 million, it didn't go to the house, did it? More than 90% of the money lost by that unfortunate guy went to the bettors who bet on the Jaguars, and the multiplier on their bet was huge, I think it was 99.00 or something.

Is there bad luck/luck? Grin

Well with the same result 50% people are happy/sad Wink

The bet was not made on an exchange so it is not said that the bet was automatically "backed" by someone who has played on Jaguars... classic bookmaker's arbitrage bets work in another way.

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Quote from: Fredomago on April 04, 2023, 12:40:16 AM

Quote from: Betwrong on April 03, 2023, 06:36:50 AM

If you are greedy, you often end up empty handed. That gambler from the OP was sure about making $11k out of nothing. In other words, he wanted to take all the money bet on the Jaguars, and thought it was easy. It wasn't. Even if you are so rich that you can bet over a million in one bet, don't think you are so smart too. You don't. And now all those brave gamblers that placed their bets on Jaguars are sharing your money between them.

Thinking that you can outsmart the house by placing an almost sure bet with 99% winning chances, only to find out that it will turned to the other side and the house are the one who outsmart you, they simply take away millions out of your pocket while thinking that you can just as easily cash out some thousand if in the event you got the winning team.

There's always an unusual outcome and gambling is a full of risk venue to think that you can make an easy money, always have that extra research before concluding or deciding to how you will place you bet.

I think that no one actually outsmarted him, it was just bad luck. Also the money that guy lost, $1.4 million, it didn't go to the house, did it? More than 90% of the money lost by that unfortunate guy went to the bettors who bet on the Jaguars, and the multiplier on their bet was huge, I think it was 99.00 or something.

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Quote from: Rabata on April 09, 2023, 12:15:03 PM

I usually use gamble money that I afford to loss. Also try to limit my bankroll and not keep my gambling balance above a certain level. Because my gambling thought may change at any time. The gambler who keep big money undoubtedly have good betting knowledge. Those who can take such big bets are rich enough. They took risks and will take risks in the future. Such a big risk is not possible for any ordinary gambler. The strategies of those gamblers will not be similar for ordinary gamblers like us.

You have done your best to limit your money and always maintain the balance in your account. A wise gambler must be able to do this and not be swayed by the temptations of successive promotions so that we don't risk losing money. And even though we use strategy, we must also avoid using money to gamble and reduce the risks that can arise from gambling.

Quote from: Wiwo on April 09, 2023, 12:58:07 PM

The best thing from this story to me is the lesson we learn from this story since the gambler who lost such an amount went overboard, and took too much of a risk to have staked such a huge amount on a single bet selection.

So the lesson is what makes the whole story essential for our discussion since we don't even know the authenticity of the story since there is no verifiable link shared along with the story, it can be a staged story without any real individual involved.

But then we can't outwrite the many lessons from the various comments and replies this has made this discussion really exciting because 1.4 million on a bet is something unbelievable to many of us.

Actually, from all of our replies, we can get a lot of lessons as you said and share many stories about our experiences. We may find it difficult to know the authenticity or continuation of the story because we also can't contact the person who experienced it. But we can learn from that story to avoid the same experience as him. And we have to spend less on gambling so we don't have the same experience as him.

tusandii

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Quote from: Fredomago on April 09, 2023, 06:16:39 AM

Quote from: tusandii on April 09, 2023, 03:08:12 AM

-snip-

Maybe for once I mean maybe you can collect a huge amount of winning from the house if you are so lucky but eventually if you will keep betting and keep coming back without any limitation with your bankroll, you'll just finding your self giving it back to the house and with losing streak you might deposit most if not all your savings and lose it with the house.

I like your opinion with the gambler who can minimize losses. It's the best practice not to lose huge and if luck permits, you may win some and you can stop playing with some winning amount in your pocket.

Yes, that's right, I also mean that friend, the same as you have said, because if you take advantage of winning to continue playing, the end result will only disappear, the worse can be bigger than the previous win.
One way to win for sure when you beat the house is to quit gambling forever when you hit a big hang win because then the winnings won't come back to the house.
But I'm not sure any gambler can do that. Grin

The average gambler has a high spirit of greed so that if they succeed in winning they will use their winnings to play and produce even more wins, but without realizing it is this kind of thing that easily destroys gamblers.

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Quote from: mak013 on April 09, 2023, 04:35:05 AM

Without information from the gambler we can`t say that it was a lesson for him. If he has an opportunity to make several same bets same time - he has good chances to get more profit than this lose.
If he makes 3-5 such bets per day - he can get more money for a month. Of course he doesn`t like this situation but i don`t sure that it is critical for him.

You are right that it might not be a lesson for him since he might have a very big bankroll for gambling, but it surely is a lesson for everyone else to understand that gambling is purely based on luck, so if someone with 1.01 odds can lose, then anyone with any bet can lose or maybe win if they are lucky enough but the house edge will mostly make you lose.

And what you said isn't actually true. What makes you think that he wouldn't have lost any of the other bets if he did more betting in the same time? And how can someone make any profits if they are playing with 1.01x odds and losing millions of dollars in the middle since house edge is always there?

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Quote from: mak013 on April 10, 2023, 01:36:32 AM

Quote from: EarnOnVictor on April 09, 2023, 08:41:33 AM

Quote from: mak013 on April 09, 2023, 04:35:05 AM

Without information from the gambler we can`t say that it was a lesson for him. If he has an opportunity to make several same bets same time - he has good chances to get more profit than this lose.
If he makes 3-5 such bets per day - he can get more money for a month. Of course he doesn`t like this situation but i don`t sure that it is critical for him.

As long as the guy is a human being, this is a lesson for him, I simply do not know why you believe he can't learn from it. We learn every day, and even if the guy is a billionaire, he would have the pinch of pain and regret in him that he could have used the money for a better thing or do not take such a stupid risk in expectation of peanut.

Gambling could come either way, yet if we have good managerial plans and always weigh our risks and outcomes to decide right, then we are wise.

In gambling you always can lose. It is possible that this gambler has a strategy with lots of big bets with small odds. But even in such strategy he has tp remember that it is possible to lose. In such situation it can be a lesson for us - what is money management. But the same time it is possible that it is all his money and he decided that he has found a way to get easy money. Thus, he received a lesson that he no longer needs.

I think it is better to have the mindset of losing event though you intend to win, this way if the outcome of the bet does not go in your favour you can easily move on.
Gambling is always associated with losing more than winning, since the casino is designed to function that way the house is always placed at an advantage and it will take high luck to win over the house, take the ops in this situation,, for example he risk such amount because of his conviction of winning the bet, but as thing will turn in reality with casino he ends up losing a very huge amount on a sure game.

mak013

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Quote from: EarnOnVictor on April 09, 2023, 08:41:33 AM

Quote from: mak013 on April 09, 2023, 04:35:05 AM

Without information from the gambler we can`t say that it was a lesson for him. If he has an opportunity to make several same bets same time - he has good chances to get more profit than this lose.
If he makes 3-5 such bets per day - he can get more money for a month. Of course he doesn`t like this situation but i don`t sure that it is critical for him.

As long as the guy is a human being, this is a lesson for him, I simply do not know why you believe he can't learn from it. We learn every day, and even if the guy is a billionaire, he would have the pinch of pain and regret in him that he could have used the money for a better thing or do not take such a stupid risk in expectation of peanut.

Gambling could come either way, yet if we have good managerial plans and always weigh our risks and outcomes to decide right, then we are wise.

In gambling you always can lose. It is possible that this gambler has a strategy with lots of big bets with small odds. But even in such strategy he has tp remember that it is possible to lose. In such situation it can be a lesson for us - what is money management. But the same time it is possible that it is all his money and he decided that he has find a way to get easy money. Thus, he received a lesson that he no longer needs.

slapper

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Quote from: Woodie on April 09, 2023, 04:48:45 PM

If all numbers were tallied to find which odds players lose most of their money, it has to be these safe looking odds like 1.01!
And tbh its careless if you ask me betting on such !!
But if you prefer such game types you need to always check what the prematch odds were like and who was the favourite, because if its the favourite and the team is winning most of the time the market gets closed for such but should it be open...proceed with caution.
1.4million dollars gone, ouch, should have bought a lambo and remained with some money in the bank Tongue

Damn. It's hilarious how the bets that appear to be the safest can actually be the riskiest. Folks. Every one of us has made the mistake of trying to play it safe only to end up losing everything. If so, why? When we know the chances are stacked against us, why do we feel the urge to take a chance anyway? Perhaps it's because it's in our nature to seek out exciting new experiences. We seek the thrill of gambling although knowing full well the risks involved. To what extent, though? Are we being careful when we bet on those supposedly "safe" odds, or are we just fooling ourselves?

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Quote from: Wiwo on April 09, 2023, 12:58:07 PM

The best thing from this story to me is the lesson we learn from this story since the gambler who lost such an amount went overboard, and took too much of a risk to have staked such a huge amount on a single bet selection.

So the lesson is what makes the whole story essential for our discussion since we don't even know the authenticity of the story since there is no verifiable link shared along with the story, it can be a staged story without any real individual involved.

But then we can't outwrite the many lessons from the various comments and replies this has made this discussion really exciting because 1.4 million on a bet is something unbelievable to many of us.

Regardless of whether this event happened or not many lessons can still be learned from it, but one of the most important has to be the importance of money management on everything that we do, even something as simple as making a bet requires the use of our money management skills, and if for some reason we refuse to use them then the consequences can be incredibly severe as a single mistake can be more than enough to lose so much money that recovering from it could take us years or even our entire lifetimes.

erep

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Quote from: klidex on April 09, 2023, 04:23:34 PM

Sometimes saying it's easier than doing it directly, like betting using money you can afford to lose, but if you can't control yourself, it will all change quickly from using money you can afford to lose to being greedy.
Because in every gambling gambler sometimes will experience successive defeats and at that moment a feeling of emotion will appear in your mind after that you will try to deposit several times to catch up with the defeat.
At that time you will find it difficult to control yourself and regret when you cannot control your emotions. As in the case of the man who lost 1.4 dollars because he could not control himself.

The factors you mentioned above will trigger gamblers to bet high to recover losses from consecutive losses, if forced to continue betting then you will lose self-control due to the emotional impact of the impact of losses, they will bet beyond the capacity limit for gambling funds, they even deposit funds another to bet again. So if we experience a losing streak, don't force a bet on the same day, sometimes on this day everything we do will experience higher losses.

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If all numbers were tallied to find which odds players lose most of their money, it has to be these safe looking odds like 1.01!
And tbh its careless if you ask me betting on such !!
But if you prefer such game types you need to always check what the prematch odds were like and who was the favourite, because if its the favourite and the team is winning most of the time the market gets closed for such but should it be open...proceed with caution.
1.4million dollars gone, ouch, should have bought a lambo and remained with some money in the bank Tongue

klidex

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Quote from: Rabata on April 09, 2023, 12:15:03 PM

Quote from: ethereumhunter on April 09, 2023, 10:37:08 AM

Quote from: EarnOnVictor on April 09, 2023, 08:41:33 AM

As long as the guy is a human being, this is a lesson for him, I simply do not know why you believe he can't learn from it. We learn every day, and even if the guy is a billionaire, he would have the pinch of pain and regret in him that he could have used the money for a better thing or do not take such a stupid risk in expectation of peanut.

Gambling could come either way, yet if we have good managerial plans and always weigh our risks and outcomes to decide right, then we are wise.

Two things can happen to that guy: he will feel pain and regret or he will feel nothing because he is still a billionaire who still has a lot of money. We also won't know what he feels, but we can still learn from him to always limit our gambling, especially using money to gamble.

Gambling can indeed provide big profits but also vice versa. We can experience big losses, especially if we can't limit the money to bet. And we must indeed weigh the risks wisely because whatever it is, we are only using gambling for fun.

I usually use gamble money that I afford to loss. Also try to limit my bankroll and not keep my gambling balance above a certain level. Because my gambling thought may change at any time. The gambler who keep big money undoubtedly have good betting knowledge. Those who can take such big bets are rich enough. They took risks and will take risks in the future. Such a big risk is not possible for any ordinary gambler. The strategies of those gamblers will not be similar for ordinary gamblers like us.

Sometimes saying it's easier than doing it directly, like betting using money you can afford to lose, but if you can't control yourself, it will all change quickly from using money you can afford to lose to being greedy.
Because in every gambling gambler sometimes will experience successive defeats and at that moment a feeling of emotion will appear in your mind after that you will try to deposit several times to catch up with the defeat.
At that time you will find it difficult to control yourself and regret when you cannot control your emotions. As in the case of the man who lost 1.4 dollars because he could not control himself.

Wiwo

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Quote from: ethereumhunter on April 09, 2023, 10:37:08 AM

Quote from: EarnOnVictor on April 09, 2023, 08:41:33 AM

As long as the guy is a human being, this is a lesson for him, I simply do not know why you believe he can't learn from it. We learn every day, and even if the guy is a billionaire, he would have the pinch of pain and regret in him that he could have used the money for a better thing or do not take such a stupid risk in expectation of peanut.

Gambling could come either way, yet if we have good managerial plans and always weigh our risks and outcomes to decide right, then we are wise.

Two things can happen to that guy: he will feel pain and regret or he will feel nothing because he is still a billionaire who still has a lot of money. We also won't know what he feels, but we can still learn from him to always limit our gambling, especially using money to gamble.

Gambling can indeed provide big profits but also vice versa. We can experience big losses, especially if we can't limit the money to bet. And we must indeed weigh the risks wisely because whatever it is, we are only using gambling for fun.

The best thing from this story to me is the lesson we learn from this story since the gambler who lost such an amount went overboard, and took too much of a risk to have staked such a huge amount on a single bet selection.

So the lesson is what makes the whole story essential for our discussion since we don't even know the authenticity of the story since there is no verifiable link shared along with the story, it can be a staged story without any real individual involved.

But then we can't outwrite the many lessons from the various comments and replies this has made this discussion really exciting because 1.4 million on a bet is something unbelievable to many of us.

Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 6. (Read 6572 times)