Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 7.

Rabata

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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.

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.

ethereumhunter

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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.

EarnOnVictor

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

Quote from: Wiwo on April 07, 2023, 08:05:18 PM

Quote from: Shamm on April 07, 2023, 07:59:00 PM

That's why this thread keeping more replies because all gamblers can have a lesson after reading this and we a all know that every on of us are in different country and have a different value for our money like in my country which is 1.4 million dollars is huge money because 1 dollar is around

Exactly, a lot of lessons have been learned from this incident and what makes it more touching is the fact that the amount lost is quite a significant amount that many think is enough money to change someone's life, this thread has been one of the threads that thought me how not to bet on sure odds since there are no odds that is 100% sure.

And also I have learned to minimize staking amount per time, this is because, if the gamblers have a hard proper limit application, he or they won't have gone ahead to stake such an amount and that could have reduced the total amount I lose, from the replies of many members I have learned from the diverse experience of other in the forum and what they're thinking about the risk taken by the ops in question.

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.

Fredomago

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

Quote from: virasog on April 08, 2023, 07:20:52 PM

Quote from: tusandii on April 08, 2023, 12:41:20 AM

Quote from: Wiwo on April 07, 2023, 07:53:28 PM

-snip-

If gamblers do not take into account the risk associated with each game, I am afraid that they will never be able to make money in gambling. The gambling houses know exactly that and they make full use of this situation when a gambler invests more in any bet. Even a bet with odds of 1.01 favors the gambling house because even if the gambler wins this easy bet, he or she will get the minimum amount of profit.

In fact, this is what happens to most gamblers. Not all gamblers can even make money from gambling because the percentage of losses in gambling is greater when compared to wins.
Gamblers can limit the number of losses and not get big losses, we can consider them winners because the biggest advantage in gambling is being able to minimize the amount of money lost.
If someone can win and get a certain amount of money but can't set a limit to play, then they will return to defeat and the losses will be even greater.
So far no one can beat friend's house, even if someone says they can beat house, I think it's just a fairy tale.

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.

mak013

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Quote from: Wiwo on April 07, 2023, 08:05:18 PM

Quote from: Shamm on April 07, 2023, 07:59:00 PM

That's why this thread keeping more replies because all gamblers can have a lesson after reading this and we a all know that every on of us are in different country and have a different value for our money like in my country which is 1.4 million dollars is huge money because 1 dollar is around

Exactly, a lot of lessons have been learned from this incident and what makes it more touching is the fact that the amount lost is quite a significant amount that many think is enough money to change someone's life, this thread has been one of the threads that thought me how not to bet on sure odds since there are no odds that is 100% sure.

And also I have learned to minimize staking amount per time, this is because, if the gamblers have a hard proper limit application, he or they won't have gone ahead to stake such an amount and that could have reduced the total amount I lose, from the replies of many members I have learned from the diverse experience of other in the forum and what they're thinking about the risk taken by the ops in question.

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.

tusandii

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Quote from: virasog on April 08, 2023, 07:20:52 PM

Quote from: tusandii on April 08, 2023, 12:41:20 AM

Quote from: Wiwo on April 07, 2023, 07:53:28 PM

-snip-

If gamblers do not take into account the risk associated with each game, I am afraid that they will never be able to make money in gambling. The gambling houses know exactly that and they make full use of this situation when a gambler invests more in any bet. Even a bet with odds of 1.01 favors the gambling house because even if the gambler wins this easy bet, he or she will get the minimum amount of profit.

In fact, this is what happens to most gamblers. Not all gamblers can even make money from gambling because the percentage of losses in gambling is greater when compared to wins.
Gamblers can limit the number of losses and not get big losses, we can consider them winners because the biggest advantage in gambling is being able to minimize the amount of money lost.
If someone can win and get a certain amount of money but can't set a limit to play, then they will return to defeat and the losses will be even greater.
So far no one can beat friend's house, even if someone says they can beat house, I think it's just a fairy tale.

Wiwo

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Quote from: virasog on April 08, 2023, 07:20:52 PM

If gamblers do not take into account the risk associated with each game, I am afraid that they will never be able to make money in gambling. The gambling houses know exactly that and they make full use of this situation when a gambler invests more in any bet. Even a bet with odds of 1.01 favours the gambling house because even if the gambler wins this easy bet, he or she will get the minimum amount of profit.

House edge is always set to favour the house and that is the true reflection of things, but the misconception in your reply is where mentioned that even though the gambler has won the bet he will not profit much, that is true anyways since the odd is small and the income will be almost unnoticed because .01 won't generate any meaningful percentages in profits but at least if the gambler won he will have return pf invested amount which is the staking amount including the winning even though it will not be much but at least the player won't be at lost.

But if the gambler lost the bet, he will lose everything to the house, which is why the house will try all means to see the gambler losing the bet, this system is how casino house generates their revenue, and this is why w always say gambling is luck based and not about sure odds because the odds can change at whatever point just to favour the house against the players but with luck, it will at the end favours the gambler.

virasog

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Quote from: tusandii on April 08, 2023, 12:41:20 AM

Quote from: Wiwo on April 07, 2023, 07:53:28 PM

Before one set out to gamble, truly there is a need to settle the risk aspect of it and even though we gamble with the hope of making winning, we must also expect losses all g the line, because that is the nature of gambling you win some, you Lose some that is the way it goes.

Unfortunately, not all gamblers think about this, friends, because they start gambling with hope and think that gambling can make large amounts of money easily and quickly, but they don't think about the risk of losing and losing money with a larger percentage than winning.
People with this kind of thinking will usually only get defeat after defeat because they cannot accept the losses that they get so they want to chase victory.
But thank you, friend, because with your delivery this has indirectly given understanding to those who gamble just to take advantage.

If gamblers do not take into account the risk associated with each game, I am afraid that they will never be able to make money in gambling. The gambling houses know exactly that and they make full use of this situation when a gambler invests more in any bet. Even a bet with odds of 1.01 favors the gambling house because even if the gambler wins this easy bet, he or she will get the minimum amount of profit.

sashapan

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Quote from: Unsoldier on April 07, 2023, 03:48:36 PM

Quote from: sashapan on April 07, 2023, 07:58:31 AM

Quote from: sashapan on April 07, 2023, 07:02:13 AM

A big casino bet is better to take away than to give you the same amount... And low X's are turnover and everyone has already protected themselves with scripts Undecided

But sometimes miracles happen) here's my friend's bet, the old truth

Congratulations to your friend, he is very lucky! A profit of 33 ETH - must have been a long time ago indeed)

Still, this screenshot says little. Maybe it's a betting simulator and your friend didn't play for money. What is the name of this casino? Is it still working?

Yes it is the most popular casino stake ) and of course it still works, and my friend's bid is also a real one but it's a long time ago) now I'm watching the last bets of the players Undecided

tusandii

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Quote from: Wiwo on April 07, 2023, 07:53:28 PM

Before one set out to gamble, truly there is a need to settle the risk aspect of it and even though we gamble with the hope of making winning, we must also expect losses all g the line, because that is the nature of gambling you win some, you Lose some that is the way it goes.

Unfortunately, not all gamblers think about this, friends, because they start gambling with hope and think that gambling can make large amounts of money easily and quickly, but they don't think about the risk of losing and losing money with a larger percentage than winning.
People with this kind of thinking will usually only get defeat after defeat because they cannot accept the losses that they get so they want to chase victory.
But thank you, friend, because with your delivery this has indirectly given understanding to those who gamble just to take advantage.

Wiwo

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Quote from: Shamm on April 07, 2023, 07:59:00 PM

That's why this thread keeping more replies because all gamblers can have a lesson after reading this and we a all know that every on of us are in different country and have a different value for our money like in my country which is 1.4 million dollars is huge money because 1 dollar is around

Exactly, a lot of lessons have been learned from this incident and what makes it more touching is the fact that the amount lost is quite a significant amount that many think is enough money to change someone's life, this thread has been one of the threads that thought me how not to bet on sure odds since there are no odds that is 100% sure.

And also I have learned to minimize staking amount per time, this is because, if the gamblers have a hard proper limit application, he or they won't have gone ahead to stake such an amount and that could have reduced the total amount I lose, from the replies of many members I have learned from the diverse experience of other in the forum and what they're thinking about the risk taken by the ops in question.

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Quote from: Wiwo on April 07, 2023, 07:53:28 PM

Quote from: Wakate on April 07, 2023, 07:37:53 PM

Making loses as a gambler is something we can not avoid that is why we need to work on our game so that as we are making few loses we are gaining big from the strategy we are using. Gambling is an activity and those would understand how it works do not bother themselves much about making loses. Win may be certain at some extent and we should always works or maximizing our profits and minimizing the loses so that we can make a very good profits from the casino we are using as a gambler.

I am amazed to see that this thread has already reached 40 pages and still counting, indeed this should be one of the biggest loses in the history of single bet odd for a long time because 1.4 million dollars is quite huge and with so many things happening around the gambling market where players are. Always warn to avoid taking too much risk on a bet even though we can avoid losses but we can at less minimize its impact on our financial well-being.

Before one set out to gamble, truly there is a need to settle the risk aspect of it and even though we gamble with the hope of making winning, we must also expect losses all g the line, because that is the nature of gambling you win some, you Lose some that is the way it goes.

That's why this thread keeping more replies because all gamblers can have a lesson after reading this and we a all know that every on of us are in different country and have a different value of our money like in my country which 1.4 million dollars is a huge money because 1 dollar is around 54.45 PHP and if we convert 1.4millionx54.45= 76447700.00 PHP and every time read this thread it was a big money to loss and it can sustain our daily lives and buy what we want to buy.

Wiwo

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Quote from: Wakate on April 07, 2023, 07:37:53 PM

Making loses as a gambler is something we can not avoid that is why we need to work on our game so that as we are making few loses we are gaining big from the strategy we are using. Gambling is an activity and those would understand how it works do not bother themselves much about making loses. Win may be certain at some extent and we should always works or maximizing our profits and minimizing the loses so that we can make a very good profits from the casino we are using as a gambler.

I am amazed to see that this thread has already reached 40 pages and still counting, indeed this should be one of the biggest loses in the history of single bet odd for a long time because 1.4 million dollars is quite huge and with so many things happening around the gambling market where players are. Always warn to avoid taking too much risk on a bet even though we can avoid losses but we can at less minimize its impact on our financial well-being.

Before one set out to gamble, truly there is a need to settle the risk aspect of it and even though we gamble with the hope of making winning, we must also expect losses all g the line, because that is the nature of gambling you win some, you Lose some that is the way it goes.

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Quote from: Dunamisx on April 06, 2023, 05:48:40 PM

Quote from: Desmong on April 03, 2023, 05:31:06 AM

As a gambler we need to learn from others so that we are not going to be a victim of such a big loses. To make money as a gambler is not that easy that is why we must be ready and try many techniques that will work for us as a consistent gamblers. If we try a technique and it does not works for us, then we need to try another one that will work and give us the kind of profits we are looking for.

Irrespective of the kind of techniques we adopted, we cannot avoid going on losses because it's all about taking risk to either win or not, his lesson will go far way in teaching others not to be too forward and also to always considers the tendencies for the risk of loosing the game when gambling because nothing is too sure until one wins, just that he had learnt his own lesson in the hard way makes him share with you all to learn from his experience, some couldn't have.

Making loses as a gambler is something we can not avoid that is why we need to work on our game so that as we are making few loses we are gaining big from the strategy we are using. Gambling is an activity and those would understand how it works do not bother themselves much about making loses. Win may be certain at some extent and we should always works or maximizing our profits and minimizing the loses so that we can make a very good profits from the casino we are using as a gambler.

Unsoldier

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Quote from: sashapan on April 07, 2023, 07:58:31 AM

Quote from: sashapan on April 07, 2023, 07:02:13 AM

A big casino bet is better to take away than to give you the same amount... And low X's are turnover and everyone has already protected themselves with scripts Undecided

But sometimes miracles happen) here's my friend's bet, the old truth

Congratulations to your friend, he is very lucky! A profit of 33 ETH - must have been a long time ago indeed)

Still, this screenshot says little. Maybe it's a betting simulator and your friend didn't play for money. What is the name of this casino? Is it still working?

sashapan

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Quote from: sashapan on April 07, 2023, 07:02:13 AM

A big casino bet is better to take away than to give you the same amount... And low X's are turnover and everyone has already protected themselves with scripts Undecided

But sometimes miracles happen) here's my friend's bet, the old truth

sashapan

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10th Anniversary of Bitcointalk.org Nov 22 18:04

A big casino bet is better to take away than to give you the same amount... And low X's are turnover and everyone has already protected themselves with scripts Undecided

Fredomago

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Quote from: delfastTions on April 04, 2023, 02:59:49 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.

Here, what you say about earning "easy" money - this should always be checked. Usually this is how, promising to get quite a lot of money, without putting any effort or work adequate to the amount, scammers deceive naive citizens. And among ordinary people there are a huge number of naive fools who believe scammers. And they lose their hard-earned money. However, it is not always easy to check the intentions of someone who promises a big win. Sometimes people affected by such a loss of money claim that they voluntarily made a bet or simply trusted someone with their money under the influence of some kind of hypnotic state. And at such a moment, they were not even fully aware of the logic that they were doing wrong or even making a gross mistake. All these are mysteries of the human psyche.
Because then they all know what a stupid thing they did.
But it's' too late. Angry

Though the sentiment of my reply is regarding to how Op's story, but yeah, your opinion is right there are also times that people forget about the importance of doing their own research and sometimes they just entrust their money with other people and that's also possible with gambling, thinking that the tip is all good they just blindly place their bets without researching and confirming the chances of winning.

They will just realize the mistakes once the money is already gone, as the bet has been burned and lose.

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Quote from: Dunamisx on April 06, 2023, 05:48:40 PM

Quote from: Desmong on April 03, 2023, 05:31:06 AM

As a gambler we need to learn from others so that we are not going to be a victim of such a big loses. To make money as a gambler is not that easy that is why we must be ready and try many techniques that will work for us as a consistent gamblers. If we try a technique and it does not works for us, then we need to try another one that will work and give us the kind of profits we are looking for.

Irrespective of the kind of techniques we adopted, we cannot avoid going on losses because it's all about taking risk to either win or not, his lesson will go far way in teaching others not to be too forward and also to always considers the tendencies for the risk of loosing the game when gambling because nothing is too sure until one wins, just that he had learnt his own lesson in the hard way makes him share with you all to learn from his experience, some couldn't have.

The key about gambling is having fun, not making money as a gambler. You can try different techniques if this makes you happy, but is not the correct approach if you do it in order to find a system to get sustainable profits that works.

We don't know whether the gambler in the OP lost those 1.4 millions for the shake of fun or as a financial strategy. In the first case, if he was already rich, had his life figured out, and was looking for some kind of excitement, it is ok; but if it was a "double or nothing" bet, it wasn't a good strategy (there is no limit for that: Martingale doesn't work.

Quote from: Wikipedia

In most casino games, the expected value of any individual bet is negative, so the sum of many negative numbers will also always be negative.

The martingale strategy fails even with unbounded stopping time, as long as there is a limit on earnings or on the bets (which is also true in practice).[1] It is only with unbounded wealth, bets and time that it could be argued that the martingale becomes a winning strategy.

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Quote from: Ojima-ojo on April 06, 2023, 05:54:42 PM

Quote from: Dunamisx on April 06, 2023, 05:48:40 PM

Quote from: Desmong on April 03, 2023, 05:31:06 AM

As a gambler we need to learn from others so that we are not going to be a victim of such a big losses. To make money as a gambler is not that easy that is why we must be ready and try many techniques that will work for us as a consistent gambler. If we try a technique and it does not work for us, then we need to try another one that will work and give us the kind of profits we are looking for.

Irrespective of the kind of techniques we adopted, we cannot avoid going on losses because it's all about taking the risk to either win or not, his lesson will go far way in teaching others not to be too forward and also to always considers the tendencies for the risk of losing the game when gambling because nothing is too sure until one wins, just that he had learnt his own lesson in a hard way makes him share with you all to learn from his experience, some couldn't have.

Losing is part of the game and gambling will not be fun if there is no record of losses, but constantly losing is what we should try to avoid, but ultimately we must lose, and since gambling is a game of luck and risk, everyone is already aware of that and we are all taking whatever the outcome of our bet an in good faith.

Ops that lost 1.4 million dollars was just taking his normal luck trial but this time the odds did not go in his favour, but next time he may win big which will help him recover everything he lost this time.

It would really be no fun at all if you are really that playing gambling without having that particular risks in line on losing up your bet which it is true but we know that most gamblers would definitely be going after

on how to make money on it and making that assure that they are really that on the right choice.Common behavior of gamblers is that whenever they do see a one sided match then they would really be
going or having that all in type of betting which they do believe that they could make out sure money into it.Of course when it comes to thrill and excitement then its there and
we know that we arent that dumb not to know on what are those outcomes neither win or lose.

Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 7. (Read 6572 times)