Topic: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! - page 9. (Read 8226 times)

Who would like that odds? I mean 1.01? I will never bet on that kind of odds as there are still chances to lose that one and that's what happen here to this big whales who think that he can out smart or he is just so unlucky and lose it.

And it just shows how sports betting it, we don't know what will be the outcome even if the spread is that huge as any teams can make a huge comeback and that's what happen here, just a point is enough for the Jaguars to win.

In my opinion, with such low odds, you can lose your deposit not so slowly. I have never liked such odds, because you can lose everything and, most importantly, if you win, we get very little. I never bet like this and I don’t advise other players to bet with these odds; in my opinion, it’s absolutely pointless. I am sure that such players think that they are smarter than everyone else, and that he will bet 1 million all his life on small odds to win, but this will definitely come to an end. This player simply did not want to believe it and the situation that happened to him simply showed him that he is not the smartest here. It would be better if he put the money at a small percentage of return, and not engage in such nonsense, although we all know that banks also have a chance of default and there is no good place anywhere so that there is no minimum risk.

Crazy money for crazy people, but the story is not complete unless we know the story of the person who decided to place such a disparate wager. If it was part of a strategy of betting many times such an amount across several bets with some probabilistic chance, then he might have recover the loss with some short of earning in the rest of the process. Some people can afford such things.

When dealing up with gambling then of course being lucky would really be the most important factor for you to win up on gambling on which we know that no matter how low the odds is but doesnt mean that
it would really be giving out that kind of guaranteed win. No matter how small the odds on losing up the game and as long the chances isnt 0% then always bare in mind that losing could really happen.
This is why its never been that recommended that you would really be making yourself having those risks considerations on which we know that this is something that very crucial on the time that you would really be dealing up with gambling. You cant really just make yourself having that all in kind of betting even no matter how the low odds are but it doesnt mean that you would really be needing to have that kind of
all in bet. It cant really be just that something having those kind of exemptions on which it would really be that a normal approach.

True, the luck is the main factor, if someone's luck isn't good then he/she can lose a bet with so low odds while on the other hand if someone's luck if good then they could win bets with high odds. When it comes to strategy, high odds are always considered risky however, if someone's luck is not in their favor then low odds can also be risky. We have learnt a great lesson from that gambler, that luck is the main determiner of success in gambling without it there's loss only.

   It's already clear to everyone (especially gamblers) that there is not between gamblers and bets/odds.
   Everyone thoughts are not the same so if for instance a gambler thinks that to win a bet is based on the smallest odds that means the person should get ready to lose more.
   The funnest part is how little the odd is and still lost, however its all about luck not strategies or smartness.
   The gambler use play smart on this game but his smartness was unlucky for him.
   This is a perfect example to show all gamblers that things gamble is based on how smart you are or the odds you choose, that gamble is all about luck.

It's test of luck because some gamblers believe that low odds are always lucky for them and that's why they mostly place bets on low odds. Everyone thinks differently, if you think that no one would try their luck with low odds that's your mindset, however if someone thinks that they get lucky when the odds are low that's their mindset.

I agree with your that comment, the gambler did something which's no less than pure stupidity, but sometimes in test of ones luck such stupidities happen. He might have betted on a wrong sports game that's why he lost the bet even with that low odds. I have personally never lost a bet with low odds, but I placed those bets on cricket matches, however if I try placing same bets on other sports then I might lose bets.

Why would someone test his luck with such a low odd. This isnt serious. People do not usually test luck like that. For example who would choose to test his luck of correct prediction in a challenge between professional weightlifter and a little kid in weightlifting competition. That is absurd. Or you checked if the next card is ace, you turn it over and test your luck if you would guess it correctly. That guy who has lost $1.4M wasnt testing his luck. Imo he was testing his stupidity and won.

He is not stupid in other ways but he could be said to be quite stupid in his decision to risk a huge amount of money at very low odds because he thinks he will definitely make a profit, because when you try to start a business with huge capital but after calculating it you will only get a profit of less than 10% and keep running the business then it's quite stupid because the risk of loss is much greater than the profit gained unless you are someone who really likes risk but just putting it in one basket is another mistake because losing all the money will make him stop doing business or also gambling.

I mean he can't be an idiot completely since he's got a million to blow, right? Unless he inheirited or something and also happens to be a billionaire now as well - to your point that does seem like a small chunck of change to them. Its pretty wild how someone would take chances like that. He threw a 1.4 million dollar property basically up there on the trade block and got screwed to put it into perspective.

Having knowledge would really be always recommended and always have the advantage compared into those people who do make bets on random manner on which we know that
losing chance is higher compared into those people who have that knowledge towards the game or sports but we shouldnt really be that making ourselves that confident. Why?
We do know that there is really upsets that do really happening in field of sports on which you didnt thought that it could really happen considering that the game was
that one sided until it turns up side down.

1.01 odds doesnt give out that sure win thing. One of the most common mistake of people is that they do really believe that they could actually be
able to win up on sure manner and thats why they went all in.

I’m not a solid fan of football since this game is not popular in my country but I knew someone here that has a high accuracy on football match betting because he is good on stats analysis on each team. Sports is like chess which coaches can counter each other strategy that’s why there’s some instances that underdog team win but there’s always a difference on players individual skills which gives a huge impact on the game. This is the reason why stats matters when predicting for the most possible outcome on sports betting.


I preferred betting this way too. But the only problem is the time pressure that can affect your decision making. I made a lot of risky bet on live games just because I'm rushing to place a bet that later on the result went opposite because the other team rally before the match end.

Let me tell you the truth,  no one can predict a football match outcome based on the team's ability or previous statistics to make your judgement on how good the team will be and at winning,  this knowledge has changed a lot for me lately and that is why,  I don't bet along team line but just giving predictions based on the chance and that is why I mostly predict on live games,  that way you can based your decisions on current happening in and events in the match as it progress.

For the fact that football matches don't follow particular patterns,  it becomes easy to speculate based on the event at hand and we have to accept that fact and take less risk while gambling on sports.
Even with all the ideas,  you are not guarantee a win when if the luck is not on your side all the time,  because just a simple mistake from the players can spoil the whole process.

The only thing that is difficult is that it is very unpredictable, so you will be gambling a bit, especially if you have no idea about football teams.
Because it's also an advantage if you have an idea or know about football game teams, right?

So other gamblers who have an idea about football teams are the ones who have a high chance of winning when they bet on which team they think will actually win.

why it is not about luck? gambling always depend on luck. $1.4M Hughes is an amount that can last 2-3 families in my country for a lifetime. It is unbelievable how a person can place such a big bet there  It must have caused a huge financial loss to that person. no amount should be used in gambling which would seriously injure him  And since he made such a bet, he must take responsibility for it. His luck was so bad that he made a loss where he had 100% confidence to win with 1.01 Odd.

I dont think this is about luck in this case. This is not about being greedy either. This is pure stupidity. If he as greedy, he would have searched for something with better odds. Or tried to double those $1.4M. If it was about luck, he could have taken $11k and placed somewhere with 50/50 win chance. But no, that person has decided just to waste his $1.4M. With $1.4M there are plenty of ways to win $11k. That persons has chosen the most ridiculous way to use them.

I agree with all manners of ugly words you can credit this guy with, it is so absurd and annoying to say a few. I must say I missed this folly in this particular thread of the forum as it is good to always see it so that it will be a reminder to people that they could be so foolish in gambling if care is not taken. Imagine, for just 0.008 profits, you wasted $1.4 million dollars, that's ridiculous and shows that the guy is even reckless with that because he believes too much in himself, and overconfidence has never been a good characteristic in the long run. No matter how rich you are, if $1.4m is removed from your fortunes in such a foolish manner, that can never be comfortable at all especially when it is not where you need to spend it judiciously because you might want to channel such an amount of money to a better use other than what you were forced to lose it in due to your folly.

Gambling is not an investment, we should be careful of how we approach it and how we manage ourselves towards it. The money to be gambled must also be carefully thought about whether it is worth it or not, and even the risks we are about to take it with. And with my calculation, this guy was aiming to gain just $11,200 with a whopping sum of $1.4m risk. This is just too foolish to comprehend.

Anyone who's greedy enough would do that and I feel bad for him because his luck was totally down that day and when someone's luck isn't in their favor then such losses take place.

It's gambling and in gambling luck plays a very important role, if someone is lucky he can win 1.5 to 2 odd bets while the unlucky ones like the guy can lose bets with so low odds.

In order to earn just $11k he has lost $1.4M what a unlucky fellow. If he had invested that money into Bitcoin then he may had earned way more profit than $11k.

I can say only one thing - the person that made 1.008 bet is very stupid. Risking such a huge amount of money 11 thousands is stupid. No other words can precisely describe his action. This isnt being reckless, this isnt being greed or addicted. This is being stupid. What I mean is, you have more than a million, why risk so much just to win 11 thousands. 11 thousands is a lot of money, but those who operate with millions, must know less risky methods to earn 11 thousands.

“In your view”. But that amount of money is probably what he can afford to lose. Besides you will not deposit huge amount of money in a casino if that’s all you have even if you bet it on the most safe bet.

There’s a chance too that he already win a lot using this strategy before he finally loss on this specific bet since there’s no information about the stats of this player aside from this loss bet slip. But again, it’s not us to decide for that money if it should be use for gambling or not because that’s not our own money.