We don't know his bankroll and maybe he doesn't even bother because he has billions, but if it was a substantial amount for that person, would it ever make sense to place a bet of that size at all? Saying that this person wanted to play it safe would only apply if that amount of $1.4 million is within his perfect bankroll management range. Otherwise, if someone is seeking the kick in putting up $1.4 million for the chance of winning $11,200, I would think that there is some loss of control at play because nobody would care winning $11,200 in exchange for risking over a million.
Observed so many people in this thread thinking that this gambler might not have cared much about this loss because he could have been a whale, but I completely disagree since it's still a lot of money for them too at the end of the day.
Rich people are usually more greedy when compared to poor people. Whether this gambler was a whale or not, this loss most probably affected him/her in a big way.
If he is a rich man, of course losing with this much money is certainly not a big problem for him, I also think he seems to have calculated his defeat even though he thinks it is impossible because he only wants to take advantage of low odds to be able to win quite a bit of money with capital big, but the fact is he lost and I think he has calculated his loss