Quote from: Fredomago on Today at 01:38:38 PM

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Quote from: drwoo on Today at 12:46:53 AM

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.

I agree with this. Despite being a gambler that has a huge money at his disposal, at the end of the day, if he lost a huge amount, it's still a loss and definitely it will still sting no matter how many money he has left. Although maybe if he has so much to the point that he doesn't care at all, it will be okay. However, collective losses will sum up to a huge loss too if you will compute it. Hence, it's much better to gamble responsibly and with caution to avoid losing especially if it involves a big amount.

Risking a huge amount just for the sake of betting without really assessing the situation will just result to possible losses. Miscalculation can also put you into a great risk. Gamblers must still place bets and play with strategy in mind, prepared for any outcome - better or worst.

I'm more into a good confidence with the gambler who bet that huge amount, thinking that it was an easy money to take after placing his bet with a 99% winning chance, more in a live betting in which the chances of losing is really far from reality, but look what happened, even how confident you are with the kind of betting that you take, something still can happen during the game, nothing can avoid bad luck and that's what this gambler experienced, a very bad luck that resulted him to lose that huge amount of money.

However, the probability of 99% I think is somehow confirmed. But if this is a game with a provable fairness algorithm or just a bet on some kind of game where unequal teams play, then no one can be sure that these 99% really take place. This is generally some kind of completely unproductive, empty conversation. Who can guarantee that this is not 95%, for example? And then already making such large bets, amounting to millions of dollars, is a very risky task. A person who does this clearly can afford to lose that kind of money, probably a millionaire with tens of millions of dollars in his property. But in any case, it's all kind of stupid.