Re: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds!

Quote from: Odusko on Today at 09:28:11 AM

1 million dollar is a lot of money to some people but to other it has a small fraction which can easily be bet away or spent in a night out, but the we should also consider other factors that may have lead to this incident, first we should consider the gambler previous gambling history and how much he have won or lost in the past.

Quote from: piebeyb on Today at 08:00:53 AM

Quote from: traderethereum on Today at 04:45:31 AM

Quote from: paxmao on February 07, 2023, 11:17:21 PM

Money is relative to the wealth of the individual. For most, 1M USD is a lifetime of money, if not several lifetimes in some places. However, for the whales and the big players, 1M USD is just a change. It is difficult to understand for people who will struggle all their lives to make a living for their families, but there are people out there that will lose that amount and will not even blink.

You're right, mate. Only rich people can afford to spend enormous amounts of money, even for a single use of their money, for example, shopping.
But for those who don't have much money, having 1M USD is still a dream and we will feel frustrated if we spend it only on gambling.
That kind of money can provide for our living needs for many years for people who live in countries where the cost of living is not high.
We can only learn from what others have obtained so that we can take what is good to apply to us and leave what is not good.

in my country 1 million dollars can be enough to support me and my family for up to 10 years or more if you build a business at the same time, lol
but that's how rich people play when they want to get a little profit they dare to spend big capital and they don't think they will lose big money too in their bets

Even though the money is enough to set many people out of financial struggle for many years, there are still other risk factors that we must consider, such as risk of unplanned incidents that can eat up that money, and what is the possibility of one not losing such an amount into a bad business.

So ultimately we should learn just one lesson from this which is, setting limits to all that we do as it involves money it doesn't matter the level of risk, let's make it a principle.

A gambling addict never realizes how risky it is and how much money a single bet is good for. Then they think that betting a big account will give a big amount of return and they will become rich in a very short time. But when he loses that big amount he can feel how big a mistake he made. And thus many lose everything and end up in huge debt or commit suicide.