Quote from: Mr.right85 on August 02, 2024, 10:05:23 PM

Quote from: khaled0111 on August 02, 2024, 08:48:49 PM

The 1.01 strategy is very common where gamblers try to make small wins with the lowest risk possible. In order to make a significant profit, you need to place many bets. This case proves that this strategy doesn't work.

Lowest risk possible really do apply in two ways which could either be,

Against the odds your wagering with or
The wager in itself.

Now, 1.01 odd is what you might consider a safe bet, a sure odd to produce good result and as such, the gambler choose to neglect the risk in the wager amount in $1.414m as the odds was already promising.
$14k is a good win when you wager within the range $100-$1000 and about that point.

What the gambler failed to put into comparison here is the risk to reward ratio. The gambler just don’t do the maths else, it was a reckless attempt given that, anything do happen in a game, not minding the odds.

The problem with those gambler's that bet on that line is that, there must stake Hugh amount of money, because it is only with huge amount in stake that they could accumulate some level of profits if the bet turn out in they favour, because 1.01 odds is basically no profits and the merging of winning with such odds may seems high but the reality is that, every form of gambling is subject to risks which means anything can happen with the outcome, since it 100% unpredictable.
Gambling is one of those things that we shouldn't allow our greed to play Amy role in our decision, and we should accept the fact that gambling outcome are subject to luck, which means that, regardless of your level of expertise, you will still rely on your luck to be able to win anything at all, which is something that happen in this situation where the gambler lost huge amount from a bet that look very promising.