It`s money management. If you want not only to play for process, for emotions but win - you must have strategy and follow it. Here we just see one big lose but we don`t see the full result. May be he made more than 1000 success bets with such odds and it means that his strategy is ok. I`ve seen how guys tried to catch odd 100 and i saw how they won.
As for me - i prefer make the same bet for all matches i analyzed and it depends on my "bank" - the sum i use for gambling. There are some other details, but it is just an example of strategy.
Making more than 1000 successful bets doesn't sound plausible even with such small odds. At least for me, a strategy with such low odds was almost always ineffective, as losses occurred much more often than expected. For example, 2 losses per 100 bets with such odds were not uncommon in my case.
Risking a wooping sum of 1.4 million dollars on a bet is quite crazy and somewhat unbelievable, but since we know from experience how crazy some gambler's can be with amount they stake on bet make us to believe this story and for that we need to clarify what our stance will be if we are find ourselves in such a position at to take the next bet, for me I won't risk any amount that higher than $500 on a single bet regardless what the odds may be, I know in this situation, the gambler was tempted to splash such a huge amount of money on the bet because of the promising odds, but not knowing that odds are not a guarantee when it comes to Gambling.
Between I hope the gambler won all the entire 1.4 million from his previous bets because that is the only way he can have some level of relief from this big lose.