If i will bet $1.000.000 even with such odds, i will analyze everything i can, even if someone ate an ice-cream a day before. For someone it can be just a standard bet, someone can make 10-20 such bets per day. Without additional information we can`t count the result.
There is no way for us to know if this gambler has done his own research before placing that bet but what's for sure is that the odds can't be lower than 1.01.
Also, we should not forget that the odds providers do their own research too and they are definitely more resourceful than any regular gambler. So, it's unlikely that he will find an information that the odds provider doesn't already know about.
Well, one sure thing with gambling, or betting rather; is that, even a thorough research or analysis before placing that bet does not guarantee that you will win, it only maybe increases your chances by tiny bits, which means that, you are more sure of what you are doing, much better than the person who is just guess-betting.
So, even if the gambler in question did a research before placing this bet, there was no guarantee of winning, which is what several gamblers sometimes fail to understand.
If every gambler will understand that there are no guarantees in gambling/betting, maybe we all will learn to bet or risk only the amount of money we can afford to lose, and nothing more.