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.
You are wrong with this disposition bro, first, no gambler would go for a very low odd if they are not certain about the betting, and even with the bookies to have offered that kind of low odd means that they knew it is almost certain that the bettor would win. Now, the gist is that even if the chance is high in any bet, perhaps, the bettor has a 99.5% chance of winning, we should never still undermine the disaster that the remaining 0.5% chance of losing could cause. That was what I believe played out in the unfortunate experience of the guy.
Another reason for you not to find an excuse for him is that no one can commit a whole $1.4m to a bet and not be certain of his betting, it's money we are talking about. Lastly, it's a misconception to say that odds cannot be lower than 1.01, have you tried all casinos/sportsbooks in the world?