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Statistically speaking, I believe you're right that he spent a huge amount before he hit that kind of multiplier on mines since Stake doesn't mention how many tries he made for hitting that multiplier.

Playing mines many times is so tiring and frustrating at the same time, since you need to repeat from the start whenever you bust, while the profit potential that you sacrifice when you decide not to cash out is regrettable to think about when you bust.

I admire players that has long patience in playing this game.