Saw on KSR that when Chargers got ahead 27-0 a guy played a $1.4 Million dollar bet
to win $11,000+.
Needless to say he lost.
WOW.
to win $11,000+.
Needless to say he lost.
WOW.
$1.4 Millon Dollar bet
- Thread starter sefleming
- Start date
Sounds like maybe a call was made after that bet
Yet another unbelievable story from KSR. If anybody is that stupid, they SHOULD lose 1.4M
How can you acquire that much money and risk $1.4 million for such a small return?
In horse racing they call them bridge jumpers. Those type of bets actually do get made. They bet some crazy amount on a 1-5 favorite to show thinking they can’t lose. They usually don’t. But sometimes they do.
I can't wrap my mind around betting that kind of money for such a low return. Normally if you were making that bet, it would be safe, but this wasn't Georgia v Bethune-Cookman. It's the NFL playoffs and a 4 score game can get interesting quick...just like this one did.
I bet Miami in this game. Miami was the favorite. I believe the spread was 7.
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Reminds me of a bet I should have made, and didn't because of the odds. BC Classic in 2015, American Pharoah was 1-2, before the post, and I really really really wanted to unload on him, thought he was an immortal lock. But I didn't because was only 1-2, but when the gates opened, the odds were actually 7-10, and he won in a cake walk. I still could kick myself, would have won $140 on a $200 bet in 2 minutes, pretty good IRR.
In the NFL? Not a lot, but earlier this year the Vikings came back from a 35-3 3rd quarter deficit against the Colts.
It’s hard for me to take those odds on a win bet but it sure would have paid off for you there.
The Kentucky tracks pretty much did away with it this year unless the still have a minimum for a payout. They break to the penny now so if your $2 bet used to have to pay a minimum of $2.20 can now be paid to $2.01 if they need to go that low.
I heard about a couple of guys doing this for $100,000 a pop taking in a $5000 profit per trip on a mandatory ten cent return, but after about the 8th win the 1-5 horse stumbled out of the box and finished OTM - poof there goes 100 grand.
This is also similar to the so-called Massingale method in black jack. You start with a $1 bet and each consecutive time you lose you double the bet until you eventually win and get all you money back. Your profit comes from when you win consecutive hands. Doesn't work though because eventually you reach the end of your bankroll or reach the house betting limit.
Let me make sure I understand the math:
If you lose 7 times in a row (1 + 2 + 4 + 8 + 16 + 32 + 64 = $127), you are already down $127, and then have to bet $128 to break even? Am I doing that right?
So if you win your 8th bet, at $128, you have made a dollar, and you start over again with a $1 bet? Is that the way it is supposed to work?
Man, if you happen to lose 8 or 10 in a row, you better have nads of steel to keep doubling.
Yes that's the way it works, the probability of losing that many in a roll is extremely small but it DOES come up. It's a fools game. I misspelled it, it's the Martingale system:
Raising hand of stupidity here. I actually did this when I was in my mid 20’s. Didn’t live too awfully far from the casino so I thought I’d go about 3 times per week and do this, make $200 and leave. $600/week easy money. Only I started with a $25 bet, not $1. Had to win 8 times to get up $200. $25, $50, $100, $200, $400, $800, $1600 was the 7 hands in a row I had to lose. I didn’t play straight up BJ though, I never doubled or split, I never took a hit when the next card could bust me. Figured no way I could lose 7 in a row. First two trips went great and I just knew I had figured out a way to beat the system until my 3rd trip back that very first week. After getting up around $100 I watched the 7 hand losing streak commence and walked away losing my $3000 plus. To my credit, I never tried that again
Here is your joke of the day:Raising hand of stupidity here. I actually did this when I was in my mid 20’s. Didn’t live too awfully far from the casino so I thought I’d go about 3 times per week and do this, make $200 and leave. $600/week easy money. Only I started with a $25 bet, not $1. Had to win 8 times to get up $200. $25, $50, $100, $200, $400, $800, $1600 was the 7 hands in a row I had to lose. I didn’t play straight up BJ though, I never doubled or split, I never took a hit when the next card could bust me. Figured no way I could lose 7 in a row. First two trips went great and I just knew I had figured out a way to beat the system until my 3rd trip back that very first week. After getting up around $100 I watched the 7 hand losing streak commence and walked away losing my $3000 plus. To my credit, I never tried that again
Good judgment come from experience.
Do you know what experience comes from?
Bad judgment