This man put $1M on 1.08 odds and lost it, people need to understand that in football, anything can happen. Nothing is too sure. Knowing that alone will help you gamble smartly while at it.
In every financial market, there is something called risk management. If you donโt understand this, youโll become poor in no time, no matter the amount youโre bringing into the market.
Big money, small odds, or big money on trades that canโt do at least 3X for you is the easiest way to get wrecked.
1.08 X $1,000,000 = $1,080,000. 80k profit.
Now, Imagine taking ten 1.08 bets, if you win all, profits. Thatโs $800k profits for ten wins.
If you lose your eleventh bet, you lose $1M, meaning that even 10 wins canโt cover for your losses.
But when you target 3X averagely, you know that one win alone can cover for some losses.
If you put any amount on a 3X bet (1:3 risk-to-reward), and you bet ten times, if you win the ten times, thatโs huge win.
If you lose 6 times and win only four times, youโll still be in profit.
Since we are talking about $1M per bet,
4 wins x $1M x ( 3) = $12M
6 losses ร (-1) = -$6M
Net result = 6M profit
Youโll still be in profit, even though you lost more bets than you won.
To end this, if you have to gamble, do it smartly, responsibly.
๐จBREAKING: Someone just put $1M on Spain to WIN their match vs Cape Verde today
This pays out is $1,085,943.48 on Polymarket