Boxing bettor wagered $1,000 to win $14.30 on Vasiliy Lomachenko fight
Sports gambling is not for everyone.
Bookmakers are very good at their jobs and know well how to lay odds that ensure the house consistently wins.
Betting against the house takes a lot of research and skill to do so with any modicum of success. It also requires an iron stomach and stable bankroll to handle the inevitable swings that come with sports gambling.
Bottom line. Aside from the occasional wager for fun, most people don’t have any business betting on sports.
This guy included.
Gambler takes outrageous risk for small reward
ESPN gambling writer David Payne Purdum reports that one gambler bet $1,000 last week on Vasiliy Lomachenko in his title fight Saturday against Jose Pedraza.
Lomachenko was an overwhelming favorite in the fight, with the Flamingo in Las Vegas laying -7,000 odds to win, according to the report.
For those not familiar with sports wagering, that means a $7,000 bet will pay off a $100 win if successful. If not, the bettor loses all $7,000.
Lomachenko paid off
Fortunately for this bettor, Lomachenko won by unanimous decision. His reward for betting on a boxer nobody expected to lose?
$14.30.
In a sport where one punch can overcome even the longest of odds, the reward doesn’t come close to justifying the risk in this scenario. Making matters worse, still terrible but much better odds were available. Forbes reported Lomanchenko was available for -4,300 the day of the fight.
Our hero here should probably stick to the roulette wheel the next time the urge gamble strikes.
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