Biggest Sports Betting Losses In History And How To Avoid Them (Infographic)

Sports betting is indeed enjoyable for many people since it brings together the sensation of watching a sport and the thrill of risking a lot on an outcome that a sports bettor predicted.Many people might see sports betting as a form of enjoyment, but some rely on it to make a living.

Every sports bettor, whatever reason they may have for betting, will experience losses throughout their time in betting. Losing is arguably the norm in sports betting, and people must first strategize to minimize the risk of losing.

Many people have already lost a lot of money in sports betting, but some stand out due to how significant their losses were.

Biggest Sports Betting Losses In History And How To Avoid Them

Vegas Dave’s Million Dollar Loss

David Oancea or Vegas Dave is a prominent sports bettor who has already won a lot throughout his sports betting career. Still, he’s managed to experience at least one seemingly significant loss through betting. Vegas Dave managed to win $2.5 million in 2015 after he spread his $140,000 across 15 casinos on a long-shot bet on Kansas City Royals winning against the New York Mets in the World Series, but he suffered a significant loss a year later.

Vegas Dave placed a bet on female MMA champion Miesha “Cupcake” Tate winning against Amanda Nunes at the UFC 200. Nunes managed to take Tate’s bantamweight belt through a rear-naked choke in the first round. Dave lost a million dollars on one bet, but he remained calm on the loss and was more concerned about Miesha Tate’s condition.

Boastful Birdman’s Two Super Bowl Losses

The hip-hop star Birdman is a lifelong New England Patriots fan, and he’s willing to support the team even in sports betting. Birdman’s also known for his boasts in social media, including on betting $5 million for the Patriots during the Super Bowl XLVI.

One online betting site called Birdman’s bluff and invited him to put his money where his mouth is. Birdman got quiet after the challenge, but he still placed a smaller bet of $1 million, which his opponent 50 Cent matched with a million of his own.

The New York Giants won against the New England Patriots, and Birdman lost a million dollars as a result of his bet. Had he gone through with his boast, then he would have lost five times more the amount that he bet on.

Birdman didn’t learn his lesson and placed a hundred thousand on the line while boasting in social media in favor of the Patriots against the Philadelphia Eagles on the Super Bowl LII. He lost the hundred thousand afterward as the Eagles won.

Brit’s Winnings Lost in a Week

Not all sports bettors can bet six or seven figures, but they still have a chance of winning big even when betting two figures.Steve Richards is a roofing contractor who managed to turn his £10 into £38,970 after successfully predicting the results of all 12 rugby matches he placed a bet on.

Steve, however, wasn’t content and probably got confident after his 12-game win streak as he placed a bet on another rugby match a week later. There’s nothing wrong with placing another bet as long as the amount is reasonable, but Steve made a mistake of staking his £30,000 in favor of Wales defeating Australia.

Australia won, and Steve lost £30,000. Had he been lucky, he would have won £55,000.

How to Avoid Losing Big

Sports betting has its share of risks, but it doesn’t mean that people will always lose since there’s still a way to avoid losing a bet.One thing that the three bettors have in common is staking high, leading to significant losses.

Staking high may be possible for the wealthy, but the average sports bettor shouldn’t take the risk even after they won big in a previous bet. Sports Bettors should also research first and then strategize before betting to keep their chances of losing low.

To avoid Steve’s mistake, bettors should also know what to do after they win big in sports betting.

Register now at and get started on betting. Keep in mind the losses mentioned above to keep yourself from experiencing the same.

Don't forget to share our post!

Leave a comment