There are two sides to the coin when it comes to gambling: either you win or lose. Sports betting with Sbobet is a game of luck more than strategy as it is much about losing and winning. In that regard, we have discussed below the top 7 most famous sports betting losses in history.

Sports betting is full of emotions and the thrill of anticipation when you place a bet. It is a game of excitement when you win, but at the same time, it can turn into a disaster when you place a wrong bet. This article is all about the mistakes that have turned into the famous betting losses of all time.

Top 7 Famous Losses In Sports Betting History
You must be aware of the enormous profits earned in sports, but there are some stories of great losses that will make you think about it before involving in the betting world. Let’s see some of the stories you can learn to place a responsible bet on sports.

1) ‘Cupcake’ Loss of Vega Dave’s
David Oancea, also known as Vegas Dave, is a famous sports bettor and an Instagram influencer. He is known for bragging on Instagram about his massive bets and huge payouts on his risky wagers.

The story is all about his wagering on a famous women's MMA champion Miesha Tate popularly known as 'Cupcake' at the UFC 200. Tate was fighting against Amanda Nunes in a battle to retain her Bantamweight Belt. Nunes overpowered her by rear-naked chocked, and within 3 minutes 16 seconds, Tate lost the match.

This unfortunate decision of Dave cast $1 million from his pocket, which became one of the biggest losses in the history of sports betting. After this loss, Oancea posted that he was more concerned about his broken nose than he was about the money.

2) Bets On A Costly Hole - Michael Jordan
Michael Jorden is an iconic figure in the NBA and a successful American businessman. He is also known for his notorious betting style, forcing him to retire early from sports. But his betting antics, and at this point, he has some $1.2 million debt when he used to bet on golf. At that time, he used to wager hundreds of dollars on a single hole. Richard Esqinas, his wagering buddy, revealed that Michael Jorden lost $1.2 10-days of golf and wagering by the business mogul.

3) Loss Of Winning Reward By a British Man
The next story is about a British man Steven Richards who decided to use his winnings to case large wins. In 2013, he initially placed an accumulator wager of $13 at initial, won 12 rugby games, and earned a total amount of $52,800. A week later, Richard decided to try his luck once again with his earnings and place the bet of $30,000 on Wales against Australia. But Australia defeated Wales, and his winning amount barely touched his account, was gone again.

4) Jim McIngvale Doubles Down on the Houston Astros
Jim Mclngvale, Gallery Furniture owner and a sports gambler, has wagered on two sports betting websites for 4 million in Houston Astros to win the World series. McIngvale could win more than $40 million if his lock followed him. The first wager was at Caesars Sportsbook app for $3 million at 10-to-1 odds, and another was for $1 million in the WynnBET app at 12-to-1 odds.

Unfortunately, both the websites lowered the odds for the Astros, and Jim faced the most significant loss of his life.

5) Arizona Gamblers Lost About $51 Million
This seems the biggest loss in the history of sports betting, as gamblers from Arizona lost about $51 million in November. As a consequence, the new legal sportsbook policy banned all the sports betting sights in Arizona.

Due to this decision, nine mobile sports betting sites and two in-person sportsbooks operating downtown Phoenix took about $467 million in total wagers in the last month before winning. And about $1.2 billion bettors have been wagered after three months of legal betting. But then also, there was a loss of $51 million due to new policies in Arizona.

6) Daredevil Matthew Webb
This story can be heart-hitting as the gambler has lost his life while completing the challenge. This is the story of the British Daredevil and gambler Matthew Webb who was the first person to cross the English channel. He had performed many swimming challenges against the public and won them. He was so passionate about the work that he had once swum for 74 hours straight and won $423.

But his luck left him when he went to America in 1981 and had successful challenges. Due to lack of money, he decided to bet, saying he could swim across the whirlpool of Niagara Falls, and staked at $10,000. And on July 24, 1883, Webb entered the water but was never seen again. All bettors lost their money, but here the gambler lost his life because of a few bugs.

7) Birdman’s Double Whammy
Betting for $5 million on Pats in Super Bowl XLVI by Hip-Hop star Birdman was not a happy moment. This star was a great New England Patriots fan and decided to wager on the team. But unfortunately, New York Giants won the game 21-17 and made the rapper lesser affluent.

And the story doesn't end here. Super Bowl LII came around; he again came on Instagram boasting about a $100,000 bet with Philadelphia rapper AR-AB. But again Eagles were victorious, and Birdman lost the bet again.

Final Verdict
Losses are often seen in the betting industry, but some become drastic to recover the losses, and their stories are impressed in history. The stories mentioned above are of such sports betting losses that will be remembered in history. This article teaches you the mistakes made by some of the biggest bettors and presents you with the lesson. So, have some learning to not repeat the mistakes they have made while place betting.