The lost bets games cover casino and sports betting, lottery, and popular card and table games. You can read about the wagers people make with friends and family in our article. Since prizes push people to place a wager, you can also find out what the winners get in the end. On the other side of the balance, the scale is the punishments for the losers. Here is a spoiler alert – some of the losses bring funny and sometimes even permanent marks.
What Is a Losing Bet & How to Avoid It
The shortest definition of a losing bet is a wager that did not produce a winning result. This is the most exact definition of a vast ocean of wagering opportunities that have existed for thousands of years. Going back in time through the gambling history of the Ancient Civilisations, we will see only the names of the winners. That may not seem fair, but it is one of the gambling dangers heard in the lost bet stories.
What Can You Bet On?
“If you can think of it, you can bet on it.” Joseph Del Duca
The wonderful thing about wagers is that anyone can make them, and if things go bad, suffer for the lost bets. Despite the apparent full freedom, we need to separate the bets into two categories – gambling wagers and friendly bets. The difference may not seem like a big deal, but it is essential to determine the sizes of the losses, wins, and public influence. Here are some games you can lose at:
|✨ Casino & Gambling Games||🎱 Other Games|
|🕸️ Roulette||🎮 Daily Fantasies|
|😎 Poker||👪 Friend & Family Bets|
|🃏 Blackjack||🌍 Global Impact Subject Bets|
|🎰 Slots||⚗️ Science Competitions|
|🎲 Dice||🍗 Food & Drinks Wagers|
|✔️ Lotteries||♛ Intellectual Games Bets|
|🏅 Sports Betting||🛴 Other Wagers|
The gambling wagers are placed over casino games, sports betting, global impact themes, major events, celebrities, and more. The bets are always in some form of currency and are placed at land-based bookies, casinos, other gambling locations, and at some of the top online gambling sites. The size of the losses varies depending on the wagers’ size, and there are only a few winners and many losers.
The friendly and family bets are the most common lost bet stories. In this case there are few participants, and the loses are limited to one or few players. In this case, the prize can be anything and everything, including the trivial prize in money. You may not know this, but the family and friendly wagers are one of the most popular forms of entertainments.
People make all kinds of bets like who will be the next James Bond, who will win the cheese rolling in Glouchester or the wife carrying competition. Other incredible examples of perpetual betting topics are who will be the next Dr Who or even who build the pyramids and the Sphynx. Yes, there are many wagers, and most of them are placed for fun.
Reasons People Lose Wagers
The lost bets games have no count. The main reason people lose is that they do not calculate the risks correctly. The most frequent example is when your favourite team has odds 10 (opponent) to 3 (your team). You place your wager on the 3 because that is your team, and you support them even though the odds are against them, and they will lose.
Another excellent example of a guaranteed worst lost bet is when the player gets lost in the game. This happens when a player or a bettor gets obsessed with the game and the small wins that they lose grip with reality. This is borderline addiction, and if you have experienced this even once, you better seek professional help because you might be developing a gambling addiction.
Making irrational bets for big prizes is another certain way to lose big. A perfect example is to bet your car on Pokemon betting with your friends or siblings. You have to agree that losing your brand new car, motorcycle, and especially your house over small wagers is quite silly.
Biggest Losses of Pro Gamblers and Rich People
The many lost bets videos show us how pro-gamblers face their losses. It is hard to understand how full-time players manage to control their nerves when they lose thousands, and sometimes even millions in a minute. That is probably the hardest thing to learn, and that is why there are only a few professional gamblers who can lose and still share a few gambling jokes and puns.
For this article, we research the largest losses in casinos. Surprisingly, only a few of them were made by pro-gamblers. Most cases involve godlessly rich people who like to spend their times at the casinos and spend money for fun. The fastest loss happened at a single high-bet blackjack game and a couple of dice rolls. That is how fast the profits and wins, piled up for months and years, vanish in a blink.
|$1.5 billion||Harry Kakavas||Baccarat||2005||Australia|
|$1 billion||Maureen O’Connor||Casino Games||1985-2013||USA|
|$250 million||Terry Watanabe||Blackjack||2007||USA|
|$40 million||Archie Karas||Casino Games||1992-1995||USA|
|$20 million||Kerry Packer||Blackjack||2000||UK|
|$19 million||Singaporean Businessman||Baccarat||2013||Singapore|
|$14 million||Charles Burkley||Casino Games||1990s, 2000s||USA|
|$8 million||Frank Sarakakis||Roulette||1994||UK|
Losing $1 million in few dice rolls or $9 million in one night seems incredible, but it is part of life in the greatest casinos. Such numbers are rare to see at the UK’s best new betting sites, but sports wagers can get pretty high too. This happens when the team has been leading during the entire season, and the fans make big wagers on a certain win. Like in the rest of the gambling games, even this may fire back and cause tremendous losses.
Crazy Bets with Friends, Siblings, Family
The lost bets games go beyond count when we talk about wagers with friends and family members. Do you remember when your best friend betted that you couldn’t climb that tree in the garden? How about when you betted your sibling they can’t speak with their crush? Those are just some examples of the bizarre topics in betting we dedicated this section of the article to.
Food & Drinks Wagers
The most popular lost bets occur over drinking and eating competitions. People like to dare each other and attach cash or material prizes to the food challenge. Other people use this opportunity to wager on a winner and make a profit. Some of the most common competitions are eating the largest amount of food or eating faster than anyone else. An interesting spin is the bets on who will eat crazy or dangerous food.
The healthy side of food contests are the DietBet and HealthyWage where you win by losing the biggest amount of weight. An alternative competition is for the people suffering from anorexia and bulimia, where the challenge is to gain pounds, win the bet, and get prizes.
An alternative version of the food contests is fitting most food in their mouth. This is usually done with small foods like candy, bonbons, gummy bears, meatballs or objects like straws, ping-pong balls, and so on. A dangerous derivative of betting on eating products is when the bet involves a large amount of alcohol consumption, eating a spoon of cinnamon, hot peppers, spoiled food, and other dangerous items. In those cases, the winner still loses because they get sick or may even die.
Family & Hubby-Wife Bets
Some of the most viewed lost bets videos tell of lost bet storieс between husband and wife, siblings, or best friends. We all have seen guys waking up with perfect make-up or painted nails because they wagered with their girlfriends that they couldn’t put make-up on the sleeping guy without waking him up.
It is interesting how some people toss a coin to make a life-changing decision like getting married. Leaving important decisions and big wins to a game of chance is a typical example of win big or lose big. Many people don’t realise, but the loss in a bet can come even from a game like Rock, Paper, Scissors, Lizard, Spock. Those informal gambling types allow players to make bets on the outcome, the result of the bet, other players, and redo the wagering all over again.
Science bets take essential part of the craziest bets in history. Technically, this is a category that we created for this article. This is the section where you can find the most popular wagers on science, medicine, space bets, and more. You can still place your wagers for betting subjects like:
- Apply the balancing laws by balancing coins on their side, ruler and hammer, building rock towers, forks, billiard balls, and more.
- Who will get to Mars first?
- Is there intelligent life in space?
- When will the world end?
- Betting against deceases like cancer and diabetes
- Who will be the next pope?
- How will a TV show end?
As you can see, this category includes bets over events with global impact or anything related to famous people. Usually, the wagers here are pretty low, and a wager’s losses have no major or direct impact on the losers. On the other hand, it is not quite clear if the winners or the losers will be happier when the results for wagers like “Are their aliens on Earth?” come up.
Dangerous Bets People Make
Some of the lost bets cost the players more than money, car, house, or any other material prize. Many people who consider themselves daredevils take betting to the next level and risk their lives. The most popular dangerous bet is to sleep in a haunted house or visits the cemetery at night. Those teenager challenges may end up with fright or serious injuries, and then no one pays attention to the prize won.
Other life-threatening wagers are placed on people causing harm to themselves or on other people or animals. It is strange, but those situations have occurred and never had a happy end. We recommend that you avoid any kind of Russian roulette, taser, burning, drowning, or any kind of wager that may endanger your life and safety or the lives and safety of other people.
What Do Winners & Losers Get in the End?
After we discussed the weird bets, it is time to say a few words for the winner’s prize and the losers’ losses. Money is the standard prize with a casino, sports betting, and other gambling-related wagers. Some gambling locations may add extra material prizes and benefits for the players. Leaving the money award aside, most of the funny bets and wagers with unusual consequence are made outside of the casinos.
The Winner Gets the Prize
The lost bets games have all kinds of alluring prizes that got the players to attend in the wagers in the first place. Sometimes the prize is incredible and worthy of the serious bet, while other times, it is more personal. Here are some of the things people bet for:
- Money, jewels, family values
- A vehicle like a car, motorcycle, yacht
- House or another real estate property
- Valuable artefacts, antiques, arts and crafts products, or other objects
- Respect for winning
- The right to brag
- Earning a title like “Ghost Rider” (in a wager where the winner set his head on fire)
- Winning a wife (it is barbaric, but it is still a frequent practice)
As you can see, all those prizes have a significant value that can be monetarily measured or bring emotional satisfaction to the winner. You may notice a correlation between the seriousness of the wager and the size of the bet, but the reality shows that there are all kinds of winning-losing variations with bets of all shapes and sizes.
Funny Punishments for Losing Bets
The funniest part of the lost bets videos is to see how the losers pay the price. The punishment for the bad luck in gambling has many faces depending on who you are betting against, the wager, the prize, and how the losers will pay up. In the late years, the funniest punishments for bet losers are to change their appearance:
- Wear clothes typical for the other sex
- Men can be made to wear crazy make-up
- Men can be punished to shave their legs
- Messing your hair with a new cut or a crazy colour
- Wear a mascot suit or a costume for a period of time
Sometimes lost bets punishments leave a permanent mark that can’t easily be forgotten by deleting the picture from Instagram. The losers of those wagers are pushed to make temporary changes to their bodies and live with them for an extended period:
- The gambler who had to wear breast implants for a year.
- Get your names changed to something crazy like “Full Metal Havok More Sexy N Intelligent Than Spock And All The Superheroes Combined With Frostnova”.
- Make a lost bet tattoo or a gambling themed tattoo.
Sometimes the losers’ punishments are as creative as they can be. Our list of the worst lost bets also holds some of the funniest punishments we found online:
- Watching My Little Pony (and eventually loving it)
- Getting a pie in the face
- The looser kept the item neither one of the bettors wanted
- Singing a silly song or the song you hate most
- Losing husband walking to people and admitting his wife is right
As you can see, placing a wager is always fun unless you lose. We had a lot of fun writing this article and hope you had just as much fun while reading it. We are leaving you with the recommendation to take the safe approach to wager and lower your chances of losses. This means to play only at legal and licensed casinos with well-considered amounts. As for the friendly betting, have fun, but don’t leave any permanent marks on your body or property. Remember that there is no such thing as a certain win.
Worst Lost Bets Popular Questions
The lost bets are everything from a touchy subject to a personal tragedy. No one likes to lose wagers, especially if valuables and a lot of money are involved. Our readers asked many bet losing questions, and now, we intend to answer the most common ones.