What was the highest sports betting lost ever?
While there have been several high-profile sports betting losses over the years, it is difficult to determine the single highest sports betting loss ever, as many big losses are kept private by the individuals involved. However, there have been some well-known examples of large sports betting losses.
One example is a British businessman named Terry Ramsden, who in the 1980s placed a series of large bets on horse racing and ended up losing a total of around £10 million (approximately $14 million USD). Ramsden was known for his extravagant lifestyle and had made a fortune in the property market before turning his attention to betting. He reportedly placed bets of up to £500,000 on a single race and would sometimes bet on multiple races per day. However, his luck eventually ran out, and he was forced to sell off his assets to pay his debts.
Another example is a professional gambler named Billy Walters, who was once known as one of the most successful sports bettors in the United States. Walters reportedly made millions of dollars through his sports betting ventures but also suffered some significant losses. In 2017, Walters was convicted of insider trading and sentenced to five years in prison.
It is worth noting that while some individuals have lost large sums of money through sports betting, it is important to gamble responsibly and within your means. Sports betting, like any form of gambling, carries risks and should be approached with caution.