Online betting platform TAB has confirmed that someone placed $160,000 on Lionel Messi's side to kick off their World Cup campaign with a win in Doha.
The Copa America champions are tipped as one of the favourites of the tournament alongside fellow South Americans, Brazil.
However, the team which sits at number three in the Fifa rankings did not even manage to scrape together a draw against their 51st-ranked counterparts, instead losing 2-1 in the day three opener.
At odds of $1.13, the bet would have returned the fan $180,800 (£90,000), representing a profit of just $20,000 (£16,000) when compared to the huge sum they had to put on in the first place.
Argentina took the lead through their talisman who scored from the penalty spot but two quickfire second-half goals from the Saudis produced one of the biggest upsets in World Cup history, less than a week into the tournament.
Elsewhere, football fans inspired by Saudi Arabia’s win, have backed Australia to do the impossible and beat reigning World Cup champions, France.
Graham Arnold's side is still presented with a monumental task despite Didier Deschamps' Les Bleus carrying a weakened squad hampered by injuries to key players such as Karim Benzema, Paul Pogba and N’Golo Kante.
But those setbacks have inspired some betters to put their money on the Socceroos. One football fan stakes $700 (£589) at $12 (£10) odds for an Australia win, which would return $8,400 (£7,000).
Another put $500 (£420) on the Aussies but at slightly shorter odds of $10 (£8) equating possible winnings of $5,000 (£4,209).
World Cups are renowned for dark horses springing huge surprises on the rest of the competition and advancing deep into the tournament, as well as teams expected to go far in the tournament crashing out early.
Croatia reached the final in 2018 and one punter has backed them to go one step further and win the competition, putting $5,000 on Luka Modric’s team.
At odds of $51 (£42) a Croatia triumph would result in winnings of $255,000 (£214,000).
Another punter has put $1,000 (£840) on Switzerland to win the tournament, with possible winnings of $101,000 (£85,000) with the Swiss listed at $101 (£85) odds.