Fidel Nikitin, 27, hoped the £2,300 gamble would allow him to clear his debts but Portugal went on to beat the host nation on Sunday.
Police said he walked onto the Ludzya-Izhevsk railway track and did not flinch as a train sounded a warning.
Relatives revealed university educated Fidel was deeply shocked after Portugal beat France to win the tournament.
Fidel had taken out a series of loans but was unable to pay them back.
He had hoped winning the bet would allow him to repay his debts.
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