Posted March 29, 2014 by John Baintree in News

Gambling losses that will make you cry


There are always plenty of stories about people who gamble and loose. For some strange reason we seem to be drawn to their cases, is it pity, sorrow or perhaps a misplaced sense of irony? Whatever the motive here follows a selection of stories about gambling that will certainly bring tear to your eyes.

1 The Inebriated Oriental

In 2007, Terry Watanabe rose to prominence at Caesar’s Palace. During the year he lost an estimated $120 million playing poker. Such was his reputation that whenever he sat down to a marathon session tourists would descend on the casino from miles around.

2 The Guy in Electronics

Omar Siddiqui played blackjack – big time! Working for an electronics company on a salary of approximately $225,000 this guy gambled $65 milion by betting astronomic amounts at blackjack that he played at a furious speed. $65m on a $225k salary? Guess what, he was done for fraud!

3 The One Least Expected To Succeed

Archie Karas was a Vegas legend because he arrived with $60 and managed to turn it into $30 million. Lady luck ran with him to create such a pool of winnings but eventually she turned away and he lost the lot.

4 The Fastest Looser

Ex Labour MP and disgraced media tycoon Robert Maxwell was a legendary gambler. He is widely recognised as the gambler who made the single biggest loss in the shortest period of time –ever. He lost a staggering £1.5 million in less than three minutes at the Ambassadeurs in London, that’s £8 grand a second – Go Captain Bob, go!

5 The Snooker Star

Favourite World snooker star Jimmy White did quite well out of the game. Then he found poker and the gee gees. He is rumoured to have lost $6 million across the gambling hot spots of Europe.

6 The Down Under Gambler

Australian media tycoon (another one?), Kerry Packer was a massive, if not disciplined looser. He went on a gambling spree in London and over a single session at the Ritz he threw in the towel with £15 million losses. Perhaps 15 is Kerry’s unlucky number or his own house limit as he repeated the loss shortly after at another of London famous casino hotspots.

7 The Inscrutable Japanese?

Akio Kashiwagi, a Japanese property developer was a baccarat player who loved high stakes. In one game at the Trump Casino in New York City he lost $10.5 million on one hand. Oh well – throw up a few more tower blokes mate.