Famous Casino Losses

Pascal once said that the energy that a player feels when making a wager is equivalent to the sum he may win, times the likelihood of winning it like when you play at Dreamjackpot.com. Yet, at times, players will lose. It is a fact that some players’ losses are enormous. You can always minimize your loses however with some free spins and you can find free spins at https://casinofaeroerne.com/. Below are some of the most famous casino losses.

$1.5 billion - Harry Kakavas 

Harry Kakavas allegedly lost $1.5 billion over a 14-month spree. Kakavas, an Australian, made his billions in real estate along the Gold Coast. The problem was that he was a high roller who would gamble bets such as $300 000 per hand. In 2006 alone he lost $164 million in 5 hours, and another $4 million when he was in Macau. In the end, Kakavas lost his billionaire status, and is still selling houses along the Gold Coast. 

$204 million – Terrance Watanabe 

Terrance Watanabe, a businessman with deep pockets, but also a compulsive gambler, lost a staggering about of money at Caesars Palace and Rio casinos in Las Vegas over a period of a year. It was said that he was under the influence, with some alleging that he was given painkillers to keep him playing at the tables. At the end, he left Las Vegas with a debt of $14 million owing to Caesars. Watanabe did sue the casino, which resulted in his reducing the debt by 30%, yet he never settled the debt. 

$20 million – Chares Barkley 

Chares Barkley, an NBA star, is said to have lost between $10 million and $30 million at casinos by 2015. In one case Barkley, in a six-hour blackjack session, lost $2.5 million. In another case, it was said that he, in a single roulette spin, lost $60 000. 

$13.6 million – Kerry Packer 

Kerry Packer, an Australian billionaire and media magnate, was known for his open-handedness at the tables. From tipping the staff with so much money they could be freed from their own debt, he also exposed egotistical spenders that were disrespectful towards the casino staff and other players. In one example in 2005, he paid off a cocktail waitress’s mortgage, and in another instance, he gave a croupier $80 000. This made him well respected. However, Packer also had a weakness for Baccarat. During one three-day period in 2000, he did not have luck on his side, and lost a massive $13.6 million. 

$6 million - Gladys Knight 

Gladys Knight, a singer and member of the group Gladys Knight and the Pips, suffered from a gambling addiction, and lost a fortune. It is said that she lost around $40 000 per night, and around $6 million over her 10 years of gambling. The Empress of Soul, Gladys Knight was very open about her addiction in her autobiography Between Each Line of Pain and Glory: My Life Story. In the book she recalled how she became addicted to Baccarat and sports betting. However, she did seek help from Gamblers Anonymous. 

$2.5 million – Charlie Sheen

Charlie Sheen, an actor, and someone known to live a bit on the edge, gambled away $2.5 million on sports betting. This emerged in 2006 during his divorce from Denise Richards. It was said that he spent around $200 000 per week over a three-month stretch.

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