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Famous Casino losses

Published on: 24 November 2020
Famous Casino losses
Casino gambling

Gambling is a high-risk venture by nature. As such, a gambler should expect to win or lose. When a player loses, the house wins. Here are some of the legendary casino loses so you can find mobile slots more suited for you gameplay.

Terry Watanabe

American businessman Terry Watanabe estimated to have lost a total of about USD 205 million. In 2007, he lost USD 120 million at Caesars Palace Las Vegas Hotel & Casino in the US. He was nicknamed ‘house player’ by the casino management. He got this nickname because he opted for games that the casino had the upper hand in. At some point, Terry could not pay back the casino, a lawsuit to claim over 14.75 million. He filed a counterclaim telling the court that the casino oppressed and offered him drugs with the intention of intoxicating him, to keep him gambling for a long time. Both parties settled the matter out of court.

Frank Saracakis

Greek billionaire Frank Saracakis and car businesses owner lost USD 13 million in one night. He suffered this huge loss at London’s Crockford's Casino. In 1994, he lost over USD 10 million. He had opted to experiment with the Martingale system, which uses technology to help win large amounts of money, but can also cost losses. Frank lost a similar amount in 1998 at the London game houses casino.

Kerry Packer

The media tycoon is among the most desperate high rollers. Australia's richest man lost £20 million in three weeks, and also lost £15 million in a night at a London casino. In both cases, witnesses said he left like nothing major had happened. In 1999, he lost about USD 28 million at Crockford's Casino in London and another USD 25 million while playing roulette at a casino in South-East England in one night. He neither regretted his gambling losses nor celebrated his big wins.

Robert Maxwell

The famous media baron is rated the biggest roulette loser. He lost USD 2.4 million in a few minutes at the London casino Ambassador. He also made a historic loss of £1.5 million in three minutes while playing on three different roulette wheels concurrently.

Charles Barkley

He was an NBA TV analyst and one of the 50 greatest basketball players in history. He used to admit to his gambling addiction. He ones lost USD 2.5 million during one six-hour blackjack game. Barkley lost between USD 10 and USD 30 million at the casino during his gambling experience.

Akio Kashiwagi

The Japanese real estate manager preferred to gamble using large chunks of money. He particularly loved playing baccarat and as such his average baccarat bet ranged between USD 100 and USD 200 thousand. He once invested USD 12 million at Donald Trump’s casino in Atlantic City but lost USD 10 million at the casino and took only USD 2 million home.

Faroud al-Zayat

The Syrian businessman loved to play roulette at Aspinalls Casino in London. He lost USD 500 thousand within minutes of opening an account. This translated to a loss of USD 3.5 million at the casino in one night.

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