The Largest Casino Wins and Losses in History
Casinos have always been known to be a place where fortunes can be made and lost in just one night. Over the years, many gamblers have walked into casinos with high hopes, only to walk out with nothing. On the other hand, there have been some who have walked in with little and walked out with millions. Here are some of the largest casino wins and losses in history.
Biggest Casino Wins
- Archie Karas – In 1992, Archie Karas walked into the Las Vegas casino with just $50 in his pocket. He went on an incredible winning streak and turned that $50 into $40 million in just three years. However, he later lost it all and went back to being broke.
- Cynthia Jay-Brennan – Cynthia Jay-Brennan, a cocktail waitress, won $34.9 million at the Desert Inn in Las Vegas in 2000. She planned to use the money to pay for her sister’s medical bills and take her family on a trip around the world. Unfortunately, tragedy struck when she was involved in a car accident just a month after winning, which left her paralyzed and her sister dead.
- Elmer Sherwin – Elmer Sherwin hit the jackpot twice in his lifetime. He won his first jackpot of $4.6 million in 1989 at the Mirage in Las Vegas. He then went on to win another jackpot of $21.1 million at the same casino in 2005, at the age of 92.
Biggest Casino Losses
- Terrance Watanabe – Terrance Watanabe, a businessman, lost $204 million in a year at Caesars Palace and the Rio casinos in Las Vegas. He was accused of being fed alcohol and pain medication by the casino staff to keep him gambling.
- Harry Kakavas – Harry Kakavas, an Australian businessman, lost $164 million in just over a year at the Crown Casino in Melbourne. He claimed that the casino took advantage of his gambling addiction and that they should not have allowed him to gamble in the first place.
- Charles Barkley – Charles Barkley, a former NBA star, lost $30 million in just six hours of gambling at the Bellagio casino in Las Vegas. He later admitted to having a gambling addiction and received help for it.
These stories are a reminder that gambling can be a double-edged sword. It can bring wealth and fortune, but it can also lead to ruin and despair. It is important to gamble responsibly and not let it consume our lives.