10 Biggest Gambling Losses Of All Time

[Music] number 10 Carrie Watson Ovid the american-born businessman whose father founded the plastic trinket business oriental trading company reportedly gambled and wasted away 205 million dollars in just one year his gambling spree took place at two Harrah's casinos on the Las Vegas Strip the Caesars Palace and the Rio his gambling craze would attract tourists near and far to watch him he often played multiple high-priced hands of blackjack at $50,000 per hand but he would lose regularity even losing 5 million in just one day 50 million in six months and a hundred million a month later Harrah's Entertainment Inc toward the 6% of its gambling revenue that year came solely from Watanabe racking up a total of 204 million dollars watson ave mash to pay back hairs approximately 110 million however he refused to pay the rest insisting that the casino took advantage of him while he was intoxicated a clear violation of state law number 9 gen Lee yeh goin during 2004 and 2007 this Chinese Mexican businessman had reportedly blew away 85 million dollars at the Venetian in Las Vegas and 40 million at several other major casinos even went on to waste several other millions in credit the casino has lenta but that was eventually written off as bad debt never added to his total amount lost his losses were so large that even affected the bonuses of Las Vegas Sands and Venetian executives although he lost a lot he was still rich he made a report 350 million dollars over the course of three years as the CEO of he knight of farm 10 but he was drug lord and was also channeling huge amounts of his methamphetamine imports to the Sinaloa cartel in Mexico it wasn't before long though Mexican drug agents and the American DEA officials caught up with them searching his Mexico City home in 2007 where they made the largest drug cass seizure of all they found two hundred and ten million dollars hidden in the floors of his mansion all in US $100 bills gone was later found guilty in August 2014 for organized crime synthetic drug production and activities involving the use of illegal funds number 8 Omar Sadiki this highly successful vice president of a popular electronics company had a little far less success at gambling and actually win it he will portly blew away 65 million dollars betting recklessly just like a headless chicken betting as much as $200,000 per hand at blackjack wasting approximately 160 million over a three-year period at the MGM Grand Casino and Sands Casino in Las Vegas his gambling addiction produced a great losses in the millions with amounts of 8 million lost in a single day for casinos Niki was the jackpot for profits everyone wanted him in their establishment and loaned him millions on the strength of his executive status swimming in the Red Sea a debt siddik we came up with a brilliant plan to defraud his employer Fry's Electronics out of 85 million to pay his Vegas gambling debts alone but his plan failed he stood trial in 2008 and accepted to deal alternately being sentenced in 2011 to six years in prison on fraud charges unable to pay his casino debts he also owed the IRS 22 million in taxes number 7 Kerry Packer while most famous gamblers accumulate the wealth on the tables and through roulette wheels Harry Potter was an exception to the norm Packer built a media empire during his lifetime and became known as Australia's richest man and wildest gambler due to his high-stakes gambling ventures in blackjack poker and baccarat he managed to lose 42 million in less than a year between September 1999 in August 2000 including losing more than 20 million during a three-day baccarat tournament during the weekend in Las Vegas the Packer being famous in Australia wasn't enough he went on to rack up one of the largest gambling losses in British history after burning 470 million in three weeks during a gambling session on blackjack at the Crawfords casino in London Packer was a dangerous gambler in casinos feared him on one occasion he reportedly forced the London's Aspen halls club to shut down after winning so much money in blackjack another time amazingly it was said the Packer almost broke the MGM Grand which resulted in the dismissal of several prominent employees who allowed him to make huge bets number 6 Archie Karras Archie will go down in history is one of the most famous gamblers and poker players ever why this gambling guru has the longest documented winning streak in gambling history from 1992 to 1995 using literally only $50 and turning it into a fortune of 40 million but this wasn't enough and rather to quit while he was ahead he wanted more you bet he kept gambling and went on to lose all of the money playing craps from baccarat but this story gets even more interesting in September 2013 he was arrested in Las Vegas after being accused of marking cards and using hollowed-out chips to mark jqk and a at a blackjack table at a San Diego casino although faced with three years in prison for charges of burglary and winning by fraudulent means the judge was a very lenient and sentenced him to three years probation since he had pleaded guilty to one count of felony burglary it's very clear now that the hollowed-out chips may have just revealed his real poker playing skills number five Harry to kavas this successful Australian real estate sales rep had approximately spent 1.5 billion at the Melbourne crown casino in just a little over a year mainly on most high rollers favored game baccarat during one gambling session in May 2006 he reportedly spent over a hundred and sixty million dollars in less than six hours and was placed behind bars after he was caught stealing around 300,000 to keep up his habit what was even more surprising than his actual losses was that he sued the casino in 2013 with the aim to recover and clear some of his debts claiming they exploited his gambling addiction and even enticed him to gamble more by giving him VIP access to the casinos private jet well you don't need to be a genius to have guessed that he lost the case Chief Justice Roberts of the High Court ruled the casino did not take advantage of Kaka vas he was a successful businessman entirely capable of making decisions on his own and as such he is entirely responsible for all his excessive gambling actions number four Maureen O'Connor as the only female gambler on our countdown list former mayor of San Diego and widowhood the founder of fast food chain jack-in-the-box Robert Peterson O'Connor reportedly gambled away 1 billion dollars on video poker games throughout the 2000s alone after satisfying her gambling needs she ended up in the red by 13 million with nowhere to run she decided to commit fraud and steal 2 million dollars from the charity set up by ur late husband just to offset her gambling losses but that wasn't enough she sold her jewelry and other high-end items just a funder gambling addiction however thanks to her the charity foundation ultimately folded in 2009 due to a misuse of the funds smacked in the face with ten years behind bars after her first try 2013 the court agreed to defer prosecution for two years and to drop all charges if she made restitution receive medical attention for a gambling addiction and just stopped gambling altogether her lawyer Eugenia Dale and her defense claimed that a brain tumor had influence - for judgment and gambling addictions do you agree number three Accio Kashiwagi making easily over a hundred million dollars per year from his real estate and investment business Kashiwagi gambled money away just as quickly as he earned it barring a gambling session in 1990 at the Trump Plaza Hotel and Casino in Atlantic City he reportedly made a deal for a whopping twelve million dollars which won but after just losing ten million he reportedly left the casino with a mere two million and claimed that the casino hadn't held up their end of the deal has a professional baccarat player Kashiwagi enjoyed playing high state games he played baccarat for between $100,000 and $200,000 a hand with playing sessions lasting more than 70 hours in January 1992 he's brutally snapped 150 times with a samurai sword the body was found in his home in Japan on Mount Fuji but unfortunately the murder case still remains a mystery to this day he died owing tecee nose at least nine million dollars number two Jimmy White this famous snooker player had made to losing more than three million dollars gambling on his favorite games horse-racing and blackjack known for his fast and lavish living he was also drug addict for three months during part of his career spending over $400,000 on drugs his crack cocaine addiction and severe alcohol abuse impacted his professional life and greatly even in his autobiography second wind he said cocaine is a mental drug unlike heroin your body does not need it it is only your mind telling you the habit after losing the world championship finals in 1994 he made spending his $200,000 running out prize in just one day he had admitted to being a compulsive gambler betting on dogs horses cards and casino roulette wheels all his life he would even play more exhibitions just to cover his gambling debts only to be stuck in the middle of nowhere still broke and drunk number one Robert Maxwell Robert Maxwell is thought to have made one of history's fastest gambling losses ever recorded can you believe it this former media tycoon blew away more than two million dollars in just less than three minutes playing three different role of wheels LS ambassadors casino in London to make matters even worse he was broke his publishing company had gone bankrupt several years prior because he was unable to repay his debts and the bank seized all his assets but not only Maxwell was a lovely luxury he also adored and loved money which was likely why he loved gambling so much he once had several millions is bank account due to many fraudulent activities his biggest at the time being pension fraud unfortunately shortly after convicted of fraud he died on November the 5th 1991 of course billions in pension fraud cases this goes to show that clearly all the money he was gambling wasn't even his [Music]

Channel: MindChop

Views: 3,177,421

Keywords: biggest gambling loss, gambling, 'baccarat, biggest gambling loss ever, blackjack, poker, archie karas, counting cards, pro gambler, the gambler, gamble, gambling addiction, las vegas, how to win every time, win blackjack all the time, loses million, loses billions, reaction, online, losing money reaction, csgo, cs go, jackpot, worst loss ever

Id: aq1IFpxO7wc

Length: 10min 45sec (645 seconds)

Published: Thu Feb 18 2016