Famous Gambling Losers in Casinos

Famous Gambling Losers in Casinos

Gambling can be exciting and fun when you are winning. However, it can trigger problems when you lost all your money because of unwise betting actions. Though nobody wants to lose in casinos, therefore, sometimes we get to experience it at some point in our lives. Here, we list down some major gambling losers in casinos for you to know.

Gladys Knight loses $6 Million

With her hits including “When a Child is Born,” “License to Kill” and “That’s what friends are for,” the iconic US soul singer Gladys Knight has an incredible singing career as a singer. The six-time Grammy award winner shared her gaming earnings of $40,000 per night on blackjack and baccarat at the casino tables. It is speculated that over the years, Knight has potentially lost more than $6 million in total. She is the only female on our list of gambling losers.

Harry Kakavas loses $1.5 Billion

A renowned high rolling gambler Harry was rumored to have lost up to $1.5 billion in gambling over a 14-month gambling spree at casinos around the world. The Australian real estate seller made his fortune by selling houses on Australia’s Gold Coast. Back in May 2006, he lost $164 million at the height of his gambling in just 5 hours. Then, he was seen placing bets priced at $300,000 per hand. Kakavas gambled away $4 million in just one day during a one-way trip to Macau.

This man tried to claim $20.5 million of his losses back from Melbourne Crown Casino stating that the casino was aware of his gambling issues and was taking advantage of it. Kakavas lost his case against the casino.

Phil Ivey Loses $10 Million

One of the highest-profile court cases concerning gambling ever occurred when legendary professional poker player Phil Ivey was involved in a legal dispute with Atlantic City’s Borgata Hotel Casino and Spa. Ivey has been accused of cheating to win around $9.6 million playing baccarat at the casino tables. The judge ruled that Ivey had not cheated and that there had not been an act of fraud. Unfortunately, the World Series of Poker bracelet winner was still required to return the winnings he earned from that lucrative casino session; leaving him millions of dollars out of pocket.

Kerry Packer loses $13.6 Million

The Australian Billionaire Kerry Packer is a prominent gambling fanatic who has become a working-class hero across the city casinos due to his generous attitude at the tables. Therefore, he gives tips to the casino staff that is adequate to pay off their debts and bring greedy big spenders in their place when they become rude, making him a popular hero figure. Unfortunately, at some point, the best still falls sometimes. Packer’s weakness was baccarat losing him $13.6 million over three gambling days.

Charlie Sheen loses $2.5 Million

Charlie Sheen, a Hollywood actor, is well known for his surplus living. Back in 2006, he admitted to $2.5 million in gambling on sports betting at several US sportsbooks. Thus, in the document filed with his ex-wife Denise Richards during his divorce it was stated that during their short-lived marriage, Sheen spent $200,000 betting on sports each week for three months. What a waste of money just for gambling.

Charles Barkley loses $20 Million

The NBA Hall of Famer and former power forward of Philadelphia 76ers Charles Barkley is not shy about revealing that he has gambling problems. Hence, Barkley confessed to one incident during a six-hour blackjack session where he lost $2.5 million. This NBA TV Analyst, therefore, has been named as one of NBA’s 50 greatest players in history; but has openly admitted that his casinos spend dollars.

Singaporean Tycoon Loses S$100 Million

During the game, a local businessman gambling at two Singapore-based casinos had lost an estimated S$100 million ($75 million). The billionaire, who featured on the latest Forbes list of the top 40 richest people in Singapore. It has been confirmed to have lost his money at Marina Bay Sands and Resorts World Sentosa.

Terry Watanabe loses $127 Million

One of the biggest gambling losers in the history of Las Vegas hence came when the notorious high-roller; and businessman Terry Watanabe who entered the casino. During 2007, the high stakes gambler went on an insane gambling spree that he lost $127 million of his fortune playing blackjack tables at Caesars Palace; and the Rio All-Suite Hotel and Casino.

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