The Key is to Limit Your Losses while Gambling
Have you ever lost money gambling at an online bookie service? No bettor wins bets every time. Some people incur huge losses when they are amateurs but gradually reduce them as they perfect their gambling skills. The following five bettors lost the highest amounts of money gambling in history.
1. Gus Hansen
Gus is a renowned live poker player who has defeated many poker pros. He drastically increased his net worth in the early 2000s by winning foreign and on-strip poker tournaments.
The player shifted to tilt poker in 2010 and started making big losses in the game. Gus’ screen name shows that he lost over $20 million, which is $12 million more than the second-highest online poker loser. Even so, he still makes huge wins in live games despite not being successful in online poker.
2. Zhenli Ye Gon
Zhenli gained fame in Las Vegas especially due to the United States- Mexico drug war. The police discovered $207 million inside his villa in Mexico, and it was their largest sum of drug money to ever find in Mexico’s history.
The Mexican drug lord later flew to the US. He caught many people’s attention in 2016 when he revealed that his personality is different from that of El Chapo Guzman. Surprisingly, the police extradited him to Mexico, in the same prison that El Chapo was sentenced to.
Zhenli once lost more than $80 million in Venetian Casino, Las Vegas. The casino had previously lent him $35 million. Still, he lost an extra $45 million in several casinos that are adjacent to the Venetian.
The US government charged the Venetian Casino almost $50 million for failing to report Zhenli’s suspicious wagers. This relieved Zhenli of his debt.
3. Charles Barkley
Charles is fondly known as Chuck. He began betting while playing in the National Basketball Association (NBA). The former basketballer confessed in an interview that he started dreaming of traveling to Las Vegas to win $1 million when he was young.
His dream slowly changed to gambling addiction as he occasionally won $1 million while casinos won in other times. Charles made regular visits to Las Vegas and lost more than $30 million before discovering his Vegas trips’ adverse effect on his financial status. He decided to take a two-year break from betting and went for rehabilitation.
4. Harry Kakavas
Harry is among the most famous gambling addicts in history. He filed a lawsuit against the Crown Casino in Melbourne; in an attempt to recoup his losses.
By then, the bettor had made $1.5 billion total betting turnovers within 14 months. Unfortunately, Harry lost most of this amount at Crown Casino. His loss is among the biggest ones that have ever been witnessed in Las Vegas, Macau, and Melbourne casinos.
Harry once lost $164 million within six hours after betting $300,000 on each hand. Records state that he lost $4 million in a day in Las Vegas. He ended being in deep debt and bankrupt as he had borrowed the money he staked.
5. Terrance Watanabe
Terrance was famous in Las Vegas in the late 2000s. He was addicted to drinking and betting. Harrah’s Entertainment Inc. owns Rio Casinos, and Caesar’s Palace in Vegas, took advantage of Terrance’s addictions and made him bankrupt, according to a statement given by the bettor’s lawyer.
Watanabe wagered $828 million in 2009 in the casinos and incurred a $127 million loss hence being the largest betting loss in Las Vegas history. This was about 5.6 percent of Harrah’s annual revenue.
Each professional gambler knows that at times, you can win consecutive bets and have a losing streak at other times. It is wise to take a break from betting when you make huge losses to review your gambling strategies. Also, you can consult a sharp bettor to avoid repeating costly mistakes at bookmakers or casinos.
Keep up with your latest sports betting news and tips by heading to our favorite pay per head bookie site at http://www.realbookies.com/.
