If you search the internet for the biggest gambling losses in history, you'll find the same old stories. The stories of snooker legend Jimmy White, daredevil Terry Watanabe and various media moguls who have lost more money at the casino than any of us will make in a lifetime. In some cases, they haven't even scratched the surface of their fortunes, like Australian media mogul Kerry Packer, who became a billionaire after losing tens of millions.
But here are some examples of the biggest, fastest, and most ridiculous gambling losses of our time.
The world's biggest casino losses
Charles Barkley (14 million)
Eleven-time NBA All-Star and 1993 MVP Charles Barkley is known for his gambling addiction. Despite the power forward's highly successful career and being one of 14 players in NBA history to have more than one number retired, he managed to lose nearly all of the millions he made during his 16 years in the league.
The Philadelphia 76ers legend had a serious gambling addiction. However, this was not a problem for him. In an interview with ESPN, the player admitted to losing around $10 million (around £7 million) due to gambling. Also admitted to losing $2.5 million in one blackjack game. He should probably check out our blackjack strategy tips. One Reddit user even claims to have seen the NBA legend bet up to $60,000 on a single roulette spin during his time with the Houston Rockets.
However, in 2008, Wynn Casino in Las Vegas filed a complaint against the Hall of Famer. The player failed to pay his gambling debt of $400,000. After paying off the debt, he announced that he would stop gambling for the next few years. Again, the grieving gambler opened up about his gambling habits in 2015, when his Vegas losses eventually reached around $20 million. However, now that he's got his problem under control, he plays moderately, and even though he continues to lose more money than any of us make in a year, he keeps his budget under control.
Michael Vick (All)
The story of Michael Vick is known throughout the United States and in most countries of the world.
He is a former NFL player who not only lost a lot of money, but also his freedom and reputation due to illegal gambling.
The quarterback of the "Atlanta Falcons" team got into a huge mess, which took about ten years to unravel, when he was put in prison for financing and organizing dog fights. Pleaded guilty to financing gambling in the ring and facilitating the organization of fights.
The NFL suspended him without pay almost immediately after pleading guilty. In addition, the Falcons sued him and demanded that he return a significant portion of his signing bonus. In the end, the court ruled that he owed the team $19.97 million (over £14 million), which he was able to pay.
In 2008, while still in prison, Vick filed for bankruptcy and said he owed between $10 million and $50 million. Then he did everything he could to get them back by liquidating all his assets. In November 2017, ESPN reported the former NFL star's latest $1.5 million payment, paying various creditors $17.4 million -- 99.9% of his debt.
The retired football star currently works as a studio pundit for Fox Sports.
Wayne Rooney (£500,000)
Manchester United and Everton superstar Wayne Rooney is a notorious gambler. However, last May he took it a step further at Casino 235 in Manchester. According to reports, the footballer arrived at the casino around midnight and managed to lose £500,000 in just two hours.
Rooney managed to lose this amount with the help of only two games - blackjack and roulette. According to anonymous witnesses quoted by The Mirror, “he was playing red a lot when playing roulette, which seemed appropriate, and kept betting on certain numbers. He kept losing, but it only made him bet more."
Various media speculated that his wife, Coleen, would be furious once she found out. What's more, the day after the story broke, the Daily Star revealed that it might even veto Rooney's possible move to China in order to keep a closer eye on him. As many of you probably know, the rumors of a move to China were never confirmed, but we still don't know if Coleen was the reason.
In any case, Rooney admitted that he placed the bets out of boredom when his then-fiancée was not at home. He also lost half a million while she was on vacation with the kids. So it is clear that Colin should not leave the legendary football player alone for long.
Anonymous (250,000 euros)
This story appeared from the mouth of a croupier. He's a Reddit user known as Citymike who shared it in a thread about incredible stories from casino workers.
Croupier Citymike was assigned to a separate table for one high roller. When he got there, the player walked in with a bag full of cash totaling $350,000 (around €250,000). He started playing blackjack with a max bet of $5,000 per card, which equaled $35,000 per round, and lost them in 15 minutes.
“This is not the biggest loss we have ever heard of in our institution. And not the fastest. However, what caught our attention was that this anonymous high roller did not leave any tips. Losing $350,000, this scumbag could at least give Citymike five or ten bucks, right?
Harry Kakavas (11 million euros)
No list of the biggest losers in gambling would be complete without the tragic story of Harry Kakawas. The former Australian billionaire is perhaps the most famous loser in the history of gambling. He bet nearly €1,000,000,000 (yes, that's a billion, stop staring) on casino games over 15 months. He didn't lose all his money, but he spent about 11 million euros, which was much more than he could afford.
Kakawasa suffered a great loss after years of struggling with gambling addiction. In 1998, he was sentenced to four months in prison for defrauding a major Australian company of more than €160,000. He used the money to fund his gambling addiction. After 6 years, he returned to the same casino, where he lost a fortune.
The biggest losses in casinos in Ukraine
Roman Maksymiuk (300 thousand)
Roman Maksymyuk, the former midfielder of the Ukrainian national team, became one of the most famous victims of gambling among the country's athletes. At some point, when his career was already on the decline, Roman became interested in casinos, deciding to test his luck in the world of gambling. He quickly got into the habit, betting more and more until he reached a round sum of $300,000.
Maksymiuk made bet after bet, hoping for a big win, which would allow not only to return the spent funds, but also to feel the excitement of great success. However, each rate only increased his debts. Despite his experience, the football player, who was used to high risk, could not stop in time. As a result, he was left with huge debts that could not be covered by his football earnings.
Ivan Yaremchuk (one million dollars)
The former football player of the legendary Kyiv "Dynamo" was remembered by fans for his bright performances on the field, but his life outside the sports arena was less successful. In the 90s, Yaremchuk succumbed to the temptation of gambling. At first it looked like innocent fun, but soon the stakes and amounts at stake began to get out of control.
The culmination of this story was a million dollar loss. Overconfidence and the desire to win even more led Yaremchuk to the financial abyss. Attempts to play back only worsened the situation, and the debt grew, leaving the athlete without his savings, apartment and car.
Oleksandr Aliyev (110 thousand)
The star, ex-football player Oleksandr Aliyev, known not only for his successful performances, but also for his tumultuous lifestyle, once admitted that he lost 110,000 dollars in one evening in a Kyiv casino. This is only one known incident from his life.
Conclusion
Casinos and gambling can turn a person's life upside down overnight, easily forcing them to part with sums that have accumulated over the years. And it is not even so much a matter of winnings or losses as of a powerful psychological influence exerted by the atmosphere of excitement. Successful people who have already made it in both career and financial terms suddenly find themselves defenseless against this beckoning light of chance winning, falling into a dangerous game where chance and luck seem completely in control until it is too late.
It is sad that many come to the casino with thoughts of easy profit or in search of adrenaline, but leave there, losing not only money, but also their internal balance. Over time, such "harmless" attempts to play back can turn into a serious addiction, because the desire for revenge and excitement are too tempting. Maybe you should remind yourself that every win in the casino is just luck, and every loss is its shadow.