What is the Most Money Ever Lost in a Casino?
$1.5 billion is the most money ever lost in a casino. The money was lost by Harry Kakavas, a well-known high roller. Many news sites claim that he lost the money playing at various casinos. However, the money was not lost in one sitting or day. He lost the money for over 14 months.
When he was at the peak of his gambling, he lost $164 million in May of 2006 in five hours. Those who witnessed him said they saw him placing $30 0000 bets per hand. While on his many visits to Macau, he lost $4 million in one day.
He attempted to get back some of the lost money by filing a lawsuit against Melbourne Crown Casino. He wanted to claim back $20.5 million. In his lawsuit, he claimed that the casino was aware of his gambling problem and took advantage of it. Unfortunately for him, he lost the case.
Biggest Casino Losses
Harry Kakavas is not the only victim of losing money at a casino. There are many stories that you will hear about or even read on the internet. In most cases, the rich and well-known people lose a lot of money since they are betting with big money.
Below we have a list of other people who lost the most money ever in a casino.
Terry Watanabe – $127 Million
Watanabe is known for having the greatest losing streak in Las Vegas. This high roller lost the millions when he was gambling back in 2007. He was playing blackjack at Rio All-Suite Hotel and Casino and Caesars Palace.
Kerry Parker – $13.6 Million
Parker is an Australian billionaire known as one of the high rollers that visit Las Vegas. He was known to be generous to casino staff and shutting down arrogant and disrespectful big spenders. He enjoyed the game of baccarat, and that is where he lost the most money.
Singaporean Businessman – $75 Million
The tycoon managed to lose $75 million when playing at two casinos, Resorts World Sentosa and Marina Bay Sands. It is reported he features on the Forbes list of the richest people in Singapore.
As much as there might be money ever lost in a casino, there are also the big wins at the casino.