Pain Felt Right in the Pocket: 3 Recorded Big Gambling Losses to Date
When you gamble, you pretty much take a risk. There is no real way to assuring that you will always be the recipient of Lady Luck’s favor. While there have been records of meteoric wins in the history of gambling, there have also been some pretty big loses. Today, we take a look at three of the biggest losses in gambling history.
In 2007, a major businessman by the name of Terrance Watanabe told his family that he has lost $127 million in casino losses in a span of a year. According to the employees of the casino that Watanabe frequented, the businessman would spend long stretches of time—often continuously—on the casino floor, playing a multitude of different games.
While this meant good news for the casino that was the recipient of Watanabe’s losses, this did not mean that he was taking this lying down. The businessman argued that the casino personnel had purposely kept alcohol free flowing which affected his decision making. Always remember kids, do not gamble and drink.
While not as large as the item above, it is still a pretty massive gambling. This one was a loss by Harry Kakavas in 2006. Kakavas went on to sue the casino that he frequented, saying that the establishment had knowingly exploited his gambling addiction.
It was said that the casino in question sent free airline tickets to Kakavas merely so he could travel to play again. They also provided accommodation and alcohol. The courts however sided with the casino and stated that Kakavas was merely trying to get out of paying the casino the money they were owed.
Zhenil Ye Gon is a businessman that often frequented Las Vegas for Baccarat. He appeared to be good at it to the point that he had managed to win quite a bit. However, it seemed that he lost more times than he won and ended up with massive losses.
The only thing that set him apart is the fact that he did not try to sue the establishment where he had lost so much of his money.
In conclusion, gambling does come with some serious risk. If you are ever going to put your money on the line, it is important to be smart about it. There were so many mistakes that were made by the men mentioned above. These are mistakes that you can avoid if you wanted to. It is also quite important to keep a sharp eye out on any shady dealings that may keep things in the house’s favor.
While there are those that did experience some massive losses, the reverse is also true. There are those that managed to pull miraculous wins and massive earnings. If there was anything that everyone should take away from this is that when you gamble, there is a significant risk involved. However, when it is done right and the gambler is smart about it, there is practically a whole new world to gain from it.