Biggest losses in gambling


Losing in a casino isn’t new. Most players who end up going bankrupt within a twinkle of an eye as instant millionaires. Even the worst online gambling tales, no player is immune to how much they could lose during a gaming session. This is including if you play online gambling at the best online casino in Malaysia. If push comes to shove, most punters don’t know their boundaries or when to stop.

As much as people have various bankrolls, setting limits in the gaming environment is crucial. Otherwise all of the money would quickly flow directly to the casino operators. Therefore we have a list of impressive casino losses from seasoned players.


  1. Jack McCall

Jack McCall is probably the saltiest loser on the list. In fact, he’s such a sore loser he actually killed “Wild” Bill Hickok over a game of poker. This story began in August 1876, when Hickok was gambling in Deadwood, South Dakota (formerly Dakota Territory), at Nuttal and Mann’s Saloon No. 10. He was drunk, and lost all of his money to Hickok easily.


The latter had been urging McCall to stop playing poker. Hickok also purchased breakfast from the losing player, and offered him money. McCall accepted the money but the gesture also insulted him. The next day, Hickok was again at the poker tables. He normally leaned against a wall with his back so that he could see any possible enemies coming in. The only seat available at the time, however, was one which faced off the entrance. He took the spot, grudgingly.


During the game, McCall got into the saloon and shot Hickok in the back of the head. Wild Bill instantly died. McCall has been summoned to appear in court after murdering Hickok. He said he avenged the death of his brother (Lew McCall) at Wild Bill ‘s hands.


Yet the poker defeats were commonly believed to be the key factor behind the murder. He was nevertheless acquitted and allowed to go free.


  1. Harry Kakavas

Harry Kakavas should never have had to worry about money, anyway. The real estate developer selling luxury properties on Australia’s Gold Coast has made an record $1 billion.


But Kakavas was tired of always winning like many people who get filthy rich. So, he started casino gambling, a lot. During these games the billionaire did not do too well. Since taking a beat on the baccarat boards, he rapidly lost his Milliardaire title and more.


Unhappy with his luck, Kakavas made trips to Las Vegas and Macau hoping to turn things upside down. Such excursions to gambling did not go any better. He personally once lost $164 million in 2006 in a single Vegas session. He claimed that the VIP incentives were used solely to attract him back to casinos. Kakavas lost all legal proceedings and refused to recover any of his major losses.


  1. Terrance Watanabe

Once Terrance Watanabe was a very successful entrepreneur. He helped the company grow to the point where it was selling $300 million annually, as the CEO of Oriental Trading.


In 2000 Watanabe decided to sell his controlling stake in the company after more than two decades in the family business. Until this point the Japanese-American tycoon has always maintained a business-first attitude. Alas, part of this relaxation included long stays in casino resorts. Throughout his stays Watanabe would play anything from slot machines to roulette.


As a result, Watanabe was being treated like a king. When it came to comping him, casinos spared no cost. Watanabe asked a few questions and proceeded to gambl his fortune away. His losses reached a high in 2007, with over $120 million lost.


He eventually spent so much he couldn’t cover his debts. Caesars Palace sued Watanabe in bad checks for $14.75million. The latter challenged Caesars Entertainment on the grounds that he was being offered drugs by the casino just to prevent him playing. It turns out there was some truth to this part of the case.


Caesars was slapped with a $225,000 fine by the Nevada Gaming Commission for letting Watanabe use drugs on their premises and sexually assault waitresses. But the countersuit hasn’t saved Watanabe from paying the casino.


  1. Leonard Tose

Leonard Tose is yet another successful businessman with high stakes gaming heading down the wrong track. Tose earned a fortune of $20 million through his trucking enterprise. In 1969, he used this amount to purchase the Philadelphia Eagles for $16.1 million. A small fraction of the NFL roster will purchase $16.1 million today. Many franchises are worth billion dollars, after all. But, at the time, the price Tose charged for the Eagles was a record.