5 of the Greatest Gambling Losses in History

Image by kues1 on Freepik

5 of the Greatest Gambling Losses in HistoryGambling, with its tantalizing promise of wealth and excitement, has a dark side that often remains hidden behind the glittering lights of casinos and the thrill of high-stakes games. Some individuals, driven by the pursuit of fortune, have experienced monumental losses that stand as cautionary tales in the world of gambling. Here, we explore five of the greatest gambling losses in history, revealing the devastating consequences of risking it all on the roll of a dice or the turn of a card.

1) Terrance Watanabe – $204 Million in a Year

In the mid-2000s, Terrance Watanabe, a successful businessman, found himself in the midst of a gambling spree that would go down in history. He visited the Caesars Palace and the Rio casinos in Las Vegas, where he wagered an astonishing $204 million in a single year. Watanabe’s game of choice was high-stakes baccarat, and his luck seemed to have run out. By the end of his gambling binge, he had lost an eye-watering $204 million, making it one of the most significant individual losses ever recorded.

2) Harry Kakavas – $164 Million in 14 Months

Australian businessman Harry Kakavas had a penchant for high-stakes gambling, particularly at the baccarat tables of the Crown Casino in Melbourne. During a frenzied 14-month period, Kakavas managed to lose an astounding $164 million. His addiction to gambling led him to sue the casino, claiming they took advantage of his compulsive behavior. The legal battle that ensued shed light on the dark side of the gambling industry and the responsibilities casinos bear when dealing with high-rolling, addicted gamblers.

3) Akio Kashiwagi – $10 Million in a Single Baccarat Session

Known as the “Warrior of Baccarat,” Akio Kashiwagi was a Japanese real estate tycoon who loved to live on the edge. In 1992, he faced off against Donald Trump at the Trump Plaza in Atlantic City. Kashiwagi’s favored game was baccarat, and during one memorable session, he lost an astonishing $10 million. Despite his willingness to take risks, Kashiwagi’s luck eventually ran out when he was found murdered in his home in 1992, a crime that remains unsolved to this day.

4) Charles Barkley – Estimated $10 Million in Gambling Losses

Charles Barkley, the NBA Hall of Famer, is renowned for his achievements on the basketball court. However, off the court, Barkley developed a notorious reputation for his high-stakes gambling. Estimates suggest that Barkley has lost around $10 million over the years through sports betting and casino games. Despite his losses, Barkley maintains a candid attitude about his gambling habits, acknowledging both the highs and lows that come with the territory.

5) Kerry Packer – $20 Million in a Single Blackjack Session

Kerry Packer, the Australian media mogul and billionaire, was known for his extravagant lifestyle and penchant for risk-taking. In 1999, Packer engaged in a legendary blackjack session at the MGM Grand in Las Vegas. The stakes were jaw-dropping, with Packer reportedly losing $20 million in a single night. However, Packer’s immense wealth allowed him to weather such losses without significant financial repercussions, demonstrating that even the most substantial losses can be absorbed by those with the means.


The stories of these individuals serve as cautionary tales about the perils of excessive gambling. While the allure of winning big is undeniable, the risks involved can lead to devastating consequences. These five cases highlight the thin line between the thrill of victory and the agony of defeat in the high-stakes world of gambling.

Photo: Freepik

Playing the Long Game: 5 Strategies to Avoid Burnout for Professional Gamblers

Image by jcomp on Freepik

Playing the Long Game: 5 Strategies to Avoid Burnout for Professional GamblersThe world of professional gambling is exhilarating, challenging, and often unforgiving. As individuals navigate the complexities of high-stakes games, the risk of burnout becomes a persistent concern. Burnout can compromise decision-making, erode mental resilience, and jeopardize the success of even the most seasoned professional gamblers. In this article, we delve into five strategies that can help these individuals navigate their careers with longevity and sustained success while avoiding the pitfalls of burnout.

1) Establish Healthy Work-Life Boundaries:

One of the primary contributors to burnout is the blurred line between work and personal life. Professional gamblers often find themselves immersed in the demands of their profession, leading to exhaustion. Establishing clear boundaries between work and personal time is crucial. Allocating specific hours for gambling-related activities and ensuring dedicated downtime allows professionals to recharge both physically and mentally. By creating a balanced schedule, gamblers can maintain a healthier perspective on their profession and reduce the risk of burnout.

2) Diversify Gaming Activities:

Monotony is a breeding ground for burnout. Professional gamblers who focus exclusively on one type of game or betting strategy may find themselves succumbing to boredom and fatigue. Diversifying gaming activities not only keeps things interesting but also challenges the mind in new ways. Whether it’s exploring different casino games, sports betting, or incorporating fresh strategies, variety can rekindle excitement and motivation, mitigating the risk of burnout.

3) Prioritize Self-Care and Well-being:

The demanding nature of professional gambling can lead to neglect of personal health and well-being. Prioritizing self-care is essential for preventing burnout. Regular exercise, a nutritious diet, and adequate sleep contribute to physical and mental resilience. Additionally, engaging in activities that bring joy and relaxation, such as hobbies or spending time with loved ones, fosters a holistic approach to well-being. By nurturing their physical and emotional health, professional gamblers can better cope with the pressures of their profession, reducing the likelihood of burnout.

4) Set Realistic Goals and Expectations:

Professional gamblers often set ambitious financial goals, which, while motivating, can also become sources of immense pressure. Setting realistic, achievable goals and managing expectations is crucial for maintaining a healthy mindset. It’s important to recognize that losses are an inherent part of gambling, and not every day will be a winning day. Professionals who acknowledge the volatility of their profession and approach it with a realistic mindset are better equipped to weather the ups and downs without succumbing to burnout.

5) Embrace Continuous Learning and Adaptability:

The gambling landscape is dynamic, with rules, strategies, and market conditions constantly evolving. Embracing a mindset of continuous learning and adaptability not only enhances professional gamblers’ skills but also provides a sense of purpose and growth. Staying updated on industry trends, learning new games, and refining strategies fosters a sense of mastery and engagement. Professionals who view their careers as dynamic and evolving are less likely to experience burnout, as the learning process becomes an intrinsic part of the journey.


Professional gamblers, like any other professionals, are susceptible to burnout. By implementing strategies such as establishing healthy boundaries, diversifying gaming activities, prioritizing self-care, setting realistic goals, and embracing continuous learning, they can safeguard their well-being and longevity in the industry. By taking proactive steps to prevent burnout, professional gamblers can continue to navigate the challenges of their profession with resilience, passion, and sustained success.

Photo: Freepik