Worst Gambling Debts of All Time

None of us like to lose, but it’s an experience that every single person has had to face at some point in their lifetime, whether it is a game played as a child or a job to another candidate. And if you’ve dabbled in the wonderful world of casino gaming, that statement is right on the money.

With casinos designed to ensure that they make a profit, players are almost trained to understand that you will experience losses, but that there is also a good chance you will experience a win that makes up for all of them if you play your cards right.

However, there are some that take too big a risk without enough skill when embarking on their quest to massive, with some making history as the biggest gambling losses that we have ever seen.

Kakavas’ Billion Dollar Loss

A man with a serious passion for gambling, Harry Kakavas managed to pile up a debt of $1.5 billion in just 14 months, losing a whopping $164 million in just under 6 hours when he made the decision to bet $300 000 per hand.

Like many others, Harry is currently fighting his gambling debts in court. This isn’t the first time that he has had to go through this ordeal, and it probably won’t be the last considering his legal team has made the claim that he has a serious disability in the form of a gambling addiction.

Terrance Watanabe

One of the biggest debts to take place in the glitzy and exciting city of Las Vegas, Terrance Watanabe’s loss of $127 million came as a huge shock to his family that were completely unaware of his gambling addiction.

Apparently, Terrance would lose up to $5 million a day but once claimed that the casino was drugging him with pain medication and feeding him copious amounts of alcohol to keep him betting.

Terrance refused to pay as much as $14.7 million that was given to him on credit by the casino, and in 2009 he was charged with 4 felony counts that stated he was intending to steal and defraud. Eventually, Watanabe admitted he had a problem and the differences were settled outside of court.

Story of Mark Johnson

While Mark Johnson may not be in debt today, he did manage to rack up one of the biggest gambling debts that Las Vegas has ever seen, and his debt appears to be increasing as his legal team aims to battle his case against the casino in question.

The story begins with a 52-year old businessman who, like most Vegas visitors, was in search of a good time over the course of the Super Bowl weekend – right up until he lost a whopping $500 000 playing table games.

In spite of the fact that the casino figured he was trying to find some kind of loophole to paying his debt, Mark argued that the casino served him drinks when he was too intoxicated to see his cards, never mind make sound, smart decisions with his money.

Venturi’s Tragic Software Glitch

This has got to be one of the saddest losses that we have come to know over the many years that gambling has been claiming money from hopeful players. While Bruno may not have gambled his way into debt, he did manage to see as much as £650 000 slip out of his fingers in a matter of seconds.

Venturi managed to win the amount after playing slots online, but unfortunately, he was unaware of the fact that the software had a minor bug and was therefore only charging him for 1 in 6 bets that he made. Venturi lost his case against the casino, as well as an additional £59 908 while gambling money he technically didn’t have.