Biggest Wins Ever: Archie Karas

Archie-Karas

Archie Karas is a Greek-American professional gambler and Poker player. He is infamous throughout the casino world for having the longest-running winning streak in casino history. Over the course of three years, the gambling legend was able to transform $50 into a staggering $40 million! This run of unprecedented success has led to Archie achieving infamy and receiving bans in all Nevada casinos.

So, what is the secret to Archie’s success? Well, many would say blind luck, and a lot would consider it to be cheating. But, it’s possible that Archie was just a really proficient gambler, and that he made his own luck a lot of the time. He began by playing competitive pool as a young man and was so successful that nobody wanted to play him any longer, and he had to come up with other ways of making money.

So Archie turned his considerable talents to the Poker circuit, where he has become something of a cult icon. His first real taste of the casino high-life was when he won and then lost close to $2 million at the Poker tables. This left him with just $50 to his name, and this is really where Archie’s legend, as we know it, truly begins.

Now, to say that Archie used his $50 to make $40 million is a little misleading because it’s not exactly the truth. The truth is that he was loaned $10,000 by a friend of his in a Vegas casino, who gave him the money to play Razz, a game with similarities to Poker. Just three hours later he was able to repay his friend, with interest, and still had a huge pile of cash to be getting on with as well!

He used this money to continue playing at casinos and in high-stakes Poker games for the next three years and just seemed to win every time. This led to him amassing a staggering fortune of $40 million in this short time. He has become a folk-tale for aspiring gamblers of what they could become with the right amount of luck and the correct decisions. In fact, during this time, Archie beat many future Poker pros during this time, with legendary player Johnny Chan being the only one to beat him.

But, Karas must go down as one of the great cautionary tales in the world of gambling. As is the case with many successful gamblers, he proceeded to get sloppy and tried his hand at too many different games, and wound up losing everything. The Maverick was once quoted as saying that he didn’t care about money and, as such, didn’t have any fear of losing. This sort of reckless approach made him hugely successful, but also made him bankrupt.

To add insult to injury, he was recently added to the Nevada black book, making it illegal for him to enter any Nevada casinos. There were numerous transgressions that led him to be included in this book, including allegations of cheating and fraud.

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