Greatest Gambling Losers

[Lucasgabd]

the main thing is still:
not gambling more than one can afford to loose.

it's intresting to know about the greatest losers and all, but I'd be curious to know what was the % of the loss in relation to their total wealth.

keep it as less than 3% and it'll be much easier to survive.

[livingfree]

the main thing is still:
not gambling more than one can afford to loose.

it's intresting to know about the greatest losers and all, but I'd be curious to know what was the % of the loss in relation to their total wealth.

keep it as less than 3% and it'll be much easier to survive.

Many of them are totally rich and that can place around 1%-10% of their wealth. But some others are not too careful of taking their wealth safe, they gamble as much as they can and doesn't think of the outcome.

Knowing their net worth, I think you can search them on google and take time to research about their lives and see how much their worth is. And, how much is the percentage of their total loss within their net.

[qwertyup23]

the main thing is still:
not gambling more than one can afford to loose.

it's intresting to know about the greatest losers and all, but I'd be curious to know what was the % of the loss in relation to their total wealth.

keep it as less than 3% and it'll be much easier to survive.

To be honest, I think their mindset was clouded with bad judgement since they can gamble and afford to loss the resources. The problem is their addiction in the whole gambling game. These people are considered rich and they have gambled almost all of their resources with the hope of recovering what they loss in the process.

I just hope that people here learn from their lesson as they only regretted it once they have already lost everything. If one does not have the discipline to control their addiction, I highly suggest to seek help and support from your peers or family members.

[carlisle1]

the main thing is still:
not gambling more than one can afford to loose.

it's intresting to know about the greatest losers and all, but I'd be curious to know what was the % of the loss in relation to their total wealth.

keep it as less than 3% and it'll be much easier to survive.

To be honest, I think their mindset was clouded with bad judgement since they can gamble and afford to loss the resources. The problem is their addiction in the whole gambling game. These people are considered rich and they have gambled almost all of their resources with the hope of recovering what they loss in the process.

or maybe it is easy to say that they are really hooked in gambling or much called Addicted so they have no things in mind but to chase wins even the truth is only losses is what they got.

I just hope that people here learn from their lesson as they only regretted it once they have already lost everything. If one does not have the discipline to control their addiction, I highly suggest to seek help and support from your peers or family members.

maybe they will learn lesson if they already lose everything together with their family and people who loves them.
because if they can lose millions so what is the value of each person around them?

[traderethereum]

the main thing is still:
not gambling more than one can afford to loose.

it's intresting to know about the greatest losers and all, but I'd be curious to know what was the % of the loss in relation to their total wealth.

keep it as less than 3% and it'll be much easier to survive.

To be honest, I think their mindset was clouded with bad judgement since they can gamble and afford to loss the resources. The problem is their addiction in the whole gambling game. These people are considered rich and they have gambled almost all of their resources with the hope of recovering what they loss in the process.

I just hope that people here learn from their lesson as they only regretted it once they have already lost everything. If one does not have the discipline to control their addiction, I highly suggest to seek help and support from your peers or family members.

Their addiction will give them a problem in the future if they don't want to try to stop gambling.
I don't think that people are rich because I see that many people who don't have much money are still playing gambling, and many of them become addicted to gambling.
It is hard to help them solve their addicting, but we can avoid becoming addicted like them by always using limitation, controlling ourselves, and still staying calm.
We can not deny that the tempt of gambling, or the passion will become bigger, but if we have control, I am sure that we will be okay.

[glowing10]

Having a loss in gambling is a normal thing but not learning any lessons from it will make you lose more from gambling. Sometimes gamblers become greedy or sometimes emotions come into play which is the major cause of loses in gambling. Gamblers need to overcome these things as then only there will be more chances for the gamblers to win.

That's very true. Greed is often the reason for huge losses and only Self control can help us overcome greed.
Having self control is key a concept in gambling because that is what helps us control our losses.
Many gamblers are incapable of this and end up losing more than they could afford. It is the Greed that overcomes their capability.
I have myself encountered losses but I try to control myself from over gambling and this certainly helps me to limit my losses.

We all realize that the main cause of loss in gambling is greed, indeed the only way to prevent greed is self-control.
Without self control we can become greedy when playing gambling. Especially when we win in a row, this will lead to
the desire to continue playing gambling, which in the end we can lose all the profits that have been made. So we have
to be disciplined to control ourselves, do not greed over us. We must immediately stop playing gambling as soon as we
get a profit.

If someone just cannot control themself or lack the discipline they should stay away from gambling else it is going to be difficult for them because greed is something which cannot be control and in gambling everyone thinks it is a very quick way to make money from it. Which may become true for few people but not for all.

[pankowri]

Many believes that winning always favor the houses, but there's still many who believes that in a certain point and chance, they could take the win. There's nothing wrong with that, what is wrong is when we have a losing streak but still continues to play anyway.

Have you ever wonder what happens if someone bets a huge amound of fund, the same way as those who betted all in in a casino game then loses? This topic could help us understand why we should be disciplined enough, and why we should learn how to stop at certain point in gambling.

I've read this artcile What Happens to the Biggest Gambling Losers? stating some instances of biggest gambling losers.

10. Chun Lei "Samrostan" Zhu - Lost $15 million

lost about $15 million while he learned the ropes playing high stakes poker online.

There's nothing wrong about learning new a game or strategy, but be cautious and try to bet gradually.

9. Akio Kashiwagi - Lost $19 million

in 1992, he was found brutally murdered in his home near Mount Fuji, stabbed over 150 times.

Spending too much in a casino especially putting yourself into a huge debt from a variety of casino could risk even your life. Learn to bet an amount that you can afford to lose from your own pocket and do not risk funds that you aren't sure if you have the capacity to pay.

8. Gus Hansen - Lost $21.7 million

He has accrued $21.7 million in online poker losses at Full Tilt.

We all have our favorite casino and, online and physical casinos differ depending on how used we are to it. By changing our platform, this doesn't mean that we can apply our strategies and be wild in betting already. It's a new environment and it's better to start leaning again.

7. Kerry Packer - Lost $30 million

he would place enormous wagers on the roulette wheels of London’s Crockford’s casino, only to lose on all of them.

Despite of his huge loss in gambling sprees, Kerry Packer is known to still have huge assets and $30 million is just a small amount for him. This is the ideal gambler for me, since he know that he could still live in peace even if he lose a huge amount.

6. Michael Jordan - Lost $? million

he lost $2.5 million in six hours of playing blackjack. It is also rumored that his first retirement was actually a secret suspension from the NBA.

Knowing that we have a very popular image, becoming a gambler could impact how the way people see us in public. Perhaps, being a politician or a person who handles financial insitition could induce doubts for people to believe on us even if we really don't have an intention to gamble even a part of funds that doesn't belongs to us.

5. Archie Karas - Lost $40 million

In 2015, he was caught cheating at a San Diego-area casino, marking cards. He was also caught cheating by fixing chips

He was believed to turned $50 dollars into $40 million by playing poker. With years of playing, he lost it all and found out that he was cheating in casinos. There's nothing wrong with losing because there's always a time to stand up again and play. But there's no hope if we got banned from casinos through cheating.

4. John Daly - Lost $55 million

While he won an impressive $35 million, he lost and even more staggering $90 million, working out to a total loss of $55 million.

After losing, John Daly switched from $5000 slot machines to $25 ones. There's nothing wrong by playing in moderation, it means that we are learning from our mistakes and it is a way to stop the impact of a huge losing streak. Our goal in gambling is not just to be rich but to experience the fun in it. $25 slot machine is still a slot machine right?

3. Omar Siddiqui - Lost $121 million

Even as he earned $225,000 a year, he once lost $8 million in a day.

He played at the Venetian and MGM Grand while having a multi-million dollar debts from other casinos at the same time. It was also said that he used $65 million from his company in gambling. If we could think of a way to pay out debts, gambling is not the best idea, as it could put us down to deeper debt if we didn't succeed.

2. Zhenli Ye Gon - Lost $125 million

Between 2004 and 2007, Zhenli gambled away over $125 million – in cash. He was among the largest up-front cash-only players at the Venetian and in Las Vegas in general.

After losing $125 million in gambling, in 2007, Zhenli's home in mexico was raided and authorities found out a huge amount of drug money. It's a big learning for us to always use a clean money in gambling. That's why sometimes, casinos have bad images, since movies are showing big gamblers who gets their money from illegal activities.

1. Terrance Watanabe - Lost $127 million

Terry Watanabe said he bet more than $825 million, losing $127 million in Caesars Palace and The Rio casinos in 2007.

He was said to lose for about $5 million a day playing 24 hourse in casinos and with this, he was burried to dept. IMO, it impacts his health allot with the lifestyle he lived, that he got a cancer. As a gambler, we should take good care of ourselves and spend a most of our time than gambling. Money isn't always the solution for happiness, perhaps, bonding with our family is better and building memories with them are the treasure that we can keep forever.

I just wondered to see the stats of amount which they lost already. The one and only thing is greed which is responsible to loss everything. I believe that there are many people are involved for very much aggressive in nature in gambling and resulted to loss everything for their greediness. I am also a victim and I have lost small amount as considering with them the amount is nothing, lol

I have learnt a lesson already, if they can't understand then no way to teach them anymore. Aggressive nature is very much responsible for losing everything.

[erikoy]

If someone just cannot control themself or lack the discipline they should stay away from gambling else it is going to be difficult for them because greed is something which cannot be control and in gambling everyone thinks it is a very quick way to make money from it. Which may become true for few people but not for all.

Actually there is no need to get away from gambling just to avoid into gambling addiction. Gambling is one way to get involved in socializing, having fun and excitement and sometimes gaining profit.

The fun should not be avoided. The only to get out of gambling addiction ia to change mindset. A good mindset for gambling is that casino do always win in gambling. Gambling is just for leisure and socialization meeting new friends outside.

Do this mindset could apply to solve gambling addiction? I think so!

[Wexnident]

I'm actually amazed how much the first place lost so much. Must be possible due to him being rich, or him just selling his lungs, kidneys, or anything possible, and then just dying off, leaving his bets behind, though I'm more inclined to believe that he's actually rich. Still, up to him to lose so much, the fact that he could probably mean he could afford it though. I actually won't condemn people that gamble when they have the capability to do so, but if they don't, that's the moment that I'll actually judge them. It doesn't mean that I agree with them losing that much to gambling though.

Actually there is no need to get away from gambling just to avoid into gambling addiction. Gambling is one way to get involved in socializing, having fun and excitement and sometimes gaining profit.

The fun should not be avoided. The only to get out of gambling addiction ia to change mindset. A good mindset for gambling is that casino do always win in gambling. Gambling is just for leisure and socialization meeting new friends outside.

Do this mindset could apply to solve gambling addiction? I think so!

Having discipline and having fun are both prerequisites for you to actually enjoy gambling. It's like how needlessly having fun is wrong, and even if it does seem that you enjoy doing something, doing it excessively could ruin that same enjoyment you were feeling. 

[Lucasgabd]

the main thing is still:
not gambling more than one can afford to loose.

it's intresting to know about the greatest losers and all, but I'd be curious to know what was the % of the loss in relation to their total wealth.

keep it as less than 3% and it'll be much easier to survive.

To be honest, I think their mindset was clouded with bad judgement since they can gamble and afford to loss the resources. The problem is their addiction in the whole gambling game. These people are considered rich and they have gambled almost all of their resources with the hope of recovering what they loss in the process.

I just hope that people here learn from their lesson as they only regretted it once they have already lost everything. If one does not have the discipline to control their addiction, I highly suggest to seek help and support from your peers or family members.

totally
it's a lot more exciting to talk about total losses and big bets.
but not many are talking about dopamine addiction and how gambling can change neurotransmiter balance.

[Assface16678]

So far I'm not like those gamblers because I'm just a small-time gambler who would like to earn just a single penny and enjoy and make some enjoyment in gambling. I think they become a large earner so they already wage a large amount of money this kind of wage is just normal because you can't earn a large amount if you do not have wage a large value too.

I can't imagine if I was them, and probably I will never be them because never betting in high amount.
Here, I also wonder how they are thinking and doing after the loss? I know this is not my right to ask this.
It may be a nightmare or event a big shock for them. But it may mean nothing if they have won several times more than the amount.

Most of them are already having huge funds because of their business, but putting our selves to their shoes, we are also vulnerable to be attracted by gambling and its fortune. It Is just that most of us have a limited access to most of the gambling platforms in physical casinos especially right now, when we need to distance and limited our social interaction.

But wayback before, I think the peer pressure actually is the one pushes these gamblers to their position right now.

I can't even imagine how they can put a huge amount of bet in gambling. I can't even imagine also how did they cope up if ever they get lost all of that money they have. A fortune in gambling was definitely unpredictable and worst case scenerio was there is a high probability of losses than winning. But honestly speaking i bet those who are a risk taker yo put huge amount of bet in gambling can be classified as addicting in an instant money.

because they have too much money to spend in gambling simple as that,if they have no amount how could they afford to lose that huge amount?

what made me think is what happen to their family if they lose everything and even their businesses?
this is something only fool can do(my own opinion)because for me?i will never let my reputation and family at risk just because of gambling.

I think they are in a hard time into gambling and some of their family knew that they know this is the thing they could earn if that so I think it's nothing to worry about gambling because they are a large earner at the start and losing of money is part of the game.

[Question123]

Why they lost millions of dollars money is very important to our life and not unlimited because once a person did not know how his limitations or on how to spend his money they possible to lose it all. I hope they using their money for right thing because better to have plan on it I wiuld say that playing gambling is not good but in moderation just spend thousands dollars maximum is enough to fullfill their happiness because mostly rich people their reasons why they are playing gambling is to make happy or they enjoy playing. But it depends on them because they are using their own money not mine Im only giving my suggesstion of what is I think is good for them.

[ShowOff]

So far I'm not like those gamblers because I'm just a small-time gambler who would like to earn just a single penny and enjoy and make some enjoyment in gambling.

When you have made gambling a way to make money, then problems will soon come. You don't have to gamble to make money even in small amount. I knew that I had been gambling for years and it was because of money, and finally I had to realize that I was spending time and money just to make money. This is a big mistake in my gambling, and maybe I should change it for a better gambling experience.

Always pay attention to gambling problem that must be avoided and if they cant be controlled then I think we must immediately solve the problem with the help of others.

[hahay]

So far I'm not like those gamblers because I'm just a small-time gambler who would like to earn just a single penny and enjoy and make some enjoyment in gambling.

When you have made gambling a way to make money, then problems will soon come. You don't have to gamble to make money even in small amount. I knew that I had been gambling for years and it was because of money, and finally I had to realize that I was spending time and money just to make money. This is a big mistake in my gambling, and maybe I should change it for a better gambling experience.

Always pay attention to gambling problem that must be avoided and if they cant be controlled then I think we must immediately solve the problem with the help of others.

Every individual has a different personality because I personally always gamble to earn an income, but if I lose then I will stop. The long journey in gambling at least makes it easier for us to control ourselves or our emotions. Even though gambling is used as a source of income but if you have control, I think it will be fine for her life. Big losses in the past at least I will try to happen only once or twice in the gambling experience, then we don't need to make the same mistakes even though gambling continues to be an activity or habit in everyday life.

[palle11]

Why they lost millions of dollars money is very important to our life and not unlimited because once a person did not know how his limitations or on how to spend his money they possible to lose it all. I hope they using their money for right thing because better to have plan on it I wiuld say that playing gambling is not good but in moderation just spend thousands dollars maximum is enough to fullfill their happiness because mostly rich people their reasons why they are playing gambling is to make happy or they enjoy playing. But it depends on them because they are using their own money not mine Im only giving my suggesstion of what is I think is good for them.

Reading on the experiences is really eye opening. Although most gamblers have lost money in this but the rate of loses are different. If you are poor and you keep losing money, that will definitely affect one but if you are rich and you lose money very minimal to your wealth, well you may not feel it. It all depends on how much we lose anyway.

[Silberman]

the main thing is still:
not gambling more than one can afford to loose.

it's intresting to know about the greatest losers and all, but I'd be curious to know what was the % of the loss in relation to their total wealth.

keep it as less than 3% and it'll be much easier to survive.

In some cases the losses were above 100% as those people asked for loans to keep gambling basically ruining their lives in the process, however as you say everything needs to be put into perspective, if a person lost 30 million dollars on gambling that would seem like a huge amount to all of us but if that person had 3 billion dollars on wealth then that is just 1% of his total net worth and it is not cause for worry for him, but most likely it will still get him some bad press.

[Lucasgabd]

the main thing is still:
not gambling more than one can afford to loose.

it's intresting to know about the greatest losers and all, but I'd be curious to know what was the % of the loss in relation to their total wealth.

keep it as less than 3% and it'll be much easier to survive.

In some cases the losses were above 100% as those people asked for loans to keep gambling basically ruining their lives in the process, however as you say everything needs to be put into perspective, if a person lost 30 million dollars on gambling that would seem like a huge amount to all of us but if that person had 3 billion dollars on wealth then that is just 1% of his total net worth and it is not cause for worry for him, but most likely it will still get him some bad press.

yes, that's crazy.
dopamine addiction can be quite harmfull (of course it can be more than only that, but it's interesting to see how many people are not able to calculate risks of a choice and ruin themselves in the process)

[ShowOff]

yes, that's crazy.

There is too much gambling craze and it will not end. Victory, defeat, addiction, family problem, economy, bankruptcy, being laughed at, humiliated and these are the thing that stick to the gambler whose addiction has gone beyond normal limit.

Of course that is one of the gambling behavior that are considered bad by many people. I know that some highly addicted gambler will continue to gamble even on borrowed money. They borrow money and gamble with the aim of winning more money and covering previous losses. I think this is a misperception because if a gambler continues to chase wins to compensate for losses then I believe in the end it will only add to the losses.

[Eureka_07]

yes, that's crazy.

They borrow money and gamble with the aim of winning more money and covering previous losses. I think this is a misperception because if a gambler continues to chase wins to compensate for losses then I believe in the end it will only add to the losses.

It's fine chasing wins as long as you had managed your funds in most efficient, least risk, and much safer way.
You don't want to be bankrupted and lose all your fhnds just because you are chasing and hoping that ou will win in the next rounds.

Improper management of funds, as well as emotions, will most likely lead to bankruptcy.
Use the most successful strategy.

[Lucasgabd]

yes, that's crazy.

There is too much gambling craze and it will not end. Victory, defeat, addiction, family problem, economy, bankruptcy, being laughed at, humiliated and these are the thing that stick to the gambler whose addiction has gone beyond normal limit.

Of course that is one of the gambling behavior that are considered bad by many people. I know that some highly addicted gambler will continue to gamble even on borrowed money. They borrow money and gamble with the aim of winning more money and covering previous losses. I think this is a misperception because if a gambler continues to chase wins to compensate for losses then I believe in the end it will only add to the losses.

oh, I don't expect it to change at any time soon (if ever).
human nature.

we're not so different than 2,000 years ago.
we just have more technology.

<...>

<..>

It's fine chasing wins as long as you had managed your funds in most efficient, least risk, and much safer way.
You don't want to be bankrupted and lose all your fhnds just because you are chasing and hoping that ou will win in the next rounds.

Improper management of funds, as well as emotions, will most likely lead to bankruptcy.
Use the most successful strategy.

indeed:
learning about proper risk management is a must.
Can save you so much money.