From $50 into $40 million?

[aylabadia05]

Don't know if this story is inspiring? I don't think so, especially since she lost everything in the end.

No gambler can be inspired because we know they won't last long in the wealth won in gambling, it's certain that in the end he will lose again, maybe at that time he was lucky and skill played a little role in it, it's just that we don't know how that person played.

Even if he won a lot of money in gambling this would not be an inspiration to me.

It's not inspiring, but it can at least change a gambler's mindset about why they need to stop after getting what they want. But most gamblers think differently, I mean they continue to chase wins and try to collect as much money as possible even if as a result they lose everything.

One of the most inspiring stories is when someone wins a large amount of money from gambling, then they stop and develop a business properly. It's much better than continuing, but it's not as easy as it sounds.

[Fortify]

I’ve been reading stories about successful gamblers and thought I’d share this one- it’s truly impressive.

From $50 to $40 million - crazy, right? It shows that making a fortune through gambling is possible if you have the skills. It’s a mistake to think we’re all destined to lose in the long run.

What do you think about this? Isn’t it inspiring already?

There have been many tales of gamblers going on amazing runs at the casinos of Las Vegas. However, there may be none more staggering than that of famed punter Archie Karas.

Karas started ‘The Run’ with a mere $50 in his pocket and racked up more than $40 million in winnings. But that’s not where the story ends.

Remarkably, Karas then managed to lose it all and end up with nothing, before being banned from setting foot in a casino.

It is a feel good story, well - one with a bittersweet ending because he did not have enough self control or self awareness to cut his losses before crashing out. He must clearly have been a very talented poker player at one point in time and we've all seen the many large scale poker tournaments with massive winnings available to the top players in the world. There is a small degree of luck involved in the game, but it can usually be overcome by the pure talent and mathematical genius that lies behind the best players in the world. It feels that at some point he must have annoyed casinos majorly if he was to be banned from a bunch of them, because the house is taking rake from poker players with every hand so it usually makes little sense to ban them.

[Zigabel]

I’ve been reading stories about successful gamblers and thought I’d share this one- it’s truly impressive.

From $50 to $40 million - crazy, right? It shows that making a fortune through gambling is possible if you have the skills. It’s a mistake to think we’re all destined to lose in the long run.

What do you think about this? Isn’t it inspiring already?

Its possible you can make a fortune off gambling, but are you going to be able to have the discipline it will be required to grow the money to that amount but if it's a one time luck, you still could be able to win at once which is something that doesn't happen often, sometimes it happens once in a while so you can never be sure when it's going to be you just have to rather make sure you just keep trying but then what will be very applicable I the luck of which I even think it's same as in this case.

[Huppercase]

I’ve been reading stories about successful gamblers and thought I’d share this one- it’s truly impressive.

From $50 to $40 million - crazy, right? It shows that making a fortune through gambling is possible if you have the skills. It’s a mistake to think we’re all destined to lose in the long run.

What do you think about this? Isn’t it inspiring already?

There is a lesson learnt form here and that's greed of gamblers. Was he expecting the casino to be in his favour forever or he thinks the casino was happy when the numbers were going up. I'm very sure that somebody would be sack if that guy definitely went home with that amount of money. I bet he forgot that even the casino sometimes cheat players so they don't go bankrupt and fold up when a stranger want to take all of their money away.

What happened to quiting at the $40m, why not bet low amount and risk the little or when you know it's not in your favour again, that should give a red flag and leave immediately but he didn't stop their, I think God gave him an opportunity to make a life changing opportunity but he was blind by his greed and throw that away to casino and I'm sure the manager will be the happiest for his loss because what! $50 is too low to win that amount, the company will feel the pain.

[Felicity_Tide]

I’ve been reading stories about successful gamblers and thought I’d share this one- it’s truly impressive.

From $50 to $40 million - crazy, right? It shows that making a fortune through gambling is possible if you have the skills. It’s a mistake to think we’re all destined to lose in the long run.

What do you think about this? Isn’t it inspiring already?

Archie Karas: Turning $50 into $40 million

There have been many tales of gamblers going on amazing runs at the casinos of Las Vegas. However, there may be none more staggering than that of famed punter Archie Karas.

Karas started ‘The Run’ with a mere $50 in his pocket and racked up more than $40 million in winnings. But that’s not where the story ends.

Remarkably, Karas then managed to lose it all and end up with nothing, before being banned from setting foot in a casino.

I read through the story, and I must say that I'm truly impressed of how someone could just turn $50 to $40M in a space of 3 years. The truth is, luck like this does not occur often. There is probably 1 in a million people that might find themselves in this winning situation. Seeing someone who can win like this doesn't necessarily mean that the person can do that because he/she is very skillful. I feel there is a passion for it as well.

But it seems you (@OP) didn't want to discuss the part where he lost everything as well. Quite a disappointing story that was interesting at first.

[Hispo]

...

Heh, a pretty big difference, actually the news itself makes more sense once you know about those little details which sometimes get omitted when people share it on social media. At first I thought the only way for someone to legitimately win those millions of dollars was to play lottery, then someone in this thread mentioned the guy in question earned that money by playing cards, so I felt something was off with the whole story and the alledged skills this guy had for him to make millions and then lose them in the single session.
Anyways, when comes to card games there will be always be cheaters and scammers, beside actually people who are pretty much at playing, but going from a thousand of bucks up to forty million should raise a red flag to anyone who may have watched from the outside. Nobody is that consistently lucky, not matter how good one is at reading body language and deceit in poker.

[Raflesia]

Although it is a very good thing and indeed a thing that may even be difficult to follow but honestly I don't feel inspired at all by the winning and doubling done by this gambler because there are some things that are contrary to my vision of playing gambling.
In the article you embedded, it is explained that even though he only had $50 in capital but in the end he started gambling by borrowing about $10k for the first bet in his gambling journey.

Obviously this is contrary to what I believe in because I always avoid hot money such as loans or money that will be used for living needs in playing gambling. In addition, I also highlighted the large bets at one time which is also against my principles in gambling so even if it's a big win I don't feel inspired by this.

I am also not impressed by gambler success even though they won a lot. Way they started by borrowing $10,000 to bet when they only had $50 worries me. This goes against what I believe is responsible gambling. I think people should avoid borrowing money to gamble and never use money they need for important things. Also gambler made very big bets without thinking carefully which is not smart. Because of this I do not admire their approach even though they won a lot. Their way of gambling is too risky for me.

Because in the end, if we look further, this is an extreme way to make a big gamble but have no money to play with, even though in this step he profited very much and indeed it was very good, but it did not hide the fact that he was too brave to do it because if the conditions were reversed and he lost the bet with the borrowed money he had, it would only make him worse.

I personally would not say that this is wrong because all must have their own considerations to do but on the other hand if indeed I am faced with the same conditions then surely I will think several times to do this even maybe my decision remains the same where I do not want to do gambling by borrowing money or using other people's money because it is a very big gamble and I do not want to use this scheme for gambling in my life.

[Knight Hider]

Know when to stop. He should have retired with 20 million.

[liuka]

I’ve been reading stories about successful gamblers and thought I’d share this one- it’s truly impressive.

From $50 to $40 million - crazy, right? It shows that making a fortune through gambling is possible if you have the skills. It’s a mistake to think we’re all destined to lose in the long run.

What do you think about this? Isn’t it inspiring already?

Archie Karas: Turning $50 into $40 million

There have been many tales of gamblers going on amazing runs at the casinos of Las Vegas. However, there may be none more staggering than that of famed punter Archie Karas.

Karas started ‘The Run’ with a mere $50 in his pocket and racked up more than $40 million in winnings. But that’s not where the story ends.

Remarkably, Karas then managed to lose it all and end up with nothing, before being banned from setting foot in a casino.

I think the big wins that people out there get are their luck. Because I believe that slot games are very difficult to predict, sometimes when we buy FS where the contents are empty or the payout is very small, but when we find FS manually without buying where the payout is quite large or we get a big multiplier. Therefore it is very difficult to guess slot games but big wins from $50 to $40 million are extraordinary and become a big motivation especially for me.

I believe that sometimes people are too greedy in gambling so they lose control when they have won, I think the winner who won the big win of $40 million did not play in one day but spent a lot of time playing slots in other words, many wins max win in each game. On the other hand, I think fate does not exist in slot games because losing today does not necessarily mean losing tomorrow or winning the next day. So playing more actively opens up opportunities to reach the level of victory and I often feel that.

[Odusko]

Skills can be defined as what you can apply to arrive at a successful ending on a repeatedly level, and for that if you mentioned skills in gambling, it may likely mean that you don't really know what gambling is all about because there is nothing like skills in gambling since at that end you have to rely on your luck to win, so for that we should focus more on which kind of game and what the nature of the prize that arrive you at a position that you feel that you can repeat such wins.

Most times, what make you to think that turning a $50 gambling budget into 40million is based on the gambler spending that money on a jackpot tickets which means you risk all for possible life changing prize, but if you used such money to Play gambling game's, how long do you think you have to wager with that amount to win such a huge amount of money, so we need to put all of this onto consideration before making any decisions.

Successful gamblers will always tell you that, to become that successful, you have to go through alot of risks and loses before you can achieve success a success on the long run.

[Orpichukwu]

I can attest to this news referring to my experience.
When I began online gambling, deposited $15 to my sportybet account and I had this whisper that if I can afford to gamble without greeds, no excessive risks and no staking of high amounts, the $15 can actually yield a huge amount of profits for me.

I was determines by this aspiration which it was actually working out for me as I was able to generate about $500.
I decided make to make a dime withdrawal from the account not until I hits $1K but then on a long run I lost it all.

This has always been the result of those who gamble with greed at the back of their minds; they always feel like they are in total control of what the result of the game will end up to be, which makes them instead of withdrawing from the little profit that has been achieved, they always end up losing it all. If you were not greedy much, you could have been able to go back home with the first $500 you made from your $15.

[Ozymon]

I’ve been reading stories about successful gamblers and thought I’d share this one- it’s truly impressive.

From $50 to $40 million - crazy, right? It shows that making a fortune through gambling is possible if you have the skills. It’s a mistake to think we’re all destined to lose in the long run.

What do you think about this? Isn’t it inspiring already?

Archie Karas: Turning $50 into $40 million

There have been many tales of gamblers going on amazing runs at the casinos of Las Vegas. However, there may be none more staggering than that of famed punter Archie Karas.

Karas started ‘The Run’ with a mere $50 in his pocket and racked up more than $40 million in winnings. But that’s not where the story ends.

Remarkably, Karas then managed to lose it all and end up with nothing, before being banned from setting foot in a casino.

Yeah, maybe it's a good factor in luck. But, one thing we should know is the possibility of winning that is almost impossible.

But, it doesn't mean that one of us couldn't win it. Because recently, the same thing happened to my friend. Believe it or not, he turned the little amount of his bankroll $0.05 into $5000. As I mentioned before, it's all about a luck, because we know that we couldn't find it easily, so we shouldn't try to search or get the "Impossible thing". And you ought to play gambling in your consideration of Limitation and Responsibility.

[Tmoonz]

The key takeaway from the story for me is that Archie played to his strength. He didn't gamble randomly. He knew what he wanted from the onset and went after it.

Over the years he’d developed a keen eye for games that he felt he had an edge. He spent a fair bit of time scouting opportunities around Las Vegas. In doing so, he came across two businessmen who regularly bet big numbers on 9-ball pool.

He focused on games where he knew he had an edge. Another part of the story which is common for all is that there must be losses and it is part of the game.

Lastly, he took a loan. I wonder what gave him that confidence to take out a loan from a friend to gamble breaking the rule of gambling with only money you can afford to lose.

I'm summary, have a purpose for why you gamble and know when to call it quits.

There is possibility that he knew the best and sure ways of repaying the loan in the case of things not ending well, which would have increased his confidence about taken a loan, indeed it is a higher risk that is not always encouraged, it is very wrong for any one borrowing to gamble because there is no guarantee that what is called a skill in gamble is enough to secure a winning line, we should all be aware that what works for A may not rightly work for B, I really frown at any discussion about borrowing to gamble as it may be misleading to some people who may feel that they can borrow to gamble and get away with it.

[Akbarkoe]

I’ve been reading stories about successful gamblers and thought I’d share this one- it’s truly impressive.

From $50 to $40 million - crazy, right? It shows that making a fortune through gambling is possible if you have the skills. It’s a mistake to think we’re all destined to lose in the long run.

What do you think about this? Isn’t it inspiring already?

Its possible you can make a fortune off gambling, but are you going to be able to have the discipline it will be required to grow the money to that amount but if it's a one time luck, you still could be able to win at once which is something that doesn't happen often, sometimes it happens once in a while so you can never be sure when it's going to be you just have to rather make sure you just keep trying but then what will be very applicable I the luck of which I even think it's same as in this case.

Luck is always the main thing in winning big at the casino, and what's even more difficult is that we can't invite luck to be on our side, we can only try and try to have a glimmer of hope in gambling to get a win so not many people can be lucky.

And what is even more annoying is when we get lucky once but the desire to get more to get crazier when the victory occurs and it sometimes eats up what we have won before and lose everything that has been won, the luckier person is when they can withdraw their big winnings and enjoy it, but such events are rare, most of those who win they return it to the casino.

[tvplus006]

What do you think about this? Isn’t it inspiring already?..

Such success stories have always been and will always be, because without them it is impossible to develop the gambling business. It is such stories that make many people risk their last money in order to become a millionaire in an instant.

[mv1986]

I’ve been reading stories about successful gamblers and thought I’d share this one- it’s truly impressive.

From $50 to $40 million - crazy, right? It shows that making a fortune through gambling is possible if you have the skills. It’s a mistake to think we’re all destined to lose in the long run.

What do you think about this? Isn’t it inspiring already?

Archie Karas: Turning $50 into $40 million

There have been many tales of gamblers going on amazing runs at the casinos of Las Vegas. However, there may be none more staggering than that of famed punter Archie Karas.

Karas started ‘The Run’ with a mere $50 in his pocket and racked up more than $40 million in winnings. But that’s not where the story ends.

Remarkably, Karas then managed to lose it all and end up with nothing, before being banned from setting foot in a casino.

I think the problem about your post is that you argue a true a point without providing probabilities. Can someone win the lottery? Yes, everyone theoretically can win the lottery if they buy tickets. Can someone become a millionaire in gambling and make it look as if it was all skill? Yes, and my best example would be Jamie Gold when a long time ago he won the World Series of Poker but he played absolutely horribly. Really bad calls, really really bad and yet he won because it is still a game of chance to a large degree.

These stories are called a tale for a reason and if we now put it as a general rule of thumb that everyone can do it, are we doing any player a favor or the casinos? I think everyone here agrees that the chance of turning 50 bucks into 40 million is extremely close to zero because even with skill, the chance to get a bad beat and destroy your tiny bankroll all the way up to those 40 million is far higher than actually making it to those 40 million.

I don't like stories like these because eventually, nobody can really prove what really happened. It is easy to tell all these things and make it look as if it were true, but definite proof is impossible to be brought by. You can either believe it, or you don't. I am skeptical and unless you know how to use forbidden tactics, I don't think it would be possible these days. Everything is algorithmic in online casinos and supervised in the physical casinos and unless there is an exploit, I doubt you will hear anytime soon that someone else did the same and turned 50 bucks into 40 million.

[FinneysTrueVision]

It’s inspiring up to the point where he loses it all. He also received a $10,000 loan so he didn’t actually turn $50 into $40 million. Who knows what else was left out of this sensationalist story. The lesson to be learned is to quit when you are ahead. That is hard to do because in order to make millions from gambling you have to be willing to expose yourself to risk.

[Oasisman]

From $50 to $40 million - crazy, right? It shows that making a fortune through gambling is possible if you have the skills. It’s a mistake to think we’re all destined to lose in the long run.

What do you think about this? Isn’t it inspiring already?

Making fortune in gambling, yeah it is possible, nobody said it isn't. However, the question is, are you willing to take the risk in what little chances you got. And, no, it is not a mistake when somebody said we are destined to lose eventually, because that's how the casinos are built.
It may not be applicable for everyone, but for the majority, it will always be the case.
How many people have won that big? I think it's 1:1000 ration? It may look inspiring, but not until you drain out your pocket lol. These making of fortune through gambling stories is not inspiring, they are trap lol.

[PX-Z]

Karas started ‘The Run’ with a mere $50 in his pocket and racked up more than $40 million in winnings. But that’s not where the story ends.

Remarkably, Karas then managed to lose it all and end up with nothing, before being banned from setting foot in a casino.

I can't help but laugh. Why he do that, $40m is so huge that you can at least spare a little for yourself, well at least a $1m. Greediness really works something to human's mind to get more even it already has much as that.

Now if there's no news about this, no one will believe the story from that man.

[lovesmayfamilis]

It is these isolated success stories, if you consider only the winnings, that have made hundreds of unhappy people either suicides or complete bankruptcies. There are many things to be inspired by, like how people achieve their goals, get an education, and regularly rise higher and higher in their social ladder, but not where there is an element of chance or luck. How many people on this forum accept gambling as a way to earn money? I see many, but how many of them always remain in the black? Not at all. Earning means that you do not lose, but only increase your capital. From the OP's story, I do not see an example to follow.