From $50 into $40 million?

[Yaunfitda]

And what surprises you in this story? I have also read many similar stories and they all end almost the same. What happened in the end? The man lost all his money. There is nothing surprising about this. Gambling is such a thing that it is difficult to resist the temptation to go to the casino again. It is a shame only that this man did not buy anything for himself with this money, but could at least help those in need a little.

What is unusual in this story is that the player was able to make such huge money, 40 million, this is not one or two random wins, this is a story about a successful player who could win millions, and unfortunately, about the fact that he also lost tens of millions and could not stop. Apparently he thought that luck should return to him and he would start winning again, but luck can be fickle and perhaps the casino is also learning to adapt to players.

And that is the pure definition of gambling itself, gamblers didn't stop and wanted to stretch his luck and win more. It could be greed or the gambler wanted to really test himself against players and the casino itself and beating them. So there could be element of greediness as well. But remember that this is whale, big bettor so it's really hard for them to stop as they think that they can have all the money they want thru gambling. But for us average gamblers, winning in millions is one of our dreams and we could only hope that we can have this kind of incredible luck and win as big money as we wanted.

[bakasabo]

Imo this story should inspire people not to gamble, but instead pay more attention to learning self discipline or develop as a person. A perfect proof that greed and addiction lead to loosing money quickly. Or a proof that if person is unserious about something, he wont be able to keep it. We can only admire his high risk gambling, but a saying "Something is better than nothing" suits perfectly for this case. In fact, I rarely see gambling related stories that end well, so there is nothing much to be inspired about.

Maybe what happened to him is only luck 1 in 1000 gamblers, I think to achieve a win of $40 million with only 50$ is something very fantastic and will be difficult to achieve if he does not have continuous luck in the game he is playing, In my opinion, stories like this may actually be one of the allures for other people to gamble and hope to be lucky to win big prizes, but behind the story we should see the importance of financial management and self-control, especially in situations involving high risk such as gambling, although big wins can be very tempting, but without a clear strategy to manage these wins of course one can easily get stuck in a cycle of loss like Archie Karas, knowing when to stop and set limits in order with have a clear plan can help us prevent big loss like he experienced.

If we make a deeper search about his achievement, we can find out that $50 is the amount he had when he entered Las Vegas for the first time, however, he began to gamble with $10k he has received as a loan. Just to be clear, I dont think that a guy with only $50 is able to get a loan like that. I suppose he has got some assets. Anyway, road from $10k to $40kk looks amazing anyway. But totally not inspiring, because it might push people to start gambling career with a huge loan, which is a huge red flag and thing to do.

[SmartGold01]

Imo this story should inspire people not to gamble, but instead pay more attention to learning self discipline or develop as a person. A perfect proof that greed and addiction lead to loosing money quickly. Or a proof that if person is unserious about something, he wont be able to keep it. We can only admire his high risk gambling, but a saying "Something is better than nothing" suits perfectly for this case. In fact, I rarely see gambling related stories that end well, so there is nothing much to be inspired about.

Maybe what happened to him is only luck 1 in 1000 gamblers, I think to achieve a win of $40 million with only 50$ is something very fantastic and will be difficult to achieve if he does not have continuous luck in the game he is playing, In my opinion, stories like this may actually be one of the allures for other people to gamble and hope to be lucky to win big prizes, but behind the story we should see the importance of financial management and self-control, especially in situations involving high risk such as gambling, although big wins can be very tempting, but without a clear strategy to manage these wins of course one can easily get stuck in a cycle of loss like Archie Karas, knowing when to stop and set limits in order with have a clear plan can help us prevent big loss like he experienced.

If we make a deeper search about his achievement, we can find out that $50 is the amount he had when he entered Las Vegas for the first time, however, he began to gamble with $10k he has received as a loan. Just to be clear, I dont think that a guy with only $50 is able to get a loan like that. I suppose he has got some assets. Anyway, road from $10k to $40kk looks amazing anyway. But totally not inspiring, because it might push people to start gambling career with a huge loan, which is a huge red flag and thing to do.

Gambling is not a guarantee way to success and when it comes we should also make judicious use of the money, that why most people who gambles today are only gambling to double their money and not the fun, without knowing how much people has spent inside but didn't win as they expected. You know when we here some testimonies about gambling share on social media we would think is that easy for them to have got such winning, but if they tells you how much they had spent and wasted in gamble you wouldn't believe it. As a matter of fact some people went to the length of selling their valuables just to prove to double their winnings but still ends up losing all to the gambling site.

[eisen33]

Karas was a true gambler who never intended to stop. It's a pity that his path ended like this, if you believe what they say, then all he had left was his car, which means that he had come a long way to the top of success and then lost everything he had, I think a movie could be made about this man, I would watch it with pleasure. And maybe he was lucky that he ended his path without debts, because such gambling people often cannot stop and continue to play in debt.

[Mpamaegbu]

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

Archie Karas: Turning $50 into $40 million

A narrative like that where the subject/gambler later lost all the millions he won shouldn't inspire anyone. For me, if anything, it should even scare people into believing that no matter whatever one does as a gambler one would eventually lose. Again, those reading this post without going through the main article would think the win was recorded in a day. It wasn't. It's a series of wins accumulated over a long period of time from 1992 to 1995.

[Questat]

Karas was a true gambler who never intended to stop. It's a pity that his path ended like this, if you believe what they say, then all he had left was his car, which means that he had come a long way to the top of success and then lost everything he had, I think a movie could be made about this man, I would watch it with pleasure. And maybe he was lucky that he ended his path without debts, because such gambling people often cannot stop and continue to play in debt.

I hope he doesn’t have debts after going bankrupt, but I doubt it. Once you're a high roller, many financers are eager to lend you money. But I’m sure when he became a millionaire, he enjoyed it - like clubbing or other things gamblers do. So even if he lost it all, at least he got to experience being rich and popular, something most of us never will.

[TopTort777]

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

Archie Karas: Turning $50 into $40 million

A narrative like that where the subject/gambler later lost all the millions he won shouldn't inspire anyone. For me, if anything, it should even scare people into believing that no matter whatever one does as a gambler one would eventually lose. Again, those reading this post without going through the main article would think the win was recorded in a day. It wasn't. It's a series of wins accumulated over a long period of time from 1992 to 1995.

Yeah, people should pay attention to details and read article before making posts here. I am sure that many think that he went from 50 bucks to 40 millions in a single gambling session It took him months to turn 10k into first million while playing poker. And I would not be surprised if some of his opponents were rich newbies.

Btw, if someone is really good at poker, he can try to repeat Archie Karas result partly. With 10k buy-in, skills and luck, anyone can participate in World Series of Poker tournament, win it and earn several millions. This year, Jonathan Tamayo (reminder, buy-in is 10k only) won tournament and got 10 millions.

[Dewi Aries]

Yes, the point is self-control, that's what will make it easier for a gambler to make rational decisions in any situation, such as after successfully achieving victory.
Actually, greed is a choice, in the sense that you are free to apply greed but with the note that you must be able to accept whatever the results are, especially losing the amount of victory that you have previously obtained.

But yes, I am sure that it is not easy to accept a losing situation when you have previously succeeded in achieving victory, and this is why stopping and securing the money is always the recommended decision because that is the best way to minimize all unwanted possibilities.

Yes, having self control in gambling is a must so we can be wise when making a decision especially when we wins big money. We will not trying to chase the other winning but we will stop gambling and withdraw the money. We know that we don't have a big guarantee to win in the next rounds so we know what we need to do. We can also prevents the greed becomes bigger and stopping ourselves from gambling will be the best decision.

It is indeed not easy to accept the lose situation in gambling and that can attract us to use more money and try to wins. But when we know that will not be easy, we will not trying to keep playing gambling.

I think we have come to a conclusion regarding the reasons why self-control is something that is very important and mandatory for a gambler to have, although I understand that it is not as easy as it is said but of course it does not mean it is impossible, you can try to continue to restore your awareness regarding how gambling really is, especially the understanding as you have conveyed that there is no guarantee at all that the next result will be the same as the previous result, because only by understanding the dangers will self-control be easier or more possible to do and apply every time you run a session.

[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?

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.

This is an inspiring story for me, I do hear of several gamble lucks some persons has been able to achieve over awhile and this trust me is one very exciting one I have come across, before I forget let me quickly say banning Archie was one of the best things that could have happened to him, I mean what else can be done to such person to keep them in check because he was obviously becoming greedy and would get so addicted that he will become a problem,$40Million isn't a small money and some one won such amount and didn't retire, what else did he want, that's crazy, he's just a greedy folk and shouldn't be allowed to the casino ever again.

[serjent05]

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.

It is not a surprised that a $50 can win a gambler an amount worth millions.  Even smaller amount is able to make people hundreds of millions and we have seen it on news where an individual hit a lottery jackpot.  It is also possible for an individual to gradually grow his bankroll if he is able to control himself and implement self-discipline and know when to stop while winning.

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

It is not since we have read lots of news about people who hit big time in just a small amount of wager.

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

After hitting it big, the trouble with gamblers is financial management.  He failed to realized that it is difficult to repeat winnings and keep on pushing his luck but well we know what happened next, that he ends up with nothing.

[dezoel]

If I divide 50 dollar with 40 million, I got 800k as a result. So that was like 800kx (multi) which was a lot. I think the highest casino/slot game multiplier that I heard is only 300k. But at this point, I remember that some mines game before has an over a million multiplier. The odds of hitting them is still low though.

In sports betting using parlays, their multipliers can also go a long way but it can be ridiculous already seeing a lot of games/matches stacked in one betting slip and ends in a couple of months or even a year. Lottery must still have the highest odds among all, due to the amount of jackpot prizes they have.

I think luck can now matter the most here and not skills. It's not a mistake to say that all gamblers lose in the long run because that is how actually gambling platforms work. They have these so-called house edges that are responsible for it. Stories like this are inspiring and not inspiring at the same time because like I said earlier, it is hard to achieve the same result. We might only end up losing more and getting addicted if we imitate the same thing. It is sad to hear the plot twist of this story but what is more saddening is when was also banned by the casino. Damn!

[bakasabo]

If I divide 50 dollar with 40 million, I got 800k as a result. So that was like 800kx (multi) which was a lot. I think the highest casino/slot game multiplier that I heard is only 300k. But at this point, I remember that some mines game before has an over a million multiplier. The odds of hitting them is still low though.

In sports betting using parlays, their multipliers can also go a long way but it can be ridiculous already seeing a lot of games/matches stacked in one betting slip and ends in a couple of months or even a year. Lottery must still have the highest odds among all, due to the amount of jackpot prizes they have.

I think luck can now matter the most here and not skills. It's not a mistake to say that all gamblers lose in the long run because that is how actually gambling platforms work. They have these so-called house edges that are responsible for it. Stories like this are inspiring and not inspiring at the same time because like I said earlier, it is hard to achieve the same result. We might only end up losing more and getting addicted if we imitate the same thing. It is sad to hear the plot twist of this story but what is more saddening is when was also banned by the casino. Damn!

Just read the article. $50 is the amount he had in his pocket, but he has started gambling with $10k. Not to mention that he has earned those $40 during several years. Which makes it not even a 4000x multiplier. If he was gambling every day, then in theory, 40,000,000/10,000/365 ~ 11x daily. The multiplier like 11x looks more real than 800,000x. Since he was playing poker a lot, I guess he was more lucky in finding proper opponent, than being lucky in gambling.

[ethereumhunter]

I think we have come to a conclusion regarding the reasons why self-control is something that is very important and mandatory for a gambler to have, although I understand that it is not as easy as it is said but of course it does not mean it is impossible, you can try to continue to restore your awareness regarding how gambling really is, especially the understanding as you have conveyed that there is no guarantee at all that the next result will be the same as the previous result, because only by understanding the dangers will self-control be easier or more possible to do and apply every time you run a session.

If many more gamblers realize about the important thing to have self control, they will start to learn it from many sources. They don't want to spends too much money which can leads them to lose the most money. Even if learning self control will not be easy, they will still willing to learn it because they know that having self control will helps them to get out from the worst situation that can happens later. We will learn how to have a strong and good self control so we don't have to face a big lose because we can handle ourselves better.

[Dewi Aries]

I think we have come to a conclusion regarding the reasons why self-control is something that is very important and mandatory for a gambler to have, although I understand that it is not as easy as it is said but of course it does not mean it is impossible, you can try to continue to restore your awareness regarding how gambling really is, especially the understanding as you have conveyed that there is no guarantee at all that the next result will be the same as the previous result, because only by understanding the dangers will self-control be easier or more possible to do and apply every time you run a session.

If many more gamblers realize about the important thing to have self control, they will start to learn it from many sources. They don't want to spends too much money which can leads them to lose the most money. Even if learning self control will not be easy, they will still willing to learn it because they know that having self control will helps them to get out from the worst situation that can happens later. We will learn how to have a strong and good self control so we don't have to face a big lose because we can handle ourselves better.

What you said will only happen when a gambler has realized that the risks in gambling are very high, and that's why I said before that the main thing that a gambler must achieve is awareness of it, because when they realize that there is a potential risk that can endanger their lives in gambling, then they will definitely know what to do and prepare without having to learn it from various sources. There are several possibilities, between stopping completely (although it is unlikely) or improving their approach to gambling to be more minimal and measured, maybe I would say that I am one of them, in the sense that I managed to reach my level of awareness when the experience kept slapping me.

[LUCKMCFLY]

I do not doubt that these things can be possible, but this person who achieved it or was born well mad or simply blessed that day in a great way, but you have to have great luck, but that is something that is not seen or repeated every day, some people are very lucky, some people look for that luck and never get it , others unintentionally lose everything on that path, some their lives , but there is no denying that this is one of the cases that can happen in casinos and that it is very real , I believe in those cases, but I also believe that the things that happen like this are so that that person takes Advantage of that money and does not spend it or waste it.

[Fivestar4everMVP]

And what surprises you in this story? I have also read many similar stories and they all end almost the same. What happened in the end? The man lost all his money. There is nothing surprising about this. Gambling is such a thing that it is difficult to resist the temptation to go to the casino again. It is a shame only that this man did not buy anything for himself with this money, but could at least help those in need a little.

What is unusual in this story is that the player was able to make such huge money, 40 million, this is not one or two random wins, this is a story about a successful player who could win millions, and unfortunately, about the fact that he also lost tens of millions and could not stop. Apparently he thought that luck should return to him and he would start winning again, but luck can be fickle and perhaps the casino is also learning to adapt to players.

Well, like I've said in my previous comment, I do not believe that this story is true in one bit, and even if it's true, then know that that number or amount of money that the gambler was said to have won was highly inflated.

In all my years of gambling, I am yet to come across any game, whether it be sports, casinos or slot games, where it is possible for a gambler to play with just $50 and win $40 million dollars in return just like that.

And assuming this is even true, $40 million dollars is no small amount of money, the gambler who won and still ended up losing the whole amount back to the casino must be caused to have done that, but again, all this explains explicitly why this story or claim is untrue.

[Natalim]

I do not doubt that these things can be possible, but this person who achieved it or was born well mad or simply blessed that day in a great way, but you have to have great luck, but that is something that is not seen or repeated every day, some people are very lucky, some people look for that luck and never get it , others unintentionally lose everything on that path, some their lives , but there is no denying that this is one of the cases that can happen in casinos and that it is very real , I believe in those cases, but I also believe that the things that happen like this are so that that person takes Advantage of that money and does not spend it or waste it.

This success isn't based on luck. He started with $50 and turned it into millions, probably over the years. If it was just luck, it’d be short-term, like winning the lottery..that’s obviously luck. Here, he actually had a strategy. It’s just that, in the end, he still lost. You really need extreme discipline for this, stick to the winning method, even when you’re already in the millions. Don’t get greedy, because that’s what’s gonna mess up your strategy.

[ethereumhunter]

What you said will only happen when a gambler has realized that the risks in gambling are very high, and that's why I said before that the main thing that a gambler must achieve is awareness of it, because when they realize that there is a potential risk that can endanger their lives in gambling, then they will definitely know what to do and prepare without having to learn it from various sources. There are several possibilities, between stopping completely (although it is unlikely) or improving their approach to gambling to be more minimal and measured, maybe I would say that I am one of them, in the sense that I managed to reach my level of awareness when the experience kept slapping me.

The awareness of the risk of losing the money in playing gambling must be there so gamblers will not spend too much money and only use the money they can afford to lose. If they can aware of that, they will always be careful spends the money and will stop when they are almost reach the limit. They will not risk too much money in gambling and there is no need to try to increase their balance because that will not easy for them. The awareness like that will help them to be wise when playing gambling and not just follow their wanting to win the money especially if they already lose for some money. Maybe they can win the money but to still win from gambling, that will not easy as gambling is not a place to make money. They need to manage their money in gambling and don't have to achieve anything in gambling and consider that gambling is just a fun activity.

[Dewi Aries]

I do not doubt that these things can be possible, but this person who achieved it or was born well mad or simply blessed that day in a great way, but you have to have great luck, but that is something that is not seen or repeated every day, some people are very lucky, some people look for that luck and never get it , others unintentionally lose everything on that path, some their lives , but there is no denying that this is one of the cases that can happen in casinos and that it is very real , I believe in those cases, but I also believe that the things that happen like this are so that that person takes Advantage of that money and does not spend it or waste it.

This success isn't based on luck. He started with $50 and turned it into millions, probably over the years. If it was just luck, it’d be short-term, like winning the lottery..that’s obviously luck. Here, he actually had a strategy. It’s just that, in the end, he still lost. You really need extreme discipline for this, stick to the winning method, even when you’re already in the millions. Don’t get greedy, because that’s what’s gonna mess up your strategy.

Regardless of whether the results are obtained directly or in an instant with just one bet with a capital of $ 50 or the result of long-term accumulation as you mentioned I think we still can not exclude the role of luck in this case, because the point is if the result turns out to be a win then that means luck plays a role there, meaning luck is not always about success in getting a win with just one try.

I believe in something you suspect that it seems like the person has a strategy, but of course strategy is not a guarantee of victory but is nothing more than a tool to increase opportunities, meaning that winning in gambling is the result of a combination of strategy and luck especially when we talk about skill-based games.
On the other hand, yes I agree with your last idea that one of the reasons the person lost all his winnings again was because of the lack of discipline and management of decisions and finances.

[Zigabel]

It shows that making a fortune through gambling is possible if you have the skills.

Not skills but luck. Gambling is all about luck only. Skill is something that can be improved by practicing, but in the case of gambling, what matters is just good luck. Now this is just one story that you have heard on the internet. But have you heard the stories of other people who lost millions in gambling? No, right, this is because no news media covers the failure. This type of luck is only possible once in a million. So don’t get hopes and deposit a huge amount in the hope of making it big in a single night. Gamble responsibly by taking calculated risks.

Its becoming hard to get people to understanding that with gambling luck has got a really huge role probably because they are seeing around with punters and streamers showing some sort of system and strategies that is working for them and they get to win so they now see it as skills playing out the most for them and so most times you just need the skills and you will find yourself milking the casino but at some point t turns out for them that they later discover the hard way maybe the importance and place of luck been a sole point that can turn your gambling around and not just skills which does fail t some points.