The biggest casino fiascos

Gambling often plays a cruel trick on casino-goers. In the pursuit of riches, they don’t think about spending and lose too much. Here are the top 5 gambling mishaps where people have lost a fortune.

Harry Cacavas and his billion

Harry Kakavas was a successful real estate trader. He was able to make a decent fortune in this field. It would be all right, but the Australian was addicted to gambling. Harry once left $164 million in the casino in just 5 hours. The average betting amount that night did not fall below $300,000.

Real estate income allowed Kakawasu to travel the world. In casinos in Macau, Singapore and Las Vegas, he lost hundreds of millions of greenbacks. As a result, the total amount of money spent in the gambling establishments exceeded $ 1.5 billion. On the big winnings of real estate agent history is silent.

Terry Watanabe and his disaster

One of the unluckiest people on the planet is Terry Watanabe. The casinos rejoiced when the poor man came to them to play. Terry was originally part of the founders of a company that sold souvenirs. His gambling addiction led him to sell part of the business. With the proceeds, he decided to gamble in casinos.

In 2007 alone, Watanabe squandered $120 million. The total loss of an American estimated at $250 million. Gambler could not stop. Even when he was losing a significant amount, he preferred to borrow from the institution. Harrys Casino said that 6% of its annual revenue came from Watanabe.

Kerry Parker and his spread

Professionally, Kerry Parker reached the top. He was one of Australia’s biggest media moguls. When he showed up at the casino, Parker was spending every penny he had. In three weeks, he lost over £3 million in slot machines. The story is telling when Kerry’s wallet became £15m thinner in one evening. He managed to lose such a substantial sum while playing roulette on four tables at once.

Fouad al-Zayad and his plane

Syrian millionaire Fouad al-Zayad only knew about casinos through hearsay. He must have cursed the day he found himself in London’s Aspinall’s gambling establishment on business. Here the investor got so into a rage that he lost $800,000 at roulette in a few minutes. All in all, he lost almost $4 million in an evening.

Fouad-al-Zayad did not draw the appropriate conclusions from the story. Moreover, he began to visit London more often in order to try his luck at local gambling establishments. The Syrian businessman once lost $16 million at the Ritz casino. For the debts, an international court ordered Fouad to give up his own Boing 747 aircraft.

Omar Siddiq and his prison sentence

Passion for gambling often leads to crime. Such was the case with Omar Siddiq, whose income did not exceed $225,000 a year. But even with such a modest salary he managed to squander $ 8 million in one night in the casino. On his 10th birthday, Siddiq accumulated $167 million in debts from gambling establishments. He intended to pay it off through a shady scheme to ship counterfeit equipment under the guise of certified goods. Police quickly uncovered the scheme, and the court sentenced Omar to 140 years in prison. In prison, the crook would have to work, contributing part of his salary towards his debts.

Some casino failures are epic in nature. In the thrall of excitement, people forget their modest incomes and go into debt. To avoid financial problems, you need to know when to stop.