For the vast majority of people that play at casinos either online or in the real world, when it comes to the size of the bet made, they tend to be low to medium stakes wagers. Some players may spend a bit more, but then there are those that for whom, betting eye-watering sums of money is routine.
Oddly enough, while it is tempting to think that is the multi-millionaires and billionaires that indulge in this kind of behavior, that is not always the case and some of the biggest bets ever placed at a casino have come from people, who are literally risking everything they have.
Now, we do nor recommend you head to PlaySugarHouse Casino and start placing bets that would see you lose everything! Far from it, but we do bring you interesting stories of some of the biggest bets ever made in this article.
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So it makes sense to begin with the man who literally did take the ultimate in biggest bets, if not in terms of monetary value, but in terms of how much of his own personal fortune he was willing to bet on the single spin of a roulette wheel.
Ashley Revell – Bet Everything On The Spin Of The Roulette Wheel!
What is remarkable about Ashley Revell’s story is not the size of the bet he placed in financial terms (it is dwarfed by some of the bigger value bets in this list), but the fact that the Brit was willing to bet literally everything he had on red on a single spin of a roulette wheel.
In the months leading up to his remarkable wager, Revell decided to sell every single possession he had. That included his house, car, personal possessions and even his clothes. By the end of the grand fire sale, Revell had nothing but $135,300 to his name.
Having agreed to make his spin of the reel at the Plaza Hotel and Casino in Las Vegas, who granted him special dispensation for the bet,
A TV crew filmed the spin for posterity as Revell initially struggled to decide which colour to back. In the end, he decided to place his entire fortune on red.
The wheel spun and the ball landed on 7 Red, earning Revell $270,600.
Revell has since begun a number of ventures in the gambling industry, with mixed success, but he remains famous as being the Brit who gambled everything he had, and won.
Floyd Mayweather’s Massive Sports Bets!
When you have a boxing career that is as bedecked with gold and success as Floyd Mayweather, then you are always going to be earning plenty of money. The undefeated multiple-weight World Champion may busy himself with some lucrative ‘exhibition’ bouts at the moment in his semi-retirement, but he does have another way to increase his vast fortune.
Mayweather is known as one of the biggest sports betting gamblers in the world, Mayweather may not back the longer odds bets too often, but instead he makes a healthy profit by placing huge bets on some shorter odds selections, which earn him a sizeable profit.
That was certainly the case in 2013 when he bet $5.9 million on the Miami Heat to beat the Indiana Pacers in the NBA, and while the Heat were the strong favorites and did indeed win the game, Mayweather walked away with $600,000 in profit.
He has reportedly placed many six figure wagers since then although the Moneymaker has won (and lost) through his gambling remains unknown!
The Sad Story Of The Phantom Gambler
Perhaps one of the best known gambling stories is the sad story of the Phantom Gambler. He first appeared in 1980, when he walked into a Las Vegas’ Binions Casino with a suitcase by his side. On opening it, he revealed that inside it was $770,000.
Furthermore, he wanted to bet the entire sum on the toss of a dice in a game of Craps.
He placed the bet, which at the time was the largest bet ever made in Las Vegas, and watched as the dice rolled in his favour. He picked up the huge stack of chips, cashed them out, placed the cash in the trunk of his car and drove away.
At the time nobody knew the Phantom Gambler’s identity, hence his nickname. However, four years later he revealed himself as William Lee Bergstrom and he was back at Binions Casino ready to make a second bet.
His second bet wasn’t quite as large, but was still $538,000. He once again placed it at the Craps table and once again saw the dice roll in his favor, He then collected his chips, cashed them all in once again and left the casino!
They say fortune favors the brave, but on this occasion that wasn’t the case. A few months after his second win, Bergstrom was back at Binions Casino, this time placing a $1,000,000 bet on craps. At the time, it was the largest bet ever accepted in Las Vegas Casinos.
Unfortunately, this time Bergstrom’s fortune ran out and his bet was a loser. A few months later, he was found dead, having committed suicide.
Archie Karas – The Run And The Stumble
As a youngster, Archie Karas came to the United States from Greece with hardly any cash in his pocket. He took a job in an LA restaurant, which was next to a bowling alley and pool hall. He honed his pool and poker skills to gamble and beat others.
After amassing a decent amount of money, believed to be around $2 million, he began to play high stakes poker and by December 1992, he had lost everything he had earned bar his final $50.
Not that Karas was deterred by this. He decided that the place to get back to winning was was Las Vegas and he headed to the City and over the next three years, went on what is believed to be the longest winning streak in Vegas history.
Karas used his $50 and a $10,000 loan to turn that investment into a $17 million playing poker and pool. Gamblers watched on shocked as Karas started to bet amounts of money that had previously never been wagered before.
Part of Karas huge swings in fortune was down to the fact he was willing to bet everything he made. He would regularly sit at the Binions Casino poker table with $5m of his $7m dollars in front of him, waiting for someone to turn up to play for unbelievably high stakes.
With Poker players refusing to play at the stakes Karas wanted, he would turn his attention to dice, playing craps for $100,000 per roll.. By the end of The Run, Karas had turned his $50 into $40 million.
However, it wasn’t all great news. Karas lost the $40m in the space of six months shortly thereafter.
Kerry Packer – $100m Bet That Never Was
Perhaps the biggest bet ever suggested, but not accepted at a casino, came when Australian billionaire media mogul Kerry Packer was playing in Las Vegas.
The story, which may or may not be true, says that a Texan multi-millionaire came into the casino and was boasting about his $100 million fortune, in an attempt to impress Packer.
The billionaire shrugged and said he would accept a wager for all the Texans $100 million on the toss of a coin.
Unsurprisingly, the Texan declined the offer to double his money!
Of course, responsible gambling is the key to enjoying any form of wagering and we would not recommend betting these amounts of money, unless of course your name is Jeff Bezos, Elon Musk or Bill Gates.
And even then, we’d advise them to think about it!