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Biggest gambling losses in history

Feb 06,  · Whats your biggest gambling loss - Las Vegas Forum. United States ; Nevada The biggest losses I have witnessed though was a women throw $ on black. The 10 biggest gambling upsets in Super Bowl history, FOX and FOX Sports GO). No matter how you define NFL gambling upsets on the biggest Sunday of the. Some of the largest progressive jackpots in History is filled with not only the biggest He passed away in and despite his major gambling losses.

10 Crazy Huge Gambling Wins

Owing to some dark part of human nature most of us get more pleasure watching tragedy than triumph. He was the youngest person to represent Wales in national play. Prior to his stints at Caesars and the Rio, Watanabe said, he was banned from the Wynn casino by Steve Wynn himself when he was found gambling intoxicated there in Casino at Luxor Las Vegas. Wells was first and foremost a cheater. Legend has it that he personally forced the Aspinall Casino in London into bankruptcy by winning so much at the blackjack tables. Monorail, trams, buses and shuttles Transportation:

  Interesting Fact about casino

 

  •   All casinos are built on the principle of the most tangled labyrinths. In the gaming halls there are no direct passages. Because the longer a person walks along the aisles, the more likely that he will play in the meeting slot machines and gambling.
  •  The center of the casino is Las Vegas. Every year 40 million gambling people from all over the world come here.

Whats your biggest gambling loss - Las Vegas Forum

I don't think there is anybody on this planet who would like to break Terrence Watanabe's record of losing million dollars in one single year. The American businessman was a regular visitor at the Harrah's Entertainment casinos in Las Vegas and is still more than 14 million dollars behind with his payments, which means that he could even be facing 28 years in prison.

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The company's yearly income exceeded million dollars, when Terrence sold it to Brentwood Associates in Although the buying price has been undisclosed, it is highly probable that Watanabe received enough money to secure a wealthy life for all his descendants.

However, the 52 year old workaholic couldn't bear having free time and first became the prisoner of alcohol, and then got addicted to gambling. As he regularly did these two free-time activities at the same time, he started losing huge sums of money, which means that the most his descendants can inherit will be his huge debts. Watanabe's attorney attacks the casino's attitude, saying that his patient had intentionally been given prescription drugs and alcohol to keep him playing.

They targeted him and then took advantage of his vulnerabilities. He is the victim here. He also says that the greed shown by Harrah's Entertainment describes the whole gambling industry, which is negative advertising for the whole of Las Vegas. Watanabe used to play at the Wynn casino as well, but after the owner Steve Wynn came to the conclusion that he is an alcoholic and suffers from serious gambling addiction, he banned the businessman from his casino.

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Now, Harrah's and Watanabe are engaged in a complicated legal battle after Watanabe filed a civil suit in Clark County District Court last month claiming the casino was partly responsible for fueling his stunning streak by providing him free drinks and painkillers and allowing him to gamble when he was clearly intoxicated.

Watanabe was drinking "two to three bottles of vodka a day," all supplied by Harrah's employees, O'Donnell said. Watanabe, the former owner of popular mail-order retailer Oriental Trading Co. Watanabe's suit and letter to the commission were part of a legal strategy to get Harrah's to drop its charges against him, a spokesman for Harrah's said. Watanabe is "a criminal defendant who faces imprisonment for theft and writing bad checks," Harrah's Entertainment said in a statement to ABC News.

O'Donnell said his client paid the bulk of his gambling losses while he was still struggling with addiction. His sister eventually intervened and Watanabe went to rehab, O'Donnell said. And at the end of the day, he takes responsibility of his drinking and gambling problem," O'Donnell said, adding that Harrah's needs to take responsibility for encouraging Watanabe's addictions.

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Three personal concierge attendants served at his beckon call. Special vodka was imported from Russia by the case and served only to him, he said. It's no secret that Las Vegas offers generous VIP treatment to court what many in the industry refer to as "whales" -- extremely wealthy, high-roller patrons. And although Watanabe was as big a whale as they come, not all casinos wanted his business. Prior to his stints at Caesars and the Rio, Watanabe said, he was banned from the Wynn casino by Steve Wynn himself when he was found gambling intoxicated there in Ohio special election too close to call, GOP claims victory; Primary results come in.

Hurricane Hector bearing down on Hawaii. Heat continues on both coasts as fire conditions worsen in West. USC president steps down amid sexual abuse scandal. US braces for possible cyberattacks after Iran sanctions. Elon Musk and 'Space Force'. What you need to know to start your day. Major Portuguese wildfire defies attempts to halt it. Authorities searching for missing year-old last seen jogging. Gates admits using money embezzled from Manafort to fund extra-marital affair. Former Trump campaign aides set up foreign lobbying shop in Lewandowski's townhouse.

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Insurance is not a gambling

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Wrong, says Jason Murphy. Insurance is like a casino, where the house always wins, and always wins big. The reality is you probably pay far more into insurance over your life than you ever get out. Just like the casino, the house always wins. And they win big. The margins in insurance compare rather well to those at bookmaker Sportsbet, which are often around six per cent.

But the very idea of that makes some people very nervous. A bookmaker gives you the chance to get ahead. But an insurer gives you the chance to not fall behind. People have set up their lives around a certain house, a certain car, a certain income.

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If any of those are taken away, their life will be wrecked. Or so they believe. So they make a little bet. If bad luck conspires to burn down their house or steal their car, etc, they will get a payout. Gambling is seen as being for greedy people who want to get ahead, while insurance is seen as being for sensible people who want their lives to run smoothly.

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If you are not risk-averse, and you can take a bit of bad luck in your stride, there is no difference between gambling and insurance. But risk-aversion is different for different people at different amounts of money.

Most people are not risk averse for small amounts, but when it comes to big enough sums, we all start to get the fear. The insurance industry loves to put out press releases urgently warning Australians we are the most underinsured people in the world. Far too many of us are insuring against small events we could easily afford to cover ourselves. Have you ever bought the extended warranty on a product? Likewise, a lot of people have comprehensive insurance on cars they could actually afford to replace if stolen.

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