The casino is not a charitable organisation, but a serious and flexible business. In gambling, everything is arranged in a way that people place large bets and leave big money in the casino hoping to win back.
Playing in a casino is also always a risk when players aim to feel excitement and have fun. In Las Vegas, Monte Carlo, Atlantic City, Macau, an enormous sum of money is lost every day. There are neither windows nor clocks in the casino — everything is done so that visitors are not distracted from the excitement and desire to «get» big money. However, some players find it difficult to perceive the game as just entertainment. They aren’t able to stop, and the size of the lost money sets up anti-records. Some players leave seven-, eight- and even nine-digit amounts.
Gambling enriches governors, drives millionaires crazy and gives last hope to the desperately poor people.
In this article, we’ll consider the most significant and epic losses in the casino’s history.
$ 205 million is thrown down the drain
The American businessman Terrence Watanabe can be doubtless loser in the gambling industry who lost a record $ 205 million per year and actually lived in a Las Vegas casino.
To cover a debt of almost $ 15 million with the unsufficient sum of money, he began to cheat with checks and risked going to prison for 28 years. He later sued the casino, claiming that the establishment’s staff deliberately influenced him, intoxicating with alcohol and psychotropic drugs. As much as 6% of Harrah’s total casino income is the amount left by Terrence Watanabe.
Kerry Parker as a desperate high roller
An Australian tycoon Kerry Parker knew how to win and lose large sums. At MGM casino, he managed to earn $ 30 million overnight. And in another casino in London, he spent around
$ 20 million overnight, and then left the gambling establishment being so calm air, as if nothing had happened. Such a loss went down in history as the biggest one. Excessive excitement and unwillingness to stop played a dirty joke with Kerry, so he became the owner of one casino by the end of his life.
Archie Karas is a man of legend
Greek player Archie Karas started playing with only $ 50 at the age of 19. In six months, he managed to become the owner of $ 17 million, and by early 1995 he managed to turn into
$ 40 million playing baccarat, billiards, dice and poker. Most of the experienced gamblers were afraid to play with him at the same table, being well-acquainted with his ability to table gambling. But in the end, baccarat played a tricky joke with him. By the middle of the same 1995, he lost almost everything in three weeks. At first, the loss was $ 20 million, and after another $ 17 million in dice. He became so addicted to gambling that he lost his great fortune in a few years. «You have to understand something» — he commented his game one time, «money means nothing for me. I had all the material benefits I could ever dream of. However, money cannot bring me what I really want — health, freedom, love, happiness. I don’t value money, so I’m not afraid to lose it».
A lost life
Gambling is also popular even among the discreet Japanese. In 1992, a major Japanese developer, Akio Kashiwagi, was considered one of the most addicted gambler. He set up the record for losses in baccarat. He gambled away around $ 10 million in one session at Trump Casino. Unfortunately, this story ended sadly — he wasn’t able to pay off the casino and was soon killed not far from his home.
Barefoot Joe’s Minute of Glory
Another story of an ordinary person who became a millionaire and lost everything during a short time. On April 2, 1995, a sluttish older man appeared at the Treasure Island casino’s doorstep in Las Vegas. He had some money — a Social Security Fund aid. The casino was surprised but let the unwanted guest come in. He was expected to lose fact his little money and leave the gambling institution. But the old man began to win, ignoring all blackjack strategies, and stayed for more than one day. He beat the casino by over 1 million dollars! The security service became interested in the lucky guest. The older man was dressed up, provided with security, an apartment, a limousine and made sure that he played only in same Treasure Island. The winnings ultimately remained in the casino! But before that, he lived the brightest week of his life and sold the rights to film his story for $ 10 000.
How does RevShare work in a casino?
There is such a thing as the Revenue Share payment model. Most often, RevShare is used in referral programs offered by online forex companies and various gambling establishments such as online casinos and bookmakers. The advertiser pays a percentage from the client’s profit all the time he makes bets. It’s highly important to understand that RevShare is not payments for deposits, but payments that depend on the gambling establishment’s net profit. If the attracted client will always win, and the casino will lose money on him, then the affiliate will also receive nothing.
For whom Revshare is beneficial? Revshare works in a long perspective. You need to understand that you invest money and won’t receive it immediately. However, receiving passive income for several months (and even years) compensate for all the investment and labour costs. It is profitable to convert into the Revshare if you have high-quality traffic — players should return to the casino nonstop, and won’t leave after the first deposit. This traffic is costly, so it is essential to have a «money supply» in this model to achieve ROI. On the contrary, traffic should be cheap — mass liking or another method that does not require large expenses.
And indeed the coolest thing that can happen when working with this model is to catch a high roller. There are cases when one gambler provided a profit source where he came from for many years.