Poker Over the decades, the great game of poker has made many poor people into millionaires while simultaneously costing others a big chunk of their wealth.
While most stories are either those of success or failure, there are also those who made big bucks in poker only to lose it all again and end up completely broke.
Whether it was going on tilt , playing too high stakes, or simply getting lucky to make the money in the first place, these are the stories of 10 poker players who lost all their fortune after winning it. 10. Archie Karas
Image: YouTube A living legend of the gambling world, Archie Karas made and lost more money playing poker and other gambling games than most people see in their lifetime.
After multiple unsuccessful gambling stints in his youth, Karas came to Las Vegas in 1992 with nothing but $50 in his pocket.
Having quickly lost the $50 he had, Karas took a loan for $10,000 from a friend who was also a gambler and just as quickly managed to turn it into $30,000.
And from there, he just kept going.
Between 1992 and 1995, Karas played poker for the highest stakes against anyone who would take him on, doing extremely well at different poker games and crushing his opponents.
By 1995, he was a legend in Vegas, having amassed around $40 million in winnings from his initial $10,000 stake.However, things would start going bad for “The Greek,” whose fortunes started to turn, mostly because he was no longer getting much action at the poker tables.As an action junkie he needed to play something, so he would hit the craps and baccarat tables and play for massive stakes.This is exactly where “The Run” finished, as he experienced two monumental losses at these games, giving back around $30 million of his total bankroll in just two nights.The massive downswing ended very soon for him, and he was reported to be completely broke after having been one of the biggest winners the city had seen up to that point in time.To this day, Archie Karas remains a fabled name in […]
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