Worst Vegas Losers In History Spotlighted

win cashHe was nicknamed “the Greek” in his hometown of Las Vegas, but others call Nick Dandolos one of the biggest poker playing losers in Vegas history after dropping more than £400 million during his lifetime. When it comes to others rated as the worst Vegas losers in history, the verdict is still out on who is at the top of this unenviable list, states the Las Vegas chamber of commerce website. For instance, the late Australian businessman Kerry Packer not only lost “millions” at Vegas casinos but dropped a whopping £22 million during a gambling spree at a popular London casino in 1999.

Big gaming losers remembered

The gamblers who visit Caesar Palace Casino in Vegas might catch the name Terrance Watanabe when visits the black jack tables because Watanabe’s claim to fame is having one of the biggest overall losing streaks in Vegas history. According to the city’s website, Watanabe dropped nearly £120 million during two decades of regular gambling in this desert casino mecca. Meanwhile, professional basketball player Allan Iverson is said to have dropped a cool £180 million while gambling at local casinos. The basketball star is considered to be the top sports personality to lose this big in the city’s history.

Foreign gamblers lose big in Vegas

He was nicknamed “Mr. Ye” in trendy Vegas hotel-casinos because Zhenli Ye Gon bet big and lost big before being set to jail for drug trafficking. Gon dropped more than £190 million on local crap tables before the jig was up, and he was sent to prison, states a fact sheet about the region’s biggest gambling losers. At the same time, another Asian big roller named Akio Kashiwagi earned the title “world’s biggest gambler” after taking his Japanese property development earnings, and losing a whopping £8 million back in 1992 at the popular Trump Plaza Casino.

At the same time, a Syrian businessman named Fouad al-Zayat lost a massive £44 million during a dozen years of “very hard gambling” in Vegas. In turn, al-Zayat is said to have also lost a Rolls-Royce, a Boeing 747 jet and a £3.5 million “bad check” while taking a break from Vegas and still owing a London casino that £3.5 to cover his bad check. Meanwhile, the famed Greek tycoon Frank Sarakakis is said to have lost £14 million playing roulette. Sarakakis also is credited for losing a quick £2.5 million with a “side bet” during a Vegas poker tournament.

Big losers become legends

It is a heck of a thing to become famous or even infamous for losing one’s shirt at the desert casinos. Still, this is what happened to Archie Karas, who was nicknamed “the greatest gambler of all time,” according to an exhibit at Caesar’s Palace Casino in Las Vegas. Karas earned the title after breaking a £10 million losing streak by winning a massive £45 million in 1992. Karas followed that up by hitting £38 million in 1995, but then fading away after losing “it all one year later,” states the gambling exhibit.

Another big money win and Vegas gambling loser was Omar Siddiqui who lost “an average of £7 million in a day” at the height of his gambling streak. Siddiqui is no serving time in a Nevada jail for fraud, states a local newspaper. Also, Stu Ungar once held the title as the “greatest gin rummy player of all time,” before he dropped an estimated £28 million playing rummy and poker at various local casinos. When Ungar died of a heart attack, his friends had to take up a collection to cover his funeral services. As with most high rollers in Vegas, they usually fold and die broke.win cash