The Most Embarrassing Gambling Fails of All Time

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The most amazing stories of gambling hubris of all time, immortalized through their spectacular

failure. From the rich and unemployed betting their inheritance away to famous high-rollers

making unforgettable bets, these moments in gambling history have become immortalized in

Internet fame.

4. Crunch Time

A group of young men was challenged by an MTV reality show to meet the mark of “100 things

to do before you die.” One of the big items on the list was to earn a million dollars. There are a

lot of ways to earn $1 million in a lifetime, but the show didn’t last long enough to follow each

of the individuals through earning their doctorate and engineering degrees, so instead they

pooled all their money together and took it to the roulette table. All they needed was three

successful bets on near 50/50 odds, but after just two rounds, every penny was gone.

3. 2 Legit 2 Quit

A frequenter of Las Vegas casinos, a gambler named John Hennigan had a reputation for not

being able to walk away from a bet. His friends gave him a challenge: Stay in a remote area in

Des Moines for six weeks without gambling, and win big. He took the wager of $100,000 and

moved out into the wilderness, but was back in Las Vegas after just two days. Good on him for

not walking away from a challenge, but he could have used a follow-through.

2. What’s in a Name

During a historic horse race in 2011, a talented horse was assigned a mysterious 28/1 payoff. The

horse, named Voler La Vedette, was expected to win and spectators eagerly placed bets on the

horse and its ridiculous odds. Who would have guessed it, Voler La Vedette won. Unsure what

to do, Betfair refused to pay the winnings for the in-game bets, only honoring the bets from

before the race started, but that did not save it. Betfair took the hit, instantly losing £40 million,

or about $61 million.

1. Let it Go, Let it Go

Some players have $100 to set on the table. Archie Karas had $40 million. He lost it all in a

single bet, but even that wasn’t enough for him. Not ready to call it quits, Karas came back to the

baccarat table to lose another $30 million, $300,000 at a time. That’s about 100 bets if he lost

every one of them, but there’s no way someone has that poor of luck, right?

Well, that was embarrassing.

Hopefully you’ll be luckier than Archie was. Try your favourite games as Cool Cat Casino today!

 

 

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