Easy come easy go
A gambler named Archie Karas went to Vegas in 1992 with a mere $50 gambling budget. He managed to gamble it up to a whopping $40 million during the next two years which also involved borrowing a $10,000 loan. Unfortunately, that is not the end of a story with a happy ending because he ended up losing it all in only three weeks in 1995. His legendary winning streak is one of the most well-known ones in casino gambling history.
Cheung Tze-keung – China’s most notorious criminal loses big at a Macau casino
Cheung Tze-keung is known to have lost at least $23 million dollars in Macau resorts. Unfortunately, at times gambling and crime crosses path and in this case this couldn't be closer to the truth. Sadly, Tze-keung made a name for himself not only in casinos but but based on a chain of armed robberies and infamous kidnappings that made him hundreds of millions of dollars only to spend this money later in insane gambling sprees.
The notorious crime boss Cheung Tze-keung was also known as the gambler “Big Spender”. At one point he was planning on kidnapping one of Macau’s most prominent casino magnates, Stanley Ho which was fortunately stopped by the authorities.
Giant win and loss by a billionaire
Kerry Packer, an Australian billionaire (with a net worth of $6.5 billion) went to Las Vegas in 1997 and he ended up winning somewhere between $20 – 40 million dollars playing baccarat and blackjack. “Legend has it” that he tips a lucky doorman a sleek million $ but this rumor was never really confirmed.
His luck didn't last long as during another gambling trip in 1999 to London he lost an absolute crazy $28 million amount. The fact that he was already a billionaire, it probably didn't hurt him too much.
Huge slot win in Excalibur Vegas
An unknown 25 year old winner from Los Angeles – who later decided to keep his name in secret – hit the slot machines in Excalibur casino in Las Vegas in spring 2003. He only had a $100 gambling budget in his pocket and came to town with the intention of supporting his favorite basketball team. But that didn't stop him to visit a casino before the match and from stuffing the slot machines with coins until the most unexpected happened – a huge jackpot sign appeared displaying an enormous $39,713 982.25 on the screen.
This phenomenal amount was one of the biggest wins Vegas ever seen at the time. All we know about this guy that he was working as an engineer he went down in gambling history as the “young engineer.” who took Vegas for 40 million. He was very smart too as being aware how quickly one can impulsively spend an unexpected fortune asked the management of Excalibur not to give him the winnings all at once but to transfer to his bank account only approx. $1,500,000 every year each year.
How the founder of FedEx saved his company by playing blackjack
In the early days of FedEx in the 1970s's Fred Smith thought of a bold step and took of chance and used the company’s last $5,000 to gamble at the blackjack table. The company – who is today a multinational courier delivery service giant – was at the brink of bankruptcy due to the era's energy and fuel crisis which dramatically increased the shipment costs of FedEx. After filing crazy losses of over $1 million per month, the firm was fast nearing bankruptcy. It didn't help that the firm's investors decided to pull out their money which left the determined CEO without much options and made him take unexpected actions.
The courageous (and undoubtedly quite reckless) CEO decided to ride the bets and fortunately, he did well at the casino and walked away with a whopping $32,000 win. This was enough to save the business, and the rest is history. Present day, Fred Smith worth a personal fortune of $5.5 billion dollars.