Biggest Craps Winners In Vegas

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Anargyros Nicholas Karabourniotis^[2] (Greek: Ανάργυρος Καραβουρνιώτης, born November 1, 1950), commonly known as Archie Karas, is a Greek-Americangambler, high roller, poker player, and pool shark famous for the largest and longest documented winning streak in casino gambling history, simply known as The Run, when he drove to Las Vegas with $50 in December 1992 and then turned a $10,000 loan into more than $40 million by the beginning of 1995, only to lose it all later that year. Karas himself claims to have gambled with more money in casinos than anyone else in history^[3] and has often been compared to Nick the Greek, another high-stakes gambler of Greek origin.^[4]

Early life[edit]

Karas was born on November 1, 1950 in Antypata on the island of Cephalonia, Greece. He grew up in poverty and had to shoot marbles as a teenager to avoid going hungry. His father, Nickolas, was a construction worker who struggled financially.^[2]

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Karas ran away from home at the age of 15 after, in a rage, his father threw a shovel at him, barely missing his head. He never saw his father again. Nickolas died four years later.

Karas worked as a waiter on a ship, making $60 a month until the ship arrived at Portland, Oregon. He would later move to Los Angeles, where he would gamble his bankroll up to $2,000,000 before losing it playing high-stakes poker.^[2] Igra onlain besplatno.

Gambling career[edit]

He worked at a Los Angeles restaurant, which was next to a bowling alley and a pool hall. There he honed his pool skills and eventually made more money playing pool than he did as a waiter. When his victims from the pool hall thinned out, he went to Los Angeles card rooms to play poker. Karas claims to have gone from broke to millionaire and back several times. Later, he became an astute poker player, building his bankroll to over $2,000,000. Professional poker players such as Chip Reese and Doyle Brunson, had played and considered Karas a weaker poker player often giving Karas handicaps to play. In December 1992, Karas had lost all but $50 playing high-stakes poker. Instead of reevaluating his situation and slowing down, he decided to go to Las Vegas in search of bigger games. The next three years would go down in legend as the greatest run in casino gambling history.^[2] Golden nugget desktop site.

You've got to understand something. Money means nothing to me. I don't value it. I've had all the material things I could ever want. Everything. The things I want, money can't buy: health, freedom, love, happiness. I don't care about money, so I have no fear. I don't care if I lose it.^[3]

The Run[edit]

Karas' initial run lasted for six months when he drove to Las Vegas with $50 and turned a $10,000 loan into approximately $17 million playing poker and pool. In December 1992, after losing his entire bankroll, Karas drove to Vegas with his car and $50 in his wallet. After arriving at The Mirage, Karas recognized a fellow poker player from the Los Angeles scene and convinced him for a $10,000 loan. Karas quickly turned the loan into $30,000 playing $200/$400 limitRazz.^[3] Karas returned $20,000 to his backer, who was more than content.^[5]

With a little over $10,000 in his pocket, Karas went to a bar with a pool table adjacent from the Liberace Plaza on East Tropicana. There he found a wealthy and respected poker and pool player. Karas refused to reveal his name for the sake of his opponent's reputation; he simply referred to him as 'Mr. X'. They started playing 9-ball pool at $5,000 a game raising the stakes as games progressed. After Karas won several hundred thousand dollars, they raised the stakes to $40,000 a game. Many gamblers and professional poker players watched Archie play with stakes never seen before. Karas ended up winning $1,200,000. The two decided to play poker at Binion's Horseshoe where Karas won an additional $3,000,000 from Mr. X. Karas was willing to gamble everything he made and continued to raise the stakes to a level few dared to play at.^[6]

With a bankroll of $4 million, Karas gambled his bankroll up to $7 million after spending only three months in Vegas. By now, many poker players had heard of Mr. X's losses to Archie. Only the best players dared to challenge him. Karas sat at the Binion's Horseshoe's poker table with 5 of his 7 million dollars in front of him, waiting for any players willing to play for such stakes.^[7]

The first challenger was Stu Ungar, a three-time World Series of Poker champion widely regarded as one of the greatest Texas hold'em and gin rummy player of all time. Stu was backed by Lyle Berman, another professional poker player and business executive who co-founded Grand Casinos. Karas first beat Stu for $500,000 playing heads-up Razz. Karas then played Ungar in 7-card stud, which cost Ungar an additional $700,000.^[7] The next player was Chip Reese, widely regarded as the greatest cash game player. Reese claims that Karas beat him for more money than anyone else he ever played. After 25 games, Reese was down $2,022,000 playing $8,000/$16,000 limit.^[7]

Karas continued to beat many top players, from Puggy Pearson to Johnny Moss. Many top players would not play him simply because his stakes were too high. The only player to beat Karas in the first round during his run was Johnny Chan, who beat him for $900,000, though Chan did lose to Karas frequently, before and after the streak. By the end of his six-month-long winning streak, Karas had amassed more than $17 million. Karas said that Doyle Brunson was the only player able to win playing Razz during his winning streak.^[8]

The poker action for Karas mostly dried up due to his reputation and stakes. He turned to dice, for $100,000 per roll.^[4] Karas was allowed to make pass line and come bets of up to $300,000, but with no odds.^[9]Jack Binion capped Karas' buy bets on the 4 and 10 at $100,000. At one point, Binion raised Karas' 4 and 10 buy bet limit to $200,000. Karas quickly won $920,000 under these conditions; then Binion immediately lowered the limit back to $100,000.^[9] Karas said that he could quickly win $3 million on dice, while it would take days to weeks with poker. Karas stated, 'with each play I was making million-dollar decisions, I would have played even higher if they'd let me.'^[3]

Transporting money became a hassle for Karas, as he had several million dollars in his car every day. He carried a gun with him at all times and would often have his brother and casino security guards escort him. At one point, Karas had won all of the Binion's casino's $5000 chips, the highest denomination at the time.^[10] By the end of his winning streak, he had won over $40 million.^[11][12]

Downfall[edit]

Karas's odds-defying two-and-a-half-year streak came to an end in 1995 when he lost most of his money in a period of three weeks. He lost $11 million playing dice and then lost the $2 million he won from Chip Reese back to him. Following these losses, he switched to baccarat and lost another $17 million, for a total of $30 million. With approximately $12 million left and needing a break from gambling, he returned to Greece. When he came back to Las Vegas, he went back to the Horseshoe, shooting dice and playing baccarat at $300,000 per bet, and in less than a month, lost all but his last million.^[13]

With his last million, he went to the Bicycle Club and played Johnny Chan in a $1,000,000 freezeout match. This time, Chan was backed by Lyle Berman, and they took turns playing Karas. He preferred playing both of them, instead of just Chan, as he felt Chan was the tougher opponent. Karas won and doubled his money, only to lose it all at dice and baccarat, betting at the highest limits, in just a few days.^[13]

Mini-streaks[edit]

Since he lost his $40 million, he has gone on a few smaller streaks. Less than a year later, he turned $40,000 into $1,000,000 at the Desert Inn. He then went back to the Horseshoe and won an additional $4 million before losing it all the next day.

A few years later, Karas went on another streak at the Gold Strike Casino, 32 miles outside Las Vegas. He went with $1,800 and lost $1,600 until he was down to just $200. Then after getting something to eat, he decided to gamble the rest of it. He shot dice and ran his $200 into $9,700 and then headed to Las Vegas. He stopped at Fitzgeralds Casino & Hotel and won another $36,000, betting $1,000 with $2,000 odds. He went back to Binion's and won another $300,000 at the Horseshoe and by the third day, had won a total of $980,000 from a low of $200.^[14]

Personal life[edit]

Karas currently resides in Las Vegas. His family lives in Greece. Karas stays in touch with his family by phone, and tries to travel back to Greece at least once per year. He brought his mother, Mariana, to Las Vegas for six-month visits when he was on his winning streak.

Karas's story was documented in Cigar Aficionado by American author Michael Konik^[3] and also was featured, along with Stu Ungar, in an E! documentary special called THS Investigates: Vegas Winners & Losers.^[15] Konik also wrote an article about Karas which was featured in a book about Las Vegas gamblers called The Man With the $100,000 Breasts.^[4]

He was interviewed, along with poker player Tony G, by Tiffany Michelle during the 2008 World Series of Poker. He was also a featured player on ESPN's coverage of the 2008 WSOP.^[16]

Cheating[edit]

Karas was arrested on September 24, 2013 after being caught marking cards at a San Diego casino's blackjack table by the Barona Gaming Commission. He was arrested at his Las Vegas home and extradited to San Diego to face charges of burglary, winning by fraudulent means and cheating. He was found guilty and sentenced to three years probation.^[11]

See also[edit]

References[edit]

1. ^'Anargyros Nicholas Karabourniotis'. Nevada Gaming Control Board. Retrieved 2016-10-07.
2. ^ ^abcdTom Sexton (2008-02-11). 'Sexton's Corner, Vol. 31: Archie Karas, The World's Biggest Gambler'. Poker News. Archived from the original on 19 February 2009. Retrieved 2009-03-02.
3. ^ ^abcdeMichael Konik (2008). 'Tables of Dreams'. Cigar Aficionado. Archived from the original on 10 February 2009. Retrieved 2009-03-02.
4. ^ ^abcHoward Schwartz (2008-06-21). 'Archie Karas, The Greatest Gambler'. Poker Works. Archived from the original on 20 February 2009. Retrieved 2009-03-02.
5. ^Paul McGuire. 'The Return of Archie 'The Greek' Karas'. Bluff Magazine. Archived from the original on 2014-02-20.
6. ^Tom Sexton (2008-02-18). 'Sexton's Corner, Vol. 32'. Poker News. Retrieved 2009-03-02.
7. ^ ^abcTom Sexton (2008-02-25). 'Sexton's Corner, Vol. 33'. Poker News. Retrieved 2009-03-02.
8. ^Tom Sexton (2008-03-03). 'Sexton's Corner, Vol. 34'. Poker News. Retrieved 2009-03-02.
9. ^ ^abTom Sexton (2008-03-17). 'Sexton's Corner, Vol. 36'. Poker News. Retrieved 2014-03-10.
10. ^Tom Sexton (2008-03-10). 'Sexton's Corner, Vol. 35'. Poker News. Retrieved 2009-03-02.
11. ^ ^abEmma Lacey-Bordeaux (2013-09-29). 'Legendary gambler Archie Karas accused of marking cards in San Diego casino'. CNN. Retrieved 2014-03-10.
12. ^Tom Sexton (2008-04-14). 'Sexton's Corner, Vol. 40'. Poker News. Archived from the original on 15 April 2008. Retrieved 2009-03-02.
13. ^ ^abTom Sexton (2008-04-14). 'Sexton's Corner, Vol. 37'. Poker News. Archived from the original on 14 February 2009. Retrieved 2009-03-02.
14. ^Tom Sexton (2008-03-31). 'Sexton's Corner, Vol. 38'. Poker News. Archived from the original on 14 February 2009. Retrieved 2009-03-02.
15. ^Karas, Archie (2008-06-13). THS Investigates: Vegas Winners & Losers (documentary). USA: THS.
16. ^Archie Karas in 2008 WSOP on YouTube

External links[edit]

Craps Winners: A Spy's Casino Game of Choice?

Craps: it's not considered the most glamourous of casino games, is it? The less glitzy reputation is probably due to some unconscious revulsion at the name: 'Craps', who chose that name and why? Yep, you'll find Hollywood Blockbusters about Poker, but not about Craps…then again, there aren't any Blockbusters about Bingo either!

Sure, James Bond shoots some Craps in 'Diamonds are Forever' (and that isn't a euphemism – he actually plays Craps. He doesn't shoot some baddy called 'Craps'), but in general, it isn't considered a stylish game…

…that's a shame because if more people realised how big you can win at the Craps table, more people would play, and it's a fun game to play. It's one of the few casino games that has a complex set of rules, with interesting twists and turns. It's fun to watch and to play.

In Craps, you can get some long winning streaks (the longest we know of is 154 rolls, but more on that in a minute) and some huge profits. It really is surprising that we don't make more of a deal of it.

If you've never tried your hand at Craps before, then read on. Today, we're going to show you just how glamourous Craps can be – a millionaire's lifestyle is ready and waiting for the lucky players amongst you. Now, let's meet some of the luckiest Craps players…

Five Biggest Craps Winners

First up, we have Stanley Fujitake. In May 1989, Fujitake made more than $1,000,000 in 3 hours at the California Hotel and Casino, Las Vegas. What followed was the longest recorded Craps roll in history, at that time. He rolled 118 times before he passed the dice along. So legendary was this particular Craps session that a new name was born for the greatest players. Lucky Craps players are said to have the 'Golden Arm'. Today, the casino sees an average of one Golden Arm a month, and lucky winners get their name in 'The Golden Arm Club'. Fujitake received a Golden Arm no less than four times!

#2 Craps Winner

Twenty years later, in 2009, Patricia Demauro broke Fujitake's winning record. She now holds the record for longest ever Craps roll, at 154 rolls over 4 hours and 18 minutes. Much mystery surrounds this winning streak; Demauro won't say how much she won. It could have been anywhere from $500 to $5,000,000. Our guess is that it leans towards the heftier side. Otherwise, why keep it a secret?

#3 Craps Winner

Next, we meet 'The Phantom Gambler'. Why he received this nickname is unclear, because we know perfectly well who he is: William Lee Bergstrom. In the 1980s, at Horseshoe Casino, Las Vegas, he won more than $700K. He walked in with two suitcases, one empty, and one full of money – $770K according to reports – and gambled it all on a single Craps roll, winning a further $770K, which he then put in his empty suitcase. Over the course of the coming months, he did this twice more, winning first $190K and then $90K. Finally, he did what he'd set out to do all along, and bet $1m on a single Craps bet. You'll never guess what happened…

Biggest Craps Winners In Vegas Casinos

…he lost! Craps! Yep, he lost $1m and never recuperated that money. Unfortunately, in 1985 he committed suicide. He still had a lot of money in the bank at that time, so it's unlikely the two events were linked. Rok n rolla. Still, a warning to would-be big rollers out there: make sure you take risks you can afford to lose!

#4 Craps Winner

The following two stories are urban legends. According to one source, the biggest Craps win at Caesar Palace, Las Vegas is $2m, supposedly won by one of Hollywood's top executive. This guy was high rolling with working bets of $160K. That's all we know, but if a big Craps film comes out soon, I'm going to place a bet that this guy has something to do with it.

#5 Craps Winner

Finally, we have the tale of 'Mr Royalty' (a Bond name if ever we heard one!). According to Tom Breitling, former owner of The Golden Nugget, Las Vegas, a member of a royal family somewhere in Europe, won $4.7m over a six-hour period on the Craps tables, returning a week later to win a further $1.5m!

Craps isn't as flashy as some casino games, and the jackpots aren't as big, but one thing that makes it stand out is the secrecy. We hear urban legends, rumours of big wins, but only three or four verified wins. In all but name, it definitely is a game for secret agents like Bond.