Gambling, often, is no less than an adventure sport. It comes with its risks, thrill, and reward of success. Easily addictive, gambling can now be performed through online and brick-and-mortar casinos, especially post-pandemic.

Therefore, if you enjoy the thrill and probable winning returns of gambling, Online Casino in the Philippines is where you can try your luck. An online casino enables you to play from the comfort of your home and not have to drive miles and risk the chances of drunk driving while returning. Plus, there are no time restrictions.

However, it would be best to remember that gambling has an equal risk of losing money. Thus, gambling is best when you do it responsibly, putting a cap on the amount you plan to spend in a day.

Here are a few tales of triumph that will encourage you to play, followed by some of the biggest tragedies of casino losses – stories that ask you to be a responsible player and not grow addicted to the game.

The Biggest Casino Wins In History


With the high stakes gambling in casinos comes, winning is the thrill that makes everyone hold on to the edge of their seats. The more you bet, the larger the money you receive on winning.

Here are six such stories of people who had luck on their side and managed to turn their few bucks into millions through casino games.

1.   Archie Karas – $40 million

Archie Karas is probably the biggest winner in the history of casinos and a perfect example of how gambling can turn rags to riches. A well-known player, Archie Karas, managed to turn $50 into $40 million.

Since then, he has been nicknamed ‘the run’ in Las Vegas. This greek immigrant acquired his wins majorly through poker games.

2.   Peter – $38 Million

Peter, a 20-year-old Norwegian, is another winner of considerable money through gambling. But, makings things more interesting, Peter won $38 million through online casinos.

He won playing the slot game – Arabian Knights, which works on the principle of progressive jackpots.

3.   Kerry Packer – $30 million

This story isn’t an example of rags to riches since Kerry Packer was already a billionaire before his big win. However, Kerry had his luck on his side while playing at the Las Vegas casinos and managed to win $40 million.

He spent about $10 million on gambling further and tips and went home with $30 million. He majorly played blackjack and Baccarat that night, something he didn’t often try his hands on.

4.   Beverly Whitten – $3.7 Million


Beverly Whitten was a retired teacher who visited the Mountaineer Casino and Resort in West Virginia in 2006. She tried her luck on a slot machine and won $3.7 million in two hours of playing.

This was sure a quick way to earn a significant figure for a comfortable retirement, and she chose to take the payment in installments.

5.   Mike Ashley – $1.6 million

Another billionaire who gambled for fun, Mike Ashley, was playing roulette at the Fifty London Casino when he managed to win $1.6 million within 15 minutes of starting.

His win was on sheer luck, as he had a specific bet in his mind, lowering his probability of winning initially.

6.   Charlie Wells – $1 million

A popular name in the gambling industry, Charles De Ville Wells, is said to break the bank at the Monte Carlo Casino. While it cannot be assured that he did win for real, his name rose in the industry because he claimed to have a fool-proof system for winning.

He had taken a loan and played roulette for 11 hours straight, earning the loan amount 12 times during the same.

The Biggest Losses In History


While casinos are a great place to try your luck, you should be careful of how much you bet. These six tales of casino tragedies will open your mind and urge you to play safe and smart.

1.   Terrance Watanabe – $127 Million

The owner of the Oriental Trading Company, Terrance Watanabe, managed to sell his company only to focus on gambling games such as Baccarat and blackjack.

He went on a gambling spree in Las Vegas, with Caesar’s palace being the most frequent, and managed to lose $127 million. But unfortunately, he was not only a gambling addict but also consumed vast amounts of alcohol.

He still owes a considerable debt to the casinos, amounting to $15 million.

2.   Archie Karas: $40 Million

While his name is also one of the highest winners in gambling history, holding a record for the latest winning streak, he managed to lose the money he earned during his years of gambling.

What’s more interesting is he lost all of the money in just three weeks, with overconfidence to blame. For both his huge winnings and losses, Archie Karas will always be a popular name in the history of gambling.

3.   Charles Barkley – $30 Million


While Charles Barkley is not a gambling addict, he almost lost his fortune, losing $30 million while playing. He used to play at different casinos and tried different games just for the thrill, managing to lose his life-long earnings.

4.   Harry Kakavas – $20.5 Million

An Australian billionaire, Harry Kakavas, gambled about $1.43 billion and lost $20.5 million in two years at the Crown Casino, Melbourne. Kakavas was a pure gambling addict, even having spent jail time due to his gambling problems.

5.   Maureen O’Connor – $13 Million

The then-mayor of San Diego, Maureen O’Connor, lost $13 million due to her gambling habits. However, seeing that she gambled about $1 billion, the loss doesn’t seem huge.

She spent the money on video poker and even had to borrow from her husband’s charitable foundation at a point in time.

6.   William Lee Bergstrom – $1M

Popularly known as the Phantom Gambler or the Suitcase man, William gambled $777,000 in cash, an amount he had borrowed from a bank.

Initially, he won $1.5 million and a few small amounts through the years. Finally, however, in November 1984, his name was etched in the history of gambling after losing a million dollars in craps.

Three months later, he died in his hotel room due to a drug overdose.


With the stories and tales of the biggest wins and losses in the long-running history of gambling, it is clear that gambling is a risk-takers sport. While it gives the thrill of betting your hard-earned money in the hopes of returning with a profit, there are 50-50 chances you may lose them.

Therefore, it is best to cap the money you will play with and continue following the game, minimizing the risk of losing everything and living with the thrill.

I'm Jovica! While my academic background is in Agroeconomics, my interests extend far beyond. Digital marketing is an area that has captured my attention, leading me to contribute to various websites covering business, finance, and gaming topics. When I'm not immersed in writing, you'll likely find me outdoors, soaking in nature's beauty or catching up with friends over good conversations. And of course, my love for animals adds an extra layer of joy to my life.