You’ve probably heard about the expression “break the bank,” but have you ever heard of someone who has bankrupted a casino? Considering the fact gambling venues have a built-in advantage over players, it seems almost impossible for the operator to go out of the business. Or is it?
As unlikely as it seems, casinos do go broke. What lies behind this anomaly? Is it bad management or, indeed, players who got so lucky and “closed” the casinos doors for good? Unfortunately, there are no records of lucky punters who have been fortunate enough to ask for the key of the gambling establishment. Yet, some casinos are no longer with us due to different circumstances.
However, history remembers a few players who got away with incredible amounts of money. Hence, before you start playing at online casinos, stop for a second and remember these modern heroes. They are proof of what happens when Lady Luck and knowledge work together.
The Atlantic City Scenario
There are numerous reasons why some gambling businesses collapse. One of the main reasons is terrible management. Simply put, a group of people makes all the wrong decisions at the worst moment, leading to disaster. Of course, some social and economic factors can put establishments out of business, too.
Surprisingly, in 2004, Donald Trump announced he had bankrupted a casino. After decades of long and successful business, the establishment simply stopped being profitable. We can speculate for days why and how this happened. However, what makes this case even more bizarre is the fact his casinos were in Atlantic City. Hence, this is an example of how casinos can go bust in case of bad management.
When Punters Empty The Register
The “house always wins” saying isn’t a guarantee for a successful casino business. Namely, regulated gambling establishments have to comply with specific rules. That said, they’ll have a greater or lesser advantage over players. By that, we mean that not all games come with the same odds. Hence, experienced players know how to exploit mathematics and, if they play their cards well, with a pinch of luck, they’re able to get out with impressive sums of money.
Kerry Packer – The Blackjack High Roller
The Australian media tycoon is known for his affection towards twenty-one. Allegedly, he is a record holder as a player who holds the most significant loss in British gambling history. Namely, in 1999, Kerry Packer lost around $28 million, all in a three-week time frame.
Naturally, he did not waver after this rather unfortunate event. Indeed, Lady Luck wasn’t on his side those days. All the same, he continued pursuing his passion, which led to one of the most incredible wins in blackjack history.
With $33 million taken from MGM, he hasn’t precisely bankrupted a casino, but his capitalization overcame the establishment from that moment. As a result, the gambling venue had to back him off the game, as he was significantly stronger financially than the MGM. If that didn’t happen, most likely, the casino would be on the bankrupted list today.
However, winning vast amounts of money isn’t exclusively a high-roller affair. If you wish to increase your wager and have a healthier bankroll, you can always select the biggest casino bonus. As a result, you’ll have more chances to win consecutively.
Don Johnsons’ Hat Trick
A former cooperative executive and professional blackjack player managed to strike severe blows to not one but three different gambling establishments.
Although it was a perfect combination of ideal timing and luck, it remains recorded that Johnson took around $15,1 million playing blackjack in different casinos. Namely, he carried around $6 million in Tropicana, $5 million in Borgata, and approximately $4million from Caesars.
Consequently, he was banned from playing blackjack under the same conditions in Tropicana and Borgata, while Caesars banned him from playing for life.
Archie Karas – A Poker Virtuoso
Legend says this Greek immigrant went to Las Vegas with only a few dollars in his pockets. However, what casinos didn’t know back then was that Archie had a specific skill set. Thanks to his immense poker knowledge, Karas made a fortune from playing this table game.
In fact, Karas managed to make around $40 million. This venture lasted around 30 months. As a result, Archie’s lucky streak even got a name: the Run.
Unfortunately, we cannot say this story has a happy ending. Not only has he never bankrupted a casino, but he also played it fair with the ones he got close to bankrupting. He returned the money to the establishment’s register within three weeks. Nevertheless, this story reminds us that it’s possible to win at the casino with $20 (more or less) at hand.
Enter The Hall Of Fame
Naturally, after reading the above, you’ll wonder what if you’re that lucky. First of all, let us remind you that gambling isn’t always about luck. It’s also about skills and knowledge. Therefore, if you want to become one of those gambling legends, you need to start practicing.
The first step in achieving your dreams would be selecting a reputable online casino. You would need a gambling venue with a straightforward platform, generous bonus structure, with plenty of casino games; for this reason, we recommend Betchan live casino. There, you can practice your skills and learn from the best online casino players. Naturally, we don’t mind if you already have your favorite gambling venue. If you haven’t decided which casino you want to start with, check out the link above.
Although no punter has ever truly bankrupted a casino (not officially, though), we’ve heard thousands of stories of players emptying the gambling operators’ registers. Hence, if you want to become one of those legends, find the perfect casino and start playing. In time, you’ll gain more practice and thus more knowledge. Make your moves correctly and wait for luck to kick in.