Poker participant and gambler Archie “The Greek” Karas has died at age 73. He is thought for one of many largest runs in playing historical past after driving to Las (*73*) from his dwelling in Los Angeles with simply $50 and finally turning that into $40 million by 1995 with the assistance of a $10,000 mortgage.
By 1996, all the cash was gone, however “the run” grew to become part of playing lore. Karas stated rising up in poverty in Greece meant that he had a unique view of danger than others and successful and dropping thousands and thousands of {dollars} didn’t affect his psyche.
“You’ve got to understand something,” he informed Cigar Aficionado in 2008. “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.”
Running It Up
Born on Nov. 1, 1950, Karas’s household struggled financially and he left dwelling at age 15 to work on a cruise ship, incomes $60 per thirty days. He later moved to L.A. and labored as a waiter and pool hustler.
As his billiards motion dried up, Karas moved into poker and have become a daily at L.A.-area card rooms. However, his bankroll was passed by 1992 and his epic journey to Las (*73*) started. After reaching Sin City, a good friend loaned him $10,000 and he started taking part in high-stakes poker, craps, and different video games, reportedly constructing his bankroll as much as greater than $7 million inside three months.
At Binion’s Horseshoe, Karas squared off in nosebleed stakes towards poker greats like Stu Ungar, Chip Reese, Puggy Pearson, Johnny Moss, Johnny Chan, Doyle Brunson, and others. His bankroll reached $17 million throughout this era and he had no drawback placing it on the road with big video games of craps on the property. By the tip of his streak, Karas was as much as $40 million.
Downfall
Things modified in 1995 when he misplaced a lot of what he’d gained in a three-week span. That included dropping thousands and thousands in craps and on the poker desk to Reese. He additionally shed $30 million taking part in baccarat earlier than finally getting right down to his final million.
That additionally went away after a heads-up match with Chan and Lyle Berman (who rotated taking part in within the sport) in L.A. While he received the match, Karas gambled the remaining {dollars} away on the craps and baccarat tables over the following few days.
After a life in playing, Karas suffered a black mark on his popularity in 2013 when he was discovered responsible of dishonest at blackjack in a San Diego on line casino by marking playing cards. That led to Karas getting banned from all Nevada casinos and being listed in the state’s “black book” of excluded players.
Throughout his life, Karas took delight at playing at a few of the highest stakes.
“I’ve gambled more money than anyone in the history of the planet,” he informed Cigar Aficionado. “What most gamblers make in their whole life I gamble in one roll of the dice. Unless the casinos decide to raise their limits after I’m gone, I don’t think anyone will ever gamble more than I have. I’m the biggest ever.”
