Fascinating Las Vegas Gambling Stories

Las Vegas

Las Vegas gambling stories

Every gambler dreams of going to Las Vegas and returning financially wealthy. If nothing else, they hope to return home with a fascinating story to tell. Las Vegas is well-known for its wild tales and gambling adventures. Here are a few of the more legendary stories in Las Vegas gambling history.

A Homeless Man Becomes a Temporary Millionaire

A homeless man in Las Vegas gets into an argument with his wife so he takes his 400 dollar Social Security check to the casino. He decides to play blackjack. The man is filthy and quite rude to the employees of the casino. His play is reckless and often irrational. It doesn't matter, luck is on his side. His winnings soon begin to pile up. The casino offers him the penthouse suite and treats him like a king. Over the next week or so, he goes on a winning streak that most gamblers can only dream about. He turns his 400 dollar investment into well over 1 million dollars.

The story doesn't end here. The odds soon begin to catch up with him and he starts to lose. Instead of walking away with a good portion of his winnings, he refuses to quit. His bankroll of over one million dollars drops down to 40 thousand dollars. At this point, the owner of the casino has seen enough. He asks the man to leave the casino hoping he will use the 40 thousand dollars to improve his life. The man was never heard from again, so it is left to speculation as to what became of the rest of his winnings.

Losing 127 Million in One Year

Terry Watanabe inherited the Oriental Trading Company when his father, the founder of the company, passed away. He amassed a huge fortune when he sold the company. Mr. Watanabe became a frequent gambler at two of Harrah's casinos in Las Vegas. He played games with high casino advantages such as slots and roulette. He also played blackjack but did not use proper basic strategy which gave the house a significant advantage as well. He often gambled recklessly while intoxicated. He lost as much as 5 million dollars in a day. In 2007, it is reported that he lost 127 million dollars at Harrah's casinos which is one of the biggest losing streaks in Las Vegas history. Harrah's Entertainment Inc. is believed to have received 5.6 percent of its overall Las Vegas gaming revenue from Mr. Watanbe in 2007.

Gambled Everything On One Spin

32-year-old Ashley Revell decided to sell everything he owned and bet it all on one spin of the roulette wheel. He liquidated his assets and raised 135 thousand dollars. He took this money and traveled to Las Vegas. After speaking with several casinos, the Plaza Hotel and Casino decided to raise their maximum bet limit and accept his wager. Ashley chose red and the ball landed on the red seven. He doubled his total net worth in mere seconds.

Las Vegas has thousands of fascinating gambling stories, and these are three that capture the imagination. Unfortunately, for every story of gambling success there are dozens that result in financial loss. Realistic expectations need to be kept in perspective whenever you gamble.