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Anargyros Nicholas Karabourniotis[2] (Greek: Ανάργυρος Καραβουρνιώτης, born November 1, 1950), commonly often known as Archie Karas, is a Greek-American gambler, high roller, poker participant, and pool shark famous for the largest and longest documented successful streak in casino gambling historical past, merely identified as the Run, when he drove to Las Vegas with $50 in December 1992 after which turned a $10,000 loan into greater than $40 million by the beginning of 1995, solely to lose it all later that yr. Karas himself claims to have gambled with more money in casinos than anyone else in history[3] and has typically been in comparison with Nick the Greek, one other excessive-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 keep away from going hungry. His father, Nickolas, was a building worker who struggled financially.[2]

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 by no means noticed his father once more. Nickolas died 4 years later.

Karas worked as a waiter on a ship, making $60 a month until the ship arrived at Portland, Oregon.

Gambling profession[edit]

He later moved to Los Angeles and labored in a restaurant that was subsequent to a pool corridor. He honed his pool abilities and ultimately made more cash playing pool than he did as a waiter. When his victims from the pool corridor thinned out, he switched to taking part in poker in Los Angeles card rooms. Karas claims to have gone from being broke to a millionaire and again several times. Later, he became an astute poker participant, constructing his bankroll to over $2,000,000. Professional poker players corresponding to Chip Reese and Doyle Brunson, had played and considered Karas a weaker poker participant, typically 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 seeking larger video games. The following three years would go down in legend as the greatest run in on line casino playing historical past.[2]

You've got to grasp something. Money means nothing to me. I don't worth it. I've had all the fabric things I may ever need. Everything. The issues I would like, cash cannot buy: well being, freedom, love, happiness. I don't care about money, so I have no concern. I do not care if I lose it.[3]

The Run[edit]

In December 1992, after losing his total bankroll, Karas drove to Vegas with his automotive and $50 in his wallet. After arriving at the Mirage, Karas recognized a fellow poker participant from Los Angeles and satisfied him to lend him $10,000. Karas rapidly turned the mortgage into $30,000 playing $200/$four hundred restrict Razz.[3] Karas paid $20,000 to his backer, who was more than content material.[5]

With a bit of over $10,000 in his pocket, Karas went to a bar with a pool desk adjoining from[clarification needed] the Liberace Plaza on East Tropicana. There he found a rich and revered poker and pool player. Karas refused to reveal his identify for the sake of his opponent's fame; he merely referred to him as "Mr. X". They started enjoying 9-ball pool at $5,000 a recreation, raising the stakes as time went on. After Karas had received several hundred thousand dollars, they raised the stakes to $40,000 a recreation. Many gamblers and skilled poker gamers watched Karas play at stakes by no means seen earlier than. Karas ended up profitable $1,200,000. The 2 determined to play poker at Binion's Horseshoe, where Karas received an additional $3,000,000 from Mr. X. Karas was willing to gamble every part he had won and continued to lift 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 solely three months in Las Vegas. By now, many poker players had heard of Mr. X's losses to Karas. Only one of the best gamers dared to problem him. Karas sat on the Binion's Horseshoe's poker desk with 5 of his 7 million dollars in front of him, waiting for any gamers keen to play for such stakes.[7]

The first challenger was Stu Ungar, a 3-time World Series of Poker champion extensively regarded as one of the greatest Texas hold'em and gin rummy players of all time. Ungar was backed by Lyle Berman, one other skilled poker player and business government who had co-based Grand Casinos. Karas first beat Ungar for $500,000 enjoying heads-up Razz. Karas then performed Ungar in 7-card stud, which cost Ungar an extra $700,000.[7] The following participant was Chip Reese, extensively thought to be the greatest cash game participant. Reese claims that Karas beat him for extra money than anyone else he ever played. After 25 video 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 of the very best players would not play him simply because his stakes were too high. The one participant to beat Karas in the primary spherical during his run was Johnny Chan, who beat him for $900,000, although Chan misplaced to Karas incessantly, earlier than and after the streak. By the top of his six-month-lengthy profitable streak, Karas had amassed more than $17 million. Karas said that Doyle Brunson was the one participant in a position to beat him at Razz throughout his winning streak.[8]

The poker motion for Karas principally dried up because of his popularity and stakes. He turned to craps for $100,000 per roll.[4] Karas was allowed to make go line and come bets of as much as $300,000, however with no odds.[9] Jack Binion capped Karas' buy bets on the 4 and 10 at $100,000. At one level, Binion raised Karas' four and 10 purchase bet limit to $200,000. Karas shortly gained $920,000 beneath these conditions; then Binion immediately lowered the restrict again to $100,000.[9] Karas stated that he could quickly win $three million on dice, whereas it might take days to weeks with poker. Karas stated, "with every play I was making million-dollar decisions, I'd have played even greater in the event that they'd let me."[3]

Transporting money turned a hassle for Karas, as he had several million dollars in his car on daily basis. He carried a gun with him always and would usually have his brother and on line casino security guards escort him. At one point, Karas received all the Binion's casino's $5000 chips, the highest denomination on the time.[10] By the tip of his winning streak, he had received over $40 million.[11][12]

Downfall[edit]

Karas's odds-defying two-and-a-half-yr streak came to an finish in 1995 when he lost most of his money in a period of three weeks. He misplaced $11 million taking part in craps after which misplaced the $2 million he gained from Chip Reese back to him. Following these losses, he switched to baccarat and misplaced one other $17 million, for a total of $30 million. With approximately $12 million left and needing a break from playing, he returned to Greece. When he came again to Las Vegas, he went back to the Horseshoe, shooting craps and taking part in baccarat at $300,000 per bet, and in lower than a month, lost all however his last million.[13]

Along 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 so they took turns taking part in Karas. He most well-liked enjoying each of them, as a substitute of just Chan, as he felt Chan was the tougher opponent. Karas received 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 misplaced his $forty million, he has gone on a few smaller streaks. Lower than a yr later, he turned $40,000 into $1,000,000 at the Desert Inn. He then went back to the Horseshoe and gained an additional $four million earlier than shedding all of it the subsequent day.

Just a few years later, Karas went on one other streak on the Gold Strike Casino, 32 miles from Las Vegas. He went with $1,800 and misplaced $1,600 until he was down to simply $200. Then after getting one thing to eat, he determined to gamble the rest of it. He shot dice and ran his $200 into $9,seven hundred 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 again 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 at present resides in Las Vegas. His household lives in Greece. Karas stays in touch along with his household by telephone, and tries to travel back to Greece not less than once per yr. He introduced his mom, Mariana, to Las Vegas for six-month visits when he was on his successful streak.

Karas's story was documented in Cigar Aficionado by American writer Michael Konik[3] and likewise was featured, along with Stu Ungar, biggest casino win in history in an E! documentary particular known as THS Investigates: Vegas Winners & Losers.[15] Konik additionally 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, together with poker player Tony G, by Tiffany Michelle through the 2008 World Series of Poker. He was additionally a featured participant on ESPN's coverage of the 2008 WSOP.[16]

Cheating[edit]

Karas was arrested on September 24, 2013, after being caught marking playing cards at a San Diego on line casino's blackjack desk by the Barona Gaming Commission. He was arrested at his Las Vegas home and extradited to San Diego to face prices of burglary, winning by fraudulent means and dishonest. He was discovered responsible and sentenced to 3 years probation.[11]

See also[edit]

William Lee BergstromNick Dandolos
References[edit]

^ "Anargyros Nicholas Karabourniotis". Nevada Gaming Control Board. Retrieved October 7, 2016.^ a b c Sexton, Tom (February 11, 2008). "Sexton's Corner, Vol. 31: Archie Karas, The World's Biggest Gambler". Poker News. Archived from the original on February 19, 2009. Retrieved March 2, 2009.^ a b c d e Konik, Michael (2008). "Tables of Dreams". Cigar Aficionado. Archived from the original on February 10, 2009. Retrieved March 2, 2009.^ a b c Schwartz, Howard (June 21, 2008). "Archie Karas, The best Gambler". Poker Works. Archived from the unique on February 20, 2009. Retrieved March 2, 2009.^ McGuire, Paul (September 2008). "The Return of Archie 'The Greek' Karas". Bluff Magazine. Archived from the unique on February 20, 2014.^ Sexton, Tom (February 18, 2008). "Sexton's Corner, Vol. 32". Poker News. Retrieved March 2, 2009.^ a b c Sexton, Tom (February 25, 2008). "Sexton's Corner, Vol. 33". Poker News. Retrieved March 2, 2009.^ Sexton, Tom (March 3, 2008). "Sexton's Corner, Vol. 34". Poker News. Retrieved March 2, 2009.^ a b Sexton, Tom (March 17, 2008). "Sexton's Corner, Vol. 36". Poker News. Retrieved March 10, 2014.^ Sexton, Tom (March 10, 2008). "Sexton's Corner, Vol. 35". Poker News. Retrieved March 2, 2009.^ a b Lacey-Bordeaux, Emma (September 29, 2013). "Legendary gambler Archie Karas accused of marking playing cards in San Diego on line casino". CNN. Retrieved March 10, 2014.^ Sexton, Tom (April 14, 2008). "Sexton's Corner, Vol. 40". Poker News. Archived from the original on April 15, 2008. Retrieved March 2, 2009.^ a b Sexton, Tom (April 14, 2008). "Sexton's Corner, Vol. 37". Poker News. Archived from the unique on February 14, 2009. Retrieved March 2, 2009.^ Sexton, Tom (March 31, 2008). "Sexton's Corner, Vol. 38". Poker News. Archived from the original on February 14, 2009. Retrieved March 2, 2009.^ Karas, Archie (June 13, 2008). THS Investigates: Vegas Winners & Losers (documentary). USA: THS.