Poker player turned £40 into £31million – then lost it all and got banned from casino
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This year, the poker community bid farewell to iconic gambler Archie Karas. Karas, born as Anargyros Karabourniotis, passed away in September at the ripe age of 73 - and he will be remembered by fans worldwide for his extraordinary feat of turning a mere £39 ($50) into a staggering £31million ($40m) only to give it all away. A native of Greece, Karas relocated to the US during his early years, residing in Los Angeles and Portland before finally making Nevada his home.
Born into poverty, he initially earned his keep waiting tables before switching to pool, which proved more lucrative than restaurant work. However, when he found it challenging to find opponents willing to face him, he pivoted his attention to gambling, achieving remarkable success.
In 1992, Karas journeyed to Las Vegas with just a handful of dollars to his name, embarking on one of the most phenomenal gambling runs ever witnessed. A fellow gambler who lent him £10,000 ($12.5K) was promptly repaid as Karas started amassing enormous sums, dramatically altering his life.
Engaging in increasingly high-stakes games, he squared off against the mysterious 'Mr X' at Binion's Horseshoe, the original venue of the World Series of Poker (WSOP), reports the Mirror US. Karas amassed millions against Mr X, reportedly accumulating a bankroll exceeding £5.5m ($7m) within a matter of months.
However, there was scant chance of him stashing away his winnings or investing in real estate. Instead, he sought to challenge himself against the world's top poker players, reportedly defeating Poker Hall of Famers like Puggy Pearson, Johnny Chan and Johnny Moss.
