You may regret a person whose status has tens of millions, and then they lose nearly all of it. But the famous Archie Karas, with whom this happened dozens of times, hardly needs our sympathy, because the money has always been only a way to achieve his love of playing.
According to his statement, no one in history has made bets of the same amount as he did. Checking whether this statement is true is hardly possible. However, upon studying Karas's biography, we believe that this was indeed the case.
Early Years
Anargyros Karaburniotis (the full name of Archie Karas) was born in 1950 in the Greek city. His father, Nicholas, worked in construction, while his mother managed the household and raised their children. Their family was frankly poor, so that sometimes they all had to live from hand to mouth.
From early childhood, Archie did not get along with his father and spent more time on the street. It was there that he launched his career as a professional gambler. He first started to win money by deftly throwing balls in the famous game.
When Archie was fifteen, he had a terrible quarrel with his father, and he almost broke his head with a shovel. That same night, Karas ran away from home and never met his father, who died four years later.
Starting an Independent Life
Archie decided to leave Greece at any cost. He became a waiter on the ship. Over the next two years, he worked for a salary of sixty dollars. When the ship arrived in Portland, he decided to stay in the United States and left the boat without telling anyone about his intentions.
After traveling along the West Coast by hitchhiking, Archie Karas settled in Los Angeles, where he was employed as a waiter once again. The salary was enough for a comfortable life, but such a life was too dull for Archie. He started to visit the bowling alley, where he acquired valuable skills with the "balls" in his youth. Soon, bowling became a much more serious source of income for him than a job in a restaurant.
In the bowling alley were also billiard and poker rooms. Karas decided to learn a new game for himself, and after a short time succeeded in both. In his memoirs, he finally decided, after nineteen years, that he would never work and become a professional player.
Ups and Downs of Karas
Over the next two decades, Archie Karas was constantly playing poker and pool. He became a millionaire many times, and each time lost all the money. In late 1992, he lost a lot in poker. Left with fifty dollars in his pocket, he decided to go to Las Vegas to win back there for large bets.
The Run
What happened to him after is known in the gambling history as the Run. If in any English-language article or book devoted to gambling, you will see the word with a capital letter and the definite article, you must know that it is an interval during which Archie Karas won over forty million dollars.
So, in Las Vegas, Archie came with fifty dollars. There he found a friend who lent him ten thousand. Karasu took only two hours of play in poker blinds at $200 / $400 to increase the amount to twenty thousand. He returned, throwing as much, and with the rest of "dozens" again won.
Archie first heard about a businessman who enjoyed playing pool for large stakes. They met and played a few games of five thousand. Needless to say, luck was on the side of Karas. The businessman was very persistent, so their pool marathon lasted more than two and a half months. Bets, of course, grew up as an opponent of Archie, who needed to recoup. It all ended so that Karas again became a millionaire by winning about $1.1 million from his opponent.
Later, they switched to poker, where the Karas' enemy was well-versed. But he could not compete with Archie, and he broke up with another three million dollars. After that, he finally realized that it was time to stop.
Next in line were some of the best poker players. Archie settled in the legendary casino Binion's Horseshoe with several million dollars and was ready to take a call from anyone. Soon, there were opponents. Stu Ungar, Chip Reese, Johnny Moss, Doyle Brunson, and Puggy Rierson took turns, but nobody could win against Archie Karas. In total, he won about seventeen million in six months.
At Horseshoe Casino, he played on the largest bets in Las Vegas, often in craps. It got to the point that he put a hundred thousand for one round.
I must say, at a specific time in this game, he got very lucky. For example, he once won more than four million a game. Then all the 5,000th chips available at the casino were moved to him.
By the end of the fortunate period for Archie, he had more than forty million. He spent a few million in the car and never left a gun. His brother or hired guards often accompanied him.
logical End
The Run period ended predictably. Archie lost the first eleven millions in craps. Even Chip Reese helped him with a couple of million. Then he decided to try his luck in baccarat, but it cost him seventeen million. Karas went to rest in his native Greece, and then returned to Horseshoe Casino to get even, but he left more than ten million at the tables for craps. The remaining money was lost in other games.
We don't know if this is true or not, but they say that the only major purchase he made was a car.
However, that was not the end of Archie Karas's fantastic wins. A few years later, he won a million in the Desert Inn Casino. With this amount, he came into his favorite Horseshoe Casino and won another four million. But the next day, his five million went back to the casinos.
It is known that he later also managed to increase his bankroll from two hundred dollars to nearly one million. He even walked away with the money.
Contemporary Activities of Archie Karas
Archie currently resides in Las Vegas and continues to play poker for substantial stakes. He participates in a series of World Series of Poker tournaments, but at the time of writing, he had not won any of them, although he had reached the final table.
Once a year, Karas goes to Greece to visit his family. It is mentioned in various books on gambling. Several TV programs and many articles are devoted to him. He is an occasional guest on television.
Philosophy of Karas
By the way, Archie, talking about his past, does not show any signs of regret that he couldn't stop in time. Perhaps his attitude toward money seems strange to you, but he clearly explained his outlook in the interview:
"You have to understand something. Money means nothing to me. I do not appreciate it. I have everything I could ever wish for. Everything. Money can not buy what I need: health, freedom, love, happiness. I do not care about money, so I have no fear. I do not care if I lose it".
If this is true, we can only admire Archie Karas.
