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What is the most money ever lost in a casino?
Terrance Watanabe said he bet more than $825 million and lost nearly $127 million of it in Caesars Palace and the Rio casinos in 2007, believed to be the biggest losing streak in Vegas history. “It’s a tragedy, Mr. Watanabe’s a tragedy,” his lawyer, Pierce O’Donnell, told “Good Morning America” today.
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What makes baccarat dangerous for casinos is that, due to the large amounts of money bet and the thin house edge, players have the potential to win serious money at the casino’s expense. So if a guy is betting $10,000 a hand, he could conceivably win $1 million from you.
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