5 Billionaires Who Lost a Fortune in Sports Betting


Gambling is a game of skill and thrill, which lures the players to carry on with the game till the end. While to win the games, players indulge in various strategies such as mathematical probability, reasoning, etc., but others cling on to the guidance of luck. Many times, the boon of luck, and even prediction takes the course of a baneful order and reduces the players from riches to rags. Gambling addict billionaires have lost their fortune entirely in the course of unpredictable sports betting.

While sites such as wetten.com have been listing out credible casinos and sports betting options, self-discretion is always a need while playing with real money.   While we have billionaires investing in space expeditions and revolutionary technologies, some of them have fallen victim to gambling addictions and lost a massive fortune.  Step into a world of excitement and luxury with Milyon88. Explore a diverse range of casino games, including roulette, blackjack, and poker, and experience the thrill of playing in a secure and immersive environment.

Here are a few stories of billionaires who remain a prisoner to major losing strokes in the arena of sports betting.

  • Terrance Watanabe: Pondering upon the biggest of sports betting losers in history, the tragic downfall of Terrance Watanabe surfaces. The businessman was the heir to the great Oriental Trading Company around 1977. He later lost the firm around the early 2000s. His records suggest that he was forced to let go $127 million loss in one go. His losing streak is witnessed as one of the biggest in the history of gambling. To date, he is issued to pay off the remaining $15 million.
  • Maureen O’ Conor- Once a successful mayor-turner pauper, Maureen O’ Conor incurred a staggering loss of $1 billion. Somehow a political turn made her losses reduce to a simple $13 million. Locals of San Diego suggest that the tricky politician and well-known obsessive gambler borrowed a sum of $2 billion from her husband’s charitable fund to pay off her debt, which she ultimately squandered off on pokers and sports betting arena.
  • Charles Barkley- Barkley is often known as the Phoenix Suns ace. Little it is known that the ace star incurred a huge loss of around 30 million, which equals the value of his entire fortune. He paid off his sum in several casinos in Vegas, and sports bookmakers. The player remained quite self-reflective upon his actions and gave up gambling altogether.
  • Harry Kakavas: He is regarded as a gambler who has lost repeatedly. Around 2012-2013, the gambler lost almost every stroke playing baccarat and placing bets in online sports bookmakers. In his extreme desire for sports betting and gambling, the billionaire squandered off $1.43 billion.
  • Frank Saracakis: He is often known as the reckless heir to the Greek Automobile Company. The billionaire took a fancy trip to London where he got highly attracted to horse racing and indulged his spare time in gambling, soon to end up in a huge loss of 13 million. Though he did not lose his entire fortune in the process, but undoubtedly the loss incurred is regarded as one of the biggest losses in gambling history.


The darker side of gambling with the greatest examples in history is delved with. This serves as a reminder to keep a check on problem gambling and gambling addiction. Recent statistical data reveals that there are problem gamblers around the world. This brings in the urgency to deploy software like GamStop, GamBan, etc. in all casinos to promote the healthy structure of responsible gambling in society.

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