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#1126
Alrelax's Blog / Archie Karas. Won it all and lost it all!
September 15, 2019, 03:21:11 PM

Archie Karas


Archie Karas
Nickname(s)   The Greek
Residence   Las Vegas, Nevada
Born   Anargyros Nicholas Karabourniotis
November 1, 1950 (age 68)[1]
Antypata, Greece
World Series of Poker
Bracelet(s)   None
Money finish(es)   7
Highest ITM
Main Event finish   None
World Poker Tour
Title(s)   None
Final table(s)   None
Money finish(es)   None

Anargyros Nicholas Karabourniotis (Ανάργυρος Καραβουρνιώτης, born November 1, 1950), commonly known as Archie Karas, is a Greek American gambler, high roller, poker player, and pool shark famous for the largest and longest documented winning streak in casino gambling history, simply known as The Run, when he drove to Las Vegas with $50 in December 1992 and then turned a $10,000 loan into more than $40 million by the beginning of 1995, only to lose it all later that year. Karas himself claims to have gambled with more money in casinos than anyone else in history and has often been compared to Nick the Greek, another high-stakes gambler of Greek origin.

Early life


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 avoid going hungry. His father, Nickolas, was a construction worker who struggled financially.

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 never saw his father again. Nickolas died four years later.

Karas worked as a waiter on a ship, making $60 a month until the ship arrived at Portland, Oregon. He would later move to Los Angeles, where he would gamble his bankroll up to $2,000,000 before losing it playing high-stakes poker.

Gambling Career

He worked at a Los Angeles restaurant, which was next to a bowling alley and a pool hall. There he honed his pool skills and eventually made more money playing pool than he did as a waiter. When his victims from the pool hall thinned out, he went to Los Angeles card rooms to play poker. Karas claims to have gone from broke to millionaire and back several times. Later, he became an astute poker player, building his bankroll to over $2,000,000. Professional poker players such as Chip Reese and Doyle Brunson, had played and considered Karas a weaker poker player often 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 in search of bigger games. The next three years would go down in legend as the greatest run in casino gambling history.

You've got to understand something. Money means nothing to me. I don't value it. I've had all the material things I could ever want. Everything. The things I want, money can't buy: health, freedom, love, happiness. I don't care about money, so I have no fear. I don't care if I lose it.

The Run

Karas' initial run lasted for six months when he drove to Las Vegas with $50 and turned a $10,000 loan into approximately $17 million playing poker and pool. It started in December 1992 when, after losing his entire bankroll, Karas drove to Vegas with his car and $50 in his wallet. After arriving at The Mirage, Karas recognized a fellow poker player from the Los Angeles scene and convinced him for a $10,000 loan. Karas quickly turned the loan into $30,000 playing $200/$400 limit Razz. Karas returned $20,000 to his backer, who was more than content.

With a little over $10,000 in his pocket, Karas went to a bar with a pool table adjacent from the Liberace Plaza on East Tropicana. There he found a wealthy and respected poker and pool player. Karas refused to reveal his name for the sake of his opponent's reputation; he simply referred to him as "Mr. X". They started playing 9-ball pool at $5,000 a game raising the stakes as games progressed. After Karas won several hundred thousand dollars, they raised the stakes to $40,000 a game. Many gamblers and professional poker players watched Archie play with stakes never seen before. Karas ended up winning $1,200,000. The two decided to play poker at Binion's Horseshoe where Karas won an additional $3,000,000 from Mr. X. Karas was willing to gamble everything he made and continued to raise the stakes to a level few dared to play at.

With a bankroll of $4 million, Karas gambled his bankroll up to $7 million after spending only three months in Vegas. By now, many poker players had heard of Mr. X's losses to Archie. Only the best players dared to challenge him. Karas sat at the Binion's Horseshoe's poker table with 5 of his 7 million dollars in front of him, waiting for any players willing to play for such stakes.

The first challenger was Stu Ungar, a three-time World Series of Poker champion widely regarded as one of the greatest Texas hold'em and gin rummy player of all time. Stu was backed by Lyle Berman, another professional poker player and business executive who co-founded Grand Casinos. Karas first beat Stu for $500,000 playing heads-up Razz. Karas then played Ungar in 7-card stud, which cost Ungar an additional $700,000. The next player was Chip Reese, widely regarded as the greatest cash game player. Reese claims that Karas beat him for more money than anyone else he ever played. After 25 games, Reese was down $2,022,000 playing $8,000/$16,000 limit.

Karas continued to beat many top players, from Puggy Pearson to Johnny Moss. Many top players would not play him simply because his stakes were too high. The only player to beat Karas in the first round during his run was Johnny Chan, who beat him for $900,000, though Chan did lose to Karas frequently, before and after the streak. By the end of his six-month-long winning streak, Karas had amassed more than $17 million. Karas said that Doyle Brunson was the only player able to win playing Razz during his winning streak.

The poker action for Karas mostly dried up due to his reputation and stakes. He turned to dice, for $100,000 per roll. Karas was allowed to make pass line and come bets of up to $300,000, but with no odds.[9] Jack Binion capped Karas' buy bets on the 4 and 10 at $100,000. At one point, Binion raised Karas' 4 and 10 buy bet limit to $200,000. Karas quickly won $920,000 under these conditions; then Binion immediately lowered the limit back to $100,000. Karas said that he could quickly win $3 million on dice, while it would take days to weeks with poker. Karas stated, "with each play I was making million-dollar decisions, I would have played even higher if they'd let me."

Transporting money became a hassle for Karas, as he had several million dollars in his car every day. He carried a gun with him at all times and would often have his brother and casino security guards escort him. At one point, Karas had won all of the Binion's casino's $5000 chips, the highest denomination at the time. By the end of his winning streak, he had won over $40 million.

Downfall

Karas's odds-defying two-and-a-half-year streak came to an end in 1995 when he lost most of his money in a period of three weeks. He lost $11 million playing dice and then lost the $2 million he won from Chip Reese back to him. Following these losses, he switched to baccarat and lost another $17 million, for a total of $30 million. With approximately $12 million left and needing a break from gambling, he returned to Greece. When he came back to Las Vegas, he went back to the Horseshoe, shooting dice and playing baccarat at $300,000 per bet, and in less than a month, lost all but his last million.

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 they took turns playing Karas. He preferred playing both of them, instead of just Chan, as he felt Chan was the tougher opponent. Karas won and doubled his money, only to lose it all at dice and baccarat, betting at the highest limits, in just a few days.

Mini-streaks


Since he lost his $40 million, he has gone on a few smaller streaks. Less than a year later, he turned $40,000 into $1,000,000 at the Desert Inn. He then went back to the Horseshoe and won an additional $4 million before losing it all the next day.

A few years later, Karas went on another streak at the Gold Strike Casino, 32 miles outside Las Vegas. He went with $1,800 and lost $1,600 until he was down to just $200. Then after getting something to eat, he decided to gamble the rest of it. He shot dice and ran his $200 into $9,700 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 back 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.

Personal life


Karas currently resides in Las Vegas. His family lives in Greece. Karas stays in touch with his family by phone, and tries to travel back to Greece at least once per year. He brought his mother, Mariana, to Las Vegas for six-month visits when he was on his winning streak.

Karas's story was documented in Cigar Aficionado by American author Michael Konik and also was featured, along with Stu Ungar, in an E! documentary special called THS Investigates: Vegas Winners & Losers. Konik also wrote an article about Karas which was featured in a book about Las Vegas gamblers called The Man With the $100,000 Breasts.

He was interviewed, along with poker player Tony G, by Tiffany Michelle during the 2008 World Series of Poker.[16] He was also a featured player on ESPN's coverage of the 2008 WSOP.

Cheating


Karas was arrested on September 24, 2013 after being caught marking cards at a San Diego casino's blackjack table by the Barona Gaming Commission. He was arrested at his Las Vegas home and extradited to San Diego to face charges of burglary, winning by fraudulent means and cheating. He was found guilty and sentenced to three years probation.
#1128
Without engaging with you, at least in baccarat (similar to the Black/Red comparison) in my experience really bad sessions/downturns/losing streaks, etc., are usually followed by 'better' presentments which are easier if you can hold your same frame-of-mind with your bet selections and recoup or at least come close to recouping.  Moving/Playing past recouping and profiting is extremely difficult to capitalize on due to emotions, psych and financial concerns for most all players, again IMO. 

Huge problem being, is the player's frame of mind and his ability to recognize the presentments and capitalize on them so close to the emotional and financial drain that just happened.

But as you said, there is, let us say, a good opportunity that will resurface after the bad patch subsides.   

Again, in my experience I state the above.

#1129
https://www.bloomberg.com/news/articles/2019-09-11/the-24-billion-online-casino-boom-china-is-struggling-to-halt

Bloomberg BusinessweekSign InSubscribe
The $24 Billion Online Casino Boom China Is Struggling to Halt
The Communist Party is hard-pressed to stop the spread of digital gambling in Asia.

It's 6:30 on a Monday morning in China, and the Guangdong Club online gambling platform is humming as a stream of wagers placed in Chinese yuan flows through the portal. The club, which lists its place of registration as Costa Rica, hosts operators offering hundreds of sessions for such popular games as baccarat and blackjack, lotteries, and sports betting, many of them in Chinese. A single baccarat table can draw betting volumes touching 75,000 yuan ($10,500) in a 30-second game.

This is gambling with a digital twist, and it allows Chinese to bet without traveling to Macau or Las Vegas. It's also a growing problem for China's Communist Party, which says, "the transactions are draining hundreds of millions of yuan from the country. Beijing views betting as a vice that fuels social unrest, and Chinese law prohibits gambling on the mainland" including online. But the anonymity the internet affords has Chinese bettors flocking to digital gaming halls. They're fueling growth in Asia's online gambling sector, which is expected to reach $24 billion in sales this year, according to market researcher Technavio.

Beijing has begun lobbying jurisdictions that permit online gambling, including the Philippines and Cambodia, to shut down the industry, an ambition made more urgent as China's economy slows and it grapples with an escalating trade war with the U.S. Yet stopping the businesses is proving difficult, because there is little incentive for these countries to hamper a lucrative industry. "It's become a cross-border business, and it's very difficult for China to prosecute", says David Lee, a partner at Taipei-based law firm Lin & Partners.

Value of Online Gambling Market, Estimates and Projections

Data: Technavio

The Guangdong Club hosts virtual casinos operating out of Cambodia as well as others licensed in the Philippines, countries where gambling sites catering to international players are permitted. Costa Rica, where the club's website says it's registered, doesn't have an industry regulator or laws banning online casinos that provide gambling services overseas. The Guangdong Club didn't respond to emailed requests for comment, and its website lists no phone numbers. "Many online gaming companies operate under the radar", says Ben Lee, a Macau-based managing partner at Asian gaming consultant IGamiX. "There are so many of them. It's like China's trying to whack a mole."

The Chinese government has tied a number of problems to online gambling, including telecommunication fraud and citizens being lured to work illegally in the Philippines. The websites allow wagers of as little as 10 yuan, making them within reach of lower-income bettors. Online gaming halls also threaten to lure bettors away from Macau, the only city under Chinese control where casinos are allowed (though online gambling is still prohibited). The Guangdong Club has a logo that resembles that of a Macau junket operator called Guangdong Group, but the Macau company says it has no relationship with the online platform.

Gamblers on the Guangdong Club platform can deposit money and receive their winnings via accounts at several Chinese banks, including some of the country's largest, such as Bank of China Ltd. and Industrial & Commercial Bank of China Ltd., according to the club's website. The banks declined to comment.

Many platforms also allow gamblers to use popular online payment systems from Tencent Holdings Ltd. and billionaire Jack Ma's Ant Financial Services Group. The payment systems have been willing to talk about how they're helping the government's effort to curb online gambling. In recent weeks, some virtual operators have warned gamblers that Tencent's WeChat app and Ant Financial's Alipay have tightened controls. In a statement, Tencent said it takes measures to help identify transactional risks and act against those attempting to use its system for illegal gambling. Ant Financial says it uses an AI-powered risk engine to intercept suspicious transactions and has zero tolerance for online gambling. When a merchant is confirmed to be engaged in gambling, Alipay limits its ability to collect payment, stops working with it, and reports the case to police.

China is winning some concessions from its neighbors. In response to pressure from Beijing, Cambodia has said it won?t issue any new online gambling licenses and won't renew existing ones when they expire.

Most of China's pushback has been directed at the Philippines, where online betting sites have contributed to a small economic boom. Following China's calls for a crackdown, the Philippines has said it will stop accepting applications for new licenses at least until the end of the year. That's short of the full ban China wants to see. President Xi Jinping brought up online gambling in August when he met Philippine President Rodrigo Duterte, who?s since rejected the call for a ban. The Philippines isn't interested in drastic steps that will have an adverse effect on the economy and will instead regulate the sector, Chito Sta. Romana, the Philippine ambassador to China, said in a Bloomberg TV interview on Aug. 30.

Meanwhile, work continues in Manila on two multimillion-dollar online casino hubs intended to house operations and workers. "We are legal, we ensure fair play," Andrea Domingo, head of the Philippine gaming agency, said in a recent speech at an industry event, adding that online casinos "are here to stay." With Siegfrid Alegado, Lulu Yilun Chen, and Jun Luo

BOTTOM LINE - China says online gambling is draining hundreds of millions of yuan from the country. But it's finding it hard to stop websites registered and operated abroad.
#1130
The Gambler's Choice 1944 Classic Movie B&W Full Version Enjoy!


https://www.youtube.com/watch?v=FtfuADOGsgc


https://www.imdb.com/title/tt0036845/
#1131
Me, You & Them / Last night 9-12-19
September 12, 2019, 03:32:36 PM
Well, took part of the day off yesterday for a break with the 9-11 memorials.  Participated in the remembrance of all the emergency workers and civilians that perished that horrible day, 18 years ago.  Finished late around 10:00 PM or so.  Myself and H-Money went out to eat and then decided to go to the casino on the way to drop him off, before my ride home.

We got there around 1:00 AM.  Previous shoe was just ending.  H-Money buys in with $1,500.00.  He places $200.00 on the Banker first hand, wins and turns to me, I cut the shoe you seen that right?  I told him, slow down and play what you see.  So he tells me he is going to wager for doubles.  He wins the first 2 Bankers and then wins the following first 2 Players.  He flat bets the $200.00.  He follows his word and losses the 3 third repeating Player as he wagered for the cut to the Banker.  He then wagers for the second repeating Banker and losses that as well.  After the first Player which was a natural, another ball game game enters the picture. 

He said to me, the first hands were all naturals so far and I am sticking with the Player.  So, he wagers another $200.00 and wins the first Player.  Then I told him to do a (1 + 4 Side Parlay) that is my favorite when things get strong no matter the shoe presentments, etc., and he listened to me.  He wagered the same $200.00 on the Player and told me he was doing the (1 + 4 Side Parlay) as well.

Please Note:  I have written about my (1 +4 Side Parlay) wagers.  While I do not religiously wager consecutively with the Side Parlay Wager (normally skipping numerous hands being wagered with the other flat wager or positive progression, etc.,) I endorsed H-Money's ideology about doing the Side Parlay Wager repetitively as well because the Player side was so strong, etc.  So the old saying, when it is there and being presented, capitalize on it.   

He won the next four hands with an incredibly strong Player presentment each time.  No matter what the Player had, even 2 monkeys and the Banker have a 7, the Player would pull an 8 or a 9.  Another one was the Player having one and the Banker having a 7.  The Player pulls a 7.  The tie was a natural 9 tie as well.  So, he flat bets the $200.00 he was sticking with, shooting for a thousand to $1,500.00 profit and swore to walk away if reached.  He won every (1 + 4 Side Parlay) wager he made on top of the flat bet of $200.00.  So on the 5th hand he is clearing $3,000.00 extra on the (1 + 4 Side Parlay) wager.  He goes to a $400.00 wager and stops the (1 + 4 Side Parlay) wagering.  He wins the 6th and the 7th hands as well.  He sticks with the $400.00 flat bet and goes in with another $400.00 to start the (1 + 4 Side Parlaying) once again for the 8th hand.  The tie comes out, Natural 9-9 Tie.  He sticks with the same exact bet he had, while all the rest of the table is verbally citing, Banker strong and Tie Cuts, etc., etc.  He wins the 9th hand and is hyped up big time.  Now, the whole table was with their pure statistical garbage about no way for the streak to continue and Banker has to come out and time to cut again.  Almost every hand, everyone was wagering for that damned cut!  Almost no more over powering the shoe where all players group up and just smack the casino on those types of runs or even long chops (types of trends or patterns does not matter, just anything repeating itself with strong repetitive occurrence hand after hand).  But it is turning into a game of, that guy can not keep winning or it just has to cut, type of thinking hand after hand after hand.

H-Money leaves the wager out there and wins the next 3 hands as well, the 10th, 11th and 12th hands with the $400.00 out there as a flat bet as well as the (1 + 4 Side Parlay) he started again.  He wins them all for another $6,000.00 profit once he completed the 12th hand.   

So he completed 2 (1 + 4 Side Parlays) and his numerous flat bet wagers before it finally cut to Banker.  Cashed out and walked away.  We went back after about 15 hands or so after doing what we had to do.  It was all 1s and 2s.  People were winning one and losing 2 or winning 2 and then losing 2, etc. 

The bottom line, anything can happen at anytime.  But the easiest thing to smack the casino is to jump on and and stick with anything that is strong no matter what type of presentment trending that is.



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#1132
Alrelax's Blog / Re: 9-11-2001
September 12, 2019, 03:07:39 PM
Pictures from last night to honor the fallen members of my family on 9-11-2001.  Flags represented special meaning that were either on their caskets or in memorial that hung in my family members NYFD Station House. 

"Some gave everything and yet others gave their own life's to help other firefighters get out alive as well as civilians".

Some make fun of this stuff and yet others pick it apart for the political drama of it, but when you lose family members that were doing their job, all the media and picking apart by bystanders sucks!  Thank God some really do understand.  My little boy asked me the other day, "Daddy, why did people from our family go running into that building that was going to fall down and kill everyone"?


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#1133
Alrelax's Blog / Re: 9-11-2001
September 11, 2019, 04:44:45 PM
We put up the flag on the front of the truck and also the NYC Flag up top.  A uniform was put out to symbolize the fallen members of the service that gave their lives. 

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#1134
Alrelax's Blog / Re: 9-11-2001
September 11, 2019, 04:34:14 PM
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#1135
Alrelax's Blog / 9-11-2001
September 10, 2019, 03:06:24 PM
It is a tough day that rolls around every year.  For the past 18 years it has been real hard to deal with.

My three flags that I possess will be flown at various fire departments in honor or lost loved ones. 

One is a New York State Flag.
One is a New York City Flag.
One was airbrushed painted in honor of a family member. 

I will try to get some pictures tomorrow of them flying at the fire departments that i left them at yesterday.

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#1136
For the record, I have nothing against anyone.  However, some will twist and turn as well as copy and paste previous written threads and even edit some of those with their own additions or deletions to them.  And so the story goes on.

Before I purchased this website, Stephen was a subject matter here and discounted, verbalized and chastised many on this board including actual scorecards and scoreboards from real live B&M casinos and the comments from himself or his numerous sock-puppets were in attempt (IMO) to boast his own thoughts, ideas and commercial ventures for sale.

Kinds of the same thing happened with Mark AKA: Gizmotron, and his school tutor teachings, etc.  But things went personal with personal attacks and more.  Maybe I played into them, maybe those other members rolled with something I started.  I do not know.  But, Stephen did get extremely personal and vindictive.  Plus, he was clearly selling his books, etc.  As far as I know he would not even support this website with Vic at the time.

As far as 888 and those articles, I was also approached to co-market with them as well and for the few dollars possible, I declined.  They also offer to purchase for about $10.00 to $25.00 series of articles related to gaming that fit into their protocols and schedules, etc. 

On a side note, you will notice on most forums, gaming/gambling included, there will always be those that are A-Alpha and devote extensive time to writing, posting, copying and pasting and everything related.  Those will usually attempt to control and rule the board and any member or poster not in agreement with them will be ousted, humiliated, chastised and talked down on in the highest majority of instances.

I still say, if it does not interest you, you learn and find it interesting, you enjoy it and not necessarily endorse it, just are interested by it, read it and post and enjoy.  If not, whether the thread or a complete forum, just skip it and close the cover, the same as going to Barnes & Noble and checking out a book.  If you like it, buy it, if not do you really complain, write the author, chastise the store manager for selling it, write letters hatred and picket outside the store? 

Thanks, Alrelax, Glen.



#1137
Related But Not Related / Hold Up! Time Out!
September 07, 2019, 09:50:40 PM
LOL.  ROMAFL!  Classic, great scene from Do the Right Thing.

https://www.youtube.com/watch?v=gLYTObRhcSY

Samuel Jackson won. ;)
Absolutely one of the best, love the guy!

Well one stereotype about Samuel Jackson is true...HE'S ALWAYS YELLING!!!!!!!!


Pretty much says it the way it is, was and always will be.  Quote from a Jewish Politician in Midtown Manhattan when quizzed about slavery and who put the money up for so many slave ships.  Usually it is the beast the roars the loudest, LOL.
#1138
Realism the way it is most of the times.  But not publicized and not brought into the mainstream media any longer because it is so against the leftist do gooders.  And by the way, that clip is not satire, it is reality.  Bed Stuy, Red Hook, South Bronx, Jerome Avenue, East New York, countless other sections.

https://www.youtube.com/watch?v=OLdIKlXl3ZA
#1139
https://www.youtube.com/watch?v=8Xjr2hnOHiM&t=59s

And the comments.  P.S.:  For thsoe that copy and Paste and add things, the comments are on YouTube (A Public Site) LOL :)

""Hey....I Gots to know".....never gets old watching that moment. Proper English, LOL";

"Love how he is so chill with the whole thing. Like "Ah for chirst's sake, I was just enjoying my lunch when these punks showed up and bothered everyone."

"He's shooting robbers while still chewing his lunch. What a badass! Modern movies have nothing on Dirty Harry";

"The "punk" was played by Albert Popwell. He was in 5 Eastwood movies altogether:
The Enforcer, Sudden Impact, Magnum Force, Coogan's Bluff and Dirty Harry.";

"Too bad that ALbert Popwell became a crack dealer and fell into the down sides of his own people".

#1140
Alrelax's Blog / Re: Pure Reality
September 04, 2019, 03:40:45 PM
And just to refresh the memories of all the by passers and stop by type of people that are nosy, trolls and board of drama over at other websites where they attempt their form of control and bull-stuff, etc., a few got so pissed off when I actually supported the founder and person that formed this board.  When I posted what I sent him and encouraged others to do so, sometimes it worked and other times, like the last few times, a few got enraged and posted their derogatory comments. 

But fact remains, that they NEVER contributed to this board.  They vomit their hatred, they vomit their on-line drama and a bunch of gambling fallacies to the max!  And reality also proves and proved, that a few of them have actually posted such lengthy and volatile stuff on other message boards, which they used to complain my posts were lengthy and complicated.  ROMAFL to the max!  Does not matter if there is one or 1,000 members here, active or inactive.  Point remains the same, this board is open and will remain open and can be the base for anyone that desires a neutral gaming board base as long as people follow the rules of the board.

Reality remains, if you do not like it, enjoy it, learn from it, find it interesting, skip it--the same as you would in a book store, no darn different!  If you are going to chastise, humiliate, degrade, demean, make up fake news-events and histories of other members, go to Wizard of Odds, VMB or anyone of the other boards, Facebook, Twitter, etc., and do just that.   

Reality has proven that they resent anyone that is successful (no matter what level or magnitude of success that might be, or whatever the member is positively posting about) or has accomplished anything with casino wagering of any level.  Reality has also proven that they attack, berate and lie about other members.  The level of hatred and bitterness from within those, literally and physically spending hours upon hours of internet computer time to post hatred and as well as, their own utter infatuation and total consumption caused by either a Gambling board owner, Moderator or other member, is the most pitiful thing I have every witnessed!

However, Reality has proven just that!