Gambling Losses: Around 38% of the world’s population spends money on gambling every month, most of them a comparatively small amount of up to €20 per month. However, about a tenth of the population in Indonesia, Japan, Malaysia, and Germany regularly gambles for higher stakes. In 2019, gross gaming revenue in Indonesia, Japan, Malaysia, and Germany was around 11.1 billion euros in the regulated gaming market, and 2.21 billion euros in the non-regulated gaming market in Indonesia, Japan, Malaysia, and Germany. In 2016, the gross gambling revenues of the stationary gaming market amounted to around 324 billion euros worldwide, those of the online gaming market to 40 billion euros worldwide.
The biggest Gambling Losses and Casino Whales of all time
Someone who loses a lot of money in the casino is also called a casino whale. Of course, these casino whales who lose a lot of money must also have a lot of money that they can lose at all. Most of these players are high rollers and gamble for very high sums, where you can of course lose a lot of money in a very short time.
Arguably one of the most well-known whales in our history is Terrance Watanabe, an American businessman, and son of founder Harry Watanabe, who founded the Oriental Trade Company as a gift shop.
Terrance Watanabe first traveled to Las Vegas in 2005 and resided in the best casino hotels and lost $21 million in Gambling Losses in the first two years he lived there. But he liked being wooed by the casinos, staying for free in the best suites, and receiving such attention. Definitely not a gifted player, he still played blackjack at three tables at the same time and at times even played for $50,000 a hand. He even managed to gamble more than 5 million dollars in one day several times and gambled an unbelievable 127 million US dollars within one year. This makes him one of the absolute top losers in history. This figure was reportedly later corrected to 204 million.
Zhenli Ye Gon
Is a Sino-Mexican businessman. He reportedly lost over $125 million between 2004 and 2007 in Gambling Losses. Police searched his home in Mexico on suspicion of drug trafficking in 2007 and found $207 million in cash. It was the largest amount of drug money seized in history. Between 2004 and 2007 he stayed only in the best casinos in Las Vegas, which showered him with great suites, private jets, meals, cars, and attention. In all, Zhenli lost $85 million at the Venetian and another $40 million at a small handful of nearby casinos.
Akio Kashiwagi is one of the greatest baccarat whales of all time. He was a Japanese real estate investor and spent a lot of time in the biggest casinos around the world. In January 1990 he won around 22 million dollars in Australia and from then on he was an integral part of the gambling scene. Shortly after, he reportedly won an incredible $6 million in ten hours. He was then invited by Trump to the Trump Plaza Casino. Here he was up 10 million in baccarat when his luck ran out, he lost everything and left. He then traveled to Europe and continued to gamble there. His gambling debts totaled nearly $20 million. After this Gambling Losses, the Japanese were never seen again in any international casino.
Recommended: World Famous Gamblers.