Real Life Stories: Biggest Casino Wins and Losses

Most casino players have small budgets and an appetite for enjoyment of the games, along with a few occasional and small prizes along the way. Yet some want to bet far more and have the financial capacity to do so.

Everyone wants to win big at a casino, yet we know only the tiniest percentage of players do that. However, if you're searching for the biggest casino winners, you sometimes need to look away from online casinos to the regular venues. And you should do the same to discover some of the biggest losers too…

MGM Grand pays out eight figures to Kerry Packer

This story suggests that Kerry Packer won at least $20 million on some blackjack and baccarat, although some sources suggest it could have been up to $40 million. Regardless of the actual figure, we guess he did well that night!

$38 million dropped from one online casino

It looks like this holds the current record for the biggest online win. All we know is that someone from Norway landed a progressive jackpot while playing a slot game. We can see why he wanted to remain anonymous.

Maureen O'Connor lost $13 million to gambling

Former mayor of San Diego, O'Connor estimated that she had gambled over $1 billion over many years of playing at casinos. She apparently won a fair amount, but her losses racked up to $13 million. She blamed a brain tumor for her drastic behavior and admitted to having a gambling problem.

Charles Barkley lost $1 million on almost 20 occasions

That was his estimate when speaking to an interviewer in 2016. Former NBA star Barkley was estimated to be worth over $60 million yet gambled away much of his fortune. Sadly, he suggested that he didn't have a problem with gambling, only a bad habit.

Massive jackpots are rare - and losses are far more common

You can find plenty more stories of big winners and losers online, and they ought to serve as cautionary tales. When you think about how many people make wagers on casino games online and off, you can see that the millionaires made from progressive jackpot games are few.

The bottom line is always to be sure you play with a budget you can afford to lose if things don't go your way. The casino always wins, so the player should remember this and play for amusement and the occasional prize. Anything more is a bonus.