Harrah's Going After a guy for 127 Million Dollars

Check out this article:

Gambler Who Lost Millions Wants Some Debt Forgiven

This tells it all:
Terrance Watanabe sometimes got so high on painkillers and alcohol in Las Vegas that he walked into doors and passed out at the gaming tables. The Omaha philanthropist consumed more than two bottles of expensive vodka daily and gambled for days at a time without sleeping. In a single year, he lost $127 million at two casinos owned by Harrah's Entertainment. Nearly $1 billion in wagers passed through his hands.

WOW! Amazing that thus guy could blow $127 Million. He must have been one of the worse gamblers on earth. Granted, all games in the casino are rigged. If it is an even money game then the house will take a 5% vig, but most are 5-10% against you. If you play "the field" in craps you're almost a 17% loser. What this means is that if you play 100 times - you will lose 67 times and win 33 times.

The best odds game (subtract poker because you can turn the odds in your favor with skill) is craps - by betting the pass line with the odds bet. Next you would be almost 50-50 if you can find a single deck blackjack game and are counting cards.

The best is when a casino advertising THE LOOSEST SLOTS IN LAS VEGAS! 98% PAYBACK!! What that means is that you lose 2% of the time - so if you played forever you would lose all your money 2% at a time. Sure, you can sit there for 1000 pulls and only lose 20 times - if you're playing nickle slots that's only $1.00! But what's the point? Not to mention, the 98% payback is probably on the $50 slots not the .05 ones.

Anyway, back to our degenerate $127 Million dollar gambler... I think he made a fortune wholesaling Dollar Store jumk! Shows you that you can make a ton of money in something that isn't thought of much - and then lose it all gambling!

I'd figure if I was to the point that I actually lost $50,000 gambling - it was time to do something I was better at - or less costly, like cross stitching! HA HA HA HA HA.

Finally, as mentioned in the article, the guy was a "whale," which is a gamblier that is flush with cash that casinos throw all sorts of comps at to get him in the door. On my 'bucket list' is to become a whale. But I suspect the casino I am a whale at will not like me since I'll just be playing at the $1000/$2000 poker table and maybe some Pia Gow - so I can yell PI-GA! PI-GA! PI-GA!