Watanabe’s Terrifying Gambling Habits

Terry Watanabe’s gambling debts of $127 million is a clear indicator of how a blackjack player’s life can get ruined if he or she makes the wrong decisions.

All gamblers are aware of the Terry Watanabe case, about how he ran into a huge debt because of his addiction to gambling. The American entrepreneur ended up losing $127 million at the Harrah-owned Rio Casino and Caesars Palace in just one year. The gambling company has sued him for refusing to return the gambling loan of $14.7 million it had extended to him. According to a Wall Street Journal report, Watanabe could get up to 28 years in jail if the judge rules in favor of the casinos.

One wonders how Watanabe could lose so much money playing a skill-based game. Such a thing could happen to Watanabe because he was not only addicted to gambling, but also to alcohol. A Caesars Palace security guard had told The New York Daily News that he had never seen Watanabe arrive at the casino sober. Watanabe also made the mistake of thinking that a winning streak should follow a losing streak, owing to which he bet outrageously huge sums of money on what he felt to be a winning hand.

This blog entry was posted on Saturday, April 12th, 2014 at 11:32 pm and is filed under Blackjack News.