AUSTRALIAN GAMBLER LOSES A FORTUNE AND IS SUING THE CASINO TO GET IT BACK – Rarely do you hear of anyone losing something and being referred to as a good loser; this is often depicted as a ‘sore loser’ and when you lose $1.5 billion at the casino you certainly have something to be sore about.
An Australian national, Harry Kakavas is a highly successful real estate salesman who made his vast fortune selling property in and around Australia’s beautiful Gold Coast.
The only problem Harry Kakavas has is an addiction to gambling and there have been many a multi-millionaire or billionaire who has succumbed to the gamblers itch; resulting in often huge loses.
There are those, who have real money, who can gamble away a few million and think nothing of it other than an expense of having a good night out. However, there are those, like Harry Kakavas who don’t know when to stop and what starts out as a pleasurable flutter soon turns into an addiction that consumes your every waking moment.
I can certainly identify with this because as a young man I had an addiction for slot machines and I couldn’t get enough of them. At the time I was earning less than £44 a week in my employment but not only would I throw all of that in the slot machines I would also borrow money to feed my habit.
I guess I was lucky and at the age of 22 I finally stopped and since then I have never even looked at another slot machine.
Yes people say it’s a ridiculous addiction and they are right, but like most addictions they rarely make sense to anyone who has never suffered.
Harry Kakavas is fully aware that he is a compulsive gambler and feels that the casino knew full well he had a problem and yet encouraged him to gamble further.
Harry Kakavas is not seeking to be reimbursed to the full extent of his loses but rather just a tiny fraction. This high court action in Melbourne is seen by some as a way to force casinos to be more responsible in the way they deal with customers who obviously have an addiction to gambling.
His main obsession was baccarat where he would sometimes sit for hours losing money. It was reported that Harry entered the casino in May 2006 and within just five and a half hours lost a staggering $164 million – most of his bets consisted of $300,000 per hand.
Other gambling trips cost him even more money as he once took his private jet to Macau where he lost $4 million in a single day.
The court case is still ongoing and this is not the first time he has attempted to take the Crown Casino in Melbourne to court – on other occasions it didn’t even get past the first hearing. However his lawyers are now arguing that Kakavas was taken advantage of by the casino by letting him gamble such vast sums in the knowledge he had an addiction problem.
If you have a gambling problem don’t let it consume you; you can get help from organisations such as gamblersanonymous.org