Poker Icon and Legendary Gambler Archie Karas Passes Away

One of the most iconic gamblers and Las Vegas legendary players, Archie Karas, reportedly passed away at 73. A recently posted thread on AzBilliads Forums confirms the passing of the legendary player, who is famous for a winning spree called “The Run,” which saw him accumulate tens of millions of dollars in several years back in the 1990s.

Karas, A Poker Legend

Over the last two decades, Karas participated in nearly a dozen tournaments, data from the Hendon Mob reveals. His most recent appearance at the WSOP was back in June 2013 when he played at the $2,500 Seven Card Razz (Event #33), winning $4,759 for 26th place.

Before that, back in June 2009, Karas participated in the $10,000 World Championship No Limit Deuce to Seven Draw. At the time, he ranked fifth, taking home $53,783. Before that, earlier the same month, he won nearly $4,100 after taking 21st place at the $2,500 No Limit Deuce to Seven Draw.

During an appearance at another event for the WSOP back in 2008, he won nearly $20,000. On June 29, 2005, Karas played at WSOP’s $1,500 Seven Card Razz, taking fourth place and a prize of $30,120.

The aforementioned winnings are pocket change when compared to the bets and winnings Karas had back in the 1990s. Well, that was the case until he lost his winnings, making his way to our list of Gamblers Who Lost It All.

The Player’s Arrival to Sin City Started “The Run”

Born on November 1, 1950, Karas first became popular as an expert pool player. While this activity helped him earn money, after a while, it was difficult for him to find an opponent. Near the end of 1992, Karas went to Las Vegas.

It is rumored that upon his arrival to Sin City, he only had $50 in his pocket and even resorted to convincing a fellow gambler to loan him $10,000. Using the money from the loan, Karas won $30,000 by playing high-stakes razz, enabling him to pay back the money and earn $20,000.

From then on, his gambling career was a success as he focused on playing against high-stakes poker players and even won games against other legends such as Johnny Moss, Chip Reese and Puggy Pearson, among others. After an exceptional winning spree that has gone down in history as “The Run,” Karas amassed $40 million in winnings in less than three years.

Regretfully, once he turned from skill-based games to chance games, the legendary gambler started to lose millions and that happened fast. Reportedly, Karas lost his entire $40 million fortune in 1995, effectively transitioning from one of the most successful into one of the most unfortunate gamblers.