Big Losses, Fraud, and Problem Gambling

Big Losses, Fraud, and Problem Gambling

August 11, 2017

While the average debt of our helpline callers is about $50,000, that is nothing compared to what some people have lost during bouts of high stakes gambling.

Take Harry Kakavas for example.

Kakavas made his fortune selling real estate on Australia’s Gold Coast and is considered one of the biggest high rollers in the world. In just five and a half hours, he lost $164 million, after betting $300,000 per hand.

Harry Kakavas’ legal team states that he has a serious gambling addiction, and that casinos around the world are taking advantage of his “special disability”. His lawyer stated “What the evidence demonstrates…is that this was a man who did not and could not control his urge to gamble…”

Just like other men who have lost millions in casinos, Harry is fighting his debts in court – and this isn’t the first time that he’s had to do this. Harry has tried to recover his losses after losing $20.5 million to a casino, but the court dismissed his claim.

So, does Harry have a legitimate gambling problem? Some like Charles Barkley would say that its only a problem if you cannot afford it. We know that not to be true.

Those closest to him say that he served a minor jail sentence after stealing $286,000 and has had to borrow millions of dollars from his family, friends, and banks, in order to feed his gambling habits.

Often, problem gamblers engage in fraudulent activities to fund their gambling addiction. Each year, we encounter numerous helpline callers who are in trouble with the law due to their gambling behavior.

Should you have legal troubles that can be attributed to problem gambling, give our Helpline a call. In the past, we’ve lobbied on behalf of callers in support of their addiction to gambling, opening the legal system’s eyes to alternatives to doing hard time.

Call today. 1-888-ADMIT-IT (236-4848)