Legendary Greek Gambler Archie Karas Avoids Jail Time

Greek-American legendary gambler Archie Karas (born Anargyros Karabourniotis) is believed to have had one of the longest recorded winning streak in gambling history, having spun his initial $50 bankroll into over $40 million during a two year period between December 1992 and early 1995. Unfortunately, Karas’ gambling appetites knew no bounds and after hitting a losing streak he then proceeded to blow his whole $40 million bankroll over just three weeks.
Since then Karas has had a few other significant winning streaks, but always ended up handing it all back to the casinos in equally a dramatic fashion. Furthermore, Karas has found himself in hot water with the casinos in the past, having been accused of cheating on a number of occasions. Last year, Archie Karas was then arrested at San Diego’s Barona Casino after apparently marking the blackjack cards to help him win $8,000. A search warrant executed on the 64 year-old’s house subsequently revealed hollowed-out chips which he would apparently use to hide marking ink inside, before wiping it over the casino’s playing cards when the opportunity presented itself. As District Attorney Bonnie Dumanis commented at the time:
“This defendant’s luck ran out thanks to extraordinary cooperation between several different law enforcement agencies who worked together to investigate and prosecute this case.”
The news made sad reading for a world-famous gambler whose stories still form a part of American gambling folklore, and what’s more Karas faced the prospect of spending three years behind bars for his card marking tactics. Fortunately for Karas, though, Judge Daniel Goldstein handed the gambling legend three years probation, instead, and ordered him to pay $6,860 in restitution. Furthermore, the judge told Karas his conviction could be reduce from a felony to a misdemeanor if he remained law-abiding for a year.
Just like fellow legendary Greek gambler Nick Dandolos, Archie Karas put his incredible talents down to not valuing money, and having an ingrained gambling desire to forever raise the game’s stakes. As Jack Binion once famously said of Karas:
“When a player can run a toothpick into a lumberyard, it makes him a tough and dangerous player. Archie fits this bill exactly, which is why so many places are scared to take him on.”