Archie ‘The Greek’ Karas will go down in history as one of the most famous gamblers and poker players ever. He holds the title for the longest documented winning streak in gambling history. From 1992 to 1995 and starting with only $50 to his name, he managed to turn that paltry sum into a fortune of 40 million. He may have lost everything, but he did one hell of a good job of getting it all back, and then some. 4 Allen Stanford: $7 Billion Allen Stanford engineered one one of the largest frauds of all time, and had a very public - and very humiliating - fall from grace that lost him his entire wealth, and landed him in prison.

Celebrities Who Lost It All Gambling Casinos

Professional athletes can make millions of dollars through lucrative contracts — and sometimes billions when you add in endorsement deals — but despite their high paychecks, many end up going broke. According to a 2009 report by Sports Illustrated, 78% of former NFL players have gone bankrupt or are under financial stress within two years of retirement, and within five years of retirement, an estimated 60% of former NBA players are broke. Similar fates have befallen professional baseball, golf and hockey players as well.

But where exactly do those millions go? GOBankingRates is breaking down exactly how 25 athletes lost millions of dollars, with some falling from the top of their game to financial rock bottom.

Celebrities Who Lost It All Gambling Money

Last updated: July 28, 2020

Celebrities Who Lost It All Gambling Losses