Archie Karas Biography, Gambling Career, Family, and More

Anargyros Karabourniotis, better known as Archie Karas, is a Greek American gambler. He became renowned for achieving the most enormous and longest-recorded winning streak in gambling history.

Archie only had a measly $50 when he arrived in Las Vegas back in 1992 and managed to accumulate a massive $40 million in poker winnings by the beginning of 1995.

Popularly dubbed “the Run,” this was an unprecedented feat in the gambling scene that remains unmatched even to this date.

Archie’s shot to fame did not just end there. He is also famous for losing it all that same year. In fact, he claims that no one in history has gambled more money than him in casinos, and we are inclined to believe him.

But before we dive into the details of his biography, you can read more here about playing poker or other casino games for real money online.

Personal Information

Archie Karas Family and Relationships

Archie was born in the charming village of Antypata on the island of Cephalonia, Greece. He was born to Nickolas Karabourniotis and Mariana Karabourniotis. He grew up in poverty, as his father was a construction worker who struggled financially.

There’s nothing much available online regarding other specific family members and Archie Karas’ relationships.

However, in an interview a few years back, Archie claimed to have been married twice. But it didn’t work out. In his own words, gambling doesn’t mix with family and relationships.

Archie Karas Education

There’s nothing much to talk about regarding Archie Karas’s education. He dropped out of school when he was still in junior high.

Due to his family situation, Karas had to start working very early as a young boy. Instead, it seems like he got his education from the gambling scene. 

Archie Karas Career

As mentioned, Archie’s family was quite poor growing up. So, to avoid going hungry, he has always been shooting marbles, even as a child.

He also didn’t have a great relationship with his father. In fact, it deteriorated to the point that he decided to run away from home at 15. This was the journey that would set his course to the gambling scene.

Karas started working on a ship as a waiter, making $60 a month. After saving up some money, he moved to Los Angeles, where he began working as a waiter in a restaurant beside a bowling alley.

Karas honed his gambling skills at this bowling alley, which had pools and poker tables. 

Soon, Karas started playing at real casinos and proved exceptionally skilled. He soon managed to build up his bankroll to $2 million.

Interestingly, Karas claimed to have experienced incredible ups and downs of going broke to millionaires and back many times. So, by the end of 1992 in December, Karas lost his entire bankroll while playing high-stakes poker except for $50.

Instead of slowing down after, Karas decided to double down and headed to Vegas, the Mecca of gambling, with just the remaining $50 in his pocket.

This would be the start of what will become one of the most outstanding achievements in gambling history.

Achieving The Run

Upon getting to the Mirage, Karas loaned $10,000 from a fellow poker player acquaintance he met, which he took to hit the tables.

Within hours, he made $20,000 and gave that back to the acquaintance as repayment plus a huge interest, keeping just the initial $10,000. 

With the remaining $10,000 in his pocket, Archie kept gambling across different scenes, from the pool table to poker, achieving incredible success over the years.

And by the beginning of 1995, Karas had turned his measly initial $50 into $40 million, becoming the largest and longest winning streak ever.

Dubbed “The Run,” this feat went down in gambling history and even the Guinness Book of Records.

The Downfall

Any average person would have likely hung up their spurs and walked away with the massive winnings from the Run or at least slowed down, but not Karas.

He just keeps on gambling. Sadly, this led to an unprecedented losing streak resulting in him losing everything in 1995 while doing what he loved – gambling on craps, pools, baccarat, poker, and others.

After this significant loss, Karas still achieved some incredible winning streaks over the years. However, these were on more minor scales than “The Run.”

Throughout his career, Karas had run-ins with many top gamblers of the time, from Stu Ungar to Puggy Pearson, Johnny Moss, Johnny Chan, Doyle Brunson, and others, many of whom he managed to best.

Archie Karas’s Net Worth

As mentioned, Archie Karas has had many ups and downs with winnings during his gambling career, going from broke to millionaire and back within a short time.

At the peak of his legendary winning streak, Archie Karas acquired a net worth of over $40 million in winnings in 1995. Unfortunately, he gambled and lost all his bankroll shortly after.

There’s no current, reliable information about Karas’s current financial situation. But he’s known to have experienced more winning and losing streaks right after.

Archie Karas’ Physical Appearance

Unfortunately, no statistics are available regarding Archie Karas’s appearance.

Conclusion

Archie Karas is an enigma in the world of gambling. His $50 to $40 million run in three years seems like something out of a high-stakes Hollywood movie. So also is the story of him losing it all within a short time.

Overall, his unfazed approach to winning and losing huge amounts and his sheer love for the art of gambling itself make him an iconic figure in the scene.

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