Archie Karas
Born Anargyros Karabourniotis is widely considered the most extraordinary and volatile winning streak in gambling history. Known simply as "The Run," Karas famously turned $50 into more than $40 million over a three-year period between 1992 and 1995, only to completely lose it all in a matter of weeks.

Driving to Vegas with $50
In December 1992, Karas was already a seasoned high-stakes pool hustler and card player in Los Angeles. However, he suffered a massive $2 million loss in a high-stakes L.A. poker game. Left with practically nothing, Karas drove to Las Vegas with just $50 in his pocket. At Binion's Horseshoe casino he ran into a friend who loaned him $10,000. Karas sat down at a high-stakes Razz poker table and tripled the money in three hours.

High-Stakes Pool Hustling
With his initial bankroll secured, Karas found a wealthy, unnamed businessman to play high-stakes 9-ball pool. They began playing for $5,000 a game. As the stakes escalated, they raised the bets to $40,000 a game. Karas absolutely decimated his opponent, winning $1.2 million. He then took the same businessman to the poker table, winning an additional $3 million from him.

Crushing Poker Legends
Now sitting on millions, Karas issued an open challenge to anyone willing to play him heads-up for any stakes. One by one, the greatest poker players in the world stepped up—and one by one, Karas broke them. Stu Ungar the three-time WSOP Main Event champion took on Karas for $10,000 a hand. Karas swept him for $500,000 in a single brief session, and later won another $700,000 when Ungar tried to get even. Chip Reese widely regarded as the greatest cash-game player of that era challenged Karas but lost $2 million to the unstoppable Greek. Karas went on to defeat Doyle Brunson, Puggy Pearson, and Johnny Chan. Eventually, the poker pros simply ran out of money or refused to play him anymore. His poker winnings reached an estimated $7 million.

Dice Tables
Because no one would play him in poker, Karas shifted his attention to the casino dice pits. Karas convinced Binion's management to let him bet unprecedented amounts, raising the table limit to $100,000 a roll. By the beginning of 1995, his total net worth peaked at just over $40 million.

Spectacular Collapse
In mid-1995, the math caught up to him, and "The Run" came crashing down in a matter of weeks as he lost $11 million in a single night playing craps. At Baccarat he tried to win it back but instead hemorrhaged another $17 million, losing $28 million total in less than 48 hours. Down to his final millions he took a break and went back to Greece, but returned to Vegas shortly after. He lost all but his last million at the tables. He managed to beat Johnny Chan for an extra million at poker, but immediately walked back to the baccarat tables and blew every single remaining cent

Post-Run Legacy
Karas spent the rest of his life chasing small streaks, but he never replicated the magic of the early '90s. Later in life, he faced legal trouble and was caught marking cards at blackjack tables. In 2017, he was officially placed in Nevada's infamous "Black Book," legally banning him from entering any casino in the state for life. Karas passed away in September 2024 at the age of 73.