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Anargyros Nicholas Karabourniotis^[2] (Greek: Ανάργυρος Καραβουρνιώτης, born November 1, 1950), commonly known as Archie Karas, is a Greek-Americangambler, high roller, poker player, and pool shark famous for the largest and longest documented winning streak in casino gambling history, simply known as The Run, when he drove to Las Vegas with $50 in December 1992 and then turned a $10,000 loan into more than $40 million by the beginning of 1995, only to lose it all later that year. Karas himself claims to have gambled with more money in casinos than anyone else in history^[3] and has often been compared to Nick the Greek, another high-stakes gambler of Greek origin.^[4]

• 2Gambling career
• 5Personal life

Early life[edit]

Karas was born on November 1, 1950 in Antypata on the island of Cephalonia, Greece. He grew up in poverty and had to shoot marbles as a teenager to avoid going hungry. His father, Nickolas, was a construction worker who struggled financially.^[2]

Karas ran away from home at the age of 15 after, in a rage, his father threw a shovel at him, barely missing his head. He never saw his father again. Nickolas died four years later.

Karas worked as a waiter on a ship, making $60 a month until the ship arrived at Portland, Oregon. He would later move to Los Angeles, where he would gamble his bankroll up to $2,000,000 before losing it playing high-stakes poker.^[2]

Gambling career[edit]

He worked at a Los Angeles restaurant, which was next to a bowling alley and a pool hall. There he honed his pool skills and eventually made more money playing pool than he did as a waiter. When his victims from the pool hall thinned out, he went to Los Angeles card rooms to play poker. Karas claims to have gone from broke to millionaire and back several times. Later, he became an astute poker player, building his bankroll to over $2,000,000. Professional poker players such as Chip Reese and Doyle Brunson, had played and considered Karas a weaker poker player often giving Karas handicaps to play. In December 1992, Karas had lost all but $50 playing high-stakes poker. Instead of reevaluating his situation and slowing down, he decided to go to Las Vegas in search of bigger games. The next three years would go down in legend as the greatest run in casino gambling history.^[2]

You've got to understand something. Money means nothing to me. I don't value it. I've had all the material things I could ever want. Everything. The things I want, money can't buy: health, freedom, love, happiness. I don't care about money, so I have no fear. I don't care if I lose it.^[3]

The Run[edit]

Karas' initial run lasted for six months when he drove to Las Vegas with $50 and turned a $10,000 loan into approximately $17 million playing poker and pool. In December 1992, after losing his entire bankroll, Karas drove to Vegas with his car and $50 in his wallet. After arriving at The Mirage, Karas recognized a fellow poker player from the Los Angeles scene and convinced him for a $10,000 loan. Karas quickly turned the loan into $30,000 playing $200/$400 limitRazz.^[3] Karas returned $20,000 to his backer, who was more than content.^[5]

With a little over $10,000 in his pocket, Karas went to a bar with a pool table adjacent from the Liberace Plaza on East Tropicana. There he found a wealthy and respected poker and pool player. Karas refused to reveal his name for the sake of his opponent's reputation; he simply referred to him as 'Mr. X'. They started playing 9-ball pool at $5,000 a game raising the stakes as games progressed. After Karas won several hundred thousand dollars, they raised the stakes to $40,000 a game. Many gamblers and professional poker players watched Archie play with stakes never seen before. Karas ended up winning $1,200,000. The two decided to play poker at Binion's Horseshoe where Karas won an additional $3,000,000 from Mr. X. Karas was willing to gamble everything he made and continued to raise the stakes to a level few dared to play at.^[6]

With a bankroll of $4 million, Karas gambled his bankroll up to $7 million after spending only three months in Vegas. By now, many poker players had heard of Mr. X's losses to Archie. Only the best players dared to challenge him. Karas sat at the Binion's Horseshoe's poker table with 5 of his 7 million dollars in front of him, waiting for any players willing to play for such stakes.^[7]

The first challenger was Stu Ungar, a three-time World Series of Poker champion widely regarded as one of the greatest Texas hold'em and gin rummy player of all time. Stu was backed by Lyle Berman, another professional poker player and business executive who co-founded Grand Casinos. Karas first beat Stu for $500,000 playing heads-up Razz. Karas then played Ungar in 7-card stud, which cost Ungar an additional $700,000.^[7] The next player was Chip Reese, widely regarded as the greatest cash game player. Reese claims that Karas beat him for more money than anyone else he ever played. After 25 games, Reese was down $2,022,000 playing $8,000/$16,000 limit.^[7]

Karas continued to beat many top players, from Puggy Pearson to Johnny Moss. Many top players would not play him simply because his stakes were too high. The only player to beat Karas in the first round during his run was Johnny Chan, who beat him for $900,000, though Chan did lose to Karas frequently, before and after the streak. By the end of his six-month-long winning streak, Karas had amassed more than $17 million. Karas said that Doyle Brunson was the only player able to win playing Razz during his winning streak.^[8]

The poker action for Karas mostly dried up due to his reputation and stakes. He turned to dice, for $100,000 per roll.^[4] Karas was allowed to make pass line and come bets of up to $300,000, but with no odds.^[9]Jack Binion capped Karas' buy bets on the 4 and 10 at $100,000. At one point, Binion raised Karas' 4 and 10 buy bet limit to $200,000. Karas quickly won $920,000 under these conditions; then Binion immediately lowered the limit back to $100,000.^[9] Karas said that he could quickly win $3 million on dice, while it would take days to weeks with poker. Karas stated, 'with each play I was making million-dollar decisions, I would have played even higher if they'd let me.'^[3]

Transporting money became a hassle for Karas, as he had several million dollars in his car every day. He carried a gun with him at all times and would often have his brother and casino security guards escort him. At one point, Karas had won all of the Binion's casino's $5000 chips, the highest denomination at the time.^[10] By the end of his winning streak, he had won over $40 million.^[11][12]

Downfall[edit]

Karas's odds-defying two-and-a-half-year streak came to an end in 1995 when he lost most of his money in a period of three weeks. He lost $11 million playing dice and then lost the $2 million he won from Chip Reese back to him. Following these losses, he switched to baccarat and lost another $17 million, for a total of $30 million. With approximately $12 million left and needing a break from gambling, he returned to Greece. When he came back to Las Vegas, he went back to the Horseshoe, shooting dice and playing baccarat at $300,000 per bet, and in less than a month, lost all but his last million.^[13]

With his last million, he went to the Bicycle Club and played Johnny Chan in a $1,000,000 freezeout match. This time, Chan was backed by Lyle Berman, and they took turns playing Karas. He preferred playing both of them, instead of just Chan, as he felt Chan was the tougher opponent. Karas won and doubled his money, only to lose it all at dice and baccarat, betting at the highest limits, in just a few days.^[13]

Mini-streaks[edit]

Since he lost his $40 million, he has gone on a few smaller streaks. Less than a year later, he turned $40,000 into $1,000,000 at the Desert Inn. He then went back to the Horseshoe and won an additional $4 million before losing it all the next day.

A few years later, Karas went on another streak at the Gold Strike Casino, 32 miles outside Las Vegas. He went with $1,800 and lost $1,600 until he was down to just $200. Then after getting something to eat, he decided to gamble the rest of it. He shot dice and ran his $200 into $9,700 and then headed to Las Vegas. He stopped at Fitzgeralds Casino & Hotel and won another $36,000, betting $1,000 with $2,000 odds. He went back to Binion's and won another $300,000 at the Horseshoe and by the third day, had won a total of $980,000 from a low of $200.^[14]

Personal life[edit]

Karas currently resides in Las Vegas. His family lives in Greece. Karas stays in touch with his family by phone, and tries to travel back to Greece at least once per year. He brought his mother, Mariana, to Las Vegas for six-month visits when he was on his winning streak.

Karas's story was documented in Cigar Aficionado by American author Michael Konik^[3] and also was featured, along with Stu Ungar, in an E! documentary special called THS Investigates: Vegas Winners & Losers.^[15] Konik also wrote an article about Karas which was featured in a book about Las Vegas gamblers called The Man With the $100,000 Breasts.^[4]

He was interviewed, along with poker player Tony G, by Tiffany Michelle during the 2008 World Series of Poker. He was also a featured player on ESPN's coverage of the 2008 WSOP.^[16]

Cheating[edit]

Karas was arrested on September 24, 2013 after being caught marking cards at a San Diego casino's blackjack table by the Barona Gaming Commission. He was arrested at his Las Vegas home and extradited to San Diego to face charges of burglary, winning by fraudulent means and cheating. He was found guilty and sentenced to three years probation.^[11]

See also[edit]

Is Poker Considered Gambling

References[edit]

1. ^'Anargyros Nicholas Karabourniotis'. Nevada Gaming Control Board. Retrieved 2016-10-07.
2. ^ ^abcdTom Sexton (2008-02-11). 'Sexton's Corner, Vol. 31: Archie Karas, The World's Biggest Gambler'. Poker News. Archived from the original on 19 February 2009. Retrieved 2009-03-02.
3. ^ ^abcdeMichael Konik (2008). 'Tables of Dreams'. Cigar Aficionado. Archived from the original on 10 February 2009. Retrieved 2009-03-02.
4. ^ ^abcHoward Schwartz (2008-06-21). 'Archie Karas, The Greatest Gambler'. Poker Works. Archived from the original on 20 February 2009. Retrieved 2009-03-02.
5. ^Paul McGuire. 'The Return of Archie 'The Greek' Karas'. Bluff Magazine. Archived from the original on 2014-02-20.
6. ^Tom Sexton (2008-02-18). 'Sexton's Corner, Vol. 32'. Poker News. Retrieved 2009-03-02.
7. ^ ^abcTom Sexton (2008-02-25). 'Sexton's Corner, Vol. 33'. Poker News. Retrieved 2009-03-02.
8. ^Tom Sexton (2008-03-03). 'Sexton's Corner, Vol. 34'. Poker News. Retrieved 2009-03-02.
9. ^ ^abTom Sexton (2008-03-17). 'Sexton's Corner, Vol. 36'. Poker News. Retrieved 2014-03-10.
10. ^Tom Sexton (2008-03-10). 'Sexton's Corner, Vol. 35'. Poker News. Retrieved 2009-03-02.
11. ^ ^abEmma Lacey-Bordeaux (2013-09-29). 'Legendary gambler Archie Karas accused of marking cards in San Diego casino'. CNN. Retrieved 2014-03-10.
12. ^Tom Sexton (2008-04-14). 'Sexton's Corner, Vol. 40'. Poker News. Archived from the original on 15 April 2008. Retrieved 2009-03-02.
13. ^ ^abTom Sexton (2008-04-14). 'Sexton's Corner, Vol. 37'. Poker News. Archived from the original on 14 February 2009. Retrieved 2009-03-02.
14. ^Tom Sexton (2008-03-31). 'Sexton's Corner, Vol. 38'. Poker News. Archived from the original on 14 February 2009. Retrieved 2009-03-02.
15. ^Karas, Archie (2008-06-13). THS Investigates: Vegas Winners & Losers (documentary). USA: THS.
16. ^Archie Karas in 2008 WSOP on YouTube

External links[edit]

With casinos aplenty and a strong gambling tradition, the state of Michigan is a natural fit for poker. Online poker has been a hit as well, but with its sharply rising popularity come a number of questions – about the law, about how poker is regulated, about how to play and more. We can’t answer every question you have about online poker in Michigan, but we can get you pointed in the right direction with our Guide to Playing Online Poker in Michigan.

We get this question from US poker players all of the time: “Can people in my state play online poker?” In this case, the answer to the question for Michigan is yes – it’s easy to setup an online poker account from Michigan and play for real money in a matter of minutes. There are plenty of sites that accept players from Michigan – but we still suggest that players start their search with a room from this real money USA list.

Latest Updates from Michigan’s Online Poker Efforts

On December 20, 2019, Michigan became the sixth state in the new US internet gambling market to legalize online poker. It also became the fifth to legalize online casino games and the 20th to authorize sports betting.

It was not an easy road, but the tenacity of a few lawmakers made it happen.

Efforts began in 2017 with Michigan State Senator Mike Kowall introducing an online poker bill, one later picked up on the other side of the legislature by State Representative Brandt Iden. After a committee passage on the Senate side and positive informational hearing on the House side, the bills died.

In 2018, Kowall and Iden put their bills – SB.203 and HB.4926, respectively – back into play. Both were called the Lawful Internet Gaming Act. There was some activity throughout the year, including a rewrite of the Senate bill, but Iden began pushing his House bill in the summer. He took his bill to the House floor, where it passed by a 68-to-40 vote.

After the summer break and late into the year, Kowall took HB.4926 to the Senate floor on the last day of the session for the year. And during that last day, during the week before Christmas, the Senate made a few changes but passed it by a vote of 33-to-5. The House then approved the amended bill by a 71-to-38 vote.

Brandt Iden introduced HB 4926, better known as the Michigan online poker bill.

The bill went to then-Governor Rick Snyder for his signature, but instead, he vetoed it on December 28. He claimed that the issue required more study, worrying that online gambling would affect land-based gambling revenue. The veto was a massive disappointment for online poker supporters, especially Iden and Kowall.

Kowall retired at the end of 2018, so Iden found a new supporter in the Senate in State Senator Curtis Hertel Jr. In early 2019, the two introduced identical bills, both called the Lawful Internet Gaming Act, which were essentially reiterations of the 2018 bills. The Senate bill was SB.186, and the House version was HB.4311.

Iden quickly took HB.4311 to the House Regulatory Reform Committee, but a hearing revealed that the Michigan Department of Treasury announced that it opposed the bill due to certain harm to the state’s online lottery sales and land-based gambling establishments. Newly-elected Governor Gretchen Whitmer agreed and issued a counterproposal to Iden’s bill.

Whitmer’s suggestions removed online slot games from the bill and raised licensing fees and tax rates significantly. Iden called it a non-starter, and the two engaged in a standoff. Iden said that Whitmer refused to meet for further negotiations.

At the beginning of December, Hertel stepped in. He was a Democrat, as was the governor, and she once worked for Hertel’s father, who had been in the legislature years before. Hertel met with Whitmer friend and State Representative Rebekah Warren. The two worked out a compromise.

On December 11, the newly-amended bill passed the Michigan Senate by a vote of 35-to-3, and the House re-approved it quickly.

And on December 20, 2019, Governor Whitmer of Michigan signed the bill into law, declaring victory for bipartisanship, compromise, and new revenue dollars for the state.

2019 Lawful Gambling Act

The bill that became law was HB.4311, better known as the Lawful Internet Gaming Act. Its purpose was multi-fold but summed up as:

Operating, conducting, and offering for play internet games… that already occur throughout the state illegally.

Consistent and in compliance with the Unlawful Internet Gambling Enforcement Act of 2006.

Consistent and in compliance with the 1963 Michigan State Constitution, ensuring internet games be played lawfully…only conducted by persons who are lawfully operating casinos in this state.

In order to protect residents of this state who wager on games of chance or skill through the internet and to capture revenues generated from internet gaming.

Use of the internet to sell lottery games, sales of which will not be prohibited by the act.

The three Detroit-based casinos and 23 tribal casinos located throughout the state will be able to apply for licenses to operate online poker and/or casino games. The application fee is $50,000. If approved, the licensee will pay a $100,000 fee for the initial license and $50,000 per year for annual renewals.

The tax rate on gross gaming revenue, which is significantly more than what Iden originally proposed, will be as follows:

20% tax on amounts up to $4M

22% tax on amounts from $4M to $8M

24% tax on amounts from $8M to $10M

26% tax on amounts from $10M to $12M

28% tax on amounts over $12M

The problem with the new law is that it prohibits interstate compacts to share player pools. The purpose was to ease Whitmer’s mind about large online slot jackpots across state lines, but it inadvertently negatively affects online poker’s hopeful growth.

Is Online Poker Legal in Michigan?

Yes. As of December 2019, online poker is legal in Michigan.

Poker Run Movie

The following information is a summary of sections of the previous law relating to gambling. The new Lawful Internet Gaming Act will supersede some of this wording in order to allow the state to license and regulate its own online poker sites.

Before we get into the question of whether online poker is legal in MI, two important caveats. The first: smart gamblers always know the law firsthand, so be sure to review the complete Michigan statutes at this page. Second: we’re not lawyers and this isn’t legal advice. It’s just an aid for reading and understanding the basics of Michigan gambling law.

How does the poker laws in MI apply to online players? Here are some excerpts from the law that should be interesting to anyone playing poker in the state, online or live:

It’s clearly illegal to offer gambling without holding the proper license in Michigan. Section 432.218 makes it a felony to run a

“gambling operation where wagering is used or to be used without a license issued by the board.”

The definition of “gambling game” as written in Michigan law appears to include all forms of real-money poker:

“any game played with cards, dice, equipment or a machine, including any mechanical, electromechanical or electronic device which shall include computers and cashless wagering systems, for money, credit, or any representative of value” (Section 432.202(v)).

Social games of poker with no rake taken are exempted from the above definition.

Interestingly, it’s more of a crime to win at illegal gambling than it is to lose. Section 750.314 details the charge of “winning at gambling” – if you win less than $50, that’s a misdemeanor, and if your winnings cross the $50 threshold, you could potentially be looking at jail time (by the letter of the law). It’s also a crime to lose, but no jail time is involved and the law allows you to sue the winner to recoup your losses.

There are numerous accessory and conspiracy charges that bring additional criminal exposure to individuals involved in the business operations (even if the connection is tenuous) of illegal gambling activity.

Michigan Gambling Facts

There’s a long relationship between Michigan and gambling, but it wasn’t until the 1900s that the state began a slow and steady march to expand regulated gambling. Horse racing came first, with pari-mutuel wagering getting the nod in 1933. The lottery followed in 1972, and laws governing charitable gambling passed the same year. Following that burst of activity, proponents of regulated gambling had a bit of a wait before further progress was made. In fact, it would be nearly 20 years before additional options were introduced in the state.

Regulated Michigan Gambling Options

What’s there to do for a gambler in Michigan seeking regulated choices? Plenty – you’ll find all of the major five regulated gambling formats on offer in Michigan. If you need a quick refresher, that means commercial casinos, tribal gambling options, pari-mutuel betting, and the state-run lottery. Casinos (commercial and tribal) are spread throughout the state, with the highest concentration in and around the Detroit area.

The newly regulated market in Michigan is more than a year away from becoming a reality.

The state gambling regulator will need to devise detailed regulations, open a licensing application window, vet applicants, and ultimately issue licenses. Approved operators and land-based casino partners will then need to design and prepare their online poker sites, test them, and receive a final approval from the regulator for a full launch.

There is little chance that any site could be ready for launch in 2020. Mid-2021 or later that year is the best estimate at this time.

All Poker and Gambling Laws by State

• June 29th, 2019

  Michigan State Representative Brandt Iden was nothing if not positive about online gaming. For several years, his optimism has been contagious, and many believed he would be the lawmaker to finally legalize online poker and casino games for people in Michigan. He did it, actually. Iden worked closely with former

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• Last year was a bittersweet one for online poker fans in Michigan and those watching from across America. Lawmakers went to great efforts to find consensus on internet gaming bills, and support grew as the year progressed. Hope lived that Michigan would become the fifth state to legalize online poker

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• It was impressive. On the last day of the 2018 legislative session, late in the day and then into the night, just days before the Christmas holiday, Michigan lawmakers passed a bill to legalize and regulate online poker and casino games. The Lawful Internet Gaming Act traveled leaps and bounds

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• Michigan State Representative Brandt Iden continues to keep the hopes of poker players high as the holidays approach. As the last month of the year began, he gave his most hopeful and confident statement yet about the legalization of online poker and other casino games in 2018. Online poker supporters

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Famous Michigan Poker Players

A great number of famous poker players have hailed from Michigan.

Some might remember the 2013 World Series of Poker Main Event winner Ryan Reiss, who won more than $8.3 million for that one tournament. Going back a bit further, Joe Cada was the 2009 WSOP Main Event champion, who won more than $8.5 million for his victory. (Cada has won three more WSOP bracelets since then.)

Dan Heimiller is a longtime poker pro, taking third place on the Michigan leaderboard after Riess and Cada, with online poker player Jeff Gross coming in fourth on the list. David Baker – formerly known as DBakes – got his start in online poker and played a fair amount of live and online throughout his poker career.

As of 2020, these were the top players in the category of Michigan natives and their lifetime live tournament earnings:

1. Ryan Riess ($15 million)
2. Joe Cada ($14.3 million)
3. Dan Heimiller ($6.3 million)
4. Jeff Gross ($3.3 million)
5. David Baker ($3.2 million)
6. Nicolas Manion ($2.9 million)
7. Ping Liu ($2 million)
8. Dash Dudley ($1.8 million)
9. Anthony Gargano ($1.8 million)
10. Dean Hamrick ($1.7 million)

Sources & Citations For This Article on Michigan Online Poker