September 30, 2013 (Lakeside) -- A world-famous gambler and poker player known for the largest and longest documented winning streak in gambling history has been charged in a card-marking scheme at Barona Casino, the District Attorney’s Office announced. He reportedly cheated the casino out of more than $8,000.
Anargyros Karabourniotis, 62, also known as ‘Archie Karas,’ was caught, by the Barona Gaming Commission, marking cards at the casino’s blackjack table in Lakeside back in July, the DA’s Office said. He was arrested at his Las Vegas home on Tuesday and will be extradited to San Diego to face charges of burglary, winning by fraudulent means and cheating.
“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,” said District Attorney Bonnie Dumanis.
The Nevada Gaming Control Board had previously investigated Karas on multiple occasions resulting in four arrests.
Karas is best-known for his winning streak from 1992 to 1995 when he turned just $50 into $40 million. He went on to gamble away his fortune that same year. He is considered by many to have been the greatest gambler of all time and has often been compared to Nick the Greek, another high stakes gambler. Karas himself claims to have gambled with more money than anyone else in history.
San Diego County has 18 federally-recognized Indian tribes and 10 Indian casinos, more than any other county in the United States. Nationwide, industry experts estimate that casinos lose tens of millions of dollars every year in various cheating scams.
Cheating casinos also means cheating taxpayers, since Indian casinos contribute $7.5 billion each year to the California economy.