Legendary gambler and high-roller Archie Karas, whom we just wrote about in our blog, has died at the age of 73, apparently from natural causes; he was in poor health. Karas lived a long and colorful life, running away from Greece as a teenager and finding his way to the United States, starting out by playing pool and poker and honing his skill - until he became widely popular for his winning streak in Vegas called 'The Run.'

Archie Karas, the audacious gambler whose name is synonymous with one of the most remarkable winning streaks in the history of Las Vegas, has passed away at the age of 73. Known in the gambling world as "The Greek," Karas is believed to have been in declining health for some time before his death.

Karas, born Anargyros Karabourniotis on the island of Kefalonia, Greece in 1950, lived a life as daring and unpredictable as the gambling tables he frequented. His journey to fame was as much a tale of resilience as it was of fortune, and his legendary winning streak, known as 'The Run' secured his place in Las Vegas folklore.

Humble beginnings

Karas' early life was marked by hardship. After a difficult relationship with his father, Karas ran away from home as a teenager and found work on a ship as a waiter. His voyage eventually brought him to the United States, where he settled in Los Angeles.

While working in a Greek restaurant, Karas discovered a pool hall next door and, over time, realized his natural talent for it. His knack for pool quickly transitioned to poker, and he began making a name for himself in Los Angeles' booming poker scene.

By the early 90s, Karas had accumulated $2 million from poker winnings. However, the highs of gambling can be fleeting. By the time he arrived in Las Vegas in 1993, Karas had lost his entire fortune, reportedly down to just $50.

The start of "The Run"

With little more than a few dollars and an iron will, Karas began building his fortune once again. A small winning streak at the poker tables led to a $10,000 loan from a friend. Armed with this, he turned $10,000 into $30,000 playing Razz, a variation of poker, and promptly repaid his friend.

What followed was the start of a fabled series of wins. Karas ventured into the pool hall, where he reportedly played an unnamed "wealthy pool and poker player." It's been rumored that his opponent was Bobby Baldwin, the 1978 World Series of Poker champion and an important casino executive. Over two months, Karas defeated this player for $1.2 million in pool, followed by another $3 million in poker.

Word quickly spread of Karas' streak, attracting the attention of high-stakes poker legends. Stu Ungar, Doyle Brunson, and Chip Reese, along with other poker greats, lined up to take on Karas. Despite their skill, most of them left the table defeated. The only player to secure a win during 'The Run' was Johnny Chan, and he managed to walk away with $900,000. But Karas' fortunes were soaring - by then, he had accumulated $17 million.

The peak - and the fall

When the poker dried up, Karas turned his attention to pit games. At Binion's Horseshoe, he played craps with $100,000 per roll, and his fortune climbed to an astonishing $40 million. At his peak, Karas had wiped out the casino's highest denomination chips.

But in the world of gambling, even the hottest streaks eventually cool. Within three weeks, Karas lost $30 million. After a short break in Greece, he returned to Las Vegas only to lose the remaining $10 million. His spectacular rise and equally dramatic fall became the stuff of legend, often cited in books and documentaries on gambling history.

A tarnished legacy

While 'The Run' cemented Karas' fame, his reputation later became tainted. In 2015, the Nevada Gaming Commission voted to place Karas in its notorious Black Book, barring him from entering any Nevada casinos. The commission cited numerous infractions, including cheating at blackjack tables, dating back to 1988.

Though the ruling clouded his reputation as a gambler, Karas remained unapologetic about his approach to life. In a 1995 interview with Cigar Aficionado, he reflected on his relationship with money, stating, "Money means nothing to me, I don't value it. I've had all the material things I could ever want... The things I want, money can't buy: health, freedom, love, happiness."

Archie Karas allegedly passed away broke, but his legacy as one of Las Vegas' most daring and memorable gamblers remains intact. Despite his later controversies, 'The Run' is remembered as an unparalleled feat of courage and fortune in the high-stakes world of gambling.