Archie Karas

Childhood

Born on November 1, 1950, in Antypata, Cephalonia, Greece, Karas grew up in poverty. Nickolas's father was a struggling construction worker, and the family often went hungry. As a teenager, Karas shot marbles to earn money for food.

At 15, after a violent altercation with his father (who threw a shovel at him, narrowly missing his head), Karas ran away from home. He never saw his father again, as Nickolas died four years later. Karas worked as a ship waiter, earning $60 a month before arriving in Portland, Oregon, and eventually settling in Los Angeles.

Career

Karas began his gambling career in Los Angeles, working at a restaurant next to a pool hall. He quickly became a skilled pool player, earning more from hustling than his day job. When opponents dwindled, he turned to poker, where he repeatedly built and lost fortunes. By 1992, after losing nearly all his money, Karas drove to Las Vegas with just 50. Borrowing 10,000, he embarked on "The Run," an unparalleled winning streak that would cement his legacy.

The Run (1992–1995) Karas’s legendary streak included:

Turning 10,000 into 30,000 in Razz.

Defeating poker legends like Stu Ungar, Chip Reese, Doyle Brunson, and Johnny Moss.

Dominating craps and baccarat, betting up to $300,000 per hand.

Karas held over $40 million at his peak—only to lose nearly all of it in three weeks.

Personal life

Karas lived in Las Vegas but stayed connected to his family in Greece. He brought his mother, Mariana, to Vegas during his winning streak. His life was featured in documentaries and books, including The Man With the $100,000 Breasts by Michael Konik.

Revenue

At his peak, Karas won and lost over $40 million. His net worth fluctuated wildly, and he died without the vast fortune he once held.

Interesting facts

Karas once held all of Binion’s $5,000 chips, forcing the casino to order more.

He carried a gun for protection while transporting millions in cash.

Doyle Brunson called him the only player who could consistently beat him in Razz.

Legacy

Karas remains a gambling legend—a symbol of risk, reward, and the volatility of high-stakes betting. His story is a cautionary tale of fortune’s fleeting nature.