Melbourne’s Crown Casino Wins Case against Millionaire Harry Kakavas

By Debra SaundersGoogle
This month the case of a businessman who claimed a casino took advantage of his gambling addiction came to a final decision with the judge ruling in favour of the casino.

It will be a blow to poker player Phil Ivey who won $7.8 million playing Punto Banco, as once again the casino wins the case. However, Ivey may still be feeling confident as his case is slightly different. Instead it is him who took the casino’s money, and so maybe he will be feeling the judges always rule against the party trying to get hold of or hold on to money that isn’t really theirs.

As for Melbourne’s Crown Casino it was Harry Kakavas, who is a well-known Australian tycoon, who tried to get his money back from the casino because he felt the casino took advantage of his gambling problem. Part of his case was that he was lured to the casino by the casino sending him their private jet to get him onto the table games and losing his cash.

In court it was revealed that Kakava has lost A$20 million gambling in the Crown Casino, which took $17 million in US. This was just a rough figure, but still a large chunk of change to be allowing a customer to blow in just over a year. However, despite the high losses the casino was deemed to not have acted unconscionably. Instead it was Kakavas that was given the judges wrath, which was along the lines of the fact that Kakavas is a businessman perfectly capable of making rational decisions, and so his gambling losses were strictly down to his misjudgement and unlucky losses rather than being incapable of making a sensible decision due to a gambling addiction.

This is why managing your money at the tables is so important or you could end up losing control of your cash and suffer huger losses as did Kakava. You may not suffer losses as high as his, but that doesn’t mean you couldn’t lose everything. Plus, if that happens to you, you may not be in the same position as Kakava. He can make that money back or at least he is never going to live an uncomfortable life thanks to his high position in the business world.

Player do make money gambling, while some at least have fun and minimise their losses while gambling. The latter will pay for loss just for the entertainment value of playing in the casinos. Online casinos are the best place to play because they have great casino bonus codes that can assist you with your bankroll management.
For now it is Harry Kakavas who needs to take a step back and think about how he could have better managed his money.

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