GATEWAY-PROJECT.ORG.UK

Kakavas grew up in Melbourne Australia and worked as an Estate agent for Colliers Jardine. He began betting at sportsbooks in 1993, which led to a gambling addiction. To fuel his gambling addiction, he had his parents mortgage their house and borrowed money from his friends. In 1998 he served four months in jail for a $286,000 fraud that he committed for gambling funds... His gambling intensified with the more properties he sold and the more money he made. He became a regular at The Crown Casino in Melbourne, and this is where he lost the $1.5billion betting $300 000 a hand on Baccarat. There were times that he won, but he always landed up putting it back and finally started borrowing from friends, families, lawyers and banks to fund his habit... Despite being banned previously by the Crown Casino, he threatened to sue them if they didn't uplift the ban. They subsequently allowed him to play again and wined and dined him by flying him on holidays to the Philippines in private jets..

Primary location: United Kingdom