Losing $1B Playing Video Poker!?

[FloridaPhil]

I read in this morning's paper that former San Diego mayor Maureen O'Connor supposedly lost an estimated one Billion dollars playing video poker. I'm trying to get my mind around this.  Is this even possible? 

[Eduardo]

I saw the same story, but I thought it said a billion in winnings, and losses reported. So not a full billion in a hole, but she was financially ruined so she obviously lost a lot. That must have been some real high limit play!

When I first saw the headline I wasn't surprised, because politicians lose a billion gambling our money every day. I was shocked to read that they could blow through that much on video poker.

[FloridaPhil]

I assume the highest Video Poker game available is $100 a point.  At 600 hands and hour, that's $300,000 through the machine every hour...  I'll bet she had a stack of W2Gs a mile high. I wonder if the casino ever trys to stop someone from gambling like that?   I would think not...   

[shadowman]

I believe she lost $13 million in 10 years. Still pretty bad but the billion dollar remark is nonsense.

[BillyJoe]

The story that I saw was that, over a ten year period, she had $1 Billion in casino winnings, with losses that exceeded that amount. She had embezzled her 'bankroll' from a charity organization.



 
Pretty good 'Advantage Play' if you don't get caught, not losing your own money.

[DezJeep]

I used to see her at Barona Casino in the east county of San Diego years ago.  She's a politician...automatic criminal.

[davidearl]

   Well, if she lost 13,000,000, rather than win, that would be a 0.987% return on the dollar.         Dave

[mammajamma]

The story that I saw was that, over a ten year period, she had $1 Billion in casino winnings, with losses that exceeded that amount. She had embezzled her 'bankroll' from a charity organization.



 
Pretty good 'Advantage Play' if you don't get caught, not losing your own money. ;;And I had read that she inherited about 40 million dollars which was part of her bankroll.

[Videopokerjesus]

Imagine if she knew what she was doing and played some nice AA Poker?