Legends in the world of gamblers: Kerry Packer
Affectionately recognized as ‘Australia’s Greatest Gambler,’ Kerry Packer remains an iconic figure in the world of media and entertainment. Though his life and career primarily centered around his media empire and cricket contributions, his legendary gambling adventures are stories worth celebrating, making him a fitting addition to our Legendary Gambler series.
Kerry Packer, who is he?
Kerry Packer, born on December 17, 1937, in Sydney, was a prominent media mogul who later became one of Australia’s wealthiest and most influential individuals. His family held a controlling stake in the Australian Consolidated Press and the Nine TV Network, amassing a net worth of approximately $5 billion by 2004.
Packer’s lasting legacy also extends to the realm of cricket, where he orchestrated a significant transformation with his World Series of Cricket. Launched in 1977, this groundbreaking league lured some of cricket’s biggest stars, including Tony Greig, Clive Lloyd, Imran Khan, and Greg Chappell, away from international cricket, all seeking better financial rewards within Packer’s rebel competition. Despite multiple legal battles, the league disbanded in 1979, leaving an enduring mark on the sport and cementing Packer’s name in cricket’s history.
Why Kerry Packer is legendary in the gambling world ?
Kerry Packer’s status as a legendary gambler is attributed to his candidness about his passion for gambling, complemented by the multitude of enduring anecdotes. Here are some aspects that contribute to the legend of Kerry Packer’s gambling:
- The Texas Oil Baron: A legendary gambling tale involving Packer transpired during an encounter with a wealthy Texas oil magnate in Las Vegas. Frustrated by the oil baron’s extravagant behavior at the blackjack tables, Packer boldly asked the Texan about his net worth. With unwavering confidence, the Texan declared, “I’m worth $100 million.” Packer promptly retrieved a coin from his pocket and proposed, “I’ll toss you for it.” The Texan, put in his place, wisely declined Packer’s high-stakes gamble.
- Quitting While Ahead: While Packer was known for regularly wagering substantial sums, he also gained a reputation for knowing when to step away. Referred to as a ‘hit-and-run player,’ his presence alone made casinos nervous. They were hesitant to alienate a high-rolling patron, but also cautious about the prospect of being on the receiving end of a player who could reverse their profit and loss figures. Whether winning or losing, Packer was renowned for his generosity, leaving significant tips for casino staff. He once gifted a new car to a casino valet and wrote a $130,000 check to pay off a cocktail waitress’s mortgage. Following one of his multimillion-dollar wins at the Las Vegas Hilton, Packer reportedly left a $1.3 million tip to be shared among all the dealers who served him and another $100,000 tip for the lounge singer.
Kerry Packer’s larger-than-life persona and legendary gambling tales continue to be celebrated and shared to this day.
Kerry Packer’s Most Remarkable Victories
With a gambling legacy as rich as Kerry Packer’s, there is no shortage of tales about his colossal wins. Let’s delve into a few of the most noteworthy triumphs:
Winning $20 Million in 40 Minutes
Kerry Packer’s most iconic gambling triumph unfolded at the MGM Grand in Las Vegas in May 1995. It is etched in history that he claimed a staggering $20 million in just 40 minutes, all while engaged in a game of blackjack. Placing bets of $250,000 on as many as eight tables simultaneously, Packer’s extraordinary winning spree remains one of the most celebrated events in Las Vegas lore.
Monumental Success in Horse Racing
Kerry Packer’s gambling ventures extended well beyond the confines of casino tables, and horse racing was one of his fervent passions. His wagers and subsequent victories were so legendary that bookmakers trembled at the mere sound of a call that began with, “Packer here…”.
One of his standout moments occurred when he staked nearly $1.5 million on Might and Power to triumph in the 1997 Melbourne Cup. Against the odds of $4.50, Might and Power indeed clinched the race, solidifying Packer’s reputation as a horse racing aficionado.
The following year, Packer elevated his legendary status by placing a quinella bet on Jezabeel to secure first place and Champagne to finish second, once more against the odds, this time at $7.00. His bets spanned various betting rings in Melbourne and Sydney, causing significant financial distress for many bookmakers and etching his name into the annals of legendary gambling victories.
Kerry Packer’s Most Notable Gambling Setbacks
Given Kerry Packer’s illustrious gambling career, it’s no surprise that he encountered his fair share of losses as well.
A £16.5 Million Loss at Crockfords
Kerry Packer was no stranger to London’s renowned establishment, Crockfords, and he never missed a chance to visit whenever he found himself in the UK. In 1999, he embarked on another visit to Crockfords, aiming for yet another legendary victory.
However, things took an unfortunate turn as Packer experienced a record-breaking loss, marking the largest gambling loss ever recorded in the UK. Over the course of a harrowing three-day losing streak, Packer’s losses amounted to a staggering £16.5 million.
Stranded in Vegas on 9/11
September 11, 2001, will forever be etched in history for the tragic events that unfolded in New York. Nonetheless, an intriguing Kerry Packer gambling story is intertwined with this date.
Following a weekend of high-stakes gambling in Las Vegas, Packer was set to depart Sin City with several million dollars in profits. However, due to the catastrophic events unfolding in New York, his flight was grounded. Faced with the delay, Packer decided to try his luck at the tables. Unfortunately, fortune did not favor him, and his considerable profits transformed into a loss exceeding $6 million.
Kerry Packer now
Regrettably, Kerry Packer passed away on Boxing Day in 2005 in Sydney, Australia, shortly after celebrating his 68th birthday. Towards the latter part of his life, he confided in his cardiologist that he felt he was “running out of petrol,” as he declined dialysis treatment that might have prolonged his life.
On February 17, 2006, a state memorial service was conducted at the Sydney Opera House. Notable attendees included figures like Tom Cruise, Russell Crowe, and Richie Benaud.
Though no longer with us, Kerry Packer undeniably left an indelible legacy as a prominent businessman, a trailblazing figure in cricket, and a legendary gambler.
