How Quebec Billionaire Guy Laliberte lost millions on Casino Games

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When compiling the list of the biggest online casino losers, the name Gus Hansen always comes up. The Danish professional poker player is believed to have lost over $21 million by March 2015. It has, however, come to everyone’s attention that Hansen may not be the biggest poker loser. The title goes to Guy Laliberte, a Canadian billionaire and poker player with over $31 million in losses. Throughout his gambling career, Laliberte splurged large amounts of cash in high-stakes poker tournaments, a trend that quickly lost him millions of dollars. So, who is Guy Laliberte, and how did he end up on the list of the biggest poker losers? Read on to find out.

Guy Laliberte – The Street Performer that Became Billionaire

Guy Laliberte is a Canadian professional poker player and billionaire behind the successful Cirque du Soleil, a renowned entertainment company and the world’s biggest contemporary circus producer. In 2018, Laliberte ranked 11 on the Forbes list of wealthiest Canadians, sealing his position as one of the richest businessmen in the nation. Laliberte started playing high stake poker in 2006, and after gaining enough skills, he competed in the World Poker Tour Season Five in 2007, in which he won $696,220. He also participated in Poker After Dark Season 4, where he competed alongside Phil Hellmuth, a renowned poker star with 16 World Series of Poker bracelets. However, the winning stint did not last as Laliberte started making losses that accumulated to $31 million. Most of the forfeits happened in some of the most renowned online gambling sites.

How Guy Laliberte Managed to Pile Huge Loses Playing Online Poker Games

Playing games at Canadian online casinos is often easy since all you have to do is open an account and begin staking on your favorite games. This is exactly what Guy Laliberte did; unfortunately, it is at this moment that his poker saga took a wrong turn. Immediately, Laliberte started engaging in online action; he quickly picked up a reputation for making huge losses. In fact, Laliberte, the Canadian businessman, ended up opening multiple accounts to not only hide from high stakes pros but also to ensure his losses went unnoticed. Laliberte spent a huge chunk of his time on Full Tilt, a renowned Irish poker card room that has been operational since 2004. He went ahead to open six different accounts, all of which accumulated losses, as shown in the list below:

  • Account noataima – $7,067,935 in losses
  • Account lady marmalade – $6,632,177 in losses
  • Account patatino – $5,924,546 in losses
  • Account Esvedra – $2,685,018 in losses
  • Account elmariachimacho – $4,161,884 in losses
  • Account Zypherin – $4,607,380 in losses

It is noted that Guy Laliberte would sometimes play using all accounts simultaneously. This explains why he could accrue such a massive amount of losses fast.

Always Opt for the Most Reliable Online Casino Operators in Canada

Guy Laliberte is just one of the many catastrophic examples of abusing the commodity of online casino entertainment. That’s why serious casino operators offer deposit-limit features, which can help players avoid this type of loss. Luckily players today are way more informed and smart to do some research before engaging in online casino action. Canada is an enormous iGaming market with a gazillion casino operators on display. So to narrow down the top CA online casinos, you will need assistance from certain experts. So the best way is to learn about top sites in Canada before you decide to engage in online gaming. Unfortunately, finding a proven and reliable operator that will provide you with fair terms and a safety net is not something you can find at each casino site at your disposal. Perhaps if Guy Laliberte took his time to do the same research and engage with a proven casino brand, the 31 million would still be in his pocket. But what can we say, c’est la vie.

Guy Laliberte’s Special Treatment at Tilt and Aftermath

After losing a large sum of money, Guy Laliberte disappeared from the world of poker. In 2014, he resurfaced with an interview in which he claimed he was cheated at Full Tilt. According to the billionaire, Full Tilt professionals like Tom Dwan, David Benyamine, and Phil Ivey were supplied with unlimited bankrolls, which they used to play ,poker games without any concerns. The statement caused different reactions among poker fans, with some players claiming that the loss was well deserved.

Today, live casinos can surprise you with multiple features. These include amazing graphics, skilled croupiers, and live chat functionalities. The top online casinos in Canada offering these services also have rules that all players must follow. For instance, they prohibit anyone from creating more than a single account. This explains why other poker players made it clear that Full Tilt management favored Guy Laliberte by allowing him to create more than one account. Remember, all the six accounts Guy Laliberte used to accumulate over $31 million in losses were opened at Full Tilt.

A Loss that Guy Laliberte Managed

According to different sources, Guy Laliberte net worth stands at a staggering $1.6 billion most of which he accumulated through his business endeavors. His net worth explains Laliberte did not feel a pinch losing over $31 million playing poker at Full Tilt Casino over six years. However, it is not the same reason why his name is rarely discussed when discussing the biggest poker loser.

Gus Hansen, who lost over $21 million, is more recognized because he accumulated the losses using a single account, unlike Laliberte, who held more than six online accounts with unrelated names. The loss saw Laliberte become less active in the online poker scene. He also sold his 10% share in Cirque du Soleil and decided to pursue new ventures. The last time Laliberte’s name came up was in 2019 when he was reportedly arrested for growing Marijuana on his private Island. Since then, he has been rumored to focus more on his philanthropic activities.

Rounding Up

Poker is by far one of the most enjoyable card games, both online and offline, with every participant applying special strategies to win. Despite his proficiency at the beginning of his career, Guy Laliberte did not seem to pay close attention to important gambling aspects, such as attention to bankroll management. This mistake saw him lose over $31 million. Despite his claims that Full Tilt cheated by giving top poker players unlimited bankroll, Laliberte did not register significant profits. This saw multiple players bash him for not being strategic. His loss is still not recorded as the highest in poker because of the multi-accounts approach which he used to mask his identity from poker pros at Full Tilt.

Other articles from mtltimes.ca – totimes.ca – otttimes.ca

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