Lost 12 million dollars in one shoe of baccarat.

I remember about 17 years ago i watched a guy lose 12 million dollars in one shoe.
It did not occur to me until much later how unlucky you have to be to lose so much.
The differential was 500k and every bet was 500k.
You have to lose 24 more hands than you win. Very difficult to achieve just by betting on banker or player.
I think a card was burnt every hand and half a deck was cut off the back of the eight deck shoe. Maybe there was about 65 hands in the shoe.

Yeah, I estimate 65 hands for that shoe as well.

But that means he lost 63% of them. I don't see that as exceptional or beyond a reasonable negative expectation.

If he was betting only $25 per hand, he would have lost $600, and you would never have noticed.

Yes 63% is not that much.
But with such a small house edge losing 63% with a flat bet would not happen that often.
Any idea on once in how many shoes?
I have tracked quite a few big players and the most i have seen apart from that guy is 21 to 23 hands more than they win /lose.
It probably happens often with small players but its never come to my attention.

Quote: andrew888

Yes 63% is not that much.
But with such a small house edge losing 63% with a flat bet would not happen that often.

It seems to me that it is 68.5% . Still a bad run, but certainly not enough to scream fire.

yes if he lost 44.5 hands taking commission into consideration. Some Casino's would be screaming fire if it was the other way around.

I've personally seen it playing banker (-26 units) during one shoe - yes s**t happens. Sadly I've never had it the other way round!