Charles Barkley, a Great Basketball Player and Gambler

Charles Barkley has been remarkably open and candid about his gambling habits over many years. He views gambling as a recreational activity that he enjoys, often referring to it as a "bad habit" but distinguishing it from more serious addictions like drug or alcohol abuse. He has consistently stated that as long as he can afford to lose the money, he doesn't consider it a problem in the same vein. He acknowledges the excitement of winning, but also the disappointment of losing, which can sometimes lead to periods of depression for him.

Charles Barkley has publicly stated that he has lost significant amounts of money gambling, with estimates ranging from $10 million to as high as $25 million over his lifetime. He has recounted numerous occasions where he lost $1 million or more in a single session. For instance, he famously lost $2.5 million in about six hours playing blackjack. While these figures are staggering to most, Barkley maintains that due to his substantial earnings from his NBA career and subsequent broadcasting contracts, he can afford these losses.

Yes, Charles Barkley did take a hiatus from gambling. Following an incident in 2008 where he incurred a $400,000 debt to the Wynn Las Vegas casino and faced legal action, he stopped gambling for about two years. This period of reflection led him to adjust his approach to betting, though he ultimately returned to gambling.

After his two-year break, Charles Barkley returned to gambling with a modified mindset. He realized that "you can never break the casino" and adjusted his goals. Instead of aiming to win millions, he now seeks to win a few hundred thousand dollars. He has also imposed personal limits, stating that if he loses a few hundred thousand dollars, he will stop and still consider it a good trip. He emphasizes doing it in "moderation," which for him still involves substantial sums, but represents a more controlled approach than his past habits. He often mentions that the enjoyment comes from the action itself, but primarily from the potential to win.

Charles Barkley has admitted to using a bookie in addition to legal platforms like FanDuel. He humorously explained that FanDuel and similar major sportsbooks have limits on how much he can bet, necessitating a bookie "on the side" to accommodate his higher stakes. This indicates that despite the increasing popularity and accessibility of regulated sports betting apps, he still engages in more traditional, high-stakes betting methods.

While he is a self-proclaimed "gambling degenerate" and even a spokesperson for FanDuel, Charles Barkley has expressed concerns about the rising trend of live, in-game betting. He finds it "scary" that people can bet on specific outcomes within a game, such as who will score the next basket or if a player will make both free throws. He believes this type of betting is particularly dangerous and can lead to increased scrutiny and pressure on players from fans who have placed such wagers.