Charles Barkley, 61, who boasts a net worth of $60 million, recently opened up about his gambling experiences in a candid conversation with Shannon Sharpe on the Club Shay Shay podcast. The former NBA star shared the highs and lows of his gambling journey, offering a glimpse into the impact it had on his life.
What Sparked Barkley’s Longtime Love for Casinos?
Charles Barkley, celebrated as one of the NBA’s greatest players, has been vocal about his love for casinos. Known not only for his basketball prowess but also his significant net worth, Barkley’s wealth stems largely from his lucrative 10-year contract with TNT, which pays him over $10 million annually. However, his affinity for gambling has led to substantial financial losses over the years.
How Much Has Barkley Lost Gambling?
During his appearance on the podcast, Barkley shockingly revealed that he has lost approximately $25 million through gambling. “I love to gamble, I love to gamble,” he confessed to Sharpe. Despite his love for gambling, the habit has come with a hefty price tag, impacting his financial stability at times.
What Are the High Stakes of Barkley’s Gambling?
Barkley’s gambling exploits were particularly intense in Las Vegas, where he frequently played $25,000 hands. This high-stakes gambling often resulted in significant wins and losses. “There have probably been seven times when I won a million dollars,” Barkley stated. “But there have probably been 25 times when I’ve lost a million.”
The 1993 NBA MVP admitted that his gambling habit once spiraled out of control, leading him to take a two-year hiatus due to the adverse effects it had on his life. Nevertheless, he missed the excitement and thrill that gambling provided.
What Is Barkley’s Gambling Mentality?
Barkley explained his approach to gambling, highlighting how his persistence in chasing big wins often led to prolonged gambling sessions. He recounted moments when he would continue playing until he won a million dollars, despite multiple winning days of $600,000 to $700,000. “We’d be sitting there, I’d get up, and my friends would say, ‘Chuck, we’re going to spend the night.’ And my head would say, ‘No, we’re not leaving this son of a bitch until I win a million dollars,’” he shared.
What Is the Emotional Toll of Gambling on Barkley?
The emotional impact of gambling was profound for Barkley. While winning brought immense joy, the losses were devastating. “I felt very elated [when I won], but when I lost a million, I got very depressed,” Barkley admitted. The depression stemmed not just from the financial loss but also from the emotional strain of losing.
Barkley noted that the negative feelings from losing often overshadowed the elation of winning. “No matter how good it feels to win, when you lose, it just sucks,” he said, emphasizing the emotional rollercoaster that gambling entailed.
How Did Barkley Change His Gambling Mentality?
To better manage his gambling habits, Barkley had to alter his mindset. He realized that continually chasing losses was unsustainable. “You can’t break the casino, and since I developed that mentality, gambling is a lot more fun for me, to be honest,” he remarked.
Barkley shared this shift in perspective during an interview with Graham Bensinger a few years ago. This new approach allowed him to enjoy gambling without the intense pressure of winning large sums, making the experience more enjoyable and less stressful.
What Are Barkley’s Golden Years and Famous Friendships?
A significant portion of Barkley’s wealth came from his illustrious basketball career during the 1980s and 1990s. During this era, he was one of the most prominent figures in sports. Barkley’s fame also extended to his friendships with other well-known gamblers, including Michael Jordan.
Barkley and Jordan often played poker together, along with other NBA legends like Scottie Pippen and Magic Johnson. Barkley humorously noted that Jordan would attempt to “buy” the pots, leveraging his greater financial resources to outbet his opponents.
Conclusion
Charles Barkley’s candid discussion on the Club Shay Shay podcast sheds light on the complexities of his gambling experiences. While his love for casinos has led to significant financial losses, Barkley’s ability to reflect on and alter his mentality has allowed him to enjoy gambling in a healthier manner. Despite the emotional ups and downs, Barkley’s story serves as a reminder of the importance of managing one’s habits and maintaining a balanced perspective.