Barkley admits huge losses, big gains while gamblingAssociated Press


PHOENIX -- Basketball Hall of Famer Charles Barkley admits he has a gambling problem, but said Monday that he's several thousand dollars richer after returning from Las Vegas.

In an interview with Phoenix television station KTVK, Barkley said he won "about $700,000" over the weekend.
"That was all profit [from] blackjack and I bet on the Super Bowl. I had the Colts," Barkley added. "I played a lot of blackjack."

Barkley did not say how much be bet on Sunday's game in which Indianapolis beat the Chicago Bears 29-17 in Miami.

In an ESPN interview in May 2006, Barkley estimated that he'd lost about $10 million gambling over the years.
He said Monday that he lost $2.5 million "in a six-hour period" one night last year.

"It's a stupid, bad habit. I have a problem," Barkley said of his gambling. "But the problem is when you can't afford it. I can afford to gamble. I didn't kill myself when I lost two and half million dollars … I like to gamble and I'm not going to quit."

Barkley, who lives in the Phoenix area, was elected to the Hall of Fame last year.

He averaged 22.1 points and nearly 12 rebounds in a 16-year career that included stops in Philadelphia, Phoenix and Houston. He was the league's MVP in 1993 with the Suns, and he won gold at the 1992 Barcelona Olympics as part of the original U.S. Dream Team.

Copyright 2007 by The Associated Pr

What's his current net worth?

^^^ there is no limit to that.

I ran into Barkley purely by accident, two summers ago. He was signing his book 'Who's Afraid Of A Black Man' at a book store. I walked in, noticed a line of people and panning to the end, there was Barkley, sitting at the edge of the table, waiting to start signing. I wasn't very impressed and remember it seemed strange to me for some reason, that he'd be signing books. This man made millions and millions of dollars. Rediculous amounts when he played. I'm not surprised that he has a problem. Jordan recently admitted that he had a severe problem with gambling and blew millions at the table. I guess you change when you start to acquire large amounts of money. I really don't know what to say about that.

Posted by holfresh:

Those guys who retired recently and made a decent amount of money can probably write those things off as losses on their taxes...The guys are probably structure like corporations at this stage in their careers...If you have earn more than 100 mil in your career, it's a good chance you are probably living off interest and money he is making from TNT...Shed not a tear at Charles Barley's Vegas Fubar...Worry about tax payer's like yourself money that is being blown in Iraq everyday....

[Edited by - holfresh on 02-06-2007 12:25 AM]

Yep, the war in Iraq is costing taxpayers roughly $285.7 million PER DAY.

Shed not a tear at Charles Barley's Vegas Fubar...Worry about tax payer's like yourself money that is being blown in Iraq everyday....

Oh believe me! I won't and I don't worry about things I have no control over. I especially don't worry about taxes, because it's not like it was ever mine to begin with.