Charles Barkley, Who Once Gambled $10 Million in 6 Hours, Lost a $50,000 Bet with Hall of Famer but for a Good Cause in 2005

Charles Barkley and Michael Jordan were once the best of friends before their beef began in the late 2000s. Despite being championship rivals, the two NBA legends shared a common love for golfing and gambling. MJ and Barkley spent a lot of time gambling and golfing together on golf courses. Moreover, Charles Barkley has also shared insights into his sports betting sprees on numerous occasions. He even claimed to have lost $10-15 million while gambling big. However, back in 2005, Charles Barkley lost a $50,000 bet against an NBA Hall of Famer for a charitable cause.

While Barkley has made smarter investment decisions to make a $70 million fortune for himself, he continues to be a part of sports betting events. Last year, Barkley admitted that he bet $100,000 on himself to finish in the top 75 at the American Century celebrity golf tournament. But his bet was canceled due to the self-betting prohibition rule under Nevada regulations. However, Barkley’s love for winning was once transcended by his humanity as he ended up losing a lot of money for a good cause.

Charles Barkley lost $50,000 for a charity

Back in July 2005, Charles Barkley made an appearance at the American Century Championship Golf Charity Event in Lake Tahoe, Nevada. The Phoenix Suns legend made a bet with NBA veteran Chris Webber and ended up losing it.

As per Imago, “NBA Basketball Herren USA great, Chris Webber won a $50,000 bet with former NBA star CHARLES BARKLEY, to go to his favorite charity the final day at the American Century Championship golf held at Edgewood golf course on the shore of South Lake Tahoe. The event was for Dan Marino s Autism Speaks charity.”

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Barkley wagered $50k during his bet with Webber at the charity event that was organized to collect funds for the treatment of people suffering from autism. The Phoenix Suns legend has been a part of the golfing event over the years and has been an active contributor to charity events. While he lost on this particular occasion in 2005, Charles Barkley has been successful as well in his gambling endeavors.

Charles Barkley’s gambling saga

In a 2016 interview, Charles Barkley shared that he gambled for the sake of winning. The 11-time All-Star reckoned that it was thrilling to win money while gambling. Moreover, Barkley revealed that he had won a million dollars at least 4-5 times.

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The NBA Hall of Famer also admitted to losing $1 million or more at least ten to fifteen times. Also, Chuck claimed that he had once lost $10 million in a span of just six hours. Thus, while Barkley earned millions with gambling, he lost upwards of 10-20 million dollars.