Nothing Else Matters

November 22, 2020 at 4:32 am

Nothing Else Matters

John Montagu

October 15, 2020 at 3:15 am

John Montagu Accomplished Gambler and Nobleman

John Montagu was not your usual professional gambler. He accomplished many great things as the 4th Earl of Sandwich. He negotiated treaties, sponsored a voyage through the Pacific and served as a captain of a regiment.

This extraordinary man was born in Cheswick in November 1718 and lost his father at the early age of 4. His mother got remarried, leaving him to be raised by his Grandmother and rarely seeing his mother. As a way to deal with the stress of his duties, he turned to gambling for comfort. His love for cards saw him spend endless hours around card tables, winning and losing thousands of pounds regularly.

The Impact of Gambling

Montagu first started gambling when in College. He was encouraged by his friends to join them at Horse Races, and when it came to this form of gambling, Montagu was too cautious.

As the years passed, he stopped betting on horses and started focusing on card games instead. He would spend hour’s playing cards, and his longest stint lasted 24 hours. He enjoyed convenience when eating during card games and would often ask his servants for pieces of meat between two slices of bread. He wanted this so he could hold the sandwich in one hand while holding cards in the other. Hence the birth of the sandwich because those who played against him started asking for “the same as sandwich.”

Know when to Quit

Once Montagu started playing cards, he did not know when to quit and would often lose thousands of pounds in one night. He, however, did enjoy a winning streak that paid for Captain Cook’s voyage through the Pacific Ocean where he discovered Australia and small islands, which he named The Sandwich Islands which are today known as the islands of Hawaii.

Montagu eventually depleted his savings due to his gambling habits, and when he passed away in April 1792 he was broke.

Do It

September 21, 2020 at 4:31 am

Do It

Brian Molony

August 21, 2020 at 3:16 am

Brian Molony The Banker and Gambler with a Secret

Brian Molony is a former compulsive Canadian Gambler and embezzler who was one of four children of a Toronto Doctor. He started stealing from his parents at the age of 10, to feed his addiction at the race track. Further to this, he also acted as a bookie for his school friends.

He graduated from the University of Ontario with the notion of being a financial writer; however, he did exceptionally well in the CIBC aptitude test, so the Canadian Bank placed him in their management training programme. Molony started off as a teller, then moved across to savings, current accounts, forex and loan accounting. He then floated between the bank’s vast network of some 1600 branches; giving him a broader insight into their workings and weaknesses. It was the start of his secret life that led to his ultimate downfall.

Gambling and Embezzlement

Molony led an unassuming life, ensuring he kept a low profile wearing inexpensive suits, leaving minimal tips at restaurants all whilst embezzling $10.2 million from Canadian Imperial Bank of Commerce to feed his gambling habits.

During his prime, he was betting up to $75 000 a hand by playing anything from craps to poker. He even dabbled in sports betting and once lost $800 000 when he placed a bet on a team that lost. On the other hand, he wagered $500 000 on a winning team at the Super Bowl, successfully doubling his money.

Brian Molony was arrested on April 27, 1982, the day after he lost a million dollars at Caesars Atlantic City Hotel-Casino. Molony pleaded guilty to embezzlement and was incarcerated. On release, he agreed to community service and a programme of restitution which included public speaking on the compulsion of gambling.

Today Brian Molony works as a management consultant and is also paying back the funds he stole. He is happily married with three children living in a modest home in Pickering, Ontario.