Brian Molony: A Compulsive Gambler
It is pretty easy to fail in the world of gambling. It’s all fun and games until one becomes obsessed with it. The gambling experience of Brian Molony was certainly not great. He is currently known as a compulsive gambler who is mostly known for committing a huge financial scam to satisfy his need for gambling.
Why is Brian Molony a Famous Compulsive Gambler in Canada?
Becoming addicted to gambling does not depend on one’s age. You can develop a gambling addiction when you are 60 years of age or when you are just ten years old. The latter is the case with the subject of our article. Brian Molony is a Canadian gambler who acted as a bookmaker for his classmates when he was at school. It was clear that he was immensely fascinated with making money through any form of gambling. This, of course, had a major impact on his life. Let’s learn more about the compulsive gambler and the crime he committed.
Who Is Brian Molony?
Brian Molony is a Canadian gambler. He came from a good family. His father was a doctor, and his mother was a housewife who stayed home to look after Molony’s three siblings. When he was at a very young age, Brian’s father introduced him to racetrack, and within no time, the boy became absolutely obsessed with it.
Whenever there were sporting events at his school, Molony would act as a bookie. Although he was still young, he knew he liked to make more and more money. He was not that interested in buying expensive things or anything like that. He just wanted to generate as much money as possible through different methods.
Considering this interest of his, it is really not surprising that Brian Molony was to become addicted to gambling later in his life. He graduated from a university and had ambitions to become a financial writer. Brian had a girlfriend who supported him during the entire time.
Eventually, Molony applied for a job at the second-largest bank in Canada – the Canadian Imperial Bank of Commerce. Not only that, but he also did so well on the exam that he was offered a higher position almost instantly.
Brian Molony and His Addiction
Although Brian’s job position was somehow prestigious, he did not earn enough money. His annual salary was not very high, so he decided to increase his income by playing in casinos. At first, he bet responsibly and in line with his budget. However, it was not long before he increased the stakes, and at his peak, he was staking more than $70,000 a year.
At that time, there were still no Canadian online casinos, so Brian played in physical establishments. He gained experience in almost all types of casino games – poker, craps, roulette, etc. He even took his chances at sports betting facilities. One night, Brian laid a wager of $500,000 and managed to double that stake.
But as he earned more and more money, Brian also began to spend it in the blink of an eye. For example, he spent the $500,000 he won on a sports bet in just two years. Molony bought expensive stuff and was constantly travelling. It goes without saying that he was back to square one in no time, which meant only one thing – it was time to start earning from casinos again.
The Compulsive Gambler Brian Molony and the Committed Crime
Many underestimate the seriousness of gambling addiction. But as the case of Brian Molony shows, it can be just as bad as drug addiction. As you already know, the man started gambling regularly and kept increasing the size of his bets. Thus, he needed more money.
That’s how he became one of Canada’s best-known embezzlers. Brian decided to commit financial crimes and take money from his bank by applying for loans under aliases or withdrawing small sums from the accounts of rich customers. He intended to return all the money once he had earned enough from gambling. He had a few sessions in Las Vegas before being caught.
One night, he lost a million dollars at a craps table, and just before that, he said goodbye to $200,000 he had bet on sports. After one of his biggest losing streaks, the Canadian Imperial Bank of Commerce suspected the man and eventually found out what he had been doing for several months.
Unsurprisingly, a lawsuit was filed against Brian Molony, and he was sent to prison. According to certain information, he served two and a half years in prison, but other sources claim he was there for six years. In addition, the Ceasras Palace, the casino where Brian lost $1 million, was fined more than $30,000 by the NJ Casino Control Commission. The reason is that the employees did not ask Brian to provide information regarding his funds.
Frequently Asked Questions
We hope you found this read interesting. We certainly enjoyed learning more about the life of Brian Molony and were quite shocked to discover what he did as a result of his gambling addiction. In the next paragraphs, we will share with you some additional information about the gambler and his crimes.
1️⃣ Was Brian Molony's gambling addiction serious?
If you have read our summary about Brian Molony, you already know the answer to this question. He used to bet thousands of dollars every day. At the peak of his addiction, the compulsive gambler Brian Molony gambled $75,000 per year, and one time, he lost a million dollars while playing craps.
2️⃣ When did the addiction of Brian Molony start?
According to the information we've gathered about who Brian Molony is, the Canadian became obsessed with the idea of generating money through gambling from a very early age. His father stirred up his interest in the racetrack, and after that, every time there was a sporting event at Brian's school, he would act as a bookmaker.
3️⃣ What games did Brian Molony play the most?
The truth is that Brian Molony's addiction to gambling made him get intimately familiar with pretty much every casino game. He was skilled in craps, blackjack, roulette, and so on. There were also many instances when Molony would try to generate money by laying real money wagers on various sports events.
4️⃣ What crime did Brian Molony commit?
Brian Molony committed one of the biggest embezzlements in Canada at that time. Although he intended to repay everything he had stolen, he didn't get this chance. Molony was caught and had to serve time in prison for his crime.
5️⃣ Did Molony realise he had compulsive gambling addiction?
Whether you're playing at physical or online casinos, you should be aware of the risks gambling comes with. Unfortunately, Brian Molony neglected this and ended up in prison. As per our article about Molony, it took the Canadian gambler a long time before he realized he has a problem.