Some guys just don't know when to hedge their bets.

The richest man in Dallas lost up to $50 million over the past few months playing high-stakes poker. Andrew Beal, worth $6.6 billion, thanks to banking and real estate, must have lost his poker face.

The New York Post reports the Texas high-roller languished through a series of massive losses in at least three games where players paid a $1 million buy-in. A spokesman for Beal said reports of his losses are greatly exaggerated.

"Spider-Man" star Tobey Maguire is believed to have taken part in the game where the chips fell away from Beal.

It's not all bad news. Despite losing a reported $50 million, Beal once took home more than anyone in the history of Las Vegas, with $11.7 million at the Bellagio in Vegas, in 2004.

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