Amazing Facts About The Millionaires In The Gambling Industry

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Extremely wealthy gamblers are often called whales. This term refers to the large amounts of money that these gamblers bet along with their potential to bring casinos huge profits. Gambling establishments know that they can win serious money off whales. But sometimes, they also lose big to these gamblers too.

Amazing Facts About The Millionaires In The Gambling Industry

A number of millionaires and billionaires have beaten the house for large wins. These ultra-rich bettors have won fortunes off fellow Poker players too.

Let’s have a look at a few of them

1. Bill Benter

William “Bill” Benter developed one of the most successful computer software programs in the world that helped him overcome the Hong Kong horse racing market, but he certainly didn’t stop there. He has moved into the United States and other Asian countries, reportedly bringing home over $10 billion dollars a year, making him one of the first professional gambling billionaires.

Not only is Benter a mathematical genius who came up with an extraordinary piece of online gambling, but he also is a thoughtful philanthropist who dedicates a lot of his time and finances to support government affairs, education-related causes, and many other organisations as well.

Benter was a too well-known face in casinos, so he decided to take on a form of internet gambling that allowed him to stay away from them, leaving him with no choice but to start online gambling on horseracing.

Using these results, Benter and his team created their own prices and probabilities, which they used to make bets that were usually always accurate. Benter is always looking for ways to improve his software, adding more variables to improve his bets.

2. Edward O. Thorp.

There’s a strong chance that the average person on the street has never heard of Edward O. Thorp. For those who engage in Blackjack or hedge fund management on a regular basis, his name may loom as large as anyone else in those fields of endeavour.

If you fall into the former category, it’s our hope that this Edward Thorp biography can familiarise you with one of the titans of statistical online gambling.

First presented in Edward Thorp’s book, Beat the Dealer, the 10 Count System is a method that allows players to increase their odds of winning while playing blackjack. It’s by no means the earliest example of a card counting system, but it’s notable for being the first made widely available to the general public. The importance of this fact can’t be overstated, as it opened up online gambling and the game of blackjack to a whole new pool of players.

Word of Thorp’s system and exploits soon spread throughout the close-knit community of serious gamblers, and the mild-mannered professor was inundated with requests for his secrets. Thorp had always enjoyed the intellectual challenge more than the financial benefits, so he decided to put his thoughts and theories into book form and make it available to anyone who was interested.

3. Zelijko Ranogajec

Zeljko originally started playing Blackjack during work breaks. He liked the game so much that he learned multiple card counting strategies.

Ranogajec had such strong mathematical abilities that it didn’t take him long to learn and perfectly execute these counting methods. Zeljko continued counting cards with other teams and making countless profits. But Vegas casinos eventually made him as a counter and banned him.

Being banned in so many live casino games and having trouble transporting money, Ranogajec scaled back on his Blackjack play and focused on other advantage-play opportunities.

Nevertheless, Ranogajec has become a legend in the Blackjack community. He’s discussed on multiple Blackjack forums for having one of the most prolific card counting teams of all time. Ranogajec didn’t waste any time becoming successful with horse betting. He crafted his own strategy. He has also engaged in lotteries and the stock market in hopes of gaining an edge. Ranogajec has reportedly spent millions of dollars doing anecdotal research on stock and lottery advantage methods.

4. Billy Walters

A true legend in sports betting, Billy Walters father being a professional Poker, it was no surprise that Billy made his first bet at the age of nine. Almost 30 years later, he was running his own bookmaking service which was then illegal in Kentucky and for which he was fined $1,000.

He is the biggest and most feared sports gambler, however, lost his biggest gamble when he was found guilty of a $40 million insider trading case and could go to prison for years.

5. Phillip Dennis Ivey Jr.

He is an American professional Poker player who has won ten World Series of Poker bracelets, one World Poker Tour title, and appeared at nine World Poker Tour final tables. Ivey was at one time regarded by numerous poker observers and contemporaries as the best all-around player in the world. In 2017, he was elected to the Poker Hall of Fame.

As long as millionaires and billionaires continue betting big, there’ll always be huge casino bonus winners. That being said, you can expect more of these fascinating tales in the future as well.

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Author : Heather Heaton

Published Date : 26/09/2019