The Richest Gamblers in the World

How’s your progress with card counting, folks? Any major victories that make you feel proud? Well, even if you’re still on your way, no need to rush. Practice makes perfect. But you might be wondering why we’re discussing card counting in an article about the wealthiest gamblers. It’s simple – because it’s what nearly all of the biggest and richest gambling legends did when they began their careers as professional gamblers. We’ve shown you how to do it, we’ve recommended books that can assist and inspire you on your journey, and today we’re introducing you to the individuals who have achieved millions and even billions after starting with basic card counting techniques.

Published: 7 July 2017 Updated: 13 December 2023

Ready to discover the identities of the wealthiest gamblers? In this article, we will discuss seven individuals who hold the highest net worth in the gambling industry and delve into how they managed to achieve such success. Interestingly enough, a few of these individuals amassed their fortunes through playing online poker. Are you feeling motivated? If so, we are thrilled to provide you with our list of the top 10 online casinos in the UK, where your aspirations may very well become reality. Additionally, for those who enjoy the thrill of playing poker with live dealers, we recommend exploring the finest online casinos that offer this exciting feature. Alternatively, if you prefer playing slots, why not test your luck with the most enticing slot bonuses currently available? For roulette enthusiasts, our comprehensive guide to the best online roulette bonus offers in the UK is an excellent starting point. And for those seeking a wide range of games, be sure to check out our selection of the best casino welcome bonus offers.

It may be observed that none of the wealthiest gamblers globally accumulated their wealth through bingo. Nevertheless, even the most exceptional bingo platforms cannot rival the immense jackpots offered by poker, sports betting, and the finest online casino games for real money. However, if you possess a fondness for bingo, you just might become the first individual to join this esteemed roster. In the meantime, remain with us and peruse the inspirational tales of affluent gamblers before exploring the top 10 gambling sites.

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Bill Benter – The Richest Professional Gambler

Bill Benter, a brilliant mathematician, was born in 1957 in Pittsburgh, Pennsylvania. After completing his physics degree, he decided to apply his talents to card counting at blackjack tables in Las Vegas, refining his methods using Edward Thorp’s groundbreaking book, Beat the Dealer. After seven years of consistently outsmarting the casinos, Benter was banned from most Vegas establishments. However, his fortunes changed when he met Alan Woods and the two relocated to Hong Kong. There, they collaborated on developing a formula that could accurately predict the outcomes of horse races, effectively establishing the world’s first software-assisted gambling operation. This venture remains the most successful of its kind to this day. By the way, if you’re curious about the opportunities for online gambling in Pennsylvania and the numerous benefits it offers, feel free to explore the options. Alternatively, if you’re interested in playing casino games for free, why not take advantage of these no deposit casino bonus offers?

Benter was the mastermind behind the software’s mathematical calculations and, utilizing a wide range of variables, he refined and expanded it to analyze prices and identify the most advantageous opportunities. Following a falling out with his partner, Woods, Benter went on to work independently in Hong Kong, venturing beyond the limited number of race tracks in the area. It is believed that Bill Benter earns a staggering $100 million every year, often earning between $5 and $10 million in a single day of racing. Additionally, Benter is known for his philanthropy, generously contributing to charitable causes and political organizations.

Edward E. Thorp – The Father of Card Counting

Edward E. Thorp, the brilliant mind behind the concept of card counting, is our next featured wealthy gambler. For those intrigued by the idea of trying their hand at card counting in the realm of live online blackjack casinos, Thorp’s journey will surely captivate you. Born in Chicago in 1932, Thorp went on to earn a PhD in mathematics from UCLA and subsequently held a position as a mathematics professor from 1959 until 1977. What set Thorp apart was his groundbreaking use of computer simulation, specifically employing an IBM 704, to develop a highly effective blackjack strategy. Moreover, he devised innovative card-counting methods that significantly enhanced players’ odds of winning. Thorp put his theories to the test in various casinos in Reno, Lake Tahoe, and Las Vegas, ultimately confirming their validity. As word spread of his remarkable accomplishments, Thorp decided to share his knowledge with others, penning the iconic book Beat the Dealer. Regarded as the original and ultimate guide to card counting, this book has since become a staple for both novice and professional players alike.

In 1961, Claude Shannon and Ed Thorp collaborated to create the inaugural portable computer, which they utilized at the blackjack and roulette tables until it was prohibited in 1985. Presently, these counting devices are not particularly useful, particularly if you’re gambling on live casino Canada platforms. Ed Thorp, a distinguished figure in the world of blackjack, has even earned a place in the prestigious Blackjack Hall of Fame. Additionally, he devised the “Thorp count” system for backgammon and established a baccarat syndicate. Nonetheless, when it comes to playing blackjack at the finest live casino in India, one’s success is primarily reliant on chance.

In the 1960s, Thorp utilized his expertise in probability and statistics to navigate the stock market, while also pioneering and implementing successful hedge fund strategies in the financial markets, amassing a fortune estimated to be $800 million. We have curated an article highlighting the premier gambling platforms featuring slots that attract affluent gamblers on online slots sites in the Philippines.

“Life is comparable to perusing a novel or completing a marathon. It’s not solely about attaining an objective, but rather about the expedition itself and the encounters encountered throughout” Edward E. Thorp.

Zeljko Ranogajec – Lifestyle of the Rich and not Famous

Born in Australia to Croatian immigrants, Ranogajec made the decision to leave university and pursue a career in advantage gambling. He embarked on his journey by playing blackjack and utilizing advanced mathematical strategies, combined with his remarkable photographic memory, to transform modest hundred-dollar bets into impressive seven-figure victories. As a result of his remarkable success, Ranogajec found himself banned from the majority of Australian casinos, prompting him to shift his focus to horse betting. Undeterred, he continued to harness his exceptional mathematical abilities to accurately predict race outcomes. As the story goes, his unwavering dedication to this pursuit has propelled him to billionaire status. Maintaining an exceptionally low profile, Ranogajec has remained tight-lipped about his endeavors, leaving his net worth as a subject of mystery. It is rumored, however, that his wagers account for a substantial 6-8% of Tabcorp’s annual turnover, with his expenditures reportedly reaching a staggering $1 billion. When considering these astounding figures, it becomes clear that Ranogajec is undoubtedly one of the wealthiest individuals in the realm of gambling.

A person with inside knowledge of the family has characterized him as an individual with a fortune exceeding several billion dollars and although these are all conjectures, he has gained recognition for achieving an unprecedented victory in the game of Keno, amassing a staggering $7.5 million in the 1990s. In the year 2008, Ranogajec pursued legal action against his bookmaker and divulged that his syndicate had accumulated more than $44 million through wagers placed on American horse racing within a span of three and a half years. Additional reports indicate that he is currently engaged in a $900 million dispute with the Australian Taxation Office regarding tax obligations.

Billy Walters – The Biggest and Most Feared Sports Bettor

Billy Walters, a true sports betting legend, emerged from humble beginnings in Munfordville, Kentucky, where he and his siblings were raised by their grandmother. If anyone deserves to be counted among the wealthiest gamblers in the world, it is undoubtedly him. Growing up with a professional poker player for a father and a professional gambler for an uncle, it came as no surprise when Billy placed his first bet at the tender age of nine. Nearly three decades later, he was operating his own bookmaking service, a venture that was illegal in Kentucky at the time and resulted in a $1,000 fine. Unfazed, he packed up his belongings and headed for Las Vegas. While little is known about his specific operations or whether he has dabbled in the realm of the best free spins casino sites, Billy himself attributes his success to his collaboration with numerous analysts who aid him in making informed decisions.

Reports suggest that his annual income is around $15 million, and he has even earned up to $2 million in a single day. His total assets are estimated to be $200 million. This figure is not surprising considering the extremely high bets he places, sometimes reaching as high as $3.5 million. However, it is important to note that he does not personally place these bets anymore. For several years, he has relied on others to do it for him, as he is no longer welcome in Las Vegas and most bookmakers refuse to accept his bets. Interestingly, he has enlisted the help of famous Hollywood celebrities like Bruce Willis and Ashton Kutcher to carry out his tasks. Despite his reputation as the most formidable sports gambler, he faced a significant setback when he was found guilty of a $40 million insider trading case, which could result in several years of imprisonment.

Phil Ivey – The Biggest Online Cash Game Winner Ever

Phil Ivey, an American professional poker player, hails from California and was brought up in New Jersey. He gained fame for becoming the youngest player ever to win ten World Series of Poker bracelets. One of his notable victories occurred in 2000 when he defeated Amarillo Slim at a WSOP final table, securing his first bracelet. It’s not surprising that Ivey has achieved such success, considering that he began playing poker at the tender age of 8. His grandfather taught him the game of five-card stud poker, which sparked his passion for the sport. During his teenage years, Ivey even went as far as creating a fake ID to gain access to the casinos in Atlantic City, where he would compete against his colleagues from his job at a telemarketing firm. At the age of 20, Ivey turned professional. While the world of high-stakes poker can be daunting, there are still opportunities to benefit from generous live casino promotions.

Ivey ranks as the fifth highest-earning poker player in tournaments and has amassed a net worth exceeding $23,100,000, solidifying his status as one of the wealthiest professional gamblers. In recent years, however, his appearances have been more low-key. Nevertheless, in 2017, Ivey announced his imminent return to the game. It’s worth noting that until 2011, he held the title of the biggest winner in online cash games, with a staggering $19,242,743 in winnings from online poker. Ivey also garnered attention for the edge-sorting casino scandal. He won a whopping $12,000,000 while playing Punto Banco at the Mayfair Club, Crockfords Casino in London but found himself embroiled in a legal battle with the gambling establishment over payment. The casino claimed that Ivey and his playing partner, Cheung Yin “Kelly,” had employed the technique of edge-sorting. Despite his efforts to defend himself, the UK court ruled in favor of the casino, deeming his actions as cheating.

Alan Woods – Horse Races Betting Pioneer

The pioneer of horse racing software, Alan Woods, was born in Murwillumbah, New South Wales, Australia, in 1945. During the early stages of his gambling career, he utilized mathematical strategies to count cards at blackjack tables before relocating to Hong Kong in the 1980s. It was there that he joined forces with Bill Benter, forming a syndicate that would go on to achieve unparalleled success in the horse racing industry. Together, they created innovative software that incorporated various factors such as track conditions, previous form, and weather forecasts. Following their separation in 1987, Woods ventured to Manila and continued his remarkable winning streak by partnering with Zeljko Ranogajec.

Interesting Fact: Throughout his twenty-year tenure in Hong Kong, Alan Woods never once attended a racetrack in person.

The Woods syndicate, led by Woods himself, was believed to generate approximately 2% of the Jockey Club’s annual betting turnover. While Woods did not establish charitable organizations like Benter, he was renowned for his philanthropy towards the Filipino community. Additionally, he donated portions of his wealth to support mental health research and Australian bridge. As a true mathematician, Woods regarded horse racing as nothing more than a mathematical problem waiting to be solved. At the time of his passing in 2008, Woods was widely regarded as one of the world’s most successful and influential gamblers, with an estimated fortune of AU$670 million. If you’re interested in online casinos in Hong Kong and gambling in the special administrative area in general, you might find this page intriguing.

Patrik Antonius – A Successful European Poker Player

Patrik Antonius, a Finnish poker player currently living in Monte Carlo, had originally aspired to become a professional tennis player. Unfortunately, a severe back injury forced him to abandon his dreams of tennis stardom. However, Antonius soon discovered that poker could provide a satisfying alternative to his beloved sport. At the age of 18, he stumbled upon a local casino and, despite initial losses, persevered until he became a skilled player. In a stroke of luck, Antonius deposited $200 into his online casino account and, within a few months, transformed it into an impressive sum of $20,000. The rest, as they say, is history.

From 2009 to 2013, Antonius amassed a staggering $11 million from playing online poker. Additionally, between 2007 and 2016, he earned an extra $6 million from his online poker endeavors. Today, players in Canada have the opportunity to enjoy the thrill of poker while betting with cryptocurrencies at the finest Bitcoin casinos.

However, during various interviews, Patrik Antonius has expressed his belief that he is at a disadvantage when playing online poker due to the use of different software by other players to gain an edge. Additionally, Antonius asserts that he is self-taught and has never consulted a poker book or watched a video tutorial. The player is also renowned for his success in live poker tournaments, having earned close to $7 million. His most significant victory occurred in 2012 when he finished as the runner-up to Phil Ivey in the $250k Aussie Millions Challenge, resulting in a $1.2 million payout. Although he currently does not possess any WSOP bracelets, this is primarily because he has primarily focused on participating in poker cash games at the world’s top casinos. While it may not be quite like playing at the premier online scratchcards sites for UK players, online poker still offers plenty of entertainment and the opportunity to win substantial cash prizes. As previously mentioned, there are numerous international operators available for play, such as casino sites in the Philippines, where you can engage in secure real money games.

Frequently Asked Questions About the Richest Gamblers

After conducting extensive research, our team has gathered valuable information about the wealthiest gamblers who have graced the world’s finest casinos. Now, we are ready to provide you with a comprehensive understanding of this topic. Without any delay, we proudly present the nine most intriguing questions that have captured the curiosity of many.

Who is the richest gambler in the world?

Bill Benter, the world-renowned professional gambler, amassed his incredible wealth by mainly placing bets on horse racing events. He is widely regarded as the wealthiest gambler in history, with his net worth estimated to be close to 1 billion US dollars. Benter’s impressive income stems from his successful betting ventures as well as his lucrative business of licensing his proprietary software for horse race betting.

♠️ What games do professional gamblers play?

Typically, professionals often engage in blackjack or at least this is their initial choice. Edward E. Thorp, the creator of card counting, earned millions by playing blackjack. With the increasing difficulty of winning in blackjack, some individuals turn to alternative games such as roulette, baccarat, and casino hold’em.

Who is the most successful gambler?

William T. Walters, an American investor and entrepreneur, is widely regarded as the most accomplished gambler on the planet. Having spent decades playing in Las Vegas, Walters has recently decided to retire from his highly successful betting career. Born in 1946, Billy Walters can proudly claim to have accumulated more than 100 million US dollars in winnings throughout his illustrious 30-year journey.

Who is a famous gambler?

Every aspiring poker player is familiar with a number of well-known figures in the poker world. Phil Ivey, Daniel Negreanu, and Phil Hellmuth are just a few examples. However, it’s important not to overlook the contributions of Doyle Brunson and Amarillo Slim, who were both born in the early 1900s and continue to be active players in the poker community.

How much money can you make gambling professionally?

Even though it requires dedication and practice, you have the potential to succeed in becoming a profitable player. It is worth noting that there are professional players who continue to earn high incomes, ranging from six to seven figures annually. However, it is important to acknowledge that the majority of professional players currently earn between $40,000 and $100,000 per year.

Do professional gamblers pay taxes?

In simple terms, the answer is affirmative. The earnings of professional gamblers are subject to taxation in the same way as the earnings of self-employed individuals. They are legally required to declare their income only if gambling is their primary occupation and source of income. Hobbyists, on the other hand, are not liable to pay taxes.

What was the biggest win by professional gamblers?

A professional gambler named Antonio Esfandiari won the largest cash prize of $18,346,673. Esfandiari emerged as the lucky winner in the inaugural $1,000,000 buy-in Big One for One Drop tournament held in 2012. He outplayed 47 other participants to clinch the massive jackpot.

Who is the richest gambler in Europe?

Patrik Antonious, a native of Finland, holds the title of Europe’s wealthiest gambler. His total earnings from live tournaments are believed to be around $12 million. When it comes to online poker, Antonious has made a staggering $17 million using the aliases FinddaGrind and Patrik Antonious on Full Tilt Poker’s platform. Furthermore, his success in cash games played in person is equally remarkable.

Who is the richest gambler in US?

Phil Ivey is widely known in the world of poker, with a staggering record of over $23.1 million in live tournament earnings. However, his total winnings from tournaments and cash games exceed $100 million, making him potentially the wealthiest gambler in the United States.