Do you want to know who are the richest gamblers in the world?
Japan has agreed to a plan restricting people’s right to access casinos and other gambling establishments and also the removal of cash machines from these institutions as a solution to gambling problems. The schemes are already part of the opening of several casinos in the country.
We all know that everyone strives to achieve their goals of being successful in life. Some people see gambling as an easy way to reach their dreams. The richest gamblers in the world did not just do it instantly. They had to go through hard work and dedication to their craft. They learned how to embrace defeat and get back up from it. Here are some of the successful gamblers you can look up to and get inspiration.
Bill Benter was born in Pittsburgh, Pennsylvania, in 1957. He was considered a mathematics genius after finishing a degree in physics. With his skills to count cards, he decided to use it at blackjack tables in Las Vegas, upgrading his techniques with the guidance of Edward Thorp’s Beat the Dealer. Later on, most casinos in Las Vegas banned him, and he then moved to Hong Kong after he met Alan Woods. The two worked on a formula that would guide gamblers in predicting the outcome of horse races. It has been a successful formula, and it created the world’s first software-assisted gambling operation.
Benter formulated the mathematics that powers the software, and with the use of a series of variables to get the edge of the gambler, he re-created and made it bigger. The duo eventually separated, Woods went to Manila to work with Zeljko Ranogajec, and Benter stayed in Hong Kong, continuing his work beyond its small number of tracks. Bill receives $100 million yearly, making $5-$10 million in a single race day.
Edward E. Thorp came from Chicago in 1932 and held a Ph.D. in Mathematics from UCLA. He worked there from 1959 to 1977 as a math professor. Thorp was the first to utilize computer simulation to formulate a strategy for blackjack games. He used an IBM 704 and composed card-counting programs to enhance the players’ odds. Thorp tested his calculations in casinos in Lake Tahoe, Las Vegas, and Reno and verified his hypothesis. He wrote, “Beat the Dealer,” which is known as the first and best guide to card-counting for amateurs and professional players.
Thorp and Claude Shannon established the first wearable computer and used it at the blackjack tables and the roulette until it is not allowed in the year 1985. Thorp is a member of the Blackjack Hall of Fame and founded the “Thorp count” method for backgammon and also created a baccarat syndicate. He started using his knowledge on statistics and probability in the stock market during the 1960s and developed effective hedge fund techniques and applied in the financial markets bringing him an estimated fortune at $800 million.
Zeljko Ranogajec was born in Australia to Croatian immigrants. He pursued a career in advantage as he dropped out of university. Zeljko used math and his photographic memory in playing blackjack and was able to win 7-figure money. Eventually, his methods have banned him in most casinos in Australia, making him switch to horse betting and predicted races using his math skills and techniques. Horse betting has reportedly made him a billionaire. Zeljko is exceptionally private and has never given any interviews or talked about his businesses and net worth. He accounted for six to eight percent of the turnover of Tabcorp, with his expenditures reportedly as massive as $1 billion a year.
There are speculations that Zeljko is a multi-billionaire and is known for a massive win in Keno at $7.5 million in the 1990s. Zeljko took his bookmaker to court and disclosed his syndicate winning more than $44 million betting on US racing in a three-and-a-half-year stretch. There are also reports that Zeljko is battling a $900 million tax case with the Australian Taxation Office.
Bill Walters was raised together with his siblings by their grandmother in Munfordville, Kentucky. He is considered a legend in sports betting and one of the richest gamblers in the world. Bill's father was a professional poker player, and his uncle was a professional gambler making him a young bettor at the age of nine. Soon after, he ran bookmaking in Kentucky, but it was illegal. Bill then moved to Las Vegas and became successful working with analysts that guided him on his decisions.
Bill is reportedly making around $15 million annually and as much as $2 million in a day. He has an estimated net worth at $200million, considering he places high bets as much as $3.5 million. Bill uses other people to place bets for him sometimes. The reason for this is because he is not welcome in Las Vegas anymore. He even had Hollywood celebrities Ashton Kutcher and Bruce Willis running his errands. However, Bill lost a significant amount of money when he was found guilty of an insider trading case worth $40 million.
Patrik Antonius is a Finnish professional poker player who lives in Monte Carlo. Due to his back injury, he sacrificed his plans of becoming a professional tennis player. Patrik then found himself playing poker and made it as his substitute for tennis. Patrik started at the age of 18 with a series of losses, and he eventually improved and became a winner. He initially deposited $200 into his bank account and turned it into $20,000 in a matter of months. Between the years 2009 and 2013, Patrik produced over $11 million for playing online poker and another $6 million between 2007 and 2016.
Patrik said in his interviews that he feels a downside when playing online poker as players may utilize various software programs to gain an advantage. He also revealed that he is self-taught and has never used any poker books. Patrik is also famous for his live poker tournament winnings at $7 million. He still has no WSOP bracelet. However, his most significant win was in 2012, with $1.2 million finishing behind Phil Ivey in the 250k Aussie Millions Challenge. Despite this, Patrik is still among the richest gamblers.
Phil Ivey is a professional poker player, born in California and grew up in New Jersey. He is famous for being the youngest poker player to win ten World Series of Poker bracelets. Ivey was the first poker player to defeat Amarillo Slim at a WSOP final table and earned his first bracelet. Ivey’s success was no surprise bearing in mind that he started playing poker when he was only eight years of age. Ivey learned the five-card stud poker from his grandfather. Ivey was so inspired to play the game that he created a fake ID when he was a teenager to get into the casinos in Atlantic City. He became a professional player at the age of 20.
Ivey has an accumulated net worth over $23,100,000, making him the fifth most winning poker player in tournaments. He also won $19,242,743 for playing online poker, making him one of the biggest online cash game winners of all time. Ivey played in Punto Banco at Mayfair Club, Crockfords Casino in London but resulted in suing the gambling venture for not paying him. They refused to pay Ivey and his partner Cheung Yin “Kelly” for using a trick called edge-sorting. Ivey got involved in a lot of legal processes trying to win his position in the case, but the UK court ruled in favour of the casino. The judge ruled his actions as a form of cheating. Still, Ivey is among the richest gamblers, to date.
Alan Woods was born in Murwillumbah, New South Wales, Australia, in 1945. He was considered the godfather of horse racing software. In the 1980s, Woods moved to Hong Kong. During which he brought with him the ability to count cards at blackjack tables using math. He joined Bill Benter, forming a syndicate that became the most triumphant in the horse racing industry. The duo formulated software that considered components like the formulaic consideration of form, weather, track, and more. They eventually separated in 1987. Woods then moved to Manila, the Philippines to continue his success teaming up this time with Zeljko Ranogajec.
Woods became famous in Manila because of his generosity towards the Filipino community. He even donated sections of his fortune to mental health research and the Australian bridge. Woods has a perception of horse racing as “nothing more than a mathematical equation to be solved,” making him a real mathematician. Woods passed away in 2008. He is among the biggest and richest gamblers in the world, with an estimated fortune of AU$670 million.
Practice makes perfect, and this list of the richest gamblers in the world have done their work to put them where they are right now. Some books can help you develop your career and inspire you to achieve your goals. These gamblers started with a few simple card counting strategies and managed to make millions.