For the majority of people, gambling is a form of entertainment and with the first online casino being opened in 1994, it’s become widely accessible. You no longer have to travel to a casino to play and win big.
Travelling or not, some people turned gambling into a profitable career. Just like in every other profession, there are names that stand out. Some of these names have become synonymous with the casino games they’ve played, while the others have become successful in other ventures.
Let’s explore who the richest gamblers in the world are and what they did to climb the career ladder that led them above the clouds.
Kerry Packer ∼ $5.0bn
- Famous for playing: blackjack and other casino games
Kerry Packer is one of the players ready to pay a lot of money and he’s known for being a high roller. He’s lost some serious dough, especially in 1999, where he recorded a $22.06 million loss.
But, this also means that he has won a lot of money. Playing blackjack for $250,000 per stake, he managed to win $20 million at one occasion.
He has won a part of his money through gambling, but most of this comes thanks to his family’s business empire. Still, due to his tendency to play big and spend time in casinos around the world, he has made a name for himself in the gambling community. He might not be one of the best gamblers in the world, but he’s certainly one of the famous names.
Tony Bloom ∼$1.7bn
- Famous for playing: sports betting and poker
Anthony (Tony) Bloom is a poker legend and a football club chairman, so it’s no surprise that you can find his name in the UK’s rich lists. He is the owner of the UK's biggest gambling consultancy syndicate Starlizard, a company that is believed to make hundreds of millions of pounds each year.
The company’s workers use complex methodologies, as well as their understanding of the game, to make football odds that are even more precise than the ones offered by bookmakers. These odds are then sold to certain punters so they can beat the market and generate long-term winning returns.
In 2009, Bloom took control of Brighton & Hove Albion football club and oversaw promotion into the Premier League in 2017. It is believed he has invested over £200 million into Brighton, while also giving a £93 million in 2011, so the club could move into a modern stadium with a bigger capacity.
Bloom started gambling as a child, as he used his pocket money to spin the reels of the fruit machines which continued on to his teenage years. He even used a fake ID in order to place a few bets at the meagre when he was 15. After working as an accountant, and later as a trader, he decided he wanted to become a professional sports bettor and enter the circle of rich gamblers.
Bill Benter ∼ $1.0bn
- Famous for playing: blackjack, horse racing
A mathematics genius, Bill Benter studied physics at the university and, after getting his degree, he decided to use his knowledge to count cards at blackjack tables. In fact, he has improved his methods with the little help of Edward Thorp’s book.
After 7 years of bringing the house down, Benter ended up being banned from most of Las Vegas casinos and moved to Hong Kong. According to gambling statistics, Hong Kong isn’t the biggest hub for players, but that may be the reason why he and Alan Woods created a formula that later helped gamblers predict the outcome of horse races.
More notably, he helped in the creation of the world’s first software-assisted gambling operation which is identified as one of the most successful ones. The rumour has it that Bill Benter makes $100 million annually, often raking in $5-$10 million in a single race day which makes him the richest gambler in the world.
And, apart from being one of the most famous professional gamblers, he’s also known as a philanthropist and a big donor to charity and political groups.
Edward Thorp ∼ $800m
- Famous for playing: blackjack, baccarat
As a mathematics professor with a master’s degree in physics and a doctorate degree in mathematics, Thorp had above-average intellect. Known as “the father of card counting”, Edward Thorp invented the original system and later used it in real-world situations.
What’s more, he is the author of the book: “Beat the Dealer: A Winning Strategy for the Game of Twenty-One” which detailed his card counting as well as his revolutionary point system that has been successfully used by card players all over the world. He was the first player to use a computer simulation to develop his blackjack strategies, and later invented card-counting methods that very much helped improve players’ odds.
Thorp studied blackjack in a systematic method and thoroughly examined every part of it. He became the attraction for casino bosses when he began winning insane amounts of money filling his pockets with cash. Eventually, Thorp applied his intelligence to the stock market and made a fortune in securities and hedge funds.
Allan Woods ∼ $700m
- Famous for playing: blackjack and horse racing
Alan Woods was a genius who used his mathematical skills to become one of the most advantageous players and the richest gamblers of the twentieth century. With a strong focus on blackjack and betting on horse racing, he has managed to make a fortune worth hundreds of millions.
Spending time in Australia and Hong Kong, Woods managed to become one of the biggest gamblers in the world.
Zeljko Ranogajec ∼$600m
- Famous for playing: blackjack, horse racing, keno, sports betting
Known around the globe as “The Joker”, and one of the richest gamblers in the world, Zeljko Ranogajec is a master mathematician who studied banking, finance, and tax laws. He is a famous Australian businessman and professional gambler with an estimated annual betting turnover reaching hundreds of millions.
Although he enjoyed playing various types of gambling, Ranogajec mastered blackjack card counting and started making profits while placing bets at casinos in Australia. Holding a record for winning $7.5 million on keno, he's known as the one of the world's richest gamblers.
According to the Daily Mail, Ranogajec studied Commerce and Law at the University of Tasmania in the 1980s, when he partnered up with a talented mathematician, David Walsh, to cash in at the casino. Although horse racing is Ranogajec's main focus, sports betting is also an area of interest. In spite of outlying almost $3 billion on gambling every year, this middle-aged man tries to keep his life private.
Billy Walters∼ $250m
- Famous for playing: sports betting
William Billy Walters, whose net worth is estimated to be $200 million, makes about $15 million a year and has once made $2 million in a single day. What’s interesting is that he is a high roller gambler, making bets as high as $3,5 million.
For almost 40 years, Walters has faced only one losing year with a 30-year winning streak. Due to his reputation, and being one of the most famous gamblers in history, Walters often used other people (including famous actors) to place bets on his behalf.
In 2017, he lost his biggest gamble when he was found guilty of insider trading after using non-public information from Thomas C. Davis, a board member of Dean Foods.
Dan Bilzerian ∼ $200m
- Famous for playing: poker
Known for his lavish lifestyle, Dan Bilzerian has caught the attention of many people by posting regularly on social media. Poker plays a significant role in his life and despite his antics, he’s a decent poker player.
He participated in the 2009 World Series of Poker and finished 180th. Although that’s not spectacular, it’s fair to note that he rarely plays in public and most of his games are private.
According to Dan, he can earn up to $50 million a night, but whether you believe him or not, well, we’ll leave this up to you. One thing is for sure. When you hear his name, you do associate it with poker (it might not be your first association) and that’s why his name is on our list.
David Walsh ∼ $200m
- Famous for playing: blackjack, horse racing, lottery
David Walsh has worked together with Zeljko Ranogajec and the first part of his “career” he spent at blackjack tables in Vegas.
He moved back to Tasmania where his focus became horse racing. He was working on a software that was able to predict the outcome of horse races and this is the key thing you should know about it.
As a mathematical genius, Walsh made a name for himself in gambling circles. He also loves spending money on games of luck. He once bought $11 million worth of lottery tickets and walked out with a $60 million jackpot.
Phil Ivey ∼ $120m
- Famous for playing: poker
Sometimes referred to as “The Tiger Woods of Poker”, Phil Ivey is famous for making his fortune playing the game. With his net worth of over $100 million, he is one of the most famous gamblers of our time. At age 38, Phil Ivey became the youngest player to win 10 World Series of Poker bracelets, one World Poker Tour title, and appeared at 9 World Poker Tour final tables.
With more than $15 million won in live tournament earnings, Phil Ivey was considered to be poker’s GOAT, and on top of the poker world with the greatest poker face known to the game.
What Constitutes a Winner in Gambling?
All these billionaires and millionaires have some things in common. They’re great mathematicians and they are brave enough to risk large sums of money to earn through gambling.
Truth be told they have safety nets, secured either through gambling or other business ventures, so risk carries a different weight for them. While the biggest slot machine wins are pure luck, all these gamblers mostly play card games, where you can calculate your chances of winning and utilise certain strategies to maximise your odds.
