KeithMost people lose at gambling, however a tiny percentage of gamblers go on to become professional gamblers, YES, they do exist. Bill Benter is one such man.
Although initially, he was a loser at betting, with the will to win and inventing a mathematical system that finally worked, slowly but surely he worked his way up into the hall of fame of gambling as the world’s most successful gambler.
This is his story.
Bill Benter was born in Pittsburg, USA in 1957. Even as a child he had a fascination for mathematics. His love for numbers, problems and equations soon led him to pursuing a degree in physics at Case Western University, one of the top universities in the United States.
However, during his college days he found a far more interesting, and fun way of spending his time, – Card Counting. Like many people in the 1960’s and 70’s, Benter discovered Edward O. Thorp’s book “Beat The Dealer“.
Benter, 22yrs of age decided to jump on a bus, head to Las Vegas and try out Thorp’s theories. He got a job working in 7-11 as a salesperson, behind the counter for $3 an hour and each week he would use the surplus in his wages to gamble on the tables, testing out Edward O. Thorp’s theories.
During his time in Vegas, Benter was introduced to an Australian professional gambler called Alan Woods. Woods was running a card-counting school. After joining the Alan Wood’s Card Counting team, Benter went from earning $3 an hour in 7-11 to earning over $80,000 a year card counting.
Kicked Out Of Vegas
The Las Vegas casinos soon got wise to Benter & Alan Woods, and the word went around to ban them from every casino in Vegas. Eager to try out their mathematical skills on a different game, and realising the Vegas door was shut, they quickly turned to Horseracing.
Benter started to do a lot of research into horseracing and came across an academic paper entitled, “Searching For Positive Results At The Track” by Ruth Bolton of Arizona State University. The paper highlighted the many variables that could be used to create a workable system – straight line speed, jockey skill, and size etc.
Using the paper as a basis for their new system, Benter and Woods decided to give it a try with “live” money.
They both flew out to Hong Kong in 1985, full of hope and expectation. Unfortunately that first year, they lost $120,000. Woods flew back to Australia in disgust and Benter went to Atlantic City to play Blackjack, hoping to regain and increase his betting bank.
Benter’s Betting Success
Benter added another 20+ variables to his horseracing system, and his first season of using it netted him a cool $600,000. In the 1990/1991 season he mad an impressive $3 Million Dollars. Over the next ten years, Benter made a fortune, he now had around 100 variables in his system and in one year (1997) he netted $50 Million dollars alone.
Bill Benter’s method ended up winning him over $100 Million Dollars a year. His estimated fortune is estimated to be in excess of $1 Billion Dollars. His biggest problem in today’s modern age of betting is to actually get bets on. Back then, he used teams of individuals to place bets for him. Today, he lives his life at a much more sedate pace and has become a philanthropist, helping people and charities.
From Gambling To Giving
He donated $1 million to the University of Pittsburgh and $3 million to polio immunization efforts in Afghanistan, Pakistan, and parts of Africa. Today he runs the Benter Foundation which has been set up to help individuals and communities thrive.
Gambling for many people can be a problem and it’s certainly no way to get out of financial trouble. However, some individuals can beat the odds. Like anything out there, there are always glitches in the system.
If you have a gambling problem, contact BeGambleAware if you live in the UK
Or contact The National Council Of Problem Gambling if live in the USA
Have a great day. Leave me a comment below.
Keith
P.S People who liked this post also liked this one. “Betting On Yourself – How To Win At Almost Anything“
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