The Most Famous Gamblers in History

Written by Ivo Teel — January 3, 2024 at 04:09

If you find it hard to imagine how many people have won and lost in casino bets and gambles worldwide, you can start pouring over archives to sate your curiosity on the subject. Today, we are ready to present you with names that have taken the risky gambling escapades to a whole new level and made an entire generation of children want to be proficient in playing at fast-payout casinos and selecting casino games depending on the payment method. Already knowing how to calculate the withdrawal time, famous gamblers were always one step ahead of the casinos that housed them. 

Edward Thorp

Edward Thorp, the author of the world-famous book on counting cards, was the only person among his contemporaries who proved that the saying “The house always wins” is not entirely correct. He was the one to come up with a mathematical equation that showed the players that you can basically beat the house edge as you are playing blackjack. 

How is that possible? Thorp’s book emphasizes our ability to remember the ratio of high cards to low cards that stay in the deck and recall them later. To prove his point, Thorp went to a Las Vegas casino with a bankroll of $10,000, which he borrowed from one of his best friends. Only a few days later, he won over $11,000 in cash. It should be noted that Thorp’s methods are more than half a century old, so he had no gadgets to rely on while gambling. He is also the father of several shady techniques that allow you to pretend you are not counting cards, most of which are now considered illegal.

Billy Walters

When people hear of Billy Walters and his betting adventures, they often mention his insane lucky streak, making this legendary person one of the most well-known sports bettors on the planet. It is said that Walters made a multimillion-dollar fortune in Las Vegas casinos, placing bets on his favorite sports for over 30 years. Walters, however, is not only famous for his winning sports bets and having a personal style; he is also a successful business owner who runs car dealerships, a golf course, and a car rental franchise. 

Phil Ivey

Phil Ivey is one of the best poker players of all time, who has been awarded 10 World Series of Poker bracelets for his unique gambling strategy. One time, he was caught up in a scandal that made the casino management question his true intentions. Ivey was playing baccarat in London when he found out that his overall win exceeded $11 million. 

The casino refused to deliver the payment since the technique that he used, called edge sorting, was confirmed to be equivalent to cheating. Ivey kept telling the press that he simply took advantage of the imperfections in the deck of cards that he’d been dealt, which could not be considered illegal. However, the court did not believe the pleas of the gambling genius and refrained from providing him with one of the biggest casino cash prizes in Europe.

Chris Moneymaker

With a last name like that, Chris Moneymaker was destined to become successful. He first won the Main Event in the World Series of Poker and then proceeded to enter poker contests online. What is also phenomenal is the fact that Moneymaker managed to do all this while having his contest entry registered on the Internet. The first poker world series that Chris Moneymaker won effortlessly dates back to 2003, with his daring endeavors on the Internet causing a huge wave of players to start exploring online casino websites. Because of Moneymaker, the early 2000s were marked by the rise of poker fans, who also refer to the era as the poker boom.

Doyle Brunson

Doyle Brunson, known to the fans of gambling under the endearing nickname of Texas Dolly, is a professional poker player who has been in the game for over half a century. Doyle Brunson started off as an illegal poker player and was often caught red-handed as he placed illegal bets with the crowds in Fort Worth, Texas. He later moved on to a more legal part of his gambling career as he went to Las Vegas. There, he managed to win ten events at the World Series of Poker, which was an unprecedented result for anyone who knows about poker and the basic rules of gambling.

Archie Karas

Archie Karas, an immigrant from Greece, arrived in Las Vegas with only $50 dollars in his pocket. He didn’t know what to do with his life, so he decided to try his luck at gambling. Over the course of two years, Archie managed to win $40 million dollars and become an expert in playing poker, baccarat, roulette, and blackjack. The story of Archie Karas can be used as a cautionary tale for the majority of players as he managed to get involved in the card marking scandal in San Diego and had to leave the professional poker scene to focus on his personal life.