Most Successful Pro Gamblers of All Time

While gambling is an enjoyable pastime for many, some take the hobby much more seriously. They make it their livelihood and use their knack for taking big risks to become professional gamblers.

While some people may see this as slightly too risky, these players have tried their luck repeatedly and proved that they know how to make money. Of course, a lot of this comes down to skill and knowledge, but luck has certainly been on their side as well.

To see just how much money pro gamblers can gain, we’ve searched for the most successful pro gamblers of all time. These players have beaten the odds and lived charmed lives as a result.

1. Edward Thorp

Known as the father of card counting, Edward was a mathematics professor when he developed a way to calculate the probability of what the next card would be. Foregoing playing slots, even those with a slot bonus, he decided to put his new formula to the test in an actual online casino setting in 1966.

Starting with just $10,000 (a significant amount of money for the period), Thorp proved his formula by winning $11,000 in a single weekend. Because he didn’t want to be caught, he regularly wore disguises while visiting different Las Vegas and Reno casinos.

Edward then wrote a book outlining his formula and developed similar methods for playing blackjack and backgammon. His success in gambling and selling his book has gained him an estimated net worth of $800 million.

2. William (Bill) Benter

Making his mark as a professional gambler in Las Vegas, the home of gambling and a popular eSports location, Bill Benter first gained notoriety when all the casinos banned him on the Sin City Strip in 1984. These bans happened seven years after he started playing blackjack in the city.

After his banishment, he used his skill in mathematics and his degree in physics, which had already served him well, to try his luck at horse racing. Paired initially with Alan Woods and living in Hong Kong, the duo soon split. It was after this that Benter perfected his algorithm.

Using his method to predict race outcomes, Benter earned a massive income. Some people estimate it at around $10 million in a single day. He also sold his formula for racing to the developer of a prediction software application. All this has gained him a net worth of approximately $1 billion.

3. Billy Walters

Unlike other gamblers on this list, Billy Walters didn’t amass his fortune by playing in the gambling casino of the world. Instead, he gained it by having a knack for sports betting. This love of betting started when he was nine years old in 1955.

Building on his success at betting and increasing the amount he bet, Billy gained a staggering amount on gambling over the years. He became so well known that many people would change their bets to match his.

Later in life, Walters founded a sports-betting platform but was sentenced to prison for insider trading. After being released and receiving a presidential pardon from then-president Donald Trump in 2020, he now keeps a low profile. He is estimated to have gained a net worth of $200 million during his run.

4. Phillip (Phil) Ivey

Well known within the poker community, Phil is one of the most popular players of this game. This notoriety is due to his insane ability to win big, including winning $19 million while playing in live tournaments.

Aside from these significant wins, Phil is also known as a champion of the World Poker Tour and has been crowned the World Series of Poker champion eight times. He has also made it to the final table of the World Poker Tour nine times.

Because of his ridiculously great luck at the game, Phil is known as the “Tiger Woods of Poker.” It is no wonder that his love of the game, mixed with his luck, has gained him an approximate net worth of $100 million.

5. Doyle Brunson

Another famous poker player is Doyle Brunson, a Texan player who played for over 50 years. Starting to play poker illegally while working as the principal of a local school, Doyle soon realized that he was exceptionally good at the game.

His great wins led him to play in almost every World Series of Poker since the competition began. He has been crowned champion of this tournament twice and has received ten World Series of Poker bracelets.

In 1978, Doyle used his knowledge of the game to publish a book called Super/System, which was revised and republished as Super/System 2 in the 2000s. These books and his many poker wins have given him a net worth of around $75 million.

6. Archie Karas

Famous for his luck in the early 1990s, Archie began his winning streak in Las Vegas. He first went pro with just $50 of his own money combined with a $10,000 bank loan. In less than a day, he won an estimated $30,000.

This day started what has become known as the run, which lasted from 1992 to 1995. Archie won a staggering $40 million by playing in Sin City during this time. Most of this came from playing poker, blackjack, baccarat, and roulette. However, his run soon ended, and he began losing badly.

After a snap with the law regarding card marking in 2013, Archie was banned from all Vegas casinos. It has also been reported that he lost a staggering $17 million in a single game of baccarat. Because of this, he has since lost his entire $40 million fortune.

Conclusion

Each of the men listed above has proven that it is possible to go pro by relying on your skill and luck. However, the story of Archie Karas also shows that it is possible for even the top professionals to win it all and then lose it just as quickly.