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What is the biggest bet of all-time?

William Lee Bergstrom (1951 – Febru) commonly known as The Suitcase Man or Phantom Gambler, was a gambler and high roller known for placing the largest bet in casino gambling history at the time amounting to $777,000 ($2.56 million present day amount) at the Horseshoe Casino, which he won.

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American gambler

William Lee Bergstrom (1951 – February 4, 1985) commonly known as The Suitcase Man or Phantom Gambler, was a gambler and high roller known for placing the largest bet in casino gambling history at the time amounting to $777,000 ($2.56 million present day amount) at the Horseshoe Casino, which he won.[1] Bergstrom returned to the Horseshoe three years later in 1984 and placed several additional bets, including a $1 million bet ($2.61 million present day value) which he lost.[1] This bet remains as one of the largest bets ever placed against a casino.[2]

Early life [ edit ]

Bergstrom was born in Austin, Texas and attended Austin High School graduating in 1969. Majoring in electrical engineering, he enrolled at Texas Tech University in Lubbock, Texas in Fall, 1969. Bergstrom, who enjoyed aviation, became a private pilot, and worked as a waiter at a local restaurant in Lubbock, often working till late at night prior to returning to his dorm room at Weymouth Hall on the Texas Tech campus. In Spring of 1971, Bergstrom departed Texas Tech and attended the University of Texas, but dropped out in 1974. His brother Alan Bergstrom described their childhood as marred. Their parents were divorced and Bill constantly desired the respect and affection of his father.[1] After dropping out Bergstrom made a living selling real estate and owning property in Texas.[3]

Gambling [ edit ]

On September 24, 1980, Bergstrom arrived at Binion's Horseshoe Casino in Las Vegas with two suitcases: one containing $777,000 in cash, the other empty. Benny Binion had a policy of honoring a bet of any size if it was the player's first bet at the casino. Bergstrom, who remained anonymous at the time, placed the full amount on the Don't Pass line in craps. The shooter established a point of six, then made a seven two rolls later, resulting in a $777,000 win for Bergstrom. Binion helped Bergstrom stack his winnings into the empty suitcase.[1] According to Ted Binion, Bergstrom had borrowed most of the money for the bet and intended to commit suicide if he lost. Instead, he won and traveled the world for several years before returning on March 24, 1984.[4] On his second visit, Bergstrom placed a $538,000 bet, again on a single roll of dice. He won again, took his mother to a Willie Nelson show, and won an additional $117,000 on three more craps bets. Then, on November 16 he returned and placed a $1,000,000 bet with a suitcase filled with $550,000 in cash, $140,000 in gold Krugerrands, and $310,000 in cashier's checks. Again, Bergstrom bet the Don't Pass. This time, the shooter threw a seven on the come out roll, resulting in a loss for Bergstrom.[1]

Death [ edit ]

Bergstrom never recovered from his million dollar loss and committed suicide on February 4, 1985, by swallowing pills.[5][3] The reason for his suicide remains unknown. Friends and family believed that he was not broke at the time of his death and still had $647,000.[6] His note suggested his suicide was triggered by a breakup with a man 10 years his junior.[1]

Legacy [ edit ]

Bergstrom's story remains in Las Vegas lore and has inspired awards and prize giveaways throughout Las Vegas.[7]

Can you get rich off bets?

Sports betting is unlikely to make you rich unless you turn it into a full-time job and become one of the best bettors in the world. That's an extreme statement and before getting rich, it's important to remember that only a small percentage of sports bettors are simply profitable.

rotowire.com - Can sports betting make you rich? - Rotowire

Can sports betting make you rich?

Set a bankroll

Study

Shop Odds

Don't trust others

Gradually Grow Your Bankroll

If you can turn a profit after a certain amount of time, the next step is to gradually grow your bankroll. If you continue to have success betting on sports, it's not going to be a one bet and you're done kind of thing. It's important to abide by the unit rule and limit wagers from one to five units per bet. Just because you really like one matchup doesn't mean you should put all of your money into it. Successful bettors steadily grow their bankrolls and don't fall into the trap of becoming overconfident. While you can become a full-time sports bettor, getting "rich" is another story and one that's unlikely to happen no matter how successful you become. To turn a positive, you have to hit more than 52.4% of your bets, though that depends on what kind of odds you're getting. It may be possible to hit more than 60% for a season, but doing that consistently, year-after-year, is another question.