While it is possible to make money through betting, it is not a reliable way to get rich. The odds are often stacked against you, and people can lose money over the long term, and gambling can be addictive.
That being said, betting can make you rich. And Some of the world’s wealthiest individuals owe their immense fortunes to gambling. Below are some of them and the betting activities that make them rich.
1. Vanessa Selbst
Vanessa is a retired poker player from New York, with over $11.8 million in total live earnings from the sport. She is famous for her participation in events such as:
- The World Series of Poker (WSOP), from which she has 3 WSOP bracelets.
- The World Poker Tour, where she has two final table appearances.
- The North American Tour
- The Partouche Tour
2. Haralabos Voulgaris
Voulgaris, affectionately known as Bog in gambling circles, is a U.S. citizen who can attribute his fortune to betting. He is most active in the following gambling activities:
- Sports betting, mainly the NBA – He is famous for his ability to predict the outcome of each game with near-pin-point accuracy. According to various sources, Haralobos stakes over $1 million per game and wins big most of the time.
- Poker- Haralabos has slightly over $3 million in total live earnings from Poker. Among his accolades is a fourth-place finish in the 2017 edition of The World Series of Poker tournament.
- Currently, he serves as the Director of Qualitative Research and Development for the Dallas Mavericks.
3. John Duhamel
John has a net worth of $32 million from betting in different poker tournaments. Among his many achievements are the following:
- 3 WSOP titles
He was the winner of the Main Event at the 2010 World Series of Poker tournament.
Besides Poker, the Canadian also follows ice hockey and is a big fan of the Montreal Canadiens. He donated $100,000 to the Montreal Canadiens Children’s Foundation from his 2010 WSOP winnings of $8.9 million.
4. Tony Bloom
Tony Bloom is a professional sports bettor and poker player from the United Kingdom. Currently, he has a net worth of $1.7 billion from the following online gambling activities:
- Starlizard – Tony is the owner of Starlizard, a UK-based sports betting and consulting firm that earns him close to $100 million in annual revenue.
- Horse Racing – Bloom regularly gambles on different horse racing events across Europe. Furthermore, according to industry insiders, he also has a racehorse, Energumene, which earns him an average of $22,400 per race.
5. Denise Coates
Another person who makes a living from online gambling is Denise Coates. The 54-year-old British billionaire is a director of BET365, one of the world’s largest online gambling companies. Her current net worth is £ 8.96 billion, making her the richest female online gambler in the world.
6. Dan Bilzerian
According to various estimates, Dan Bilzerian is a US-based online poker player with a net worth of $150 million. Regardless, you can verify his online gambling activities from his great Instagram posts, which he shares with over 33 million followers.
Furthermore, the Tampa Bay native is the current brand ambassador for the online gambling poker site GGPoker.
How Rich Gamblers Became Wealthy
The above names are some of the many individuals who are rich because of betting. However, below are the character traits that are instrumental to their success in gambling:
They had an early start
All these individuals started their gambling careers early. For example, Haralabos began betting on the NBA while still in high school. As a result, he honed his skills to become the most prolific bettor in this sports betting category.
They played in the right events
To become rich from betting requires you to participate in suitable events. The above individuals have remarkable wins from some of the world’s elite betting events.
For example, most of Vanessa’s wealth comes from participating in the World Series of Poker tournament. Typically, the buy-in for the games starts at $2500, and the total pot value can be over $10 million per game.
They picked a game and specialized
Betting cuts across a variety of activities, such as:
- Sports betting
The above individuals have a specific betting activity from which they earn the most prizes. For example, despite Harabolos earning $3 million in Poker, he is most famous for his prowess in betting on NBA games.
Can you make a living online gambling?
Do you want to make money through online gambling? It’s not an easy feat, but it is possible if you carefully consider all the essential elements. These include the type of gambling, the odds, and how much you’re willing to risk. With the right strategy, you can increase your chances of coming out on top and turning a profit.
Thankfully, there are many individuals globally who gamble professionally online. Additionally, they continue to make a living from the activity and are some of the richest people in the world.
Has anyone got rich from gambling?
There have been some people who have made significant amounts of money through gambling. However, these cases are relatively rare and are often the result of a combination of luck and skill.
Be that as it may, here are some of the wealthiest people who got rich from gambling:
(1) Bill Benter (Net worth $1 billion)
Second is Bill Benter, with a fortune of roughly $1 billion. Despite varying reports of his total net worth, Bill can account for his earnings from blackjack and horseracing. Other than active gambling, the Hong Kong resident also owns a software development company that earns him over $100 million in annual revenue. The company’s flagship product is a computer program that helps you predict and select winners in horse racing.
Bill Benter is a renowned professional gambler and mathematician known for his success in counting cards at blackjack tables and predicting the outcomes of horse races. He obtained a degree in physics from Case Western Reserve University and used his knowledge to improve his gambling methods with the help of Edward Thorp’s book.
After seven years of winning at the blackjack tables in Las Vegas, Benter was banned from most casinos and moved to Hong Kong, where he partnered with Alan Woods to develop a formula for predicting horse race outcomes. Together, they created the world’s first software-assisted gambling operation, which has become one of the most successful of its kind.
(2) Tony Bloom (Net worth $1.7 billion)
Tony Bloom tops the list of the richest gambler in the world, with a net worth of $1.7 billion. His earnings come from playing poker and sports betting in horse racing and football. Additionally, he owns a betting firm StarLizard that operates from its headquarters in Central London.
Tony Bloom is a professional gambler and businessman who has made a name for himself in the world of sports betting and poker.
Using complex methodologies and a deep understanding of the games, his company creates football odds that are even more precise than those offered by bookmakers. These odds are then sold to select punters, helping them generate long-term winning returns.
In addition to his work in gambling, Bloom is also known for his involvement in the world of football. In 2009, he took control of Brighton & Hove Albion F.C. and worked to promote the team to the Premier League, which they achieved in 2017. It is believed that he has invested over £200 ($272) million into the club, including a £93 million donation to build a modern stadium with a larger capacity.
(3) Andrew Black (Net worth $670 million)
A net worth of $670 million makes Andrew Black the fourth richest gambler in the world. Black cites horseracing and bridge as the main sources of his wealth. However, he is also a co-founder of BetFair, a British company that is the world’s largest bet exchange.
Furthermore, Andrew also owns several racehorses that feature in local and international races.
Black has a background in the derivatives business, but he became increasingly successful as a gambler, eventually earning enough money to focus on gambling full-time. However, he eventually decided to start a software business to provide more financial stability. While playing bridge with Wray, Black showed him a prototype he had programmed, which caught Wray’s attention and led to an investment in the project.
(4) Zeljko Ranogajec (Net worth $690 million)
Zelko Ranogajec concludes the top five richest gamblers in the world with a fortune of $453 million. He’s famous for becoming wealthy playing blackjack, horse racing, Keno, and sports betting.
In addition, Zeljko holds the record for the largest win in Keno after earning $7.5 million in the casino game. According to reports, the Australian spends close to $3 billion annually for his gambling activities, with most of it going to horse racing.
Also called “the joker,”Zeljko Ranogajec is highly respected for his blackjack card counting skills. He has a background in banking, finance, and tax law, and is considered one of the richest gamblers in the world, with a record of winning $7.5 million on keno.
(5) Phil Ivey (Net worth $100 million)
Phil Ivey is a professional gambler who is known for his success in poker tournaments and his net worth of over $100 million. Poker prodigy Phil Ivey, who is often compared to Tiger Woods, has achieved numerous accolades including winning ten World Series of Poker bracelets, securing a World Poker Tour title, and reaching the final table in nine World Poker Tour events. At the age of 38, he became the youngest player to achieve this feat.
With over $15 million in live tournament earnings, Ivey was considered one of the greatest of all time in poker and had a reputation for having one of the best poker faces in the game.
Gambling Rich List (by Game Type)
(a) Lottery winners
The following individuals are rich from gambling in the Powerball lottery, with their prize money totaling S1.586 billion. In addition, they all chose the lump sum payment of $327.8 million for their winning ticket. They are:
- John and Lisa Robinson
- Maureen Smith and David Kaltschmidt
- Mae and Marvin Acosta
(b) Slot Winners
You can also become rich from gambling in slot games. Below are a few examples of people who owe their immense fortune to playing at slot machines.
- Cynthia Jay Brennan – Cynthia is a slot gambler from the United States who won $35 million while playing Megabucks in 2000.
- Jon Heywood – U.K. native Jon Heywood won a $19.9 million prize after a $0.25 bet on Mega Moolah. Additionally, he is not the only one who has won millions on this online slot machine. Reports indicate that D.P., another U.K.- gambler, also won $11.6 million from a $1.50 bet. Unfortunately, the game is still unavailable to U.S. gamblers. However, with more online casinos now accepting U.S. players, you could soon see a U.S. winner.
(c) Poker Winners
Most of the world’s richest gamblers state gambling in Poker as the source of their immense fortunes. Below are more examples of people who got rich from gambling at online Poker.
- Phil Ivey – The 2017 Poker Hall of Fame inductee has a fortune of $100 million from his participation in various online poker tournaments. He also has 10 WSOP Bracelets, which makes him one of the most iconic poker players alive.
- Doyle Brunson – Doyle Brunson has a net worth of $75 million from his poker exploits. In addition to his 10 WSOP Bracelets, he is also the author of a best-selling book.
- Annie Duke – The Duchess of Poker’s total live winnings is $ 4.27 million. Furthermore, she is the first woman to win the Heads-Up Championship and ranks as the third-richest female poker player.
Other gambling activities that can make you rich include:
- Sports betting, as is the case of Diane Coates and Tony Bloom.
- Blackjack has Edward Thorp, who is currently worth a staggering $800 million.
- Keno, where Zeljko Ranogajec holds the record for the largest win of $7.5 million in one session.
How do I become a millionaire from gambling?
There are many ways you can become a millionaire from gambling…
– Reach the Final Table at the The World Series of Poker
The World Series of Poker is a golden chance for skilled poker players or those who are just lucky to try their luck and potentially win a large sum of prize money. In any given year, there are more than 70 different events offered with top prizes totaling over $50 million. The main event, known as the $10,000 No Limit Hold ’em, is where the largest prizes are up for grabs.
– Play Progressive Jackpot Games
Progressive jackpots are a common feature in both online and physical casinos. They operate similar to a lottery, where the jackpot grows until someone wins it.
Progressive jackpots are usually attached to slot machines or video poker machines, but some table games like Caribbean Stud poker, blackjack, and roulette may also offer them.
The jackpots can be quite large, sometimes running into the hundreds of thousands or even millions of dollars. The size of the jackpot is influenced by various factors such as the length of time since the last win. In September 2018, a player at Grand Mondial casino set a new online progressive jackpot record by winning over $21 million on the game Mega Moolah.
– Become an Online Gambling Affiliate
If you are knowledgeable in both technology and gambling, you may want to consider starting a website to refer customers to online casinos. These casinos often pay a commission to referring websites as a form of advertising.
However, simply posting a banner ad on your site will not be effective. You must provide a reason for people to visit your site and then give them a reason to visit the casino. Creating a successful website takes a lot of effort and can take up to a couple of years to start seeing significant traffic.
It’s important to have a thorough understanding of the topic and present it in a way that is easily understandable to the reader. You should also be familiar with website creation and optimization to increase visibility on search engines like Google and Bing. If you can successfully manage all of these tasks and establish a network of sites, it is possible to become a millionaire through this venture.
Casinos pay you for every customer you refer to them from your website. With the industry’s market value at $771.4 billion, there is plenty of money to go around.
– Try your Luck on the Big Lotteries
Big lotteries refer to large, national or international lottery games that typically offer large prizes and are played by a significant number of people. Some examples of big lotteries include the Powerball in the United States, the EuroMillions in Europe, and the Mega Millions in North America. These lotteries often have high jackpots and are considered to be popular forms of gambling.
If you match all the numbers on either Mega Millions or Powerball, you could potentially win millions of dollars in prize money. The minimum amount for most state lotteries is around $4 million, but the jackpot can continue to grow with each drawing if no one claims the prize. In July 2016, the largest single winner on Mega Millions won a jackpot of $540 million in Indiana, while a single winner in Chicopee, Massachusetts claimed $750 million in the Powerball game in August 2017.
However, it is important to note that the chances of winning the big jackpot in either game are incredibly low, with odds of 1 in 258,890,850 for Mega Millions and 1 in 175,223,510 for Powerball. These odds can also change significantly every few years when slight changes are made to the games.
How do you succeed in gambling?
Here are key tips and strategies that can help you succeed in gambling:
Set a budget: It is important to set aside what you can afford to gamble away. Determine a budget beforehand and stick to it.
- Understand the ins and outs of casino game odds: Research the games or activities you are participating in and understand the odds of winning. This will help you make informed decisions about which games to play and how much to bet.
- Never chase losses: It can be tempting to try to win back money you have lost, but this can lead to excessive and risky betting. If you are having a losing streak, it is best to take a break and come back another day.
- Make a habit of taking breaks: Gambling can be an enjoyable activity, but it is important to remember to take breaks and not get too caught up in the excitement. Take breaks to rest, relax, and refocus.
- Seek help if needed: If you find that gambling is causing you financial or personal problems, do not hesitate to seek help. There are resources available such as Gamblers Anonymous and financial counseling to assist you.
How much do professional bettors make?
There is no one-size-fits-all answer to this question, as professional bettors can have very different levels of success. Some professional bettors may be able to make a good living from their betting activities, while others may struggle to turn a profit.
The amount of money that a professional bettor makes can depend on a variety of factors, including:
- Their level of skill
- The amount of time
- Effort they put into their betting activities
- The amount of money they are willing to risk
Some professional bettors may focus on a particular sport or type of bet, while others may diversify their betting portfolio in order to spread the risk. It is also important to note that even the most successful professional bettors can experience periods of losses, and it is important to have sufficient funds available to weather these setbacks.