It’s no big secret that sports betting is extremely popular. After all, there are not many things out there that can get your adrenaline pumping like the concept of doubling or tripling your investment in a matter of minutes or even seconds.
Based on the latest data, the global online sports betting industry’s worth is estimated at around $131 billion and is projected to surpass the $140 billion mark by 2028. In other words, people are not going to stop betting any time soon.
However, while most of us generally place small bets every now and then, some people have bet a small fortune in a single bet. If you are curious to find out more, we’ve prepared stories about some of the biggest bets ever made.
Table of Contents
The Phantom Gambler
The story of the Phantom Gambler began in 1980 when an unknown man walked into the Binion’s Horseshoe Casino in Vegas and placed an equivalent of $2.6 million on a single throw of dice. After winning the bet, the Phantom Gambler calmly collected his winnings, packed the money in the suitcases, and left.
However, the story doesn’t end there. Four years later, Phantom Gambler, later identified as William Lee Bergstrom, walked into the same casino and did the exact same thing, this time betting the equivalent of $1.3 billion today. He placed the same craps bet and left the casino after winning in the same manner as the last time.
Bergstrom tried to repeat the same feat a few months later but he was unsuccessful. Interestingly, even after losing so much money, the Phantom Gambler remained composed, ate an enchilada, and left the casino as if nothing had happened.
Kerry Packer
Kerry Packer was an Australian media tycoon and multibillionaire. Even though he passed away in 2005, the stories about his exploits are still retold by those who had the opportunity to play with him or against him.
During his lifetime, Packer gambled away millions of dollars and won just as much. In fact, he often bet so much that he got himself banned from numerous casinos. Not only that, but he even single-handedly bankrupted a few casinos after winning millions of dollars in a single session.
During one of his visits to MGM Grand, Packer played blackjack with $500,000 a hand. After winning $26 million in one sitting, the casino banned him for life. Furthermore, on one occasion, he offered a Texas oil tycoon who boasted about being worth $100 million to bet his entire $100 million fortune on a single coin flip. Needless to say, the Texas oil tycoon did not accept Packer’s bet.
Ashley Revell
While Packer and Bergstrom bet millions, Ashley Revell bet only $180,000. So, why is he then on our list? Well, it’s simple — he bet everything he had. Namely, Packer was a multibillionaire, and a million dollars here and there wouldn’t even make a dent in his bank account. Similarly, Bergstrom was successful in his real-estate business and could afford to wager large sums.
In other words, both of them bet only a fraction of what they had. However, when it comes to Ashley Revell, he literally bet everything he had.
Before placing the bet, Revell cleared out his savings account and sold all of his possessions. He entered the casino in a rented tuxedo and bet roughly $180,000 on one spin of a roulette wheel. Luckily for him, the ball ended on red, Revell won around $360,000, and the legend was born.
Wrap Up
To our knowledge, these are some of the biggest bets ever made. Granted, while Revell’s bet wasn’t the largest, per se, his courage, or rather his insanity, earned him the spot on our list.
Of course, nobody knows what goes on behind closed doors, and it is more than likely that even larger private bets took place somewhere out there in the world. However, we are positive that the stories about the new legendary bets will eventually surface, just as the ones on our list did.
