Hello, fellow punter. We have been to numerous online casinos and a few lucky ones among us were able to experience the glist and thrill of a brick-and-mortar casino. However, we all might have thought about “who might have placed the single largest bet in a casino?”. To rephrase it properly, “Who might be paranoid enough to place a single largest bet in a casino?”, might be the exact thought. We’ve all heard that online gambling is extremely risky and there is a 50-50 chance to win or lose everything. Several lives have been destroyed due to gambling and to spend your life’s fortune on a single bet in a game of chance should be considered paranoid.
However, the legend is that a man walked into a casino with two briefcases and made the single largest bet anyone has ever placed in a Las Vegas casino. Who would be foolish enough to do such a thing? Well, surprisingly, he won the bet! And he didn’t stop at that, he came back and wagered an even bigger single bet and won again. However, the story doesn’t end very well. So, this article is about the “Phantom Gambler”, also known as the “Suitcase Man”, who placed the single largest bet in a casino.
Who Is The Phantom Gambler?
The Phantom Gambler is a man from Austin, Texas, who walked into the Horseshoe Casino on Fremont Street, Las Vegas on September 24, 1980. The man, William Lee Bergstrom had two suitcases in his hands. One contained $777,000, while the other was empty. The owner of Horseshoe Casino, Benny Binion had a policy of accepting a bet of any size if it’s the player’s first time at his casino. Bergstrom knew this and decided to take advantage of it.
The First Bet
On September 24, 1980, William Lee Bergstrom placed a bet of $777,000 in cash on Don’t Pass Line in Craps. He carried this money in one suitcase and the other was empty to carry the money in case he won. Bergstrom had borrowed the money from the bank and he intended to commit suicide if he ever lost. Bergstrom was prepared for the worst when he bet all the money on a single bet. He wanted to test his fate and used craps as a way to decide it.
After wagering the bet, the game progressed. The shooter established a six and then made seven two rolls later, which led to a win for Bergstrom. He had won $777,000 from a single bet. Binion heard about the biggest bet and came down to congratulate Bergstrom. He also helped Bergstrom to stack his winnings into the empty suitcase. That day, Bergstrom walked out of the Horseshoe Casino with a total of $1,554,000.
Bergstrom used the money to travel across the world. A dream that he had on his bucket list for a very long time. No one heard or saw Bergstrom during this time. Ultimately, he returned on March 24, 1984.
The Second Bet
Three years later, Bergstrom walked into the Horseshoe Casino again. This time, he wagered $538,000 in a bet on a single roll of dice. According to Binion, people gathered around to watch the game and they had to call in the cops to control the crowd. The dealer rolled the dice and cheer erupted from the crowd. Bergstrom had won again. This time he won $250,000. He didn’t stop there, he also wagered three bets in craps and ended up winning over $117,000.
The Last Bet
William Lee Bergstrom went back to the Horseshoe Casino in 1985, for the third time. This time, Bergstrom wagered the highest-ever bet. He wagered $1 million on the “Don’t pass” line. He had brought a suitcase filled with $5550,000 in cash, $140,000 in gold coins, and $310,000 in cashier’s checks. The game began and the shooter threw a seven on the come-out roll. This time, luck didn’t favor Bergstrom. He lost all of his money in a single bet. He wasn’t dejected and simply walked out of the casino empty-handed.
A few months later, on February 4, Bergstrom committed suicide in a room at the Mariana Hotel. The police conducted the investigation and found out that Bergstrom had overdosed on drugs. The exact reason for his suicide is still unknown. Some people claimed that Bergstrom committed suicide due to financial problems after losing the bet. However, Bergstrom did not go bankrupt even after losing the bet and had enough money left in his account.
Some say that Bergstrom was a gay man and had committed suicide due to a breakup with his partner. The exact reason is still unknown. However, the police found a suicide note from the room where Bergstrom had committed suicide. In the note, Bergstrom wanted the urn that carries his ashes to be written with “The Phantom Gambler of the Horseshoe, Who Bet $1 Million on Nov. 16, 1984”.
Conclusion
The exciting and tragic tale of William Lee Bergstrom is an inspiration to gamblers around the world. His life showed how much a single bet can change one’s fate. He walked in three times at the Horseshoe Casino and won the largest payout two times. Eventually, his luck ran out. Every time he walked into the casino, he was sure about what to do if he had lost. His luck prolonged his life, which eventually gave way.
Bergstrom’s life and story are used by casinos to advertise gambling. What should a gambler take out of it? Gambling everything you ever earned in a single bet is a bad decision. Unlike the Phantom Gambler, people who have emotional issues should refrain from gambling. If you gamble when feeling low or under the influence, it can cost you your earnings, and your life, and affect the lives of your loved ones.
Read More: Online Casino Bet Limits: Do All Casinos Have High Minimum Bets?
