The names of legendary bettors include John “Bet-a-Million” Gates, “Pittsburgh Phil” Smith, “Diamond Jim” Brady, and Art Rooney.  None of them had the astounding results of the low-profile and scholarly 61-year-old Bill Benter, a onetime Eagle Scout currently residing in Pittsburgh, Pennsylvania.  (Interestingly, Smith, Rooney, and Benter are all from the Steel City.)

Mr. Benter was featured in a Bloomberg Businessweek article titled “The Gambler Who Cracked the Horse-Racing Code.”  The article stated:  “Benter wanted to conquer horse betting not because it was hard, but because it was said to be impossible.”  And, according to Bloomberg, he succeeded:  “Bill Benter did the impossible.  He wrote an algorithm that couldn’t lose at the track.  Close to a billion dollars later, he tells his story for the first time.”

Very few people can make a profit betting on horses, much less a living.  To come across an individual who won almost a billion dollars betting horses is incredible.  This feat makes him the greatest horse-racing bettor of all time.  Click here to read his fascinating story as told to Kit Chettel of Bloomberg Businessweek.

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