Extremely high roller

Here's another myth:
I've seen in a few movies and TV shows (fictional, of course) an extremely large bet on the roulette table.
For example in Scorched a couple bet a million dollars (of stolen money) on black.
Lie to Me, even more absurdly, had the main character bet a million dollars (of legal earned money) on double 0.

Did a casino ever allow such a big single bet?
If not, what's the record for biggest single bet?
And how high can a person off the street bet in the big high roller lounges?

Noy

Quote: noy2222

Here's another myth:
I've seen in a few movies and TV shows (fictional, of course) an extremely large bet on the roulette table.
For example in Scorched a couple bet a million dollars (of stolen money) on black.
Lie to Me, even more absurdly, had the main character bet a million dollars (of legal earned money) on double 0.

Did a casino ever allow such a big single bet?
If not, what's the record for biggest single bet?
And how high can a person off the street bet in the big high roller lounges?

Noy

As far as I know, the largest bet taken by a Vegas casino was a million dollar bet on red in roulette at the Plaza. I think it was planned in advance for a reality show on British television. Somebody correct me if I'm wrong.

Las Vegas casinos are surprisingly risk averse, and don't like taking big bets. For customers off the street, the biggest bet a nice casino will take is usually $150,000 in baccarat, on player or banker. In other table games the limit is usually $10,000. Limits can be raised upon request by known customers.

Quote: Wizard

As far as I know, the largest bet taken by a Vegas casino was a million dollar bet on red in roulette at the Plaza. I think it was planned in advance for a reality show on British television. Somebody correct me if I'm wrong.

The roulette bet I think you are talking about was for $136,000 from a British man in Las Vegas. While not quite the biggest, it was definitely the most dramatic as the guy was not rich. The amount represented every penny he had to his name (with all his belongings including his clothes sold), all bet on a 1:1 payout.

The guy won, but was pretty stupid to choose roulette. I hope it was at least single-zero.

Here's the video: http://www.youtube.com/watch?v=zGCdBsOIKYA

I was in Atlantic City about two months ago when one of the normal low-minimum tables was changed to a $100 minimum.

I questioned why it was so high and was told a high roller felt unlucky in the regular high-roller room and requested this table be converted.

While the min. was $100, the max was unlimited. It surprised me but the dealer said the high-roller could bet as high as he wanted, no max.

Was that at Caesars and the guy was betting a stack of orange on every hand? I think I saw that too. He was betting about 20k a hand I think...at a regular table (granted, the higher limit area of the regular tables there).

Quote: pocketaces

I hope it was at least single-zero.

Thanks for correcting me. I heard that the guy asked lots of Vegas casinos to book his bet, and all but the Plaza said 'no,' because they didn't want to look like they were promoting excessive gambling. The Plaza does not have single-zero roulette.

No, it was not Ceasars. it was at the Trop, but it would not surprise me if he casino-hopped.

In fact, I waited to see him play and he changed his mind. The table remained empty for about half-an-hour and then they converted it back.

At 20k a hand, I can see why they were so accomodating.

I seem to remember reading about Benny Binion accepting a million dollar bet, and winning. A little googling turned up this page:

the-topfive-most-outrageous-casino-bets

which confirms that story, and has a few others.

I was at Caesars many years ago watching a whale on the roulette table in the main casino. I am not sure why he wasn't in high roller casino that used to be upstairs I guess he liked people around. He had the table too himself and 2 security guards were making the crowds move along.

He was spreading about $100K around the inside and outside for each spin. Because he was also allowed substantial amounts on the numbers I saw him collect $1 million several times he had about 2 to 3 million in front of him at any given time (chip value was $10K).

I watched for a while and then wandered over to the crap pit. I noticed he was gone about 1/2hr later one of the dealers told me he eventually went through all his chips.

After I watched him I realized that I would always be a minnow in Vegas.

Ceasars is the only casino that has $50K backjack tables. Most casinos stop at $10K. Golden Nugget takes them up to $15K (but they don't offer special odds so it seems stupid).
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Benny Binion was famous for taking any bet. The guy who won the $1 million is a vegas legend. Particularly because he later committed suicide. A long time employee at Binions told me that Benny used to keep $5 million in the vault to cover normal bets, but had a $25 million stash to cover people who wanted to throw down.
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Click on video #16 for a segment of the reality show The Casino. Tim Poster and Tom Breitling decided to lift the table limits to $15K and simultaneously increase the free odds to 6X-8X-10X back in 2004. See my review under Golden Nugget for the full story
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I mean I think that the answer is obvious. The casinos are using the same formulas on the high rollers that they are using on the little people. It's just that the dollar amounts are much higher. The casino is probably going to be better off if you bet for four hours. The same rule applies if the bets are $10K or $25.