noy2222
noy2222
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January 3rd, 2010 at 11:00:17 AM permalink
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
Wizard
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Wizard
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January 3rd, 2010 at 1:35:39 PM permalink
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.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
pocketaces
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January 3rd, 2010 at 1:40:40 PM permalink
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
darkoz
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January 3rd, 2010 at 1:54:40 PM permalink
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.
For Whom the bus tolls; The bus tolls for thee
cclub79
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January 3rd, 2010 at 1:57:33 PM permalink
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).
Wizard
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January 3rd, 2010 at 2:14:26 PM permalink
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.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
darkoz
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January 3rd, 2010 at 3:14:49 PM permalink
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.
For Whom the bus tolls; The bus tolls for thee
PaulEWog
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January 3rd, 2010 at 3:50:13 PM permalink
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.
kenarman
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January 3rd, 2010 at 3:54:46 PM permalink
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.
Be careful when you follow the masses, the M is sometimes silent.
pacomartin
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January 21st, 2010 at 6:19:58 AM permalink
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).
----
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.
----
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
----
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.
FleaStiff
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January 21st, 2010 at 7:49:49 AM permalink
Its like those million dollar insurance policies on a movie star's legs... its the publicity about the policy that makes money.

You can watch a youtube clip about a man who bet his life's savings of about 132,000 on one spin of a roulette wheel (he won). Binions years ago let someone but 240,000 on the line at a craps table (player won, came back a few years later and lost...blew his brains out in his room later).

Usually people smart enough to have a million dollars don't bet it on zero anyway.
teddys
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August 21st, 2015 at 11:22:35 AM permalink
The biggest publicly out-there bet known in Vegas was the guys from MTV's "The Buried Life" TV show. (Fairly decent reality show). They had a goal to parlay $125,000 into a million. The bet even-money roulette bets at the Golden Gate casino. First spin they won, parlayed to $250,000. Second spin they lost. So the biggest bet taken stands at $250,000.

As far as I know, Golden Gate is the only casino that would take their action. Otherwise they should have used single wheel roulette. Personally, I would have played Banker in baccarat, or Don't Pass with max odds in craps. But roulette is more exciting for TV.

http://www.goldengatecasino.com/casino/biggest-roulette-bet-in-las-vegas-history/
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
ChumpChange
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February 6th, 2019 at 3:05:05 PM permalink
My local casino was running $10 - $100 betting limits on the roulette table the other day.
The weekday craps table goes from $15-$2000 with $6000 odds max on a 10X odds table, or $5 & $10-$1000 with $3000 odds max on a 10X odds table.
The Blackjack high limit room probably goes to $3000.
The Baccarat tables vary on table minimums of $25 or $50 but the max might be $2000.
I thought I saw the Let It Ride and Mississippi Stud Jackpots equal at over $15K.
Penny slots jackpots range from $5000 to over $25,000.
Spotted: people playing dollar video poker for $2 so the Royal Flush jackpot pays $800 to avoid a $1200 W-2G.
michael99000
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February 6th, 2019 at 3:33:59 PM permalink
At Borgata high limit area, they allow $500 on a single number and you can bet $500 any way on that number. Split, corner, row etc.

And for outside bets I believe itís $50,000 max.

Iíve seen players reserve the table and get approved for $2000 straight up on a number
FCBLComish
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February 6th, 2019 at 3:43:07 PM permalink
I believe anyone can walk in off the street and bet $20,000 on blackjack at the Palms.
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TigerWu
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February 6th, 2019 at 3:46:58 PM permalink
Quote: ChumpChange

Spotted: people playing dollar video poker for $2 so the Royal Flush jackpot pays $800 to avoid a $1200 W-2G.



Why?

Even paying taxes on that $1200 you'd still come out ahead, right?
Nathan
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February 6th, 2019 at 4:10:56 PM permalink
Quote: TigerWu

Why?

Even paying taxes on that $1200 you'd still come out ahead, right?



Not really. A guy said he got a Jackpot of $1200 and his take home money after taxes was like $800. Plus he had to do paperwork. He said he wish he got $ 1,100 instead. He'd have no paperwork coming and he would get the whole amount as take home money.
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billryan
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February 6th, 2019 at 4:22:32 PM permalink
Quote: TigerWu

Why?

Even paying taxes on that $1200 you'd still come out ahead, right?




It's possible, though not probable that W-2s can push you into higher brackets, or even trigger the dreaded alternative minimum tax on your return.
Its far more likely they were jerks and didn't know any better.
The difference between fiction and reality is that fiction is supposed to make sense.
Mosca
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February 6th, 2019 at 4:31:16 PM permalink
I play at a Mississippi game with a woman who bets blacks. She plays by intuition: if she feels lucky she might raise 5-2 offsuit, if unlucky she might fold J-5 with a 7 as the first card shown. She always plays the 3 card bet and the progressive. So, each hand is at least $401.

I've seen her pull $20000 out of her purse. She is there several nights a week. At Mississippi Stud. Unreal.
A falling knife has no handle.
Lovecomps
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February 6th, 2019 at 8:44:31 PM permalink
Quote: pacomartin


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.



The formulas are not the same for the high rollers. They can negotiate special rules (google the name Don Johnson) and get rebates on their losses.
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