Biography of Bill Benter
William "Bill" Benter developed one of the most successful computer software programs in the world that helped him overcome the Hong Kong horse racing market, but he certainly didn't stop there. He has moved into the United States and other Asian countries, reportedly bringing home over $10 billion dollars a year, making him one of the first professional gambling billionaires.
Not only is Benter a mathematical genius who came up with an extraordinary piece of gambling software, but he also is a thoughtful philanthropist who dedicates a lot of his time and finances to support government affairs, education related causes, and many other organizations as well.
Insight into His Past
William Benter was born in Pittsburgh, Pennsylvania and that's where he spent the majority of his childhood. Even in grade school, it became evident that Benter had exceptional mathematic skills as he would often work out different equations in his head just for fun.
As Benter grew up, he desired to use his mathematical talents to make a living but he didn't want to have to devote his life to teaching or any other regular 9 to 5 job, so he headed to the nearby casinos and began using his skills to count cards. It was around this time that Benter came across the book, Beat the Dealer, by Edward O. Thorp, which helped him improve his methods.
Benter was embarking on a long journey to becoming a professional gambler, but unfortunately Benter was such a talented card-counter that many casinos banned, as they knew he was bound to win consistently. Discouraged and realizing gambling was his calling, Benter went back to the drawing board to see if he could figure out another way to use his mathematical knowledge to triumph in the world of gambling and that's just what he did.
Professional Gambling: Software that Beats the System
Benter was a too well-known face in casinos, so he decided to take on a form of gambling that allowed him to stay away from them, leaving him with no choice but to start gambling on horseracing. Through hours of working on perfecting his work, Benter was able to develop a software program that assessed sixteen individual variables that could affect the horses, jockeys, and trainers of a race that could ultimately have an impact its outcome.
Using these results, Benter and his team created their own prices and probabilities, which they used to make bets that were usually always accurate. Benter is always looking for ways to improve his software, adding more variables to improve his bets. His latest updated software analyzes over 130 different variables and it takes a deeper look into the prices of different bets to see where he has the most potential to make the most money.
Benter has hired a team of professionals to place bets for him, strategically having them place bets mere seconds before the last bets can be accepted. On average, he brings home $5-$10 million in a single day at the racetrack. His success started on the racetracks of Hong Kong, and that's where he met his future wife, Vivian.
More recently, the couple has moved overseas to the United States and other Asian countries that allow horseracing, so Benter can prove that his software can successful in any environment. He reportedly wins approximately 24% profit on the turnover each time he bets, which is an impressive figure for any gambler.
In order to faithfully support United State's leaders and organizations, Benter formed the Benter Foundation with his wife, so they can focus on helping organizations and people worldwide. They look for organizations that are committed to advancing education, human services, global citizenship, and a myriad of other acts of service.
The Benters also pour a lot of their money into politics, as they are very proud and passionate democrats. In 2007 and 2008, they donated more than $136,000 to Democratic candidates, including $6,900 to Obama. Benter is also member of the shadowy Democracy Alliance, under which he donates $200,000 to a select group of liberal nonprofit organizations.
Despite trying to avoid this career when he was younger, Benter ironically enjoys being a visiting professor at the Southampton Management School as part of their Center for Risk Research. Benter has also been a guest speaker at Harvard University, Stanford University, Carnegie Mellon University, The City University of Hong Kong, and many more Universities across the United States and China.
The City University of Hong Kong actually established a scholarship in his honor, which is awarded to students each year if they are excelling in applied mathematics. As Benter and his wife care deeply for Hong Kong, they joined a Rotary Club that focuses on establishing peace among China and its neighboring countries. They also developed the Benter Initiative to help students at the Chatham University develop a greater awareness of world issues as they relate to different cultures.
Author: Nicole Miller
Updated: October 2016