1957 (age 60–61)
Pittsburgh, Pennsylvania, U.S.
Case Western University|
University of Bristol
|Years active||1984 –present|
|Spouse(s)||Vivian Fung (m. 2012)|
William "Bill" Benter (born 1957) is an American professional gambler and philanthropist who focuses on horse betting. Benter earned nearly $1 billion through the development of one of the most successful analysis computer software programs in the horse racing market.
Benter has served as president of Hong Kong Rotary Club, founded the Benter Foundation, is Chairman and International CEO of Acusis LLC, Pittsburgh, Pennsylvania, and occasionally lectures university students on subjects like statistics and mathematical probability.
Early life and career
William Benter was born and raised in Pittsburgh, Pennsylvania. As he grew up, he wanted to use his mathematical talents to make a profit so immediately after finishing a university physics degree in 1977, he went to the blackjack tables in Las Vegas and used his skills to count cards. He came across the book, Beat the Dealer, by Edward O. Thorp, which helped him improve his methods. Seven years later, he was banned from most of Vegas’ strip’s casinos.
Benter then met with Alan Woods, a like-minded gambler whose expertise in horse racing complemented his own in computers. The two became racing partners and in 1984, moved to Hong Kong. Starting with a mere US$150,000 (equivalent to US$353,331 in 2017), the pair relied on their mathematical skill to create a formula for choosing race winners.
Using his statistical model, Benter identified factors that could lead to successful race predictions. He found that some came out as more important than others. Benter later worked with Robert Moore.
In 2007, Benter founded the Benter Foundation.
Benter is a big contributor to charity and political groups. According to political campaign contribution records, in 2008 Benter and Acusis were listed as donors to Barack Obama’s presidential campaign and the Democratic Party of Virginia. In 2010, The Advantage Trust donated to Israeli-based organization Rabbis for Human Rights. The Atlantic reported in 2010 that Benter had raised and given at least US$800,000 in support to J Street.
In 2012, Benter donated one million dollars to the University of Pittsburgh. In 2013, Fox News reported that Benter donated thousands of dollars for pro-Hagel ads in Politico when he was nominated to be next Secretary of Defense by President Obama.
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- "The Gambler Who Cracked the Horse-Racing Code". Bloomberg.com. 2018-05-03. Retrieved 2018-05-04.
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- "Soros revealed as funder of liberal Jewish-American lobby". The Washington Times. Retrieved 2017-04-21.
- "Bill Benter, the richest of them all, but who is he? - Gambler Profiles". www.gambler-profiles.com. Retrieved 2017-04-20.
- "Media Matters funder bankrolls pro-Hagel campaign". Fox News. 8 January 2013. Retrieved 2017-04-21.
- Turque, Bill (2016-04-04). "Middle East peace activist wants to take fight to Republicans in Congress". Washington Post. Retrieved 2017-04-21.
- Hausch, Donald B.; Lo, Victor S. Y.; Ziemba, W. T. Efficiency of Racetrack Betting Markets. World Scientific. pp. 183–198. ISBN 9789812819192. Retrieved 2017-04-21.
- "An Interview with Bill Benter". macau.rotary3450.org. Rotary Club of Macau. Retrieved 2017-04-20.