William Benter, aka Bill Benter, is a Professional gambler and philanthropist. He became one of the wealthiest gamblers in the world due to an algorithm that he wrote for the horse racing industry. His earnings surpassed $1 billion from this algorithm.
He was born in 1957 in Pittsburgh and studied Physics after completing High School. However, he never graduated as he dropped out of University at the age of 22 and went to Las Vegas. He had read a book by which was about card counting, and he wanted to see if the theories in the book worked.
Bill Benter meets Alan Woods
Whilst Bill Benter was living in Vegas; he worked various small jobs to make ends meet. One of these jobs was at Macdonalds, where he met an Australian chap called Alan Woods, who became his partner. At the time, Alan Woods lead a card-counting team which Bill Benter joined. Inevitably the casinos in Las Vegas blacklisted them eventually, so they then set their sites on horse racing.
This is where Bill Benter’s Horse Racing algorithm came into play, and they used this algorithm along with Alan Woods mathematical skills to create a formula to choose winners of each race.
They focused their attention on the Hong Kong Horse Racing market, as there were only two racetracks and minimal horses, so it was easier to predict a winner.
For the first two years, they lost over $150 000, but in the third year, they made a profit of $100 000. However, by this time, they both had their own ideas on the best betting model and landed up parting ways.
After splitting up with Alan Woods, Bill Benter then created his own computer model which made him a very wealthy man.
Nowadays, Bill Benter is a guest speaker at Universities and Human Rights organisations.