William Bergstrom: The World’s First $1 Million Gambler
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Introduction: William Bergstrom
Have you ever heard the name of William Bergstrom? Those who can afford to bet a million dollars are, not surprisingly, very rare people. Billy Walters and Floyd Mayweather spring to mind. But they are among a very select few who have both the cash and the balls to bet so big. Walters wagered a mere $2.2 million on the USC Trojans beating the Michigan Wolverines in football. he won as the score was 32 – 18. For his part, Mayweather took a punt of $5.9 million on the Miami Heat beating the Indiana Pacers in the NBA Playoffs of 2013. Heat won the game and earned the professional bettor a total of $600,000.
But these are very rare occurrences, even in modern times. So you can imagine what a huge hullabaloo it must have been back in 1985 when William Bergstrom made the first $1 million bet.
Who Was William Bergstrom?
Born in Austin in Texas in 1952, his younger years were not especially happy ones. His parents divorced when they were still young and William spent much of his early years struggling to gain both attention and respect from his rather distant father. After graduating from Austin High School, he enrolled at Texas State Tech University where he studies electrical engineering. All the while he also worked as a private pilot and waited tables in a restaurant close by the campus. After a brief stint at the University of Texas after a transfer there in 1974, he decided to drop out of further education completely.
In the era of the boomers, getting into real estate marketing and sale seemed like a good prospect. So Bergstrom Set himself up as a real estate broker and set to work in the Lone Star State. And he found he certainly had a gift for the work as the business grew at a phenomenal rate.
Bergstrom Borrows Money to Make Huge Craps Bets
Now he was making a very comfortable living as a real estate agent, he hankered for something even bigger. Because he had always been wary of debt and had maintained a great relationship with the various lenders for whom he was a constant source of new home buying customers, he had a great credit score. In 1980 he was able to secure huge amounts in loans, which we’re going to guess that the banks thought was going to be spent expanding his existing business. How wrong they were! All in all, he managed to get together the sum of $777,000. His plan was never to continue with real estate. It was to go gamble and use an array of jackpot winning tips and tricks to win money at the craps table.
William Bergstrom: Massive Wins During First Trip to Binion’s Gambling Hall
In 1980, on September the 24th, Willian Bergstrom walked into the Binion’s Horseshoe Casino which is situated on Fremont Street in Las Vegas. Like a true boss of his own destiny, he carried two suitcases. One was filled with the $777,000 he bought to gamble with. The other suitcase was empty, as that was what he’d use to carry home his winnings. This casino was chosen for a specific reason. Namely that it’s the owner would accept high rollers. It’s owner, Benny Binion always made it a point to accept any bet no matter how large if it was the player’s first bet at the casino bearing his name.
On that day, William Bergstrom earned a couple of nicknames. The first was “The Suit Case Man” and the second, “The Phantom Gambler” as no one knew who he was.
Bergstrom appeared to know his craps bets. He appeared to have his jackpot winning strategies already worked out. And so he bet everything, that’s the whole $777,000, on a don’t pass the line bet. He had a stroke of good fortune with this first bet as the shooter evened out after establishing a point of six. Nevertheless, it meant that this was a winning bet. Benny Binion helped Bergstrom stack his prize of $777,000 into the empty suitcase. And so William took his leave of the casino. Having won just the single bet on his first-ever visit. But what a win!
Bergstrom Returns and Wins Big Again
The Binion Horseshoe Casino had to wait another three and a half years before they saw William again. Of all the casinos he could have tried, he returned to his favorite of all casinos to win the jackpot once again. This time he also bought a suitcase. With $538,000 inside. On the 24th March 1984, he bet the entire amount an another don’t pass the line craps bet. whilst he’d been away since his last visit, he’d been traveling the world. Now he wanted to add something more to his fortune. And once again, Lady Luck saw him win the bet and pocket a $538,000 win. And then he upped and left. Like a phantom!
William Bergstrom: The Ill-Fated $1 Million Bet
Instead of years, he returned to the Binion within months, showing up again in November of 1984. This time his suitcase contained $1 million. This total was split up as$550,0000 in cash, $140,000 in gold Krugerrands (South African gold coins), and $310,000 in checks. Having previously rocked the establishment with wins of $777,000 and then $538,000, expectations were running high. William was to be the very first recorded instance of a wager of $1 million on a single outcome.
But Lady Luck was taking a nap. Once again he had wagered everything on a don’t pass the line bet. The shooter then tossed a seven on the come-out roll. Bergstrom lost. Just a few months later he was to take his own life by overdosing on prescription meds. He was just 33 years old.
Why Did Bergstrom Take His Own Life?
No one really knows anything about William Bergstrom before his famous gambling sessions at Binion’s. That’s why he had the nickname of the Phantom Gambler. But he did open up a little to Benny Binion after his $1 million loss. His story after his suicide made the National news. Benny Binion was interviewed about Bergstrom. ″He told me he’d wake up in the middle of the night 30 days before making the bet and decide to do it,″ Binion explained. ″When he bet the $1 million he brought $700,000 in cash and the rest of it in cashier’s checks and dumped it at the casino cage.″
Love Life Problems
After losing the £1 million bet, Binion said that the two men talked for over an hour. Apparently, William was gay and was having a hard time dealing with a breakup with his 10 years junior partner. ″He kind of gave me his last story on Sunday,″ Binion explained. ″I could tell he was quite despondent and I told him in six months he’d be over with it and it wouldn’t hurt so bad. I didn’t wake up to the fact he was going to kill himself because he was talking about how he’d like to go to work for us in the future.″
A Good Loser
The casino owner went on to say that he was very impressed with the way William took his enormous loss. “He was betting all he had,” said Binion, “but he never flinched when he lost that million.” It’s known that in his last few hours, he passed the time at Binion’s casino where he bet $10,000. No one is certain whether he bets this or simply gave it away. The suicide note asked that he be cremated and that his remains be stored in an urn. The inscription needs to read, “The Phantom Gambler, Bet $1 Million at the Horseshoe Club, November 1984.”
Conclusion: William Bergstrom
When you think of high rollers, you probably imagine wealthy magnates and successful professional gamblers. People who bet almost to pass the time as they are so wealthy that money has lost its value. No one thinks of a guy who risks everything on the single throw of the dice. But that’s exactly what William Bergstrom did. And he did it and won twice. We may never know what drove this young man to take such a risk. And then later, sadly, take his own life. But his name will forever be written in the casino lights as the first gambler to place a $1 million bet.
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