Well-known Las Vegas bookie Jimmy Vaccaro has decided to retire after 50 years in the business. The 79-year-old had most recently been working as an oddsmaker at the South Point up until July when he decided to move back to his hometown of Trafford, Pennsylvania.
Talking to local media, he said that it was time to retire and that he’s looking forward to relaxing and doing nothing. He didn’t rule out working with another sportsbook in some capacity in the future.
His first foray into running a sports betting business was opening the Royal Inn sportsbook in the 1970s. In subsequent years, he moved on to several other properties, including the MGM Grand, Golden Nugget, and The Mirage.
Perhaps his most noteworthy moment was when he decided to take bets on Mike Tyson’s 1990 fight against Buster Douglas. Most other operators refused as Tyson was such an overwhelming favorite as the undefeated heavyweight champion.
losing bettor had wagered $420,000 at odds of +4200 on a Tyson victory
Despite being the massive underdog, Douglas won the bout. One losing bettor had wagered $420,000 at odds of +4200 on a Tyson victory, which would have generated a return of just $10,000.
