Fortune and Fame: The Net Worth of America’s Richest Sports Icons
Sportsfans, this is one you’re gonna want to read…
Lifestyle
Gambler, family man, racketeer, mobster, and a champion of the underdog, Lester “Benny” Binion lived a life as vibrant as Las Vegas itself. With a rap sheet that could rival a crime novel and more connections than a poker deck, he was both feared and revered. Despite his shady dealings, Benny transformed the casino industry, earning friends from all walks of life, along with a few formidable foes.
From humble roots, Benny built a gambling empire that redefined Vegas and left an indelible mark on the world. His enduring legacy? He masterminded the World Series of Poker, the pinnacle of poker showdowns that still hooks poker fans worldwide.
Born into a cotton farming family in Texas in 1904, Benny Binion’s early life was no royal flush. With no formal education but a knack for games of chance, he cut his teeth trading horses with his father and hanging around dusty campfires, soaking in the strategies of card sharks who would one day help him build a fortune worth at least $75 million.
Law enforcement files paint Benny as a seasoned troublemaker from his teens, dabbling in bootlegging, horse thievery, and armed heists, though he managed to dodge serious charges. His first brush with murder came in 1928, when he allegedly gunned down a rival during a dispute. He walked free due to lack of evidence and cooperative witnesses—a pattern that would repeat as Benny's notoriety grew.
Settling in Dallas by age 24, Benny ran an underground lottery and dealt dice at Warren Diamond’s George Hotel casino on Commerce Street. It was the beginning of a colorful career that would see Benny embroiled in everything from FBI agents’ deaths to murky kidnapping plots involving his own kin.
During the 1930s and 40s, Benny Binion became a feared and respected figure in the Dallas area. Although suspected of multiple murders, his first significant run-in with the law came in 1931 when he shot and killed rum runner Frank Bolding. Despite taking a man's life, Binion received a lenient sentence: a two-year suspended sentence, allowing him to remain free under court-mandated conditions.
Over time, Binion organized his own craps games, hosting them in exclusive hotel rooms for wealthy clientele. He eventually established several gaming clubs and aligned himself with the Dallas Mob, known for illegal gambling, racketeering, and ties to the infamous Chicago Outfit. By bribing judges, sheriffs, politicians, and even journalists, they operated largely unchecked.
The exact number of murders Binion was involved in remains unclear. In 1936, he was implicated in the killing of rival numbers operator Ben Frieden. Binion allegedly staged a self-inflicted gunshot wound to claim self-defense, successfully avoiding legal consequences. Two years later, another rival, Sam Murray, was murdered, resulting in charges against Binion's associates that were eventually dropped.
By late 1936, Binion controlled most of Dallas's gambling operations with local officials and politicians turning a blind eye. By the early 1940s, he sought to expand into Fort Worth, coinciding with the murder of local numbers game operator Lewis Tindell. While rumors linked Binion to the killing, no definitive evidence was ever found.
As anyone who’s rolled the dice knows, Lady Luck is a fickle mistress. By 1946, Binion’s reign as the big cheese in Dallas's underworld was crumbling fast. The streets of Dallas were starting to look like a free-for-all, with rival gangs popping up all over the shop, each gunning for a piece of the pie—and for Binion’s head.
His once-cozy pals in politics and the police force? Gone, replaced by a squeaky-clean district attorney who was more interested in rooting out corruption than counting bribes. Binion's illegal antics were suddenly unwelcome. The nail in his coffin? A botched attempt to send his rival, Herbert Noble, to his grave with a bomb. Facing a possible stretch in prison, and a hit list bigger than Texas, Binion decided it was time to high-tail it out of Dallas and head for the neon lights of Las Vegas.
With a suitcase full of cash and his family in tow, Binion hit the Strip in style. In the '40s and '50s, the glittering oasis in the desert was a Mobster’s playground. It was the Wild West, but with better booze and more sequins. Gangsters from all corners were turning this sleepy railroad town into a gambling mecca through a delightful cocktail of cash, coercion, and the occasional corpse.
Vegas was an “open city” for the Mob, which meant anyone with enough guts and guns could set up shop. Binion cozied up to Chicago kingpin Tony Accardo and bought a stake in the Las Vegas Club. Unfortunately, he had to bow out after a year due to some pesky licensing issues—think of it as getting kicked out of a party for showing up with the wrong invite.
Undeterred, Binion tried his luck again in 1949, opening the Westerner Gambling House and Saloon. But it turns out, partnering up in Sin City is like herding cats. Binion cashed out after a falling out with his business buddies. Meanwhile, back in Dallas, Herbert Noble was doing his best impression of a cat with nine lives, dodging hit after hit. Binion even offered a $25,000 bounty and a sweet craps game gig to anyone who could turn Noble into worm food. Tragically, Noble’s wife got caught in the crossfire of one of these attempts.
The feud went nuclear, with Noble plotting to drop bombs on Binion’s house from a plane. This scheme was cut short when the cops, in a moment of unwitting heroism, stumbled upon his plans while questioning him about another matter. But Binion’s luck didn’t hold forever; in 1951, Noble finally ran out of lives. A bomb in his mailbox did what a dozen hitmen couldn’t, giving Binion his final, bloody victory.
In the same year his old nemesis Herbert Noble was killed, Binion purchased the Eldorado Club Casino and renamed it Binion's Horseshoe. This wasn’t just any casino—it was the glittering crown jewel that would cement Binion’s legacy long after his death.
Binion was a visionary, a man ahead of his time. He turned the gambling world on its head with innovations that seemed crazy back then, but are now considered industry standard. Forget the velvet ropes; he rolled out the red carpet for everyone, not just the big spenders. Think limousines, complimentary food and drinks, plush carpets, air conditioning, and a games catalogue that could outshine the infamous Vegas skyline. Binion's philosophy was simple: "Treat them right, show them a good time, and the rest will take care of itself." And boy, did it pay off. The Horseshoe quickly became the hottest spot in town, packed with folks eager for a taste of Binion's brand of hospitality.
But even a maverick like Binion couldn’t dodge the taxman. The IRS—the one enemy he couldn’t bribe, bump off, or bully—finally caught up with him. In 1953, he was nailed for tax evasion, lost his Nevada gaming license, and was shipped off to Leavenworth Federal Penitentiary for a five-year stint.
Before serving his sentence, Binion sold the Horseshoe to New Orleans oil tycoon Joe W. Brown. But you can’t keep a good man down; by 1957, Binion had clawed back a controlling interest, and by 1964, he was back in the saddle, albeit without a gaming license. The Horseshoe expanded in the 1960s when Binion snapped up the neighboring Boulder Club, growing his empire even though he could never officially run the games again. His son Jack took over as the license holder, ensuring that the Binion name remained a fixture in Vegas for years to come.
Benny Binion’s affable charm and charismatic persona made him a hit with both tourists and locals alike. Yet amidst the glitz and glamour, Binion’s darker side—marked by violence, bribery, and more—lurked in the shadows. Always armed, he kept a pistol close at hand and a sawed-off shotgun within reach. Cheaters caught at the Horseshoe often found themselves bruised and battered on the streets.
In 1967, the murder of cab driver Marvin Shumate shook Las Vegas. Suspected of plotting to kidnap Binion’s son for ransom, Shumate met a grisly fate in the desert, his murder never officially solved. Allegedly tipped off about the plot, Binion reportedly took extreme measures to safeguard his family, though no evidence ever surfaced linking him directly to the crime.
Another unresolved mystery tied to Binion involved Bill Coulthard, a prominent figure unwilling to renew Binion’s lease on the Horseshoe’s land in the early 1970s. Despite Binion’s attempts to sway him, Coulthard’s life was tragically cut short by a car bomb before any deal could be struck. Binion retained control of his beloved casino amidst the turmoil.
Among Binion’s enduring legacies stands the creation of the World Series of Poker (WSOP). In 1970, he transformed poker forever by organizing a tournament at the Horseshoe Casino, initially a modest affair. The inaugural event, won by Johnny Moss, laid the groundwork for future WSOP triumphs.
The following year, Binion upped the ante with a $10,000 buy-in and a new format, solidifying the WSOP as a pinnacle of poker excellence. Over time, the tournament expanded, popularizing games like Texas Hold 'em and fostering legends in the poker world. Chris Moneymaker’s historic 2003 win ignited a poker boom, propelling the WSOP into a global phenomenon with millions in prize money and hundreds of events.
Benny Binion passed away in 1989, but his impact on the casino industry and poker community endures. Revered as a trailblazer and feared as a gangster, he left behind a complex legacy, remembered fondly by many patrons who experienced his hospitality and innovation firsthand.
Sportsfans, this is one you’re gonna want to read…
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