Legendary Las Vegas Bookmaker Jimmy Vaccaro Retires After 50 Years
Jimmy Vaccaro, a prominent figure in the Las Vegas sports betting industry, has officially retired after an impressive 50-year career. The former bookmaker at South Point, who is set to turn 80 on October 5, relocated back to his hometown of Trafford, Pennsylvania, in July. Reflecting on his long tenure, Vaccaro stated, “It’s been a great ride, but we all get old. It was time. Fifty years is enough. I want to spend some time just doing nothing.”
While Vaccaro has stepped away from his daily role, he left the door open for a potential return to Las Vegas. “Everything can change in a minute,” he remarked. He acknowledged that the adjustment to a quieter life will take time. “Buying a house and getting a car, that’s way over my head when I have to do it on my own,” he shared, humorously noting his unfamiliarity with household tasks.
Vaccaro’s journey in the betting world began in 1975 when he started as a blackjack dealer at the Royal Inn. The casino’s owner, Michael Gaughan, allowed him to attend dealer school with a promise to repay the $250 fee when he could. Gaughan later invited Vaccaro to assist in opening the Royal Inn’s sportsbook, leading to a pioneering partnership that shaped the landscape of sports betting in Las Vegas.
In 1979, they launched the Barbary Coast sportsbook. Over the years, Vaccaro would manage books at notable establishments such as the original MGM Grand and the Golden Nugget, before creating the sportsbook at The Mirage for Steve Wynn in 1989. His reputation soared when he offered odds on the historic fight between Mike Tyson and Buster Douglas on February 11, 1990. Tyson was heavily favored at 42-1, but Douglas’s shocking victory marked one of the biggest upsets in sports history. This event later featured in the ESPN documentary 42 to 1.
“The Mirage opened a new era,” Vaccaro explained. “We got a new type of person coming to sportsbooks.” He recounted a bettor who wagered $420,000 to win $10,000 on Tyson. When the bettor returned the next day, he was surprisingly cheerful despite his loss, highlighting the highs and lows of sports betting.
Vaccaro’s influence extended beyond the betting counter. He made a guest appearance in a 1995 episode of “The Simpsons,” where he humorously assessed betting odds on the fictional mystery of “Who shot Mr. Burns?” His involvement in the show earned him a consistent income through royalty checks, showcasing his flair for cross-promotion in the gaming industry.
His contributions to sports betting also include the creation of season win totals, a concept he introduced in 1989. This innovative idea arose when high-stakes gambler Jack Keller asked him for predictions regarding the Dallas Cowboys’ performance under new coach Jimmy Johnson. Vaccaro proposed an over-under of 5.5 wins, which led to widespread interest among bettors.
Despite the Cowboys ending that season with a disappointing 1-15 record, the idea of setting win totals became a standard in sports betting, reflecting Vaccaro’s forward-thinking approach. He continued to shape the industry by working with various sportsbooks before reuniting with Gaughan at South Point in 2013.
“Michael Gaughan gave me a chance to do this,” Vaccaro acknowledged, expressing gratitude for the opportunities that defined his career. As he steps into retirement, his legacy as a trailblazer in sports betting remains firmly established, marking the end of an era in Las Vegas sports gambling.
