Jimmy Vaccaro, a prominent figure in the Las Vegas sports betting scene, has officially retired after a distinguished career spanning over 50 years. The Sports Gambling Hall of Famer, who will celebrate his 80th birthday on October 5, stepped down from his role as an oddsmaker at South Point in July and has since returned to his hometown of Trafford, Pennsylvania. Reflecting on his career, 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.”
Despite his retirement, Vaccaro hinted at the possibility of a return to Las Vegas, suggesting that his connection to the industry may not be entirely severed. “Everything can change in a minute,” he remarked. “Who the hell knows what’s going to happen tomorrow. I might do something now and then for a sportsbook. I’m sure I’ll be back in Las Vegas. But it’s going to take me a while.” He admitted that adjusting to life away from the fast-paced environment of sports betting would take time, humorously adding, “I can’t even turn the light on.”
A Pioneer in Sports Betting
Vaccaro’s journey in the sports 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 once he was able. Gaughan later enlisted Vaccaro’s help in launching the sportsbook at the Royal Inn, leading to a partnership that opened the Barbary Coast sportsbook on the Las Vegas Strip in 1979.
Throughout the 1980s, Vaccaro ran sportsbooks at various prestigious casinos, including the original MGM Grand and the Golden Nugget. His significant career milestone came in 1989 when he opened the sportsbook at The Mirage for renowned hotelier Steve Wynn. It was at The Mirage that Vaccaro gained national attention by offering odds on the iconic boxing match between Mike Tyson and Buster Douglas on February 11, 1990. Tyson was a staggering 42-1 favorite, yet Douglas achieved a monumental upset, knocking out Tyson and solidifying Vaccaro’s place in sports betting history.
Vaccaro’s decision to take bets on the match was considered revolutionary. He recalled that a bettor wagered $420,000 to win $10,000, illustrating the high stakes involved. Following the upset, Vaccaro was inundated with media requests, prompting Wynn to commend his approach, saying, “Whatever you did, keep doing it.”
Beyond Sports Betting
In addition to his work in the sportsbook industry, Vaccaro made a notable appearance in popular culture. He featured as a live-action character in the 1995 TV special “Springfield’s Most Wanted,” a spin-off of the beloved animated series “The Simpsons.” In this unique role, Vaccaro analyzed betting odds for the hypothetical question of “Who shot Mr. Burns?” He humorously noted the financial rewards from the appearance, stating, “The best part about that was the royalty checks ($600 a month).”
Vaccaro’s family background also intersects with the entertainment industry. His older brother, Sonny Vaccaro, was portrayed by Matt Damon in the film “Air,” which chronicles the quest to secure a shoe deal with NBA legend Michael Jordan.
The birth of season win totals in 1989 is another one of Vaccaro’s legacies. When high-stakes gambler Jack Keller asked him how many games the Dallas Cowboys would win in their first season under coach Jimmy Johnson, Vaccaro creatively set the over-under at 5.5. The bet quickly gained traction, spreading through Las Vegas and attracting nationwide attention. Vaccaro reflected on the moment, saying, “To this day, that’s a big thing in every sport.”
After a successful career, Vaccaro worked for various sportsbooks, including Leroy’s and William Hill, before reuniting with Gaughan at South Point in 2013. He expressed gratitude for the opportunities he received throughout his career, stating, “I was very, very fortunate to have Michael Gaughan give me a chance to do this. Then I was hired by Kirk Kerkorian and Steve Wynn. It was a great ride.”
As Vaccaro embarks on this new chapter of life, his impact on the sports betting industry remains undeniable. His innovations and contributions have shaped the landscape of sports wagering, leaving behind a legacy that will endure in the annals of Las Vegas history.
