Jimmy Vaccaro, a prominent figure in the world of sports betting, has officially retired after an impressive 50-year career. The Sports Gambling Hall of Famer concluded his role as an oddsmaker at South Point in July and has returned to his hometown of Trafford, Pennsylvania. As he prepares to turn 80 on October 5, 2023, Vaccaro reflects on his journey, saying, “It’s been a great ride, but we all get old. Fifty years is enough. I want to spend some time just doing nothing.”
Despite his retirement, Vaccaro has not completely closed the door on a return to Las Vegas. He mentioned a potential return to sports betting, adding, “Everything can change in a minute. 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 acknowledged the challenges of adjusting to life away from the fast-paced environment of Las Vegas, saying, “Buying a house and getting a car, that’s way over my head when I have to do it on my own.”
Foundations of a Betting Dynasty
Vaccaro’s story in the betting industry began in 1975 when he started working as a blackjack dealer at the Royal Inn. The owner, Michael Gaughan, allowed Vaccaro to attend dealer school on the condition that he would repay the $250 fee when he was able. Gaughan later invited Vaccaro to help launch a sportsbook at the Royal Inn, marking the beginning of a remarkable partnership.
In 1979, they opened the Barbary Coast sportsbook on the Las Vegas Strip. Vaccaro gained national recognition in the 1990s when he managed the sportsbook at The Mirage, owned by Steve Wynn. Notably, he offered odds on the infamous fight between Mike Tyson and Buster Douglas on February 11, 1990, where Tyson was a staggering 42-1 favorite. Douglas’s victory is regarded as one of the biggest upsets in sports history.
“When The Mirage opened, it was a new era. We got a new type of person coming to The Mirage and sportsbooks in general,” Vaccaro said.
Vaccaro’s decision to accept bets on Douglas’s victory led to a wave of media attention. Wynn himself called Vaccaro into his office, quipping, “What the hell did you do?” and encouraging him to continue his innovative approach.
A Multifaceted Career Beyond Sports Betting
Beyond his contributions to the sports betting world, Vaccaro made a unique appearance on television in 1995. He featured as a live-action character in the The Simpsons special, “Springfield’s Most Wanted,” where he analyzed betting odds related to the show. Reflecting on this experience, Vaccaro recalled, “I was the first human on that show. The best part about that was the royalty checks ($600 a month).”
His brother, Sonny Vaccaro, also has a notable connection to the entertainment industry, having been portrayed by Matt Damon in the film “Air,” which tells the story of how he secured a shoe deal with Michael Jordan.
In addition to his television appearances, Vaccaro is credited with creating season win totals for NFL teams. In 1989, he was approached by high-stakes gambler Jack Keller, who asked for predictions on the Dallas Cowboys’ performance under new coach Jimmy Johnson. Vaccaro set the over-under at 5.5 wins, a decision that quickly gained traction among bettors.
The Cowboys initially struggled that season, finishing with a record of 1-15 before transforming into a dominant force in the NFL, winning three Super Bowls from 1993 to 1996.
Vaccaro worked with several prominent sportsbooks, including Leroy’s and William Hill, before reuniting with Gaughan at South Point in 2013. Reflecting on his career, he expressed gratitude to those who supported him, stating, “I was very, very fortunate to have Michael Gaughan give me a chance to do this.”
As Vaccaro steps back from the spotlight, he leaves behind a legacy marked by innovation, resilience, and a deep love for the world of sports betting. His journey, filled with both triumph and challenges, serves as an inspiration for future generations within the industry.