Jimmy Vaccaro, a prominent figure in the world of sports betting, has officially retired after an illustrious career spanning over 50 years. The 79-year-old, who celebrated his birthday on October 5, 2023, concluded his tenure as oddsmaker at South Point in July before relocating to his hometown of Trafford, Pennsylvania. Reflecting on his long journey, Vaccaro commented, “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 has not completely ruled out a return to the betting scene. He hinted at the possibility of future engagements in Las Vegas, stating, “Everything can change in a minute. 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.” The transition to retirement has not been without its challenges, as he expressed uncertainty about everyday tasks, saying, “Buying a house and getting a car, that’s way over my head when I have to do it on my own.”
Pioneering a New Era in Sports Betting
Vaccaro’s journey in the betting industry began in 1975 at the Royal Inn, where he started as a blackjack dealer. Owner Michael Gaughan supported his ambitions by allowing him to attend dealer school, under the condition that Vaccaro would repay the $250 fee once he was able. Shortly after, Gaughan invited Vaccaro to help open a sportsbook at the Royal Inn, leading to the establishment of the Barbary Coast sportsbook on the Las Vegas Strip in 1979.
Throughout the 1980s, Vaccaro ran sportsbooks at prestigious venues such as the original MGM Grand and the Golden Nugget. His most notable achievement came in 1989 when he opened the sportsbook at The Mirage for owner Steve Wynn. Vaccaro gained national recognition when he offered odds on the famous upset of Mike Tyson by Buster Douglas on February 11, 1990. Tyson, who was then an undefeated champion, closed as a 42-1 favorite. Douglas’s victory is now regarded as one of the most significant upsets in sports history, leading to Vaccaro’s feature in ESPN’s documentary titled “42 to 1.”
“When The Mirage opened, it was a new era,” Vaccaro recalled. “We got a new type of person coming to The Mirage and sportsbooks in general.” He shared an anecdote about a bettor who wagered $420,000 to win $10,000 on Tyson, illustrating the high stakes that defined his career.
A Lasting Impact on the Betting Industry
Vaccaro’s influence extended beyond conventional betting practices. He was involved in creating season win totals in 1989 when high-stakes gambler Jack Keller approached him about the anticipated performance of the Dallas Cowboys under new ownership and coaching. “It took me about five minutes to think about it,” Vaccaro recounted, indicating the innovative approach he brought to sports wagering.
The Cowboys finished that season with just one win, but Vaccaro’s idea revolutionized betting markets and remains a staple in sports betting today. His career also included stints with Leroy’s and William Hill sportsbooks before reuniting with Gaughan at South Point in 2013.
Vaccaro’s contributions to the culture of sports betting are not just limited to odds-making. He made a memorable appearance as a live-action character in the 1995 special “Springfield’s Most Wanted” from the animated series “The Simpsons,” where he analyzed betting odds for a fictional storyline. “I was the first human on that show,” he noted, humorously reflecting on the experience.
His family also shares ties to sports and entertainment; his older brother Sonny Vaccaro was portrayed by Matt Damon in the film “Air,” which chronicles his efforts to secure a shoe deal for basketball legend Michael Jordan with Nike.
As Vaccaro steps away from the bustling world of sports betting, he leaves behind a legacy marked by creativity, innovation, and a profound impact on the industry. His journey, filled with memorable moments and significant contributions, has shaped the landscape of sports wagering, making it more accessible and engaging for fans worldwide. Vaccaro concludes, “I was very, very fortunate to have Michael Gaughan give me a chance to do this. It was a great ride.”
