Benny Binion
Childhood
Born in Pilot Grove, Texas, north of Dallas, Binion's early life was marked by health issues that kept him out of formal schooling. Instead, he accompanied his father, a horse trader, on his travels. This unconventional upbringing proved formative, exposing the young Binion to the world of chance and wagering that often accompanied such gatherings. It was during these formative years that he learned to gamble, a skill that would later define his career.
Career
Benny Binion's career began in illegal gambling, including moonshining and running numbers games in Texas, marked by criminal charges and convictions. 1 He relocated to Las Vegas in 1946, eventually opening the influential Binion's Horseshoe in 1951. 2 His casino was known for high betting limits and generous player treatment, setting new standards in Vegas. Despite a tax evasion conviction, Binion remained a key figure, notably founding the World Series of Poker (WSOP) in 1970, which significantly boosted poker's popularity.
Personal life
Benny Binion was married to Teddy Jane, and together they had five children: two sons, Jack and Ted, and three daughters. Teddy Jane played a significant role in the operation of the Horseshoe, managing the casino cage until her passing in 1994. His children also became involved in the family business.
Revenue
Information regarding Benny Binion's precise revenue figures is not readily available in public records. However, it is evident that Binion's Horseshoe was a highly successful and profitable casino, particularly known for attracting high-stakes gamblers.
Interesting facts
Binion's FBI file reportedly documented a criminal history dating back to 1924. He was known for his generosity towards patrons, famously offering low-priced, high-quality food and beverages.
Binion's Horseshoe was the first downtown Las Vegas casino to have carpeted floors.
He was instrumental in bringing the National Finals Rodeo (NFR) to Las Vegas and personally paid the entry fees for all participating cowboys for their championship event. Boyd Gaming later continued this tradition after the Horseshoe's closure. Binion owned a champion cutting horse named "Nigger" (later referred to as "Benny Binion's Gelding"), which won the National Cutting Horse Association (NCHA) World Championship three years in a row (1946-1948).
In 1949, Binion famously arranged a five-month head-to-head poker match between Johnny Moss and Nick "The Greek" Dandolos. (Note: Some accounts dispute the timing of this event in relation to Binion's casino ownership in Las Vegas.)
Binion was inducted posthumously into the Poker Hall of Fame in 1990 for his contributions to the game.
Legacy
Benny Binion's legacy is deeply intertwined with the development of Las Vegas as a global gambling destination and the popularization of poker. His establishment of Binion's Horseshoe set a new standard for player treatment and high-stakes action. More significantly, in 1970, he organized a gathering of top poker players that evolved into the World Series of Poker (WSOP). Initially a small, invitation-only event, the WSOP has grown into the world's most prestigious and widely recognized poker tournament, a testament to Binion's vision, even though he underestimated its future.
His emphasis on catering to players regardless of their betting size and his creation of a unique "cowboy" atmosphere contributed significantly to downtown Las Vegas's distinct character. Binion's influence can still be felt in the gambling industry's customer service approach and high-stakes poker's enduring appeal.
Frequently asked Questions
Benny Binion was primarily known for establishing the successful Binion's Horseshoe casino in downtown Las Vegas, for his high betting limits and generous treatment of players, and for his instrumental role in creating the World Series of Poker. He was also known for his "cowboy" persona and his earlier involvement in illegal gambling operations in Texas.
Yes, Benny Binion had a documented criminal history. He was convicted of manslaughter in 1931 for the shooting death of a rumrunner. His FBI file reportedly contained records dating back to 1924, including convictions for moonshining. He was also implicated in, but never convicted of, the deaths of rival gambling operators in the 1930s. In 1953, he was convicted of tax evasion and served time in federal prison.
Binion's Horseshoe was unique for several reasons. It was known for its exceptionally high betting limits, its policy of accepting any initial bet size, and its generous treatment of all players with complimentary drinks and other perks. Binion also created a less glamorous, more player-focused atmosphere, emphasizing good value in food and drink alongside the gambling experience. The casino was also the first in downtown Las Vegas to have carpeting and offered 100-times odds at craps.
Benny Binion's most significant contribution to poker was the creation of the World Series of Poker (WSOP). In 1970, he invited a small group of top players to compete in a series of poker games, an event that evolved into the annual WSOP, now the most prestigious poker tournament in the world. His vision helped popularize Texas Hold'em and elevate poker's status as a major spectator sport and competitive game.
After Benny Binion died in 1989, his family continued to operate the Horseshoe. His daughter, Becky, eventually took over as president in 1998. However, the casino faced financial difficulties and, in 2004, federal agents seized $1 million from its bankroll. This led to its closure and subsequent sale to Harrah's Entertainment. It now operates as Binion's Gambling Hall and Hotel under the ownership of TLC Gaming Group.
