What Is A Hi Roller?

A high roller, also known as a whale or cheetah, is a gambler who consistently wagers large amounts of money.¹ They are given special treatment at casinos and provided with VIP services and amenities. High rollers often have massive gambling budgets and exhibit risk-taking behavior.

The definition of a high roller varies across casinos, but they are typically identified as those who bet tens of thousands or even millions of dollars per trip. The amounts that a high roller is willing to gamble distinguish them from an average casino player.

Some key characteristics of high rollers are that they have very high gambling budgets, exhibit risky betting behavior, receive VIP services from casinos, and bet amounts that far exceed average players.

Wealth

Hi rollers are casino players that have a large bankroll and budget to spend on gambling. Typically, hi rollers will have at least $50,000 or more in their bankroll to gamble with (Source). This means they can comfortably afford to make large bets, sometimes up to $25,000 on a single hand of blackjack or spin of the roulette wheel. For high rollers, six figure bets are not uncommon.

Having deep pockets allows hi rollers access to exclusive VIP services and perks from casinos. Their substantial gambling budget and potential to lose big sums means casinos are eager to attract hi roller business. As a result, hi rollers often receive complimentary amenities like free suites, meals, entertainment, and transportation in hopes they will spend freely at the casino (Source). The wealth of high rollers translates into lavish treatment and luxury accommodations.

Gambling Budget

The amount high rollers budget for gambling activities varies greatly, but is always a substantial sum. Many industry sources define a high roller as someone who bets a minimum of $25,000+ per hand or $100,000+ per trip [1]. However, some casinos may extend high roller treatment to players betting $5,000 or $10,000 per hand. On average, a true high roller will gamble between $250,000-$500,000 per trip according to casino hosts [2].

Many high rollers have an enormous gambling bankroll and budget. $1 million or more per trip would not be uncommon. Famous poker player Dan Bilzerian claims to have had many multimillion dollar gambling budgets, sometimes losing millions per night [3]. While most high rollers may not gamble at Bilzerian’s level, it’s clear they come prepared to spend extravagant sums when visiting top casinos.

Luxury Treatment

Casinos go above and beyond to cater to high rollers and provide luxurious amenities and VIP services. As reported by BetMGM, high rollers often receive complimentary services like limo transportation to and from the casino, free flights on private jets, and premium suites in 5-star hotels (BetMGM). According to Cryptonews, casinos may provide high rollers with personal butler service, spa treatments, shopping sprees, tickets to exclusive events, and custom dining prepared by celebrity chefs (Cryptonews).

High rollers can also access private gambling areas with higher limits, like baccarat salons and high-stakes poker rooms. These exclusive gaming spaces offer a more personalized experience, including complimentary food and beverages, cigarette service, and massages during play. The goal is to anticipate every need and make high rollers feel like VIPs. Their lavish treatment is designed to encourage continued wagering and loyalty to the casino.

Games

High rollers tend to prefer table games with higher stakes over slots or other lower stakes options. According to sources, some of the most popular games for high rollers include:

Blackjack – Often called “21,” blackjack allows players to use strategy and skill to try to beat the dealer. High rollers appreciate the ability to influence outcomes with strategy and large bets. Games like blackjack give them more control. (Luxury Lifestyle Mag)

Baccarat – This card game has a reputation as a high stakes, high class game. The simplicity and fast pace appeals to wealthy players who want to put a lot of money into action quickly. Baccarat tables often have very high maximum bets to cater to VIP players. (PokerNews)

Roulette – Offering the ability to bet large amounts on single spins, roulette enables high rollers to place substantial wagers. The randomness provides constant excitement. High limit tables accommodate massive bets. (High Roller Bonus Casinos)

Poker – In poker rooms and tournaments with nosebleed stakes, pros and wealthy amateurs can play for enormous pots. High roller tournaments with buy-ins of $25,000 or more appeal to pros and poker enthusiasts with deep pockets.

Strategy

High rollers employ strategic betting techniques and bankroll management to maximize their wins and minimize losses. Since they are playing with large sums of money, it is crucial for them to be disciplined and calculated in their gambling approach.

Bankroll management is a key strategy, as noted in this article: High Roller Casino Bankroll Management for US Players. High rollers set aside a specific gambling budget and stick to it during each session. They pace their bets to last the allotted time and not deplete funds too quickly.

Game selection and bet placement are also strategic decisions. As explained here: The High Roller’s Guide to Winning Big in Casinos, high rollers choose games with better odds and place wagers in a calculated manner to maximize payouts.

By employing smart bankroll management, game selection, and bet placement, high rollers aim to methodically build winnings over time while controlling losses.

Risk Tolerance

High rollers have an exceptionally high tolerance for risk and losing money. They are willing to make very large bets, sometimes betting hundreds of thousands or even millions of dollars on a single hand of cards or roll of the dice. As the name suggests, high rollers play for high stakes. Unlike casual gamblers who might be distressed by losing a few hundred dollars in a session, high rollers often have the financial means to absorb substantial losses without flinching.

According to Orange Fizz, “High rollers are known for their high level of risk tolerance. Unlike casual gamblers who might be content with modest bets of $25 or $50 per hand, high-rollers routinely wager $5,000, $10,000 or more per bet.” (https://orangefizz.net/2024/02/what-are-high-rollers-in-a-casino-a-brief-overview/)

High rollers have the bankroll and temperament to withstand major losses. While an average gambler may bet with money they can’t afford to lose, high rollers play with disposable income and seldom make bets that would financially ruin them. Their high appetite for risk sets them apart.

Motivations

High rollers enjoy gambling with high stakes for a variety of psychological reasons. Many are motivated by the thrill and adrenaline rush that comes with betting large sums of money, as it creates an intoxicating feeling of risk and reward (The Mentality of High-Rollers Mindset). The potential to win big gives them an exhilarating “high” and fuels their competitive nature.

Additionally, some high rollers are motivated by the VIP treatment and comps they receive from casinos for spending so much money. According to research from Yale University, high rollers like the attention, luxury experiences, and other rewards they are given by casino staff (The Psychology of Gambling). Being catered to makes them feel important, successful, and gives them a sense of status.

High rollers may also simply have an addictive personality and are motivated by pushing the limits. As stated in research, “They are confident in their skills and are willing to trust their gambling skills in every round” (Take the Path of a High-Roller: High Stakes, High Risks). Their motivations stem from a belief in their gambling prowess and desire to test it.

Drawbacks

While the thrills and perks of being a high roller may seem enticing, this lifestyle comes with significant downsides and risks. As this source notes, high rollers are susceptible to problem gambling and addiction. The constant pursuit of jackpots and excitement can lead to compulsive gambling habits. According to SAMHSA, this addiction can destroy relationships, lead to financial ruin, and cause serious emotional distress.

Furthermore, high rollers tend to have a higher risk tolerance when it comes to gambling. As cited in this study, they are willing to lose large sums of money in pursuit of a big win. This can quickly lead to devastating losses if their luck turns sour. Even for those who can financially sustain major losses, the emotional toll of losing such large amounts can be damaging.

Additionally, the VIP treatment and free amenities lavished on high rollers can enable compulsive gambling. With casinos constantly providing incentives to keep high rollers gambling, it can be difficult to practice restraint and responsible gambling habits. This cycle often ends badly, with huge debts and a gambling addiction that has spiraled out of control.

Famous Examples

Some of the most well-known high rollers in gambling history include Archie Karas, Kerry Packer, Akio Kashiwagi, Bill Benter, Alan Woods, Zhenli Ye Gon, and Terrance Watanabe.

Archie Karas is a Greek-American gambler who went on an epic winning streak in the early 1990s, turning $50 into over $40 million by playing high-stakes poker, dice, and pool. However, he eventually lost his entire fortune.

Australian media tycoon Kerry Packer was known for his massive bets, including wagering over $20 million on a series of backgammon games in Las Vegas. Billionaire horse bettor Alan Woods famously won over $600 million before his death in 2008.

Some other famous high rolling gamblers through history include wild-spending whale Akio Kashiwagi and American real estate mogul Terrance Watanabe, who both lost fortunes in Las Vegas. Famed mathematician Bill Benter used algorithms to beat the horse tracks in Hong Kong for over $1 billion in winnings.