Sports Whale Play Betting Explained

by Will Brown, April 14, 2025

The term “whale” to describe high-rolling VIP players with an enormous bankroll emerged from the competitive gambling scene decades ago. The term has since been adopted in several other unrelated sectors, including the luxury retail sphere and online gaming. Many may not realize, though, that whale play betting can have a large impact on not only the services that sportsbooks provide but also the quality of the betting lines themselves. We’ve explored all this and more in this guide.

What is Whale Sports Betting?

Before we get too far into this guide to the sports betting whale phenomenon, we’ve explained the origins and evolution of the term. From there, we’ve explored how these large investments in betting markets have ramifications for the wider betting community.

Other topics that we’ve covered are the standard characteristics of whale bettors, the best modern online sportsbooks that cater to them, and some common myths surrounding whale betting. Finally, we’ve looked at some worthy books, films, and other media centered on gambling whales.

• The Origin of the Term
• Impacts of Whale Betting
• Characteristics of Whale Bettors
• The Best Sportsbooks for Whales
• Common Myths About Whale Bettors
• Whale Bettors in Media

The Origin of the Term “Sports Betting Whale”

While the exact date and place of the term “whale” is unknown, we do know that the term emerged in the competitive gambling scene in the 20th century. Essentially, a whale is considered to be someone who spends an exorbitant amount on gambling, whether it be thousands or millions on a hand.

This is in line with other aquatic metaphors used at casinos or in competitive poker. For example, a “fish” is considered an inexperienced player who is easily beaten by skilled opponents. A “shark”, on the other hand, is a highly skilled player who preys on the inexperienced fish.

Using this same line of reasoning, the term whale can often have negative connotations, in that while they are large, they are still vulnerable to being exploited by casinos or sharks. However, this is not always the case, and often the term is interchangeable with that of “high-rollers”.

For many, the term was introduced in the 1995 film “Casino”, where Robert De Niro’s Ace Rothstein described a gambler as a whale “who plays thirty-thousand a hand in baccarat.” While the term came to prominence in poker, other activities such as whale sports betting are now commonly used.

It has also been used by other industries, such as luxury retailers who can sell an excessive amount to a rich client with frivolous spending habits, or even in online gaming. This emerged through the use of loot boxes, which randomly award valuable perks to players for money. Unlike most players, a whale’s large bankroll allows them to repeatedly play until the most valuable prizes are accrued.

The Impact of Whale Betting

While bookmakers establish lines based on statistical analysis, environmental factors, and historical details, odds will change once the markets are open. This is because the public’s betting activity will how bettors believe an outcome will unfold, whether or not research, statistics, or simple biases inform it.

Whale play betting can not only impact the bottom line of casinos and sportsbooks but also have rippling effects that affect all bettors. Take, for example, a sportsbook that lists odds for the Super Bowl between Kansas City and San Francisco, with the Chiefs opening as 1.5-point favorites.

If a sports betting whale were to back the 49ers with a $5 million bet, this would impact the line. The sportsbook then may shift the 49ers to be favorites, whether or not this seems statistically likely. This complex interference would be based on reducing potential losses and is why sportsbooks tend to limit bet sizes.

The shifting nature of odds in sports betting leaves it particularly vulnerable to whale betting. This differs from casino games such as roulette, blackjack, or baccarat, which have fixed odds that theoretically mean they will ultimately recoup any losses, while the skill of poker games also leaves many whales more vulnerable than advantaged.

The Characteristics of Whale Bettors

So with the whale bet meaning firmly defined, what else do we know about whales? The most obvious feature is their bankroll size. Whale bettors will usually have millions of dollars set aside to gamble, allowing them to place wagers between $10,000 to $1 million depending on their arrangements with sportsbooks.

These bets may equate to thousands of single bets from regular players, meaning that their prediction could be overly represented in the lines. Not only will this impact the lines of a single sportsbook, but many other betting operators will usually follow to stay competitive.

Whale bettors may also be high-profile celebrities or personalities, though it’s more likely that they prefer privacy. To do this, they will often form close relationships with the management of certain casino resorts or sportsbooks, offering their loyalty in favor of discretion and preferential treatment.

This VIP treatment can include access to the establishment’s most prestigious suites, a personal account manager, access to high-rolling gambling rooms, special promotional offers, increased betting limits, and other exclusive perks. One of the most well-known whales is Kerry Packer, an Australian billionaire who became a fixture on the Las Vegas Strip in the 1990s.

Packer was known to make bets valued at over $150,000 per hand, regularly winning or losing millions of dollars at a time. He also had a reputation for calling casinos beforehand to ask how much money they had in their cage, and if it was less than $800,000, would avoid them entirely.

The Best Sportsbooks for Whale Bettors

Several operators behind the best online sportsbooks offer VIP-tiered memberships that cater to whale play betting. In regular instances, players will slowly climb the loyalty tiers to unlock increased perks, with the top tier being VIP. This invite-only level can take tens of thousands of dollars in regular spending to reach this tier.

However, whale bettors may be able to reach out to major US sportsbooks to quickly establish themselves as VIPs. This can see their deposit limits quickly increased and a personal customer care representative assigned to facilitate their whale play betting. MGM Resorts’ BetMGM has one of the most lucrative VIP tiers available.

The Noir tier awards complimentary travel, dining credits, and tickets to shows among their perks, though there would likely be enhanced perks for the largest spenders. After all, it’s common for major casinos to offer free private jet travel to their resorts to lure whales.

Caesars Rewards program is also known for its tiered loyalty program, with Seven Stars being the highest level. This includes free luxury retreats, cruises, free air travel, and luxury room upgrades. Other online sportsbooks with lucrative VIP programs include DraftKings, FanDuel, and BetRivers.

Common Myths About Whale Bettors

Due to the private nature of most whales, there are several misconceptions surrounding their activity. Firstly, one is that they are professional gamblers. As we’ve covered earlier, there is often a distinction to be made between high-rollers and whales, with whales often seen to be the easier to exploit.

Although this is not always the case, whales can often be wealthy gamblers who may not play frequently but when they do, they bet large. It is rare for professional gamblers to be whales as they will be more systematic about bankroll management, with executives, tech entrepreneurs, and heirs to fortunes common whales.

It is also a myth that sportsbooks fear the activity of whales. While their spending can impact their betting lines in unpredictable ways, sportsbooks usually court whale sports betting due to their significant investment. Operators have tactics to offset the risks involved with their bets, and potential large wins are usually offset by their large losses.

Whale Bettors in Media

If you still want to do your own research on what is a whale play in sports betting, there are several great books, films, and articles about the subject. You may want to start with Michael Stahl’s “Kerry Packer: Tall Tales and True Stories”. This book covers some of Packer’s most famous exploits at high-stakes tables.

For a fairly recent true-to-life example of an unfortunate whale, The Whale That Nearly Drowned the Donald is a fascinating article about a former billionaire’s troubles with Trump Casino. Another book that covers the behind-the-scenes actions by casinos in their pursuit of whales is “Whale Hunting in the Desert: Secrets of a Vegas Superhost” by Deke Castleman.

When it comes to movies, countless examples detail the secretive, high-stakes worlds of whale gamblers. These include “Molly’s Game”, “Casino”, “The Cincinnati King”, and “High Roller: The Stu Ungar Story.” These stories provide fascinating insights into these wealthy players and are often cautionary tales about excess.