George E. Smith

Childhood

George Elsworth Smith was born on July 13, 1862, in Sewickley, Pennsylvania, to Irish immigrant Elizabeth ("Eliza") and German carpenter Christian Smith 28. After his father died in the early 1870s, financial struggles forced 12-year-old George to work in a cork-cutting factory for $5 per week—a job he despised 28.

Despite his family’s staunch Catholic disapproval of gambling, Smith secretly saved money to bet on cockfights and baseball games before discovering horse racing through telegraph broadcasts in Pittsburgh pool halls 26. At 17, he placed his first successful horse bet ($38 on a 5:1 horse named Gabriel) and soon quit his factory job to gamble full-time 28.

By 1885, he had won over $100,000—without ever seeing a live race—but his growing fame forced him to leave Pittsburgh for better odds in Chicago 26.

Career

Rise as "Pittsburgh Phil." In Chicago, gambler William "Silver Bill" Riley nicknamed him "Pittsburgh Phil" to distinguish him from other Smiths in the betting scene. Smith quickly became a "plunger"—a high-stakes gambler—and later moved to New York, dominating racetracks with his analytical approach.

Horse Ownership & Key

Wins Smith owned Pleasant Valley Stable, racing horses like

Parvenu – Initially dismissed, this horse won nine straight races, netting Smith $200,000.

Tod Sloan & Controversies

Smith hired famed jockey Tod Sloan, whose "monkey crouch" riding style revolutionized racing. However, Sloan’s lavish lifestyle and arrogance led to their split. In 1903, Smith was banned by The Jockey Club over allegations of race-fixing involving jockey Willie Shaw—a charge he denied, claiming bookmakers resented his success.

Personal life

Never married, believing women are distracted from gambling success.

Briefly courted actress Daisy Dixon, but ended the relationship after catching her with Tod Sloan.

Lived modestly, avoiding alcohol and tobacco, though he wore a diamond ring at races 28.

Revenue

At his death in 1905, Smith’s fortune was 3.25 million (113 million today), divided among his mother, brother, nephew, and niece.

Interesting facts

First live race watched: The 1885 Kentucky Derby—but he didn’t bet.

Used "beards" (proxy bettors) to avoid bookmakers adjusting odds against him.

Pinkerton detectives tracked his movements to counter his betting strategies.

The 1916 Kentucky Derby winner, George Smith, was named in his honor.

His mausoleum statue depicts him holding a racing form, gazing toward Pittsburgh.

Legacy

His 1908 book, Racing Maxims and Methods of Pittsburgh Phil, remains a handicapping bible.

Pioneered data-driven betting before modern analytics existed.

Inspired professional gamblers with his disciplined, value-based approach.