In 1951, he purchased the Eldorado Club and the Apache Hotel, opening them as Binion's Horseshoe casino, which immediately became popular because of the high limits on bets. He initially set a craps table limit of $500, ten times higher than the limit at his competitors of the time. As a result of outdoing the competition, Binion received death threats, although eventually casinos raised their limits to keep up with him. Additionally, the Horseshoe would allow a bet of any size from a player as long as the bet was no larger than the player's initial bet.