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Billy Walters: Legendary Gambler
He was a dirt poor kid from Kentucky….broke 15 times….and then, as he says, started to focus. a 30 year winning streak followed, making him perhaps the greatest, and richest professional gambler of all time!
Its the story of a degenerate gambler turned good…myth and legend…Billy Walters, despite making close to half a million dollars a year as a successful used car dealer, was often penniless…broke…the profits gone on a faded dream of beating the point spread. At 35, he was a pathological gambler, and loser…he owed money to the bookies, couldn’t get credit, and was into his third marriage with an ill son How’d he turn it around? Focus and dedication! He moved to Vegas in ’82, and forget the fact he went broke 15 times, his 30-year winning streak was underway. Yes, things all changed when he joined the now-famous Computer Group, a sports betting machine that understood how to use computers to analyze statistical data to predict game outcomes. This group was good. Starting with yearly winnings of $100-grand, the group eventually was pulling in more than $1million a week. So dominate, so big, the group could move the betting line! What an edge. Its 17 members were arraigned on 120 counts of conspiracy gambling and racketeering…all charges were eventually dismissed…but the group dissolved. If big bets make you a legend….Walters is. He wagers more than a million dollars on a typical work day, winning those bets makes you the best. Billy Walters can certainly claim to be the best….he owns a lifelong 57% winning percentage betting sports….he won $3.5 million on the Saints to win the 2010 super bowl….new orleans were 3 point underdogs…walters and his team of experts had them as favourites…and pounced. He found an edge and took, something he’s down time and again….in 1986, he found a flaw in a roulette wheel at the golden nugget and took full advantage, exploiting it to the tune of $3.8 million. The once dirt poor kid, degenerate gambler, is ow worth hundreds of millions of dollars. He owns 7 homes around the world, one worth a whopping $29 million, 8 car dealerships, 9 golf courses, shopping centers, commercial properties, a $20 million private jet….he manages a team of sports consultants and programmers…who help him make, in a good year, $15 million. Worth noting, that’s only 20 % on his revenues. Professional gambler, legend and High Roller – Billy Walters!
Billy Walters made his first wager at the age of nine, staking his paper route money on the Yankees in the 1955 World Series. The Dodgers won in seven games, but the boy was hooked.
”I’m all-in, I mean my chips are on the table and I’m going for it.”
- Eddie Wineland
(…after being knocked out by the interim champ at UFC 165 in Toronto. Poker reference in MMA.)
Did you know?
Nominees for induction into Poker’s Hall of Fame are subject to review by a 37 member panel; the 19 living members of the Hall of Fame and 18 distinguished members of the poker media. You must be at least 40 years ago to be inducted.
In 2009, Tom Dwan lost $2 million to, the then up-and-coming, ‘Isildur1’, the electrifying Swedish pro Viktor Blom, in just one session.
1996 world champ Huckleberry Seed was featured in the documentary Quantum Hoops, about the Cal-Tech basketball team and its pursuit of its first ever victory.
Sir Samuel Steele was the Royal Mounted Police Officer who arrested Louis Riel, without using a gun, once sentenced a Gambler to a $50 fine. The slick young gambler bragged, “I got that in my vest pocket.” Sam Steele replied, “And 60 days on the Mountie woodpile, do you have that in your vest pocket?” The gambler was forced in to 2 months hard manual labor chopping wood.
Good luck & Good gambling!