An occasional gambler since he was nine years old, by the time he was 22, he had . ON A MID-SEPTEMBER night, Ezekiel Rubalcada swaggers through the doors of Las Vegas' M Resort Spa Casino. They all wanted to re-enter life and they all wanted to live a normal life like everyone else does. "Everybody in this country bets on sports," he continues. He once told "60 Minutes" that on any Sunday, he could have $2 million on the line betting on professional football games. Federal prosecutors for the Southern District of New York accused him of using insider tips from former Dean Foods Chairman Tom Davis to net more than $43 million. The dealership will be run by Walters Dealership LP, which is partly owned by Las Vegas-based professional gambler William T. "Billy" Walters, who was sentenced in 2017 to five years in prison for . And if youre not totally committed to this, dont take up the space for someone else who is committed to it.. The greater the delta, the more money a gambler like Walters will bet. He is the coach calling the plays. In October 2020, Walters filed a lawsuit against five former DOJ and FBI officials accusing them of covering up and lying to the federal court about illegal leaks of false information to the media. Walters's personal story is nothing less than a modern-day Horatio Alger tale come true. Three years later his "Syndicate" had won $400,000 at a casino in Las Vegas and an additional $610,000 from Claridge Casino in Atlantic City. Today, sources say, the headquarters of Walters' international operation is located outside the United States. The money-laundering indictments against Walters and his three co-defendants are dismissed by a local judge. Jane Shoemaker, an inexperienced prosecutor new to the Vegas office, was handed the case. In 2011, Walters claimed he could make between $50 to $60 million on a good year. He became extraordinarily wealthy while overcoming addictions and outmaneuvering organized crime figures made infamous by Martin Scorsese's filmCasino. From that experience Walters was determined to make a commitment to make sure that people in prison got that second chance. "Very little happens here," one source familiar with Walters' operation says of the group's Vegas-based gambling. "The average guy on the street might be disillusioned if he knew the actual winning percentage," Malinsky says of Walters' consistent but seemingly modest success against the line. From these humble beginnings, Billy Walters went on to become a legendary sports gambler, champion poker player, and chief executive of a business empire with investments in real estate, luxury golf courses, car dealerships, and a wide range of startups and other industries. Walters placed his first sizeable bet at age 10 against a local grocer for $125 on a World Series game between the New York Yankees and the Brooklyn Dodgers. Address of Autoankauf Leipzig is Burgstrae 8-12, 04109 Leipzig, Germany. He says, 'That money was for me. He worked at Stevens Brothers until 1972, when he started his own business, Taylor Boulevard Auto Sales, wholesaling cars to other dealers throughout the southeastern United States. William T. Walters is a living legend in Las Vegas and among sports bettors worldwide. "What people don't understand is that the difference between winning 53 percent and 55 percent is like swimming the Atlantic Ocean. At the same time, Walters did not forget about other people. The last known location was in Panama, according to sources, after earlier offices were based in London, the Bahamas and Tijuana, Mexico. Meanwhile, an account that's too successful runs the risk of being shut down. Talking about his past work helps ease some of the pain and embarrassment he's caused his family after more than 15 arrests, he says, adding that he's sought counseling to overcome his shame. Walters Team has been providing dealerships, many resources mentioned, and it . Walters, pro golfer Phil Mickelson and investor Carl Icahn are reported to be under investigation for insider trading. Nearly two decades later, he says, the connection paid off when Walters asked him to move games. "Why don't we license this thing?" Walters maintained his innocence, and he was acquitted in a trial filled with plot twists. ISSN 2576-1072 (online), Vroom reports $25M net income, but fallen sales, revenues in Q4, CDK fit and focus' strategy continues with massive employee outsourcing plan, Former Okla. Kia dealer accused of tampering with case while awaiting fraud sentencing, Sponsored Content: Overcoming Objections With Interior Accessory Sales, Sponsored Content: The benefits of robust dealership reporting tools. His message was also a challenge to those who want to be a part of the program. He was raised by his grandmother in a home with no running water or indoor plumbing. Walters was known to have lost $1 million at least twice at the Las Vegas blackjack tables. His grandmother arranged both loans for Walters.[5]. Follow him on Twitter: @MikeFishESPN or email him here. He married and had a child before graduating high school. And he had a whole series of bookmakers who were willing to take a bet and send bets out to other people, because they wanted to get that information first, so as soon as they took the bet from the Computer Group they could change their line before they got hit.". He would play a game of nine-ball for a penny, and in the summers, he worked racking balls and preparing food. Billy was eventually caught and fined $1,000. But the next morning, after Walters got his cash, he issued Mastronardo a warning: "He says, 'Johnny, you know the rules, right?' The founder of Hope for Prisoners, Jon Ponder, spent time in prison and realized there was a lack of long-term support for many like him. by Seth Wickersham, Wes Welker became one of the most dominant receivers of his era because of an unfailing belief in his abilities. ", For his part, Walters says he hasn't spoken with Mastronardo in 15 years. In 1988, after retiring from the world of poker and non-sports gambling, Walters and his wife started their own company, growing from just the two of them to some 2,000 employees. Walters then took his proposition to the Atlantic Club Casino Hotel, then known as the Golden Nugget, which was accepted. He was not in custody but a judge had said he could enter custody once the COVID-19 pandemic subsided.Billy Walters, sentence commuted: The megadealer and professional gambler in 2017 began a 5-year sentence for devising a 6-year insider-trading scheme with then-Dean Foods Co. Chairman Tom Davis. 1155 Gratiot Avenue Have an opinion about this story? The marriage was short-lived. Walters is a successful entrepreneur whose ventures include golf courses, auto dealerships and car-rental agencies. "They can put the network together of picking the games and having the handicappers. Walters has served nearly four years of his . With his full name, William T. Walters was born 15th July 1946 , a businessman, . Walters says. "You might have a 7-point favorite with two no-name teams and the underdog would win by 15. Now in exile, will he get a shot to build a third? Separately, he became an acclaimed poker player, winning the No Limit Hold Em tournament at the 1986 Super Bowl of Poker. At age nine, he secured a second loan for $90 to start a paper route. . EVEN THE GREATEST gambler of all time doesn't always win -- but he doesn't have to. The New York Times last week reported that Walters hired and paid "tens of thousands of dollars" to Trump's former personal lawyer John Dowd. He had lost $50,000 by the time he was 22. At the time, Las Vegas golf courses had become so expensive that they were out of reach for many of the citys residents. Another call ends with a referral to his attorney. "If you were to take away the office pools, fantasy pools, people betting on sports, I guarantee the [TV] viewership would be cut in less than half. Trump also commuted the sentence of car dealer and professional gambler Billy Walters, who was sentenced to five years in prison for insider trading. 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It was then that he decided to move with his wife, Susan, to Las Vegas, where opportunity beckoned and betting on sports was legal. InGambler, Walters shares the inside story of his own prosecution and reveals explosive details about his six-year gambling relationship with Mickelson. But he also witnessed what he saw as a dark side -- Walters could be cunning and openly malicious, he says. He's been more open about his background: He was born to a poor teenage mother in southern Kentucky and raised primarily by his grandmother until she died when Billy was 12. Walters is one of the top philanthropists in Las Vegas and a major supporter of Opportunity Village, the most successful home for intellectually challenged people in the state of Nevada. Armed with algorithms and probability theories, the objective is to find the mispriced team, then hammer the line to where Walters wants it. U.S. Walters Group has been selling dealerships, several sources said, and it's unclear whether the company still owns stores. In the early 1980s, he left two failed marriages and a car salesman gig behind in Kentucky and, after a misdemeanor gambling conviction, headed west with a tiny bank account and a heavy drinking habit. All Rights Reserved. Walters gained $32 million in profits and avoided $11 million in losses. Walters worked 80 hours a week selling cars and setting dealership records. The jury voted not guilty on 64 counts and failed to reach a consensus on 54 others -- which the government dismissed rather than prosecute again. ESPN declines the offer. In 2017, Walters was convicted of insider trading in a case marred by government misconduct. Rubalcada says he made his way into Walters' world booking tee times at Royal Links Golf Club, a pricey course Walters owns a few miles off the Strip. Generally reticent of the media, Walters agreed to an interview in 2011 with the television news program,60 Minutes, in the hope it would help the overall image of Las Vegas and to educate the public on legalized sports betting. He became a philanthropist and founder of a charitable organization in Las Vegas that helped people with disabilities. The book will be simultaneously published in hardcover, ebook, and audio editions. "At times, he would give me $1 million to hold, $2 million to hold, with no signed contract," Mastronardo says. [4], Walters grew up poor in the rural town of Munfordville, Kentucky. For almost four decades, Walters, now 68, is thought to have bet more money more successfully than anyone in history, earning hundreds of millions of dollars. Among everyone who knows him -- from employees to bookmakers to politicians and investigators -- he elicits admiration, fear, jealousy and consternation in nearly equal measures. Some he bets in different markets. NEW YORK, Feb. 8, 2023 /PRNewswire/ -- Billy Walters, the gambling legend who has been described as "the Michael Jordan of sports betting," will publish his book Gambler: Secrets from a Life at Risk on August 15, 2023, it was announced today by Avid Reader Press, an imprint of Simon & Schuster. LAS VEGAS, Jan. 20, 2021 /PRNewswire/ -- William "Billy'' T. Walters, the retired professional sports bettor and businessman, expressed gratitude to President Donald Trump for granting him. Trim. [8] Due to his reputation, Walters often placed bets through "runners" so bookmakers would remain unaware of the person behind the bet. According to Jack Sheehan, a longtime Vegas pal, Walters fancies himself an across-the-board genius whose business acumen stretches far beyond betting. A 1996 raid on Walters' office found more than 40 telephones, from which authorities said more than 12,000 long-distance calls a month were placed to illegal bookmakers in the U.S., Canada, Central America and the Caribbean. . While many former associates fear speaking openly about Walters' business, Mastronardo says he has little to be afraid of. U.S. District Judge Lloyd D. George, a staunch conservative with a reputation for favoring prosecutors, invited him to meet with the lead FBI investigator on the case. More recently, an unsuccessful money-laundering case in 2002 found that Walters was consistently winning as much as 58 percent a week, sources told ESPN. An avid golfer himself, Walters developed a course that was accessible and affordable to all and also used the grounds to host clinics for beginners and junior golfers. You can readmore here. Trucks up to 12t and special vehicles (on request) Top brands: BMW, VW, Mercedes. Concentrix: How can customer data drive a better automotive CX? OOYYO. He got a paper route, waking up at 4:30 a.m. every day to deliver papers before school. Walters is a successful entrepreneur whose ventures include golf courses, auto dealerships and car-rental agencies. Billy Walters, megadealer and professional gambler, is a free man thanks to former President Donald Trump. He was also running his own bookmaking service - a crime in the state of Kentucky. Even many of those who have tried to bring him down admit a grudging respect. He quit booking and the charge was later expunged from his record. Walters established the Walters Group holding company in Henderson, Nev., in 1988. As arguably one of the most successful famous sports bettors of all time, Billy Walters has an extensive (but mostly hidden) portfolio of big wins. [3] In 2014, his net worth was estimated at more than $100 million. Walters and three other defendants are later indicted for money laundering. In the first eleven months of 2022, Americans wagered $83 billion legally on sportsan increase of 65 percent from 2021,according to the American Gaming Association. So he uses the market however he wants. Though he has finished in the red for a few months, he was always in the black by the end of the year. SALES REPORT: Sign up for our quarterly newsletter and get U.S.. In the wake of three concussions in 10 months, is that same self-confidence now putting his future at risk? Now, as federal officials decide whether to move forward with the insider-trading case, Thompson offers his own nickname for William T. Walters. His father, an auto mechanic, died when Walters was 18 months old. With an unmatched winning streak of thirty-six consecutive years betting on sports, Walters has placed hundreds of millions a year in gross wagers, including a $3.5-million bet on one Super Bowl alone. ", It was scrupulously set up, better set up legally than your average business.". Follow ESPN Reader on Twitter: @ESPN_Reader. He added to his troubles when he attempted to cover the theft by staging a carjacking, which was captured on hotel video surveillance. As The Walters Group was developing and operating luxury facilities, Walters never lost sight of his beginnings and looked for business opportunities that would benefit the community. Walters had similar arrangements with others who handicapped NFL, NBA and college basketball games. Walters sold an average of 32 cars a month and earned $56,000 a year in 1966, equal to about $400,000 today. Walters plans to donate all of his net proceeds from Gambler to three charities: Opportunity Village; Cedar Lake Foundation to benefit people with intellectual and development disabilities in the Greater Louisville area; and the Hope for Prisoners Billy Walters Center for Second Chances, which provides long-term support and services to formerly incarcerated prisoners. At age seven, Billy Walters launched his first business when his grandmother, who worked full-time cleaning homes and at a restaurant, helped him secure a $40 loan from the local bank so that he could purchase a lawnmower. Placing bets outside Nevada is a legal gray area and, as a result, a subject on which those close to Walters refuse to shed much light. In the past, Walters has had some bad experiences with Wall Street. Walters was convicted of insider trading in the Southern District of New York in 2017 and served thirty-one months in federal prison. He is sentenced to six months' probation and a $1,000 fine. Although Mickelson was also implicated in the probe, he was never chargeddespite agreeing to pay back more than $1 million in trading profits and interestand he refused to testify at Walters's trial. Walters was a losing gambler as late as 1982. LAST MAY NEWS of Walters' latest legal headache went public: The Wall Street Journal and New York Times reported that he, Mickelson and investor Icahn were being investigated for insider trading. In 1967, he was hired as sales manager at Steven's Brothers Auto Sales, a competing dealership. Sprinter, van for the perfect move. As Walters told an audience recently in Las Vegas about that experience, I was shocked and never expected to be there.. What I learned from those men is that not a one of them wanted to go back to prison. [12] In September 2020, in response to Opportunity Village canceling their two largest fundraising events because of the COVID-19 pandemic, the Walters family committed to a $1 million matching donation. The act of clemency was supported by former Majority Leader Harry Reid, former Governor Jim Gibbons, former Representative Shelley Berkley, former Clark County Sheriff William Young, former Police Commissioner Bernie Kerik, numerous professional golfers including Butch Harmon, David Feherty, and Peter Jacobsen, and former 60 minutes correspondent Lara Logan. He was sentenced in August to 18 months in prison after pleading guilty in March. Billy Walters is selling "El Milagro" after spending $7 million on renovations since buying the estate three years ago. In 1967, he was hired as sales manager at Steven's Brothers Auto Sales, a competing dealership. Walters landed jobs at the Davis Doughnut Bakery, where he worked from 4:30 a.m. to 7:30 a.m. before school, and a Joe Graves Shell gasoline station, where he worked after school from 3:00 p.m. to 11:00 p.m. Those experiences in his early life shaped the man that William Walters would become. His mother, who was an alcoholic, walked out on her family shortly after his fathers death, when Mr. Walters was an infant. An example of Billy Walters character: When his mother contracted emphysema in later years, Walters paid her bills and ensured she was comfortable at the end of her life, despite the abuse he endured from her as a child. Any additional wins represent pure profit -- and when hundreds of thousands of dollars are wagered on a single game, lots of it. Walters was indicted three times for money laundering in connection with the investigation, but the charges were dropped before trial. Walters continues to deny any wrongdoing and has appealed his case to the U.S. Supreme Court. This year, Walters says, he expects to break even. Walters says he removed his attorney; Goodman told Smith he quit the case. In 2016, Walters told Automotive News that he loved the car business because it offers a level playing field. You can unsubscribe at any time through links in these emails. Walters uses the same method on multiple games, often risking millions each weekend. But they felt like they had no hope. The winner did not take possession; Walters agreed to pay off the debt over the next 18 months. He was sentenced to 60 months in federal prison. The 1985 raid against the Computer Group revealed that the syndicate won an eye-popping 60.3 percent of its college football picks one season. 28, 04107 Leipzig, Germany As of 2016, the firm owned 18 new-auto dealerships throughout Kentucky, California and Ga two golfing classes in Las Vegas and other holdings. ", One memorable night, Mastronardo says, he was at dinner with Walters and his wife when Walters began asking about a basketball game. Rubalcada eventually pleaded guilty to two felony theft counts and last March was sentenced to three years' probation and ordered to make restitution of $364,634. Since the days of the Computer Group, analytically inclined professional gamblers have relied on technology as well as research to produce what is called a delta: the difference between the Vegas line and what the bettors conclude the point spread should be. Mike Fish is an investigative reporter for ESPN.com. In the fall, his legal woes escalated when he was jailed for violating the terms of his probation, which included random drug testing and prohibitions on alcohol use and gambling. "I've never been an informant," he says. Written in collaboration with award-winning journalist Armen Keteyian, Gambler is more than a traditional autobiography. He is also the New York Timesbestselling author or coauthor of eleven books, most recentlythe #1 bestseller Tiger Woods. 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