In the gambling world, there are few people as well-known or as well-respected as Billy Walters. Now in his late 70s, he’s been betting on sports since he was nine years old and managed to place a wager on the 1955 World Series. With the help of computer analysis, Walters has been a winning bettor for decades. As of 2024, his net worth is estimated at around $250 million.
Of course, now that sports betting is mobile in dozens of states and not just centralized in Las Vegas and a few other locales, Walters is receiving even more attention. Modern bettors are reading reviews of platforms like FanDuel Sportsbook, trying to find the right sportsbook to help them become the next Billy Walters. Let’s take a closer look at his life and career to learn more about how Walters became one of the most successful people in sports betting history.
Contents
Quick Facts
| Full Name |
William T. Walters
|
| Birth Date | July 15, 1946 |
| Age | 77 |
| Country of Origin | USA |
| Nationality |
American
|
| Profession | Gambler, Entrepreneur, Philanthropist |
| Marital Status | married |
| Parent’s Name | Unknown |
| Spouse |
Susan
|
| Social Media Accounts: | |
| Net Worth (as of 2024) | $250 million |
| Last Updated: | Aug 23, 2024 |
Family and Early Life
Walters comes from a humble and rather complicated upbringing. He grew up in Munfordville, Kentucky, a rural town with just over 1,000 people. His father passed away when Walters was just 18 months old. Soon after, his mother abandoned him and his two sisters, leaving his grandmother to raise them. His grandmother helped Walters get a pair of bank loans, allowing him to start his own grass-cutting business when he was seven and a paper route when he was nine.
At age 13, Walters’ grandmother passed away, forcing him to live with his mom in Louisville, renting a room in her basement for $10 per week. While in Louisville, Walters worked mornings in a bakery and nights in a gas station while simultaneously finishing high school. Walters also got married and had a child before graduating from high school, although the marriage didn’t last.
Personal Life
Billy Walters and his wife Susan have been married since 1977. The couple has three kids together. In his book Gambler, Walters said that he wouldn’t have accomplished all that he has if he wasn’t married to Susan.
Career
Soon after high school, Walters became a used-car salesman in Louisville. He worked roughly 80 hours per week and reportedly sold 32 cars per month. Within two years, Walters was hired as the sales manager at a competing car dealership. He ended up staying in the car industry for over 15 years until deciding in 1981 to move to Las Vegas and pursue a career as a full-time sports bettor.
After moving to Las Vegas, Walters joined the Computer Group, a firm that as early as the 1980s was using computers to analyze sports and project the outcomes. In 1988, Walters and his wife started a company called the Walters Group that invests in residential and commercial real estate, as well as golf properties. The company started out as just Billy and his wife Susan but eventually grew to roughly 2,000 employees.
Billy Walters Insider Trading
Billy Walters, a renowned sports bettor, faced a significant setback when he was convicted of insider trading. Authorities alleged that Walters made millions of dollars through illegal stock trading based on confidential information. A key figure in the case was Thomas C. Davis, a former Dean Foods executive who provided Walters with inside information about the company’s financial performance.
Walters’ conviction resulted in a substantial prison sentence and significant financial penalties. The case highlighted the risks involved in insider trading and served as a warning to others who might consider such illegal activities. There have been a lot of controversies surrounding this.
Earning and Net Worth
Walters claims that in his most successful years, he made upwards of $50 or $60 million in profit betting on sports. As a result, his net worth in 2024 is estimated at around $250 million.
FAQs
1. How did Billy Walters make his money?
During the peak of his career, Billy Walters was known for being a degenerate gambler in the sports betting scene and that is what helped kickstart his career and bring him the fame and money he has today.
2. What happened to Billy Walters?
With the growing popularity, Billy was suddenly pulled to the ground when he was convicted of insider trading. He also received 5 years jail time.
3. What did Billy Walters say about Phil Mickelson?
There are reports where Billy mentioned that if Phil had given a testimony for him, it would have exonerated him and prevented him from jail time.
