Billy Walters Net Worth, Gambling Career, Philanthropy

Billy Walters Net Worth

 

Popular Name: Billy Walters
Real Name: William T. Walters
Birth Date: July 16th, 1946
Birth Place: Munfordville, Kentucky
Age: 76 years old
Gender: Male
Nationality/Citizenship: American
Height: 5ft
Weight: 88 kg
Sexuality: Straight
Marital Status: Married
Spouse(s): Susan Walters
Children: Scott Walters
Profession: Entrepreneur, Philanthropist, Gambler Rtd.
Years active: 2006–present
Net Worth: $250 Million
Last Updated: 2022

 

Hello there! Are you searching for Billy Walters net worth?

Search no further!

William T. Walters, popularly known as Billy Walters is a 76-year-old American entrepreneur, philanthropist, and retired professional gambler widely regarded among the most successful sports bettors in Las Vegas America.

Since Billy Walters is one of the most searched key phrases on the internet today, we are going to provide you with exactly Billy Walters net worth.

In Addition, we are going to feed you with relevant pieces of information like his early/personal life, Entrepreneurial and gambling career, controversies, and philanthropic activities just to help you know him better.

Early And Personal Life

William T. Walters popularly known as Billy Walters is a 76-year-old American entrepreneur, philanthropist, and retired professional gambler born on July 15, 1946.

Billy Walters is majorly regarded as among the most successful sports bettors in Las Vegas, having a winning streak that spanned over 30 years.

In 1987, Billy Walters stopped all gambling other than sports betting and returned to his roots in business.

As of 2016, Billy Walters’ holding company owned interests in eight car dealerships with one still under construction, one golf course on the Las Vegas Strip, a rental-car franchise, and a number of commercial properties.

Billy Walters grew up poor in the rural town of Munfordville, Kentucky.

His father was an auto mechanic, who died when he was just 18 months old.

Billy Walters’ mother, was an alcohol addict who abandoned her son and two daughters shortly after their father’s demise.

Billy Walters was raised by his grandmother in a home with no running water or indoor plumbing or other comforting facilities.

Billy Walters gives credits his grandmother, who was a devoted Baptist, with instilling a strong work ethic.

Billy’s grandmother did two jobs, cleaning houses and washing dishes while raising seven children.

Just at the age of seven, Billy Walters got a loan of forty dollars ($40 ), for a power lawnmower to help him start a grass-cutting business.

At age nine, Billy Walters yet again secured a second loan for ninety dollars ($90) so he could start a paper route.

Billy Walters’ grandmother arranged both loans for him.

Unfortunately, Billy Walters’ grandmother died when he was 13.

His grandmother’s death forced him to move to Louisville, Kentucky, to live with his mother.

At  Louisville, Kentucky, Billy Walters  worked in two  places,

Billy Walters worked in a bakery in the morning and in the evenings he goes to work at a gas station.

Subsequently, Billy Walters rented his own room in the basement away from his mother.

It was gathered that Billy Walters’ mother charges him ten dollars ( $10 ) per week.

Billy Walters later got married to Susan Walters. and had a child before graduating from high school.

However, the marriage was short-lived.

One of Billy Walters’s children is Scott Walters.

Billy Walters’  was an avid golfer

Entrepreneurial Career

Talking about his entrepreneurial and gambling career is talking about Billy Walters net worth since he made 99% of his money through them.

In 1965, Billy Walters resumed work as a salesman at McMackin Auto Sales, a used-car lot in Louisville.

A McMackin Auto Sales, whenever  Billy Sold sold a car, he mailed a self-promotion letter to 10 people living on each side of that customer’s home.

Billy Walters would peruse the daily newspaper for car ads, inviting the ads’ sellers to do trades with him.

Billy Walters would always go through the phone book and cold-call people.

Billy Walters sold an average of 32 cars a month and earned fifty-six thousand dollars( $56,000) each year in 1966, which equates to about $400,000 in the present day.

Billy Walters usually worked 80 hours a week selling cars and fixing dealership records.

In 1967, Billy Walters was employed as sales manager at Steven’s Brothers Auto Sales, a competing dealership.

Billy Walters also worked at Stevens Brothers till he started his own business, Taylor Boulevard Auto Sales, wholesaling cars to other dealers throughout the southeastern United States in 1972.

Billy Walters at that time also remained actively involved in sports betting.

In 1981, Billy Walters left the automobile industry and became a full-time sports bettor.

Gambling Career

Billy Walters ran his own betting service on the side.

In 1982, Billy Walters pleaded guilty to a misdemeanor charge of possession of gambling records in Kentucky.

The charge later was expunged from his record.

It was after that time he decided to move with his wife, Susan, to Las Vegas, where opportunity came knocking on his door and betting on sports was legalized.

Billy Walters won three million, and five hundred thousand dollars ( $3.5 million ) in Super Bowl XLIV after betting on the New Orleans Saints.

As a result of his reputation, Billy Walters often placed bets through “runners” so bookmakers would remain unaware of the person behind the bet.

In January 2007,  Billy Walters won two million two hundred thousand dollars ( $2.2 million) bet on the University of Southern California defeating the University of Michigan; USC won, 32–18. In 2011, and claimed he could make between $50 to $60 million in a good year.

Billy Walters began gambling when he was just 9 years old.

Billy Walters bet the money he got from his paper route on the New York Yankees to beat the Brooklyn Dodgers in the 1955 World Series.

Unfortunately, The Dodgers won and Billy Walters lost the bet.

However, his loss did not deter or discourage him from gambling.

Billy Walters had lost so much of his betting as late as 1982.

Billy Walters lost $50,000 at the age of 22.

Billy Walter on account of his serial gambling activities had lost his house during a game of pitching pennies.

However, he didn’t allow the winner to take possession this is as he agreed to pay off the debt over the next 18 months.

Billy Walters’s success turned around for the better in his mid to late 30s.

In June 1986,  Billy Walters demanded a freeze-out with Caesars Atlantic City for $2 million at the roulette tables.

Caesars, however, turned down his request.

Billy Walters then took his proposition to the Atlantic Club Casino Hotel, then known as the Golden Nugget, and was granted.

Billy Walters was widely known to have lost one million dollars ( $1 million) not less than twice at the Las Vegas blackjack tables.

In 1971, Billy Walters and his partner in gambling delivered two million dollars ( $2 million) to the cage at the Atlantic Club Casino Hotel. The pair noticed a wheel partiality and bet on the 7-10-20-27-36. After 38 hours of play, they won $3,800,000, beating the prior record of $1,280,000 held by Richard W. Jarecki at the San Remo Casino in Monte Carlo.

Three years later Billy Walters “Syndicate” had won $400,000 at a casino in Las Vegas and an additional $610,000 from Claridge Casino in Atlantic City.

Billy Walters also captured the 1986 Super Bowl of Poker, (also known as Amarillo Slim’s Super Bowl of Poker or SBOP) in Lake Tahoe earning hundred and seventy-five thousand dollars ($175,000).

In the 1980s, Billy Walters joined the Computer Group, which used computer analysis to analyze sports outcomes.

For more than a period of 39 years, Billy Walters had lost just once a year, with a 30-year winning streak.

Even after he has finished in the red for a few months, Billy Walters was always in the black by the end of the year.

Billy Walters bet on basketball, the NFL, and college football.

Billy Walters Controversies

In April 2017, Billy Walters was found guilty of using non-public information from Thomas C. Davis, who was a board member of Dean Foods.

Billy Walters was as a result of that sentenced to 5 years in prison and fined ten million dollars ($10 million).

Barrister  Daniel Goldman, then an assistant United States Attorney for the Southern District of New York, was part of the trial team.

However his source, company director Thomas C. Davis, using a prepaid cell phone and sometimes the code words “Dallas Cowboys” for Dean Foods, helped Walters, between 2008 and 2014, realize profits and avoid losses in the stock, the Federal jury discovered.

Billy Walters earned thirty-two million dollars ( $32 million) in profits and avoided $11 million in losses.

During the trial, an investor Carl C. Icahn was named in relation to Billy Walters’s trading but was not charged with wrongdoing.

Golfer Phil Mickelson “was also involved during the trial as someone who had traded in Dean Foods shares and once owed nearly two million dollars ($2 million) in gambling debts to” Walters.

Mickelson “made roughly $1 million trading Dean Foods shares; he agreed to forfeit those profits in a related civil case filed by the Securities and Exchange Commission”

On December 4, 2018, the U.S. 2nd Circuit Court of Appeals upheld the insider trading conviction and delivered a 5-year sentence for Walters, even though it chastised an FBI agent for leaking grand jury information about the case.

On October 7, 2019, the U.S. Supreme Court declined to hear Walters’s appeal.

Billy Walters was firstly imprisoned at Federal Prison Camp, Pensacola, but was released to home confinement in Carlsbad, California, on May 1, 2020, amid the coronavirus pandemic.

Billy Walters’s sentence was scheduled to be completed on January 10, 2022, and was commuted by Donald Trump on January 20, 2021.

Philanthropy

Billy Walters is a notable philanthropist and has donated to Opportunity Village, a Las Vegas nonprofit for people with intellectual disabilities.

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.

Billy Walters and his wife Susan have been staunch Opportunity Village advocates for decades and were honored at the organization’s 11th annual black-tie gala Camelot in 2012.

The couple was also honored as Las Vegas Philanthropists of the Year in 1997 by the Association of Fundraising Professionals Las Vegas Chapter.

Billy Walters and his wife Susan had donated $1 million to the effort to rebrand the Las Vegas airport.

Billy Walters Net Worth

This is time to talk about Billy Walters net worth

Talking about Billy Walter net worth, it is believed the American entrepreneur makes so much from his betting activities this is as he claims to have made over $400,000 on one hole and once as much as $1 million in one round.

Billy Walters had however admitted to losing the same amount of money at blackjack later that night.

In June 2014, Billy Walters had a private jet worth $20 million and owned seven homes, with a net worth estimated at over $100 million.

Without further delay, Billy Walters net worth is estimated at a whopping two hundred and fifty million dollars ($250 million), recent statistics have shown.

Conclusion

there is no doubt Billy Walters really thrived in his career as a  gambler and is as well thriving in entrepreneurship which he hasn’t left till now.

There is a popular saying that whatever is worth doing is worth doing well and that is just the case with Billy Walters who went into gambling and took it seriously.

Nevertheless, if he continues at the same pace and energy, there is definitely going to be an increase in Billy walters net worth.

LEAVE A REPLY

Please enter your comment!
Please enter your name here