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Billy Walters, Legendary Sports Gambler, Arrested in Vegas

Discussion in 'General Vegas Talk' started by thefish2010, May 24, 2016.

  1. M_ILIS

    M_ILIS
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    Eek, we're at 1:30 on a Sunday. Hopefully it's not too terrible when I'm there.

    Nah.
     
  2. 4Eyes

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    Was Walters truly a winning sports bettor or was that a ruse to launder his profits from his insider trading?
     
  3. thefish2010

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    He made most of his money from being a successful sports bettor, and other advantage gambling schemes. He's even beat roulette. From
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    "There has been recent talk that he won more than $3 million in one day of roulette in Atlantic City. Apparently, Walters hired agents to take notes at the roulette tables, in attempt to locate "biases," or patterns, in the wheels. Sources at Caesars Palace say that after Walters beat them for more than $1 million in one sitting, the wheel was sent to NASA for an examination and dissection that revealed specific biases - but not for the numbers Walters had been playing. Nobody knows his secret, and he isn't saying, though he admits he has been barred from playing roulette in the major casinos."

    The guy finds edges where others don't. Unfortunately it appears that in this case, he obtained his edge in the stock market through illegal means.
     
  4. ken2v

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    And he was unceremoniously 86d and defrocked ex-post-facto from the AT&T Pebble Beach Pro-Am.
     
  5. Malibugolfer

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    "What doesn't kill you makes you strong."
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    Only the top end well established nationally known private country clubs are not in the red.
    Packer mentioned Stone Eagle in the SoCal desert is $20K. It was $125K initially. I know personally of several well regarded even prestigious clubs I play that have reduced dues significantly. Valencia, North Ranch, Woodland Hills and even Lakeside are feeling the financial pressures.
    Ken can better expound on the challenges any course has to attract and keep players. Opening a restaurant may be a better % play it seems.Which is saying something.
     
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  6. M_ILIS

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    Rather glowing article on Billy in today's RJ:
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  7. Malibugolfer

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    "What doesn't kill you makes you strong."
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    "under indictment" was my point with the fish re: Billy.
    No surprise the RJ loves their local player. As it should be.
    Thanks M
     
  8. thefish2010

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    Even if he's guilty, I like the guy. But I think they might finally nail him this time on this charge. The guy that gave the inside information to him has entered a guilty plea and is going to testify against Billy in exchange for a reduced sentence. With an alleged illegal gain of $40 million at issue, if he goes to trial and loses, he's looking at 10+ years. At age 69, that's one gamble I don't think he will take. He'll likely plead it out and get maybe a year or two, but I don't see him walking unscathed from this one - unless the rumors of mob ties are true and the guy testifying against him somehow doesn't show up for court.
     
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  9. thefish2010

    thefish2010
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    He pleaded not guilty in New York today, and they raised his bail to $25 million from $1 million. Prosecutors were arguing for a $50 million bail. They also made the pilots of his private jet sign onto $1 million of the bond, so that if they fly him to a non-extradition country, they'll owe the $1 million. Not that he wouldn't give that to them if he decided to run lol.

    Sounds like they are going to play hardball.

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  10. Tellafriend

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    I am who I am; who else could I be?
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    if you look up greed in the dictionary you would see his picture. fucking greedy bastard.
     

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