Billy Walters has the kind of life that only an expert script writer can come up with. The self-made entrepreneur began as a successful sports bettor and has become one of the best to ever do it. With a net worth of more than $200 million, it is clear that everything he touches turns to gold.
Long before online casinos became the best and most convenient way of gambling, there was no other way to partake than to go into a casino or local sportsbook to get in on the action. The feeling of cash in hand, the cards at your fingertips, it was a unique setting.
One such gambler came up through the scene and established a name like few others. When all is said and done, he will go down as one of the greatest sports bettors and most successful entrepreneurs of all-time. Billy Walters has carved out a reputation in the gambling world that few, if any, will be able to come close to.
Getting Started
Growing up in Munfordville, KY, Walters had a humble beginning. He lost his father, an auto mechanic, when he was just 18 months old. His mother, an alcoholic, left shortly after his father died, leaving him to be raised by his grandmother. She had a home with no indoor plumbing or running water.
Walters did, however, inherit a strong work ethic from her. At just the age of seven, Walters got a $40 bank loan to get a power lawnmower so he could start up a grass-cutting business. Walters put that work ethic to good use, slowly building up his bankroll in the process.
A Prolific Gambler
Walters began gambling at the age of nine. He took money from his paper route and bet on the New York Yankees to win the 1955 World Series. The Brooklyn Dodgers won and Walters lost, though it didn’t keep him from placing bets in the future. As a matter of fact, he had lost $50,000 before his 23rd birthday and was a losing gambler by as late as 1982.
By the mid-1980s, Walters had to request a freeze-out with Caesars Atlantic City for a whopping $2 million at the casino’s roulette tables. With a partner in tow, Walters exploited a trend and within 38 hours had won $3.8 million. It would be just the start of his gambling success.
Successful Sports Bettor
By the 1980s, Walters had begun using computer analysis with an eye toward analyzing sports outcomes. Walters has had unprecedented success, establishing a winning streak of over 30 years. Walters, betting on basketball, college football, and the NFL, would make millions.
One of his biggest wins came in 2006. Walters won a whopping $3.5 million by taking the New Orleans Saints to win Super Bowl XLIV. Despite admitting that he wins about 57% of the time, he made his wins count. In January 2007, Walters took USC to defeat Michigan in the Rose Bowl and wound up winning $2.2 million in the process.
Net Worth and Hall of Fame
As of 2023, Walters had not slowed. His net worth has reportedly ballooned to more than $200 million, thanks partially to his sports betting but also due to other successful business endeavours. For being one of the most successful sports bettors ever, Walters was inducted into the Sports Betting Hall of Fame at the Circa Hotel and Casino in Las Vegas.
Though he suffered through his share of struggles and losses, Walters is best known for making the most of his circumstances. He has also turned his success into a notable philanthropic career, giving back as a thanks for all he’s done.
