FCP Bob 1,311 Posted January 17, 2011 Share Posted January 17, 2011 http://www.cbsnews.c...entBody;housing Good story on Billy Walters the biggest sports player in Vegas. He talks about gamblers having more ethics than Wall Street. Link to post Share on other sites
KingJames 11 Posted January 17, 2011 Share Posted January 17, 2011 Very interesting, BobThanks for posting Link to post Share on other sites
serge 904 Posted January 17, 2011 Share Posted January 17, 2011 good report...He says he plays poker, interesting to see if he plays any of the high limit games..i would assume he does.One thing I never understood about these guys, is that they are extremely smart..They spend hours and hours analyzing lines and numbers and looking to pounce on the slightest edge....He has made a ton of money betting sports.Then they go and gamble millions on craps and blackjack... Link to post Share on other sites
custom36 4 Posted January 17, 2011 Share Posted January 17, 2011 Then they go and gamble millions on craps and blackjack...Winning all the time because it's easy gets boring. When there's an element you can't control, there's a little more excitement. I'd imagine that's why they do it.Good report. Kinda wish they'd chosen a reporter that didn't spend all her time flirting with him though. Link to post Share on other sites
CorvairShaggy 5 Posted January 17, 2011 Share Posted January 17, 2011 Winning all the time because it's easy gets boring. When there's an element you can't control, there's a little more excitement. I'd imagine that's why they do it.Good report. Kinda wish they'd chosen a reporter that didn't spend all her time flirting with him though.You've never ran a sportsbook or a bookie operation before. If you think it is "easy money" think again. It takes a plethora of work to do what that guy does. Blowing $1 Mil on the golf coarse or craps/blackjack/slots is like you going to an amusement park, beach for vacation, going out on a Friday or Saturday night. You do it from time to time just to have fun and get away from the work week grind. They do too, they just make a hell of alot more on their jobs, and have more to blow for fun. I seriously doubt he blows $1 mill on a weekly or even monthly basis.BTW - Billy is my new hero. "Lefty" Rosenthal is still on that list too Link to post Share on other sites
serge 904 Posted January 17, 2011 Share Posted January 17, 2011 the man has a private jet, 7 homes and 4 golf courses among other businesses..I am assuming a $1 million is a drop in the bucket. Link to post Share on other sites
Skeleton Jelly 2 Posted January 17, 2011 Share Posted January 17, 2011 You've never ran a sportsbook or a bookie operation before. If you think it is "easy money" think again. It takes alot of work to do what that guy does. Blowing $1 Mil on the golf coarse or craps/blackjack/slots is like you going to an amusement park, beach for vacation, going out on a Friday or Saturday night. You do it from time to time just to have fun and get away from the work week grind. They do too, they just make a hell of alot more on their jobs, and have more to blow for fun. I seriously doubt he blows $1 mill on a weekly or even monthly basis.BTW - Billy is my new hero. "Lefty" Rosenthal is still on that list too Link to post Share on other sites
CorvairShaggy 5 Posted January 17, 2011 Share Posted January 17, 2011 the man has a private jet, 7 homes and 4 golf courses among other businesses..I am assuming a $1 million is a drop in the bucket.That's true, but I would not say "drop in the bucket". Like he said, he has had losing days, weeks and even months. As you well know, poker can have the same swings. If he is having a bad week, and he said he had $2 mill in action in one day (assuming he included the juice. Could be $2.2 Mill with juice). You go 5 days at $2 mill a a day and see if you feel like dropping another $1 mill on the dice table. Now, you make $10 mill in one week, I can see dropping 10% for fun. The one thing I have learned in the "hustle" life is fast money comes and goes fast.This guy has been doing this for 30 years, so I assume BR management is not a problem. Notice he also said he has never had a losing year. He never revealed how much in the black he was each year. He and his family probably live well off the money from the other businesses. He also said he gives to his favorite charity, which also helps his tax liability as well. Still, it is safe to say that unless he goes completely pyscho, he will not have to worry about money ever again, and has had a pretty cool life from the way the interview went. Link to post Share on other sites
CorvairShaggy 5 Posted January 17, 2011 Share Posted January 17, 2011 Thanks Captain Grammer!! Link to post Share on other sites
HighwayStar 8 Posted January 17, 2011 Share Posted January 17, 2011 Thanks Captain Grammer!! I hope you are taking the piss Link to post Share on other sites
FCP Bob 1,311 Posted January 18, 2011 Author Share Posted January 18, 2011 http://pregame.com/forums/blogs/johnny-det...uter-group.aspx Link to post Share on other sites
GWCGWC 83 Posted January 18, 2011 Share Posted January 18, 2011 Isn't there a law against using his phone to tell his runners to place the bets?fascinating piece for sure. Link to post Share on other sites
grocery_mony 8 Posted January 18, 2011 Share Posted January 18, 2011 Isn't there a law against using his phone to tell his runners to place the bets?fascinating piece for sure.I think they scrapped the no cell phone in sportsbooks law a year or two ago. Link to post Share on other sites
ol'number7 0 Posted January 19, 2011 Share Posted January 19, 2011 Isn't there a law against using his phone to tell his runners to place the bets?fascinating piece for sure.There was in 1998, I was arrested at gunpoint for it, good times. Link to post Share on other sites
starfit 0 Posted January 19, 2011 Share Posted January 19, 2011 I saw this on 60 minutes and never thought to post the link for everyone. Fail on my part. Link to post Share on other sites
Darth Maple 0 Posted January 23, 2011 Share Posted January 23, 2011 Wow! Sick life. Link to post Share on other sites
jd3 0 Posted January 26, 2011 Share Posted January 26, 2011 doyle says he is pretty good friends with this guy, and that he left a lot of information out...not sure on all of the validity but interesting nonetheless Link to post Share on other sites
FCP Bob 1,311 Posted December 2, 2011 Author Share Posted December 2, 2011 Balsbaugh Brian Balsbaugh Everyone in Vegas gambling circles knew Billy Walters decision to do that @60Minutes piece was a big mistake- http://tinyurl.com/7uxuwdx Legendary Las Vegas Sports Bettor Billy Walters Under Attack From Feds Link to post Share on other sites
FCP Bob 1,311 Posted May 31, 2014 Author Share Posted May 31, 2014 http://www.cbsnews.c...entBody;housing Good story on Billy Walters the biggest sports player in Vegas. He talks about gamblers having more ethics than Wall Street. And now it seems the FBI is investigating Billy Walters, Phil Mickelson and Carl Ichan for insider trading. Insider Trading Inquiry Includes Mickelson and Icahn Link to post Share on other sites
Vegas Knights 53 Posted May 31, 2014 Share Posted May 31, 2014 Maybe they should call Martha Stewart for advice. And now it seems the FBI is investigating Billy Walters, Phil Mickelson and Carl Ichan for insider trading. Insider Trading Inquiry Includes Mickelson and Icahn Maybe they should call Martha Stewart for advice, she did 5 months in federal prison for inside trading. Link to post Share on other sites
Iphonenkinder 558 Posted May 31, 2014 Share Posted May 31, 2014 This would be a great movie... 1 Link to post Share on other sites
brvheart 1,747 Posted May 31, 2014 Share Posted May 31, 2014 This would be a great movie... The golfing community could really use some good press right now. No way the entire community wouldn't embrace a really well written golf script, that would be nothing but positive for the game. Step one: somehow have the script get 400th place in a writing contest and then sit back and watch the offers pour in. 2 Link to post Share on other sites
Vegas Knights 53 Posted June 1, 2014 Share Posted June 1, 2014 The golfing community could really use some good press right now. No way the entire community wouldn't embrace a really well written golf script, that would be nothing but positive for the game.No, that wouldn't be a realistic movie about golf. You would need to do something like "Vegas Knights" -- http://www.fullconta...howtopic=146863 -- and show both the positive and negative. That would make it more realistic. Step one: somehow have the script get 400th place in a writing contest and then sit back and watch the offers pour in. Actually, if I was a movie producer who was a big golfing enthusiast, I would love to see a golfing script that finished somewhere between 180th and 400th in a contest with 3,800 entries. And if it also did well in a couple of other contests I would really want to see it. Link to post Share on other sites
FCP Bob 1,311 Posted February 6, 2015 Author Share Posted February 6, 2015 Very interesting article from ESPN The Magzine http://espn.go.com/espn/feature/story/_/id/12280555/how-billy-walters-became-sports-most-successful-controversial-bettor A Life On The Line For four decades, other gamblers have tried to be Billy Walters while investigators have tried to bring him down. And for four decades, the world's most successful sports bettor has outrun them all. http://espn.go.com/espn/feature/story/_/id/12280555/how-billy-walters-became-sports-most-successful-controversial-bettor 1 Link to post Share on other sites
BigDMcGee 3,352 Posted February 6, 2015 Share Posted February 6, 2015 Very interesting article from ESPN The Magzine A Life On The Line For four decades, other gamblers have tried to be Billy Walters while investigators have tried to bring him down. And for four decades, the world's most successful sports bettor has outrun them all. That link just leads back to this thread Link to post Share on other sites
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