"There are some groups out there that bet an awful lot of money, but they don't do it at anywhere near the sophistication," says David Malinsky, a longtime handicapper who says he previously worked for Walters evaluating teams and analyzing games. When Walters was 13, his grandmother passed away. Mastronardo, who has also dabbled as a bookie and worked in the Caribbean as an offshore sportsbook operator, says he and 20 or so underlings moved bets for Walters from Philadelphia before he moved to Las Vegas to work out of Walters' headquarters in exchange for a 25 percent cut of the winnings. "I do know John Mastronardo. Mickelson has since been cleared on one of two inquiries, but the investigation remains open -- though no charges have been filed and authorities refuse to discuss the case. 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[2], In 1987, Walters stopped all gambling other than sports betting and returned to his roots in business. Mastronardo, an All-American wide receiver at Villanova and 10th-round pick of the Philadelphia Eagles in 1977, says he first met Walters in the 1980s while playing in a golf tournament for high-rolling gamblers hosted by Jack Binion, who owned a large casino in Vegas. Casual betting on professional and college athletics has exploded. His business life outside of sports gambling -- playing the stock market and managing his car dealerships and commercial real estate ventures -- also has been neutered. [4], Walters grew up poor in the rural town of Munfordville, Kentucky. The New York Times last week reported that Walters hired and paid "tens of thousands of dollars" to Trump's former personal lawyer John Dowd. He will just absorb the information and then make the final decision. ", Asked about Malinsky's descriptions, Walters says, "He has no clue how my operation runs. Walters is a prominent sports bettor and already owns dealerships in California and others states. In 1965, Walters went to work as a salesman at McMackin Auto Sales, a used-car lot in Louisville. "The average guy on the street might be disillusioned if he knew the actual winning percentage," Malinsky says of Walters' consistent but seemingly modest success against the line. Walters was a losing gambler as late as 1982. Generally reticent of the media, Walters agreed to an interview in 2011 with the television news program,60 Minutes, in the hope it would help the overall image of Las Vegas and to educate the public on legalized sports betting. If I was gonna be an informant, I would assure you I would have negotiated a deal that I never would have been indicted for betting on sports. Walters was sentenced to 5 years in prison and fined $10 million. Many politicians, investigators and prosecutors asked that their name not be used in this story, lest Walters tie them up in a lawsuit they can't afford to fight. For all of his work and success, Billy Walters winning strike-rate is 'just' 57%, but that's enough of a margin to generate a big edge on the sportsbooks. As of 2016, his holding company owned interests in eight car dealerships with one under construction, one golf course on the Las Vegas Strip, a rental-car franchise, and a number of commercial properties. The technology was run by Kent, a mathematician who developed nuclear submarine technology. [16], Walters was initially imprisoned at Federal Prison Camp, Pensacola, but was released to home confinement in Carlsbad, California, on May 1, 2020, amid the coronavirus pandemic. There he worked two jobs, one in the morning at a bakery and the second at a gas station in the evenings. ", Some people suspect that Walters has helped himself stay out of trouble by giving investigators information. Favorites 0 History 0 Compare 0. ", One memorable night, Mastronardo says, he was at dinner with Walters and his wife when Walters began asking about a basketball game. He had lost $50,000 by the time he was 22. William Thurman Walters was born July 15, 1946, in the small town of Munfordville, Kentucky, where his grandmother raised him in a house with no running water or indoor plumbing. Walters became a leader in the church youth group, ultimately reaching the level of Ambassador Exemplary. The two later made up, and when the flamboyant defense attorney ran for re-election as mayor in 2003, Walters hosted a fundraiser at his golf course on the Vegas Strip, raising $400,000. Mindlin was the self-indulgent frontman, a surgeon-turned-gambler. He was raised by his grandmother in a home with no running water or indoor plumbing. Walters was inexperienced, but Mindlin was impressed with his moxie and recommended his hiring to Kent in 1983. Sprinter, van for the perfect move. He and his wife Susan have been staunch Opportunity Village advocates for decades and were honored at the organizations 11th annual black-tie gala Camelot in 2012. "Everybody in this country bets on sports," he continues. ISSN 2576-1064 (print) The Sisolak campaign said the businesses were associated with Susan Walters, the wife of Billy Walters. Now in his seventies, Billy Walters says he will continue to work hard and to support those in need. [19], Walters is a noted philanthropist and has donated to Opportunity Village, a Las Vegas nonprofit for people with intellectual disabilities. They all wanted to re-enter life and they all wanted to live a normal life like everyone else does. Armen Keteyian, a longtime CBS News correspondent and contributing correspondent for60 Minutesand60 Minutes Sports, is the recipient of eleven Emmy Awards. So Billy Walters waits. "What people don't understand is that the difference between winning 53 percent and 55 percent is like swimming the Atlantic Ocean. Dealership buy and sell listings Home Dealership Buy/Sell Tweet Share Share Email This Automotive News feature lists dealership acquisitions as reported by brokers, official announcements and. He rented a room in the basement from his mother, who charged him $10 per week. ESPN declines the offer. Nearly two decades later, he says, the connection paid off when Walters asked him to move games. After a few years, Walters quit drinking for good and morphed into a member of Las Vegas' influential elite, developing golf courses, subdivisions and industrial parks. "I'll be dead before they get that money back," he says. Tiger Woods in his prime. He became a philanthropist and founder of a charitable organization in Las Vegas that helped people with disabilities. From these humble beginnings, Billy Walters went on to become a legendary sports gambler, champion poker player, and chief executive of a business empire with investments in real estate, luxury golf courses, car dealerships, and a wide range of startups and other industries. But the ultimate orders came from the greatest and most controversial sports gambler ever: William T. "Billy" Walters. Probation Office that he receive a sentence of 366 days and a $10 million fine. Walters' statement said he has filed a lawsuit in federal court in New York against those officials. Simply tossing a coin will get you a 50% record betting against the spread. Just ahead of trial, he won a stroke of luck better than pocket aces. Before the insider-trading case, Walters had been indicted four times on charges related to gambling but was never convicted. The suspect was a well-known Hollywood star who wanted to bet $100,000 a game, though Mastronardo became convinced that the actor didn't know anything about football. He was part of possible trading investigations earlier this year into golfer Phil Mickelson and . Some he bets in different markets. The newspaper also said Dowd had boasted to clients that his close relationship with the president would secure them clemency, particularly if their cases had been handled in the Southern District of New York. ', "That to me is genius," Mastronardo continues. The reply from Walters was matter-of-fact: "Tell John good luck. Walters and his Computer Group associates are charged two weeks before the five-year statute of limitations is set to expire. From his personal experience and his passion to help those facing the same challenges he overcame, HOPE for Prisoners was launched in 2010 in Las Vegas. Now in exile, will he get a shot to build a third? If Walters is never prosecuted, the investigation would join a long list of occasions on which authorities have tried and failed to bring him down. Please select at least one newsletter to subscribe. So Rubalcada spent day after day in the dimly lit sportsbook, waiting to hear from a guy nicknamed Wolf, whose urgent messages would arrive shortly before kickoff or tip-off. And he had a whole series of bookmakers who were willing to take a bet and send bets out to other people, because they wanted to get that information first, so as soon as they took the bet from the Computer Group they could change their line before they got hit.". Even Walters' employees, like Rubalcada, have tried to figure him out so they can win alongside him. As The Walters Group was developing and operating luxury facilities, Walters never lost sight of his beginnings and looked for business opportunities that would benefit the community. 28, 04107 Leipzig, Germany Among them are 2 prominent names in the auto industry:Anthony Levandowski, pardoned: The former Google engineer was sentenced for stealing a trade secret on self-driving cars months before he briefly led Uber's rival unit. HOPE for Prisoners is a nonprofit in Las Vegas, NV that offers comprehensive reentry and reintegration services to men, women, and young adults exiting various types of incarceration. Scores of bettors and bookies have tried to crack his methods so they can emulate him. Walters Group has been selling dealerships, several sources said, and it's unclear whether the company still owns stores. The winner did not take possession; Walters agreed to pay off the debt over the next 18 months. The White House last week said Mickelson supported clemency for Walters, though Mickelson's lawyer then denied to ESPN that the golfer was involved. Unfortunately, David wasn't successful in what he did, and I discontinued the relationship.". That information is weighed and plugged into the computer alongside other statistical data -- from field conditions to intricate breakdowns of officiating crews. 48207-2997, Automotive News In his final hours in office, President Donald Trump last week pardoned 70 people convicted of federal crimes and commuted the sentences of 73 others. His grandmother died when Walters was 13, forcing him to move to Louisville, Kentucky, to be with his mother. That makes a large network a major advantage -- each runner stays under the limit, but the total amount bet on Walters' behalf often exceeds it many times over. I said '1.' Walters told told the audience, Hope for prisoners bridges the desire, the opportunity and the tools for you to achieve what you have sought out to achieve. Armed with algorithms and probability theories, the objective is to find the mispriced team, then hammer the line to where Walters wants it. His grandmother arranged both loans for Walters.[5]. If you are a gamble fan, you must know who is Billy Walters. ESPN described Walters as "the greatest and most controversial sports gambler ever." Wes Welker became one of the most dominant receivers of his era because of an unfailing belief in his abilities. Walters maintained his innocence, and he was acquitted in a trial filled with plot twists. 2019 Billy Walters - An American success story. Among everyone who knows him -- from employees to bookmakers to politicians and investigators -- he elicits admiration, fear, jealousy and consternation in nearly equal measures. 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