Billy Walters Sports Betting Bio

Las Vegas Bans Billy Walters From Sin City

It certainly didn’t take 39 years for Billy Walters’ winning ways to get the attention of the casinos and sports betting locations he was beating into the dirt with such alarming regularity. Almost immediately, Walters was disallowed entrance to and action in those casinos, meaning that his days of using land based sportsbooks by name came to an end. Billy Walters was a household name on the Las Vegas Strip, and that name was toxic.

In order to continue making his living, Walters started placing bets through his employees and associates. These bettors would remain on site at various casinos and wait to receive phone calls from Walters, informing them where and when and how much to wager. His private company, ACME Group Trading, would pay these “gofers” a hefty $1200 a week to sit around at casinos boozing by the pool until their phones rang, at which point they’d answer, get their instructions, and place Walters’ bets. Good work if you can get it.

Walters rarely met any of these people, but he always got his money.

Billy Walters’ Biggest Wins

As arguably one of the most successful famous sports bettors of all time, Billy Walters has an extensive (but mostly hidden) portfolio of big wins. It’s widely known that he once made $400,000 on a single hole of golf and over $1 million on a single round. He banked $3.5 million on Super Bowl XLIV. (I mean, really now, who in their right mind would pick the New Orleans Saints over a prime Peyton’s Indianapolis Colts?)

But that’s nothing. Not really. Walters’ biggest bets are the ones he takes every day. Through ACME Group Trading, Walters would bet up to $2 million per week on the NFL. This high-rolling arrangement allowed Walters to regularly rake in a yearly income of $15 million on sports betting alone.

Billy Walters’ Biggest Losses

As good as he was, Billy Walters didn’t always win at legal sports betting. That million bucks he won on a round of golf? He lost it all before bedtime at the blackjack table. No big winner ever sustains any long-term success without also being a big loser here and there. The true genius of Waters, though, was that he often lost significant sums of money on purpose.

Why? See, most of Walters’ wheelhouse was NFL betting, and professional football games typically have fairly tight spreads. One of Walters’ ploys was to move large sums on underdogs ahead of time, forcing the bookmaker to close the odds. Then, Walters would simply bet even more money on the favorite to cover. You can’t use that technique without having a whole lot of cash to risk, but it’s a valid and effective gambit. (Indeed, Walters quickly discovered that this idea works especially well with lesser-known, second- and third-tier college football teams, where spreads are usually much larger and quite a bit easier to manipulate with a comparative modicum of money.)

​Billy Walters’ Final Bet?

On July 27, 2017, Billy Walters was sentenced to five years in federal prison and fined up to $10 million for his alleged role in an insider trading case. Walters reportedly benefited from non-public information on Dean Foods Co. stock from 2008 to 2014, netting some $32 million in profit while avoiding a further combined loss of around $11 million. For that $43 million, the federal government finally nailed a guy they’d been chasing for almost four decades.

Walters maintains his innocence in the case, claiming confidence in his legal defense. “If I would have made a bet it, I would have lost,” said Walters on the eventual outcome of his trial, before finishing with the revelation that “I just did lose the biggest bet of my life.”

But this is Billy Walters we’re talking about here, and Billy Walters never lingers on a loss. Billy Walters always moves on to the next big bet. Incredibly, Billy received a pardon from President Donald Trump in 2020, and was freed from his sentence, which would otherwise have lasted until 2022.

You can watch the 60 Minutes interview with Billy Walters here.

Billy Walters Released From Prison

Sentenced to five years, after serving only three years, Walters was released from prison in April of 2020 after a pardon from President Donald Trump. Betting on sports was a huge passion for Walters and even with having to pay for all of his legal fees and other activity, he should be fine when it comes to financial security. Even with him betting on sports so much in the past, it is up in the air if he will continue to bet on sports but don’t count that out. Big games and matchups are always happening so it wouldn’t be surprising if Walters placed big-time bets again soon.

Billy Walter Released From House Arrest

A stipulation for Billy Walters’s release from prison was for him to be confined to his house for the remainder of the original sentence. He was taken off of house arrest on January 10, 2022. Prior to that, Walters was technically still imprisoned and remained off of the grid during that time. There is no word as to whether or not Walters will return to the betting world in any capacity as he has remained out of the limelight since his release.

The Billy Walters Handicapping Service

Billy Walters is returning to the sports betting scene with his own sports handicapping service, “The Billy Walters Handicapping Service.” He is expected to use his extensive knowledge in the space to advise bettors on who they should be betting on as well as what lines to avoid. There is no word on when the app will go live or when you’ll be able to sign up for it, but once information is available, you’ll be able to find it here.

What Does Billy Walters Do Now?

According to Billy Walters’ website, he is now retired from gambling and focused on his job as CEO of The Walters Group. The Walters Group is an investment company with holdings in a variety of fields. With Walters’ analytical expertise that was crafted over decades of sports gambling, it is no surprise to see him doing well in other areas of business. Some of the holdings of The Walters Group include real estate, luxury golf courses, and car dealerships.