Billy Walters Net Worth 2024: Age, Career, Income, and Houses
American business magnate, philanthropist, and best-selling author Billy Walters (born William T. Walters) is well-known worldwide. His remarkable success as a sports betting, however, has brought him widespread fame and established him as a leading figure in the field. An indication of his monetary success and wise investment choices is his net worth, which is predicted to exceed $200 million.
Billy Walters’s Net Worth in 2024
Billy Walters is a $200 million-wealthy American developer, entrepreneur, and sports bettor. As far as sports betting goes, Billy Walters is up there with the best of them. After amassing hundreds of millions of dollars through wagers on numerous sports, Billy reinvests the proceeds in more conventional investments. Walters boasts of having won 37 years in a row betting on football and basketball, and he now owns golf courses, real estate, automobile dealerships, and numerous mansions.
In 1980, Billy joined a group in Las Vegas known as the Computer Group, whose betting strategy was based on statistical analysis. The group made millions of dollars annually. A federal judge in New York found him guilty of insider trading following a three-week trial in April 2017. Between 2008 and 2015, Billy was accused by the prosecution of illicitly making $40 million by utilizing insider knowledge. Due to the COVID-19 pandemic, he was freed from prison early, despite being condemned to five years. Donald Trump commuted Walters’ sentence in January 2021.
Who is Billy Walters?
An outstanding American entrepreneur, Billy Walters is most known for his brilliant forays into the sports betting industry. Walters’ incredible rise from humble beginnings to become a business behemoth began on July 15, 1946, in Munfordville, Kentucky.
His business acumen was most visibly on display in the novel ways he approached sports betting. Many were amazed by Walters’s remarkable accuracy in analyzing sports statistics, interpreting trends, and predicting outcomes. He became an industry trailblazer thanks to his talent for measured risk-taking in the sports betting sector. His boldness in questioning established standards and exploring new avenues of data and technology reshaped the sports betting industry.
Aside from his financial ability, Walters has accomplished a lot. He is deeply committed to making a positive impact on society through his charitable initiatives. He uses his success to support charity causes and make a difference in many areas.
The story of Billy Walters is an inspiration for aspiring entrepreneurs everywhere because it shows how far creativity, determination, and forethought can go. Aspiring entrepreneurs are still motivated by his legacy to push boundaries, think outside the box, and change industries with their vision and determination.
Career
During the mid-1960s, Walters worked as a salesperson at McMackin Auto Sales, a used vehicle lot in Louisville. After each sale, he would send a promotional letter to the customer’s neighbors. More than 30 cars were sold per month during his tenure at McMackin Auto Sales, and he earned $56,000 that year. After joining Steven’s Brothers Auto Sales the previous year, Billy held the position of sales manager until 1972, at which point he established his own wholesale company, Taylor Boulevard Auto Sales. After pledging guilty to a misdemeanor charge of possession of gambling records in 1982, he ceased booking, but in 1981 he made the decision to become a full-time bookmaker and sports betting. Susan and Walters eventually settled in Las Vegas.
When Billy was 22 years old, he had already lost $50,000 gambling. After relocating to Las Vegas, he went on to lose $1 million in two separate instances at the blackjack tables. The Golden Nugget took up his offer after the Caesars Atlantic City turned down his request for a $2 million freeze-out in 1986. In 1971, Richard W. Jarecki set a record at Monte Carlo’s San Remo Casino with a win of $1.28 million. Walters and his gambling partner surpassed that mark with a win of $3.8 million at the Golden Nugget. Taking home $175,000, Billy triumphed in the 1986 Super Bowl of Poker. Walters made $3.5 million betting on the New Orleans Saints in Super Bowl XLIV (2010) after joining the Computer Group in the ’80s, which used computer analysis to analyze sports outcomes. His win of $2.2 million came in January 2007 from USC’s triumph over Michigan.
Billy and his wife launched a business in 1988 after he withdrew from poker and other forms of non-sports gambling. They were the only employees at the Walters Group when it first opened, but now there are over two thousand. The business branched out from its roots in commercial and residential real estate investing to include the golfing sector. They launched Las Vegas’s Bali Hai Golf Club in the year 2000. “Accessible and affordable to all” was the motto Billy used to describe a golf course he built in a dilapidated section of town. First Tee is a nonprofit that “enables kids to build the strength of character that empowers them through a lifetime of new challenges… by seamlessly integrating the game of golf with a life skills curriculum.” He played a key role in creating the Northern Nevada branch of this organization.
Engaging in Insider Trading
In April 2017, Billy was found guilty of insider trading for using non-public information from Thomas C. Davis, a board member of Dean Foods. He was handed a five-year prison term and a fine of $10 million. More than $30 million in gains and over $10 million in losses were prevented by the inside knowledge that Davis had been passing to Billy from 2008 to 2014 via a prepaid cell phone. In October 2020, Walters brought a complaint claiming that “five senior federal law enforcement officials–including Preet Bharara, the former U.S. Attorney for the Southern District of New York–of covering up and lying to the federal court about illegal leaks of false information to the media.” This individual was sent from Federal Prison Camp, Pensacola, to home confinement in May 2020 due to the COVID-19 epidemic. He had his sentence commuted by President Trump in January 2021.
Real Estate
Early in 2016, Billy and Susan listed their Henderson, Nevada, 8,299-square-foot home for $4.9 million. This luxurious home in the Terracina gated community with six bedrooms and eight bathrooms. It was constructed in 2004. The couple put their Carlsbad, California, home—which is 10,000 square feet—on the market for $26.95 million in September 2020. The beachfront mansion, which has five bedrooms and nine bathrooms, was constructed in 2007 and occupies 1.5 acres. Following the previous year’s failure to sell at the $20 million asking price, Billy and Susan decided to put their adjacent 21,000-square-foot Rancho Santa Fe property up for auction in 2014. At the end of the auction, the house was sold for $13 million.
Philanthropy and Charitable Donations
In addition to his achievements in the business world, Walters is well-known for his charitable work and his desire to improve the lives of others. Opportunity Village, a nonprofit that helps people with intellectual disabilities, is very important to him.
Gifts from Walters and Susan, along with other generous donors, have allowed Opportunity Village to continue providing vital services and activities that enable people with intellectual impairments to have meaningful, self-sufficient lives. Their acts of kindness have been duly acknowledged and appreciated, and the impact they have had on so many lives has been profound.
Walters shows his kindness and dedication to helping others through his charitable contributions. He is a firm believer in helping people less fortunate and making a difference with his wealth.
Final Words
The way Billy lives his life and gives back to the community are reflections of his character and ideals. He values his loved ones above all else and knows how to use his wealth for the greater good. Others are motivated to give back and make a positive impact in their communities by Walters’ dedication to charity.