In sports betting circles, the name “Billy Walters” is spoken with respect and a little envy. Many experts consider Walters to be the best sports bettor ever. Billy Walters’ net worth has been estimated at over $100 million. He came from an impoverished background and made his fortune primarily through his skills as a professional gambler. Read on to learn more about professional sports bettor Billy Walters.
The Early Life of Billy Walters
Walters was born poor in the small town of Munfordville, Kentucky. He struggled through a difficult childhood, and eventually became a used car salesman. He was very successful, and set many sales records at his dealership. Eventually, he started his own used car wholesaling business.
At around this time, Billy began working as an illegal bookie. Eventually, he was caught and convicted of a misdemeanor in the early 80s. At this time, he decided to move to Las Vegas, where sports betting is legal.
Starting a Professional Sports Betting Career
When Walters moved to Vegas early 80s, he did not initially focus on sports betting. In fact, he first had success in both roulette and poker. Sometime in the mid to late 80s, however, the joined the legendary Computer Group of sports bettors.
The Computer Group was one of the the first organized sports betting operations (“syndicates”) that used computer programs to process data and suggest picks. The group was very successful. Walters eventually got tired of sharing profits and decided to strike out on his own.
Striking Out on His Own
When Walters set up his own operation, he used the computer analysis methods he had learned from his time in the Computer Group. These methods helped him achieve an incredible 57% winning percentage with his sports bets. In dollars, this translated to $50 – $60 million per year. In 2014, Billy Walters’ net worth was estimated at $100 million.
Become the Next Billy Walters
If you want to become the next Billy Walters, you have to start building your knowledge through experience. This means comparing lines and placing bets through reputable sports books. The best online sports books these days are Bovada, Everygame, and BetOnline.