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60 Minutes Story On The Biggest Sports Bettor In Vegas


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#1 FCP Bob

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Posted 17 January 2011 - 06:15 AM

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.
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#2 KingJames

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Posted 17 January 2011 - 08:12 AM

Very interesting, BobThanks for posting
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#3 serge

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Posted 17 January 2011 - 08:22 AM

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...
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#4 custom36

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Posted 17 January 2011 - 08:30 AM

View Postserge, on Monday, January 17th, 2011, 10:22 AM, said:

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.

#5 CorvairShaggy

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Posted 17 January 2011 - 10:46 AM

View Postcustom36, on Monday, January 17th, 2011, 10:30 AM, said:

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 :club:
- - - - "It annoys me when players who play the tour for three years and don't do anything chalk it up to "variance." Yeah, has nothing to do with the fact that you suck... you are just unlucky." - - - - - Daniel Negreanu 1-21-2011 Blog

#6 serge

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Posted 17 January 2011 - 10:48 AM

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.
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#7 Skeleton Jelly

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Posted 17 January 2011 - 11:08 AM

View PostCorvairShaggy, on Monday, January 17th, 2011, 10:46 AM, said:

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 :club:
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#8 CorvairShaggy

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Posted 17 January 2011 - 11:13 AM

View Postserge, on Monday, January 17th, 2011, 12:48 PM, said:

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.
- - - - "It annoys me when players who play the tour for three years and don't do anything chalk it up to "variance." Yeah, has nothing to do with the fact that you suck... you are just unlucky." - - - - - Daniel Negreanu 1-21-2011 Blog

#9 CorvairShaggy

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Posted 17 January 2011 - 11:14 AM

View PostSkeleton Jelly, on Monday, January 17th, 2011, 1:08 PM, said:

Posted Image
Thanks Captain Grammer!! :club:
- - - - "It annoys me when players who play the tour for three years and don't do anything chalk it up to "variance." Yeah, has nothing to do with the fact that you suck... you are just unlucky." - - - - - Daniel Negreanu 1-21-2011 Blog

#10 HighwayStar

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Posted 17 January 2011 - 11:24 AM

View PostCorvairShaggy, on Monday, January 17th, 2011, 7:14 PM, said:

Thanks Captain Grammer!! :club:
I hope you are taking the piss
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#11 FCP Bob

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Posted 17 January 2011 - 05:58 PM

http://pregame.com/f...uter-group.aspx
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#12 GWCGWC

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Posted 17 January 2011 - 06:55 PM

Isn't there a law against using his phone to tell his runners to place the bets?fascinating piece for sure.

#13 grocery_mony

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Posted 17 January 2011 - 07:25 PM

View PostGWCGWC, on Monday, January 17th, 2011, 6:55 PM, said:

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.

#14 ol'number7

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Posted 18 January 2011 - 04:50 PM

View PostGWCGWC, on Monday, January 17th, 2011, 7:55 PM, said:

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.
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#15 starfit

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Posted 18 January 2011 - 08:55 PM

I saw this on 60 minutes and never thought to post the link for everyone. Fail on my part.
I was suited...

#16 Darth Maple

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Posted 23 January 2011 - 08:52 AM

Wow! Sick life.

#17 jd3

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Posted 26 January 2011 - 12:54 PM

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

#18 FCP Bob

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Posted 01 December 2011 - 04:58 PM

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
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#19 FCP Bob

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Posted 30 May 2014 - 05:08 PM

View PostFCP Bob, on 17 January 2011 - 06:15 AM, said:

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
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#20 Vegas Knights

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Posted 31 May 2014 - 09:35 AM

Maybe they should call Martha Stewart for advice.

View PostFCP Bob, on 30 May 2014 - 05:08 PM, said:

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.




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