For countless people, gambling is a casual hobby or occasional pastime. They may wager a few pounds on the Grand National every year, buy a lottery ticket each Saturday, or while away an hour on their favourite slots at the weekend.
But not everyone who gambles, even those who do it daily, are likely to win enough to become incredibly wealthy.
Still, certain people have made serious money through betting — such as Billy Walters. He is one of the richest gamblers in the world, with a net worth that would make some A-list movie stars jealous. But how much does he have to his name, and what type of gambling helped him achieve his wealth?
In this article, we will explore Billy Walters’ net worth and his betting background to answer both questions.
Who is Billy Walters?
William T. Walters was born in Munfordville, Kentucky, in July, 1946. His start in life was humble: he lost his father at just 18 months old, his mother left the family home soon after, and Walters’ grandmother raised him instead.
Walters took inspiration from his grandmother’s dedication to work and earning money. Before he turned 10 years old, he started cutting lawns and delivering newspapers to generate his own income. Walters continued to work different low-paying jobs for several years, but developed an appetite for gambling at a young age.
His passion for betting saw him lose substantial amounts of money in his twenties, but he began to experience better luck over time. By the close of the 1980s, Walters had started out on a path of successful betting that would last for decades.
What is Billy Walters' Net Worth?
Billy Walters is estimated to have a net worth of around $200,000 million (around 162.7 million).
What is Billy Walters Net Worth
How Did Billy Walters Achieve a High Net Worth?
Billy Walters built up his net worth in several ways:
Sports Betting
Walters is best known for earning tremendous wealth by betting on sports. He became part of the Computer Group in the 1980s: this led the way in using algorithms to analyse the results of sports events and help gamblers make informed predictions.
Much of Walters’ betting focused on college American football, basketball matches, and NFL games. According to an ESPN article, Walters has claimed to have experienced just “one losing season in 39 years”, and his long-time friend Jack Sheehan said that “nobody has ever approached sports betting with as much analysis” as Walters.
In 2023, Walters was added to the Circa Hotel and Casino’s Sports Betting Hall of Fame (alongside nine other bettors). Each inductee has a dedicated plaque.
Entrepreneurial Activities
Walters owns numerous car dealerships across the United States, operating in California, Georgia, and beyond. He also owns Walters Golf, with two golf courses in Las Vegas.
Stock Market Trading
Billy Walters also made money on the stock market, though this eventually led to legal troubles. In 2017, he was found guilty of insider trading, fined, and sentenced to a five-year term in prison.
However, President Donald Trump commuted Walters’ sentence in 2021. By that time, Walters had already served around four years and paid more than $40 million in fines.
Stock Market Trading
Conclusion
Billy Walters is a legendary gambler who has a net worth of around $200 million dollars, and accumulated huge sums of money through sports betting over more than 30 years. While he has also become known for his legal troubles, Walters remains one of the most high-profile and richest gamblers of all time.
Walters was betting on sports long before online sites transformed and streamlined the process. If you want to bet on sports events safely and responsibly, you have a huge range of sites to explore today.
To help you decide where to place wagers, Gambling Zone offers information on the best gambling sites in Ireland and advice on making the right choice for you. Whatever sports you want to bet on, remember to set a reasonable limit and stick to it to ensure you gamble in a responsible way.
