So, Billy Walters is finally headed off to jail. But one thing that amazes me is a completely different law that he never broke.
Bill Walters found a way to legally hire runners for many years--decades even--when it seems that few others were able to crack the code of the Nevada law. An article from ESPN once quoted Clark County's chief deputy district attorney, saying that Billy Walters' use of runners was completely complicit with Nevada law:
[O]ne of Walters' attorneys visited the county prosecutor's office -- without prodding -- armed with records detailing how the gambling operation was set up legitimately through a limited liability corporation. The move surprised and impressed authorities, as did the fact that a former Vegas detective was overseeing the group's security arm. "They had one of the biggest law firms in the city set up their entire corporation and their books," says Brian Rutledge, Clark County's chief deputy district attorney. "It was scrupulously set up to be in compliance with all the gaming regulations. They were better set up legally than your average business, let's put it that way."
Source: http://www.espn.com/espn/feature/story/_/id/12280555/how-billy-walters-became-sports-most-successful-controversial-bettor
My question is: how? And please do NOT point to SB 443 because Billy Walters found a way to legally hire runners BEFORE SB 443 was even passed. Also, SB 443 isn't particularly helpful when very few casinos are allowing entity betting anyway.
If anybody has any thoughts, I'm really, really curious. This has always been a mystery to me, and I'm really curious how he pulled this off. Thanks in advance!