Billy Walters may be going to prison...

Collapse
X
 
  • Time
  • Show
Clear All
new posts
  • SteveRyan
    SBR MVP
    • 11-15-11
    • 1654

    #106
    Now that he's been busted, it's pretty obvious what he's been doing all these years.

    He had probably been a bookie for guys like Michelson and other high-profile, famous people who wanted to place a bet on some game. Instead of having to go to Vegas to make the bet, they just give Billy a call. He probably set the line and handled the whole thing. Over time, guys like Michelson ended up owing him a lot of money. So Billy gave Phil an insider trading tip with the idea that Phil will make enough money from the tip to pay him back.
    Comment
    • 19th Hole
      SBR Posting Legend
      • 03-22-09
      • 18845

      #107
      Originally posted by Harry N. Lloyd
      Very surprised at the venom many posters are spraying at Billy Walters. The guy was a friggin' legend. When 60 Minutes does an expose on a guy who made millions betting sports, that's pretty damn good. I haven't seen JJ Gold on 60 Minutes, or Lakerboy, or Seaweed. But JJ keeps talking about how he screwed everyone over. Stu Feiner screws everyone over. Billy is a legend.


      Originally posted by MickeyMan
      To be fair you don't know Billy's handle on sbr and he very well could be one of those you named.
      Comment
      • jjgold
        SBR Aristocracy
        • 07-20-05
        • 388189

        #108
        Originally posted by SteveRyan
        Now that he's been busted, it's pretty obvious what he's been doing all these years.

        He had probably been a bookie for guys like Michelson and other high-profile, famous people who wanted to place a bet on some game. Instead of having to go to Vegas to make the bet, they just give Billy a call. He probably set the line and handled the whole thing. Over time, guys like Michelson ended up owing him a lot of money. So Billy gave Phil an insider trading tip with the idea that Phil will make enough money from the tip to pay him back.
        He never made a lot of money straight betting

        It was a front for booking

        Walters was only relevant in sports betting when the sportsbooks did not have much technology

        His edge was gone YEARS AND YEARS AGO like everyone else

        ALL LINES NOW CHANGE IN VEGAS NOW WITHIN 30 second to one minute of a Pinny steam move
        Comment
        • Philmill
          SBR MVP
          • 09-30-11
          • 4275

          #109
          Originally posted by SteveRyan
          Now that he's been busted, it's pretty obvious what he's been doing all these years.

          He had probably been a bookie for guys like Michelson and other high-profile, famous people who wanted to place a bet on some game. Instead of having to go to Vegas to make the bet, they just give Billy a call. He probably set the line and handled the whole thing. Over time, guys like Michelson ended up owing him a lot of money. So Billy gave Phil an insider trading tip with the idea that Phil will make enough money from the tip to pay him back.
          yepper
          Comment
          • TheMoneyShot
            BARRELED IN @ SBR!
            • 02-14-07
            • 28672

            #110
            Originally posted by Harry N. Lloyd
            Very surprised at the venom many posters are spraying at Billy Walters. The guy was a friggin' legend. When 60 Minutes does an expose on a guy who made millions betting sports, that's pretty damn good. I haven't seen JJ Gold on 60 Minutes, or Lakerboy, or Seaweed. But JJ keeps talking about how he screwed everyone over. Stu Feiner screws everyone over. Billy is a legend.
            Quite possibly that was the first mistake? Allowing the interview for 60 Minutes. After it aired... probably opened up the gates to hell for Walters. If you are doing underground sh#$... keep it underground.
            Comment
            • jjgold
              SBR Aristocracy
              • 07-20-05
              • 388189

              #111
              He was crook since kid

              Manny of you guys are squares and to commercial and just believe a little bit
              Comment
              • Harry N. Lloyd
                SBR MVP
                • 03-26-08
                • 4810

                #112
                If we were squares why would we be hanging out here in the Players Talk forum of SBR? This is the home of Pros.
                Comment
                • Harry N. Lloyd
                  SBR MVP
                  • 03-26-08
                  • 4810

                  #113
                  BTW, is it a coincidence that Billy Walters was sent to prison and RichKas went awol at the same time?
                  Comment
                  • slayer14
                    SBR Posting Legend
                    • 08-12-13
                    • 22007

                    #114
                    He will have regrets about his life when he will be in prison, he is spending the best years of his life in a dirty prison when he could have been enjoying his retirement like normal people.
                    Last edited by slayer14; 04-09-17, 12:02 PM.
                    Comment
                    • akdb8r
                      SBR Rookie
                      • 04-19-15
                      • 2

                      #115
                      How did Billy Walters legally hire runners/beards/messenger bettors?

                      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!
                      Comment
                      • slayer14
                        SBR Posting Legend
                        • 08-12-13
                        • 22007

                        #116
                        Sir Allen Stanford another man that could not control his money addictions is serving a life sentence for money laundering

                        Allen Stanford: From king of the Caribbean to penniless in prison

                        Allen Stanford, one of the richest men in the world, will appear before a court in Houston, Texas, on Thursday to be sentenced to up to 230 years in jail

                        http://www.telegraph.co.uk/finance/financetopics/sir-allen-stanford/9321282/Allen-Stanford-From-king-of-the-Caribbean-to-penniless-in-prison.html
                        Comment
                        • INVEGA MAN
                          SBR Hall of Famer
                          • 01-30-08
                          • 6791

                          #117
                          Greed, greed wil do you in
                          Comment
                          • Mac4Lyfe
                            SBR Aristocracy
                            • 01-04-09
                            • 48359

                            #118
                            Originally posted by slayer14
                            Sir Allen Stanford another man that could not control his money addictions is serving a life sentence for money laundering

                            Allen Stanford: From king of the Caribbean to penniless in prison

                            Allen Stanford, one of the richest men in the world, will appear before a court in Houston, Texas, on Thursday to be sentenced to up to 230 years in jail

                            http://www.telegraph.co.uk/finance/f...in-prison.html
                            My next door neighbor was good friends with Stanford (I think they were fukking at 1 time). She swears by his innocence. I know a couple other people who also think the government went after him because of his foreign investments and that he paid them in their investments. You never know what to think and you just hope an innocent man didn't get set up to serve 100+ years in jail for nothing.
                            Comment
                            • jjgold
                              SBR Aristocracy
                              • 07-20-05
                              • 388189

                              #119
                              Greed always does a person in
                              Comment
                              • TheMoneyShot
                                BARRELED IN @ SBR!
                                • 02-14-07
                                • 28672

                                #120
                                Originally posted by jjgold
                                Greed always does a person in
                                Ask Tony Montana
                                Comment
                                • PatrickSarni
                                  SBR Wise Guy
                                  • 03-14-16
                                  • 570

                                  #121
                                  Mac4Lyfe- Allen Stanford was running a ponzi scheme. He's as guilty as sin. He ruined many peoples lives. Hope they lock him up and throw away the key.
                                  Comment
                                  • jtoler
                                    BARRELED IN @ SBR!
                                    • 12-17-13
                                    • 30967

                                    #122
                                    Originally posted by slayer14
                                    Sir Allen Stanford another man that could not control his money addictions is serving a life sentence for money laundering

                                    Allen Stanford: From king of the Caribbean to penniless in prison

                                    Allen Stanford, one of the richest men in the world, will appear before a court in Houston, Texas, on Thursday to be sentenced to up to 230 years in jail

                                    http://www.telegraph.co.uk/finance/f...in-prison.html
                                    I remember him vividly.
                                    Comment
                                    • Mac4Lyfe
                                      SBR Aristocracy
                                      • 01-04-09
                                      • 48359

                                      #123
                                      Originally posted by PatrickSarni
                                      Mac4Lyfe- Allen Stanford was running a ponzi scheme. He's as guilty as sin. He ruined many peoples lives. Hope they lock him up and throw away the key.
                                      I don't know the man but I do know how our government can set you up to be the fall guy. Really weird that the fund was paying everyone until the government decided to go in with a shit load of lawyers to divide everything up. Seems like the reason many people weren't paid is because lawyers made sure to ravage everything in the process.
                                      Comment
                                      • Plaza23
                                        SBR Hall of Famer
                                        • 12-29-13
                                        • 7392

                                        #124
                                        His sentence will be a country club style prison ala Martha Stewart. I doubt he even serves more than 2 years.
                                        Comment
                                        • Mac4Lyfe
                                          SBR Aristocracy
                                          • 01-04-09
                                          • 48359

                                          #125
                                          Originally posted by Plaza23
                                          His sentence will be a country club style prison ala Martha Stewart. I doubt he even serves more than 2 years.
                                          Why do you say? You never know what the hell the judge is thinking prior to sentencing (if it is a judge sentencing?). Maybe he'll get off pretty lenient or maybe they say fukk you and throw away the key. Bottom line, you never want your future in the hands of someone else. Walters is sweating huge 10 teamer parlay right now.
                                          Comment
                                          • Plaza23
                                            SBR Hall of Famer
                                            • 12-29-13
                                            • 7392

                                            #126
                                            Originally posted by Mac4Lyfe
                                            Why do you say? You never know what the hell the judge is thinking prior to sentencing (if it is a judge sentencing?). Maybe he'll get off pretty lenient or maybe they say fukk you and throw away the key. Bottom line, you never want your future in the hands of someone else. Walters is sweating huge 10 teamer parlay right now.
                                            Because Insider Trading is basically a victimless crime and nobody cares that much about it. Everyone on Wall Street claims to be "an insider", and plenty of stock brokers and investment bankers are calling their clients claiming to know what's going on. For Billy to not act on a tip, I mean - how do you not do that?

                                            It's way different than a Ponzi schemers like Madoff who literally stole people's money and played with it themselves. Walters simply knew alot of important people, and acted on things when they ran their mouth to him. To me, I don't even think it's a crime.
                                            Comment
                                            • jtoler
                                              BARRELED IN @ SBR!
                                              • 12-17-13
                                              • 30967

                                              #127
                                              Originally posted by Plaza23
                                              Because Insider Trading is basically a victimless crime and nobody cares that much about it. Everyone on Wall Street claims to be "an insider", and plenty of stock brokers and investment bankers are calling their clients claiming to know what's going on. For Billy to not act on a tip, I mean - how do you not do that?
                                              Comment
                                              • reigle9
                                                SBR Posting Legend
                                                • 10-25-07
                                                • 17879

                                                #128
                                                so plaza is more insane than jt

                                                that should be notable
                                                Comment
                                                • Brooklyn Dick
                                                  SBR MVP
                                                  • 09-12-08
                                                  • 1067

                                                  #129
                                                  He will get about 8 years. There are sentencing guidelines, and one important one is how much money was involved.

                                                  Unless he does what he did before he came to Vegas and rats a bunch of people out to the Feds. He was a cold stone snitch.
                                                  Comment
                                                  • tibbs
                                                    SBR Rookie
                                                    • 09-06-14
                                                    • 45

                                                    #130
                                                    Rare to find a successful bettor that can beat the books consistently and be smart enough to not engage in other forms of gambling. They are gamblers by nature so it seems to be full throttle all the time on everything.
                                                    Comment
                                                    SBR Contests
                                                    Collapse
                                                    Top-Rated US Sportsbooks
                                                    Collapse
                                                    Working...