1. #106
    SteveRyan
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    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.

  2. #107
    19th Hole
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    Quote Originally Posted by Harry N. Lloyd View Post
    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.


    Quote Originally Posted by MickeyMan View Post
    To be fair you don't know Billy's handle on sbr and he very well could be one of those you named.

  3. #108
    jjgold
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    Quote Originally Posted by SteveRyan View Post
    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

  4. #109
    Philmill
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    Quote Originally Posted by SteveRyan View Post
    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

  5. #110
    TheMoneyShot
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    Quote Originally Posted by Harry N. Lloyd View Post
    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.

  6. #111
    jjgold
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    He was crook since kid

    Manny of you guys are squares and to commercial and just believe a little bit

  7. #112
    Harry N. Lloyd
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    If we were squares why would we be hanging out here in the Players Talk forum of SBR? This is the home of Pros.
    Points Awarded:

    RoyBacon gave Harry N. Lloyd 1 Betpoint(s) for this post.


  8. #113
    Harry N. Lloyd
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    BTW, is it a coincidence that Billy Walters was sent to prison and RichKas went awol at the same time?

  9. #114
    slayer14
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    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 at 12:02 PM.

  10. #115
    akdb8r
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    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!

  11. #116
    slayer14
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    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

  12. #117
    INVEGA MAN
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    Greed, greed wil do you in

  13. #118
    Mac4Lyfe
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    Quote Originally Posted by slayer14 View Post
    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.

  14. #119
    jjgold
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    Greed always does a person in

  15. #120
    TheMoneyShot
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    Quote Originally Posted by jjgold View Post
    Greed always does a person in
    Ask Tony Montana

  16. #121
    PatrickSarni
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    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.

  17. #122
    jtoler
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    Quote Originally Posted by slayer14 View Post
    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.

  18. #123
    Mac4Lyfe
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    Quote Originally Posted by PatrickSarni View Post
    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.

  19. #124
    Plaza23
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    His sentence will be a country club style prison ala Martha Stewart. I doubt he even serves more than 2 years.

  20. #125
    Mac4Lyfe
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    Quote Originally Posted by Plaza23 View Post
    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.

  21. #126
    Plaza23
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    Quote Originally Posted by Mac4Lyfe View Post
    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.

  22. #127
    jtoler
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    Quote Originally Posted by Plaza23 View Post
    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?

  23. #128
    reigle9
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    so plaza is more insane than jt

    that should be notable

  24. #129
    Brooklyn Dick
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    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.

  25. #130
    tibbs
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    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.

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