Prominent sports bettor William “Billy” Walters is being investigated in a possible insider trading scheme involving pro golfer Phil Mickelson and billionaire investor Carl Icahn, according to reports in the Wall Street Journal and Reuters.
The three men haven’t been accused of any wrongdoing. It’s not even clear if a case will ever be made against them.
Walters, a Kentucky native who resides in Las Vegas, is known for being the “world’s biggest sports bettor,” a former pro sports bettor tells us.
Walters, 67, is known for being incredibly private. However, he opened up in “60 Minutes” interview with Lara Logan back in 2011.
In the sports betting world, Walters has a reputation for being a “whale” and a “shark”, according to the “60 Minutes” report. He has supposedly never had a losing year betting on sports.
Walters is also secretive when it comes to his sports betting strategy. According to “60 Minutes”, people have tried going through his trash to get his edge. He uses a network of anonymous sports bettors with code names to place bets on games in Las Vegas sportsbooks remotely from his home. Those in his network don’t even know each other, according to the report.
Walters grew up poor in Kentucky. He was raised by his grandmother.
These days, Walters is worth hundreds of millions of dollars. He’s an avid golfer and owns four golf courses. He also owns seven homes, eight car dealerships and a $US20 million private jet, according to the “60 Minutes” report.
In the past, Walters has had some bad experiences with Wall Street. He said he got swindled on Enron, WorldCom and Tyco stocks. He told “60 Minutes” that in the sports betting world he’s run into “a lot of bad guys,” but he’s run into “many more with suits and ties on.”
Watch the “60 Minutes” clip below: