Legendary sports bettor William “Billy” Walters is auctioning his gorgeous Rancho Santa Fe, California estate for $US20 million with no reserve.
Walters and his wife purchased “El Milagro” three years ago. They spent more than $US7 million on renovations, but have decided to sell the home.
The auction for “El Milagro” will take place on August 15. Concierge Auctions will be hosting the event.
Walters is known for being the “world’s biggest sports bettor.” One prominent sports bettor described Walters to us as the “godfather of Las Vegas sports betting.”
Walters grew up poor in Kentucky. He’s worth hundreds of millions of dollars. He owns several homes, golf courses, car dealerships and a private jet, according to “60 Minutes.”
It was recently reported that Walters is being investigated in a possible insider-trading scheme involving billionaire investor Carl Icahn, according to The Wall Street Journal and Reuters. The men haven’t been accused of any wrongdoing. It’s not even clear if a case will ever be made against them.
In the meantime, let’s take a tour of Walter’s “El Milagro” estate. It’s definitely a dream home.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.