by Frankie Taddeo, Sports Illustrated
One of the most successful sports bettors in history could get his five-year prison sentence cut short, per the following report from George Knapp, Chief Investigative Reporter for KLAS TV 8 I-Team in Las Vegas.
Billy Walters, who built an estimated fortune of about $500 million (including his golf courses, auto dealerships and car-rental agencies) almost exclusively from his career as a professional gambler, was convicted of insider trading in early 2017. He was later given a five-year prison sentence and a $10 million fine.
According to Vegas oddsmakers and Walters himself, he has never had a losing year wagering on football and basketball—which enabled him to buy seven homes and a $20 million jet.
In a 2018 interview with ESPN, Walters blamed professional golfer Phil Mickelson for his conviction.
“Here is a guy (Mickelson) that all he had to do was come forward and tell the truth,” Walters told ESPN. “That was all he had to do. The guy wouldn’t do that because he was concerned about his image. He was concerned about his endorsements.”
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