Billy Walters

I had never heard of Billy Walters so I picked up the book looking to be entertained by a fellow's autobiography of a life of risk on the front lines of gambling and other hair raising ventures. And entertaining it was. As not only was he this and more, much more, considered the most successful sports punter of all time. We're talking many millions of dollars flowing through his hands and a good share into his coffers. Unheard of in the sports wagering business. Yes, a few do well, but the vast majority do not. Not Walters, he clearly has been the king.

He got in a little hot water, well a lot of hot water, when he stepped over into the financial markets and stock investing in particular. Here he came up against some laws that say you cannot create an unfair advantage knowing what is going down ahead of time. Of course no one really does this kind of thing, wink, wink. Walters if you believe his story, didn't either. But a jury in New York thought otherwise and he ends up doing a stint in a Fed pen down in Florida. Quite a fall from the luxurious lifestyle he was accustomed to.

It is all laid out here for one to read and contemplate, and marvel at. He even inserts two detailed chapters on how he goes about his sports wagering and it is quite impressive. I will pass on this though, as it still looks pretty tough to pull off. But Walters did and probably still does.

I really could not conclude whether he really did engage it the misdeeds in the capital markets as charged and convicted. It depends on who you believe. Both sides seemed shady to me. But the jurors seemed convinced he did, and extensive efforts to flex political connections and muscle finally got him a commutation, not a pardon. And that from Mr. Operator himself, El Presidente Trump.

The one thing though that struck me about this tale was that despite his incredible haul from the sports betting arena, it was not enough. He needed more. Much more, and it looked like like "shrewd" stock investing was just the ticket. As Gordon Gecko declared, greed is good. I guess, but it can also blow up in your face and cost you hard time. So maybe that is the lesson here.

In summary, it is an enjoyable read for those curious about life out there on the edge. And oh yes you will get his take on his once good friend Phil Mickelson, and how he turned out to be not so good a friend. And we see Phil for what he is, Phil.… (altro)