Summary of Gambler By Billy Walters: Secrets from a Life at Risk

By Willie M. Joseph

DISCLAIMER

 

This book does not in any capacity mean to replace the original book but to serve as a vast summary of the original book.

Summary of Gambler By Billy Walters: Secrets from a Life at Risk

 

IN THIS SUMMARIZED BOOK, YOU WILL GET:

• Chapter astute outline of the main contents.
• Fast & simple understanding of the content analysis.
• Exceptionally summarized content that you may skip in the original book

 

Billy Walters, a controversial sports gambler with a 36-year winning streak, shares his life story in Gambler. He shares secrets of his betting system and his relationship with Phil Mickelson. Walters explains how bettors often overlook variables like home field advantage, player values, injuries, weather forecasts, and stadium conditions. Gambler is a gripping autobiography and essential guide for success in sports betting.

• Language: English
• Publisher: Willie M. Joseph
• Release date: Aug 30, 2023
• ISBN: 9798223093930

Willie M. Joseph

Willie M. Joseph summaries get straight to the point and provide essential tools to help you be an informed reader in a busy world, whether you’re browsing for new discoveries, managing your to-read list for work or school, or simply deepening your knowledge. Available for nonfiction titles, these are the book summaries that are worth your time.  

Book preview

Prologue

October 11, 2017.

The author, William Walters, is a seventy-one-year-old inmate at Federal Prison Camp (FPC) Pensacola, where he was recommended two prisons based on his felony convictions on insider trading. Taft was chosen due to poor air quality in the Central Valley, while Pensacola offered a shorter commute for his wife, Susan, and a Residential Drug Abuse Program. However, Hurricane Nate was approaching, and they had to wait for their reporting time.

Upon arriving at FPC Pensacola, the author was greeted by a corrections officer named Green, who left him in a tiny cell with air-conditioning blasting away. He was then assigned to a counselor, Ms. Gamble, who introduced him to prison food and a laundry service. The author was then sent to Dorm C, the top floor of a crumbling red-brick building, where he was housed with two hundred men. The rooms in Dorms B and C were identical, with bunk beds and lockers for personal belongings. The walls were stained with black mold, and the smell of farts and rancid food further spoiled the air. The author's experience at FPC Pensacola was a stark reminder of the harsh conditions in prison and the importance of a strong sense of identity.

FPC Pensacola, a minimum-security federal prison, is known for its sandy beaches, waterfront restaurants, and bars. The area is home to jet-fuel-soaked air, bonechilling winters, unremitting rain, and some of the worst drinking water in the United States. In 2009, Forbes magazine ranked FPC Pensacola as the second cushiest prison in the country. However, the place had changed dramatically by the time the author arrived. The ramshackle dorms were falling apart, and air chillers ran at arctic levels except in summer.

During North Florida winters, temperatures could dip into the twenties at night. To keep from freezing, the author had to purchase sweatpants, sweatshirts, and T-shirts, as well as winter gloves.

On day two, Dr. Luis Berrios examined the short list of drugs prescribed by the author and promptly eliminated two of them. He replaced an anti-inflammatory drug with a different prescription that tore up the stomach. The author was on prison overload and didn't want to step on any toes, bloodied or not. He started asking questions about his life, including his job, job, and commissary.

The author's life ran aground when his father died at age forty-one, leaving three young children in the care of separate relatives. It took decades to get back on track, living on the edge and aunting it. He married twice, became a father, and married his third wife, Susan Walters, who inspired him to be better. By age thirty, he had matured enough to be a loving husband and father. His transformation didn't happen overnight, but he beat his addictions and overcame his worst vices to become a successful gambler, entrepreneur, businessman, investor, philanthropist, father, and husband.

The author, a successful sports bettor, has made hundreds of millions in the stock market, business, and sports gambling. He has built a legitimate group of businesses from scratch, including residential and commercial real estate, thirteen golf courses, and twenty-two car dealerships. When he was indicted for the sixth time, he was in his seventies and enjoying a clean and righteous existence. However, in 2011, he was indicted for his stock trading and association with Wall Street legend Carl Icahn, professional golfer Phil Mickelson, and Dallas community leader Tom Davis.

The author admits that he is wired differently and impatient, which has done him more harm than good. He was not a good bet to even graduate high school, but he made it thanks to an advanced degree in street smarts. He turned seventy-six years old while chronicling his story in these pages, including a Scorsesean cast with nicknames like Jim Dandy, Puggy, Sarge, Treetop, Cabbage, and Texas Dolly, along with famous and infamous folks like his mortal enemy, the disgraced former casino czar Steve Wynn.

The author aims to inspire those struggling with addiction to lead better lives, expose the full truth about his felony convictions that led him to a federal prison for thirty-one months, explain how federal prosecutors colluded with senior agents at the FBI to bring charges of insider trading after decades of investigating him on phony allegations of illegal bookmaking, and share his secrets on sports gambling. His philosophy on life is simple: you come into this world with nothing, and you leave with nothing. At the end of the day, there are two people you can't bullshit—yourself and your maker.

The author believes that studying the lives of sinners than saints can benefit more from studying the lives of sinners than saints. After reading the author's life story, they hope you feel the same way.

Chicken or Feathers

The author is a sports bettors and handicapper who works tirelessly to analyze and adjust their predictions based on real-time data from over four dozen sportsbooks worldwide. The author's wagering strategy involves adjusting the point spread and adjusting their bets to suit their preferences. The author's team uses tactics and equipment similar to an undercover spy operation to maintain an edge against competitors.

The sports betting industry has grown significantly since the 1992 Professional and Amateur Sports Protection Act (PASPA) was struck down in 2018. The Supreme Court allowed states to determine whether to legalize sports gambling, leading to a record $100 billion in gambling in 2022. Major sports leagues, such as the NFL, have embraced the industry, with NFL owners voting to allow sportsbooks in stadiums to operate on game days.

The government's efforts to make sports gambling legal and legal have created jobs, generated tax revenues, and cleaned up the criminal element. Gambling websites now accept wagers on various sports, including football, boxing, tennis, UFC, and fantasy sports. The author highlights the success of the New York State Gaming Commission in granting mobile sports-betting licenses for the next ten years to two major gaming companies.

In January 2022, the state set a national record for the highest total handle in a single month, with New York taking in more than $16 billion in handle in the fiscal year ending in March 2023. The author's hard work and determination have allowed them to navigate the complexities of sports betting and its impact on the lives of millions of people.

The author shares their experiences as a gambler and their methods for making informed wagers. They have spent over 40 years in sports betting, driven by their obsession to grind out an advantage against bookmakers and other gamblers. They believe that betting sports is about value, and that a sports gambler must lay down $11 to win $10 and pay $11 for a loss. The percentage of gamblers who are successful enough to earn a living is less than 1%, as the professional term is eleven to ten odds.

The author also explains that there are a few gamblers who gain an edge by specializing in one sport and betting as soon as the line comes out. These people make a living but not serious money, as their betting limits are small and lines move quickly.

The author's approach to sports betting is militaristic, with a wide array of targets from every direction through a clandestine network of accounts based in various countries. They have been around gamblers since they were six years old and have dealt with various types of hustlers, including killers, drug dealers, celebrities, billionaires, and wouldbe tough guys.

The author's life has been filled with a chicken or feathers existence, where they gambled until they had all their money or you had all of mine. They have lived a chicken or feathers existence, losing cars, houses, businesses, and marriages, and bet without fear. The author's life is filled with a sense of urgency and determination, akin to a chicken or feathers existence.

Kentucky Home

Born into rural poverty in Munfordville, Kentucky, the author grew up in a farming community with a strong sense of community. Their father, Roscoe Bill Walters, was a hustler, gambler, and serious card player. He was a month shy of forty years old when the author was born. The author's uncle, Bill Walters, was a hustler, gambler, and serious card player. The author's father passed away in 1948 at the age of forty-one, and the author never knew his father.

The author's mother, Aileen Quesenberry Walters, was ill-equipped to care for three young children and tried to divorce her father twice. The author was known as Billy Thurman from that day forward. The author's early childhood was not the sort that stirs fond memories, as her mother was ill-equipped to care for three young children and couldn't cope with her anger and frustration. Shortly after her father's death, she moved north on Highway 65 to Louisville, leaving her children with an aunt and a paternal grandmother. By the grace of God, the author was entrusted