The secrets of a giant winner revealed - can you improve your chances of winning using Billy Walters’ strategy?
Billy Walters was a Las Vegas-based sports gambler who sometimes spent up to $2 million a day and raked in hundreds of millions a year.
And now he reveals his philosophy. Although this article is about his own methods, you can look at each one and see how it adapts perfectly to the lottery player.
In fact, there's very little difference in the way he played, and us. Except for the amount of course.
In an article written by David Duffield of Champion Bets, Billy reveals his secrets. It makes for a fascinating read.
A 37-year winning streak is basically unheard of in the gambling industry. But Walters has been able to achieve this and often bets more than a million dollars a game. He single-handedly moves the market.
Walters’ hundreds of millions of winnings have enabled him to build an empire that includes multiple mansions, golf courses, hotels, property development, car dealerships, a $20 million private jet and various other business interests.
Billy Walters boards his jet with 60 Minutes reporter Lara Logan (center) and wife Susan. PHOTO: 60 Minutes screenshot
Here are some lessons that punters can learn from a man described as the Michael Jordan and Warren Buffet of the sports betting world:
LESSON #1. Don't Expect Instant Success
Walters didn't succeed right from day one, in fact, he went broke many times. As a younger man he described himself as a gambling addict and compulsive loser. That seems to be a very common experience amongst gamblers who ultimately become very successful.
"I can assure you that every successful gambler I know has been through some monumental failures on his way to getting there."
Lottery Lesson: I talk a lot about the need for patience. Fact is, you're competing with millions of others number combinations, and your set won't come up each time. Keep playing and the numbers will eventually swing your way.
LESSON #2. Information Gives Him An Edge
Walters has surrounded himself with sharp minds and employs an array of experts in the roles of consultants, statisticians, mathematicians and computer programmers to help him compile, analyze and ultimately profit from huge amounts of information.
Many years ago Walters even employed people to coordinate with the Las Vegas airport cleaning crew to gather used newspapers from all the incoming flights. A team of readers would then analyze all of this information that most of the linesmakers and the general public were not aware of.
Lottery Lesson: The Silver Lotto Membership Site is the best way to stay current with the latest number trends. I have the best info for your winning strategy there.
LESSON #3. Value Is Everything In Both Business And Gambling
"If you value something at ten, then you're a buyer at eight and a seller at 12."
But this concept of value is very different from how most punters operate. They are very keen to back their chosen team or horse, and will do so without giving enough thought to a fair price.
Lottery Lesson: You can spend too much or too little to try and get your winning results. Use my recommendations and find the right amount to play with the PRO Custom Profiles.
LESSON #4. The Bigger The Value, The Bigger The Bet
The Walters team produces their own lines and only bet when they are different to the market. Returns are enhanced by their wagering approach since the bigger the discrepancy (ie. estimated value or positive expectation), the bigger the bet.
He has incredible confidence in his own numbers and looks to exploit his advantage the most when that edge is the biggest. But success isn’t about making one big bet. Walters never lets it all ride on one game. instead, he spreads out his bankroll across many opportunities where he has a positive expectation
But we’re not talking huge margins. Simply tossing a coin will get you a 50% betting against the spread. A 52.4% winning percentage is required to be profitable. For all of his work and success, Walters winning strike-rate is ‘just’ 57%.
But the sheer volume of his bets and the ability to optimize his bankroll management has enabled him to amass hundreds of millions in profits.
Lottery Lesson: The only way to improve your odds is to play often. If you're playing larger games like Powerball or Mega Millions, you need to spend more than with a smaller game.
LESSON #5. There Will Be Drawdown
Walters may win every year, but he has previously said he has plenty of losing weeks and losing months.
Change is inevitable but some constants remain.
He succeeded by using the edge that came from reading all the small-town newspapers. But they died when the internet arrived. That is just one small example of how almost everything evolves.
So Walters adapts his approach to stay ahead of the game, but he still believes that the fundamentals of gambling success remain the same.
He says, "The game of handicapping sports is really the same game as it was 40 or 50 years ago. It’s much more competitive now, and the numbers are much better than they were in the 80s, but it’s still the same game. It still comes down to evaluating information."
Lottery Lesson: Nothing has changed with mathematical odds either. My System is the same as it was over 25 years ago and still gives increased wins.
LESSON #6. Computers Can Only Take You So Far
A feel for the market is also exceptionally important.
Billy Walters makes it clear when he states: "The computer whiz kids who are involved in sports today don’t have a clue, I mean a clue, about how to bet their money. They don't have a feel at all for which way the line is going to move. There is a big difference in knowing how to bet and when to bet your money in sports. It is almost as important as handicapping is."
LESSON #7. Don't Be In Denial
"A lot of people have a difficult time stepping back and doing a re-valuation..."
Long-term winners do exist. Walters success shows that it is actually possible to succeed in the betting world. It’s not easy, but he is living proof that it is definitely possible.
Winning takes persistence and a long-term view, something that Billy Walters follows with tremendous results.