It happened in Vegas: how Billy Walters saw a hot hand go cold

Alleged stock tips came as gambler’s business was faltering; how a Las Vegas real estate fortune dried up

19th June, 2016
Billy Walters, once considered the USs most successful gambler Picture: Bloomberg

South-east of the Las Vegas Strip, on the deserted fairways of Stallion Mountain Golf Club, the signs were everywhere: Billy Walters was running out of luck.

For three decades, Walters, often considered the most successful sports gambler in the country, had fed on the heady exuberance of Sin City. Nowhere else was the boom wilder, the consumption more conspicuous. By the early 2000s, he’d built a business empire with interests ranging from gambling to real...

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