Las Vegas sports gambler William "Billy" Walters convicted on Insider Trading - Las Vegas Lifestyle Forum - Las Vegas Entertainment and Living Information

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Las Vegas sports gambler William "Billy" Walters convicted on Insider Trading

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04-08-2017 , 04:35 AM

rtd353

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Join Date: Apr 2014 Posts: 3,895

http://www.reuters.com/article/us-us...-idUSKBN1792T7

In their second day of deliberations, jurors found Walters, 70, guilty on all 10 counts he faced, including securities fraud, wire fraud and conspiracy, following a three-week trial in federal court in Manhattan.

Walters is regarded as the biggest sports bettor in the world, using runners all over Las Vegas to get millions of dollars down on any given game.

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04-09-2017 , 02:54 AM

PoolGuy

enthusiast

Join Date: Feb 2017 Posts: 55

Can't believe Phil Mickelson gets a walk on this! Alleged owed Walters 2 million in gambling debt and Walters used Mickelson to trade Dean Food stock after receiving tips from Dean Food Chairman, who also owed Walters millions in gambling debts.

Saw Dutch Boyd tweeted that he is taking the under on 10 years in prison when Walters is sentenced later this year.

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04-09-2017 , 08:38 AM

DaveC95818

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Join Date: Jul 2008 Posts: 1,132

Quote:

Originally Posted by PoolGuy

Mickleson settled. How is giving back 1M to the feds a walk?

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04-09-2017 , 11:05 AM

PoolGuy

enthusiast

Join Date: Feb 2017 Posts: 55

Quote:

Originally Posted by DaveC95818

Mickleson settled. How is giving back 1M to the feds a walk?

Commit crime of insider trading to pay off gambling debt then payback gain. No jail time = walk.

http://golfweek.com/2017/03/31/phil-...billy-walters/
court documents revealed in the trial Thursday showed that Mickelson handed Walters $1.95 million in gambling debts just months after acquiring that $931,000 thanks to Walters’ tips.

Mickelson has been mentioned as a pivotal figure in the trial, but the 46-year-old claimed last week that he won’t be called to testify. As Bloomberg reported days later, the left-hander’s counsel has said Mickelson will invoke the Fifth Amendment if called to testify.

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04-09-2017 , 11:11 AM

NickMPK

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Originally Posted by PoolGuy

As Bloomberg reported days later, the left-hander’s counsel has said Mickelson will invoke the Fifth Amendment if called to testify.

Why is it relevant to an insider trading charge that Mickelson is left-handed??

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04-09-2017 , 12:46 PM

augie_

missed out on bitcoin

Join Date: Dec 2003 Posts: 21,627

people call him "lefty" etc, it's just a thing

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04-09-2017 , 12:46 PM

augie_

missed out on bitcoin

Join Date: Dec 2003 Posts: 21,627

he's actually right handed, just plays golf left handed

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04-10-2017 , 06:22 AM

jeccross

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Join Date: May 2005 Posts: 3,807

Quote:

Originally Posted by NickMPK

Why is it relevant to an insider trading charge that Mickelson is left-handed??

Everyone knows lefties can't be trusted.

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04-10-2017 , 09:37 AM

tibrida

adept

Join Date: Mar 2007 Posts: 906

Quote:

Originally Posted by DaveC95818

Mickleson settled. How is giving back 1M to the feds a walk?

Getting to walk after giving up some funds and insider trading is more than a walk. This guy just hit the lotto.

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04-10-2017 , 03:01 PM

#10

pig4bill

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Quote:

Originally Posted by jeccross

Everyone knows lefties can't be trusted.

That's right, Satan is left-handed.

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04-10-2017 , 04:10 PM

#11

Spike McAwesome

adept

Join Date: Jul 2012 Posts: 835

Quote:

Originally Posted by pig4bill

That's right, Satan is left-handed.

Hell the Romans knew that. That's why left-handed in Latin is "sinister".

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04-10-2017 , 04:34 PM

#12

chip&aprayer

enthusiast

Join Date: Feb 2017 Posts: 95

My best friend as a child was left handed and his father wouldn't allow it. Forced him to learn to use his right to do everything. Now I understand why.

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04-10-2017 , 04:41 PM

#13

eco74

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When will my people stop being persecuted.

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04-14-2017 , 02:59 AM

#14

JoseJohnnyJimJack

adept

Join Date: Sep 2016 Posts: 998

Quote:

Originally Posted by eco74

When will my people stop being persecuted.

Seriously. I even text right-handed because of the stigma.

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04-14-2017 , 06:52 AM

#15

donof

journeyman

Join Date: Dec 2007 Posts: 280

When I worked in a sportsbook, one of my supervisors told me a story about Mickelson betting 10,000 on the Ravens and 45 to 1 back in 2001 when they won the super bowl. He collected over 460,000 and he didn't tip anything. The supervisor and 1 ticket writer had to stay late too due to the cashing of his ticket. Anyway, ever since hearing that story- I've rooted against him. Jail would have been even better than him choking away a major.

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04-14-2017 , 11:01 AM

#16

D_Lonnigan

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Join Date: Oct 2007 Posts: 291

Because he should tip you for doing your job of counting out his money? Get real.

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04-14-2017 , 04:04 PM

#17

eco74

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Originally Posted by D_Lonnigan

Because he should tip you for doing your job of counting out his money? Get real.

Because he should tip you for doing your job of dealing a hand of poker? Get real.

Because he should tip you for doing your job of serving food? Get real.

Because he should tip you for doing your job of (fill in the blank)? Get real.

Cheapass.

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04-14-2017 , 04:45 PM

#18

augie_

missed out on bitcoin

Join Date: Dec 2003 Posts: 21,627

poor sportsbook workers, it's a race between you and mcdonalds workers in seattle on who will become a kiosk first

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04-14-2017 , 04:54 PM

#19

ZenRabbit

grinder

Join Date: Nov 2009 Posts: 530

Quote:

Originally Posted by augie_

poor sportsbook workers, it's a race between you and mcdonalds workers in seattle on who will become a kiosk first

And some people will still call you a cheapass for not tipping the machine.

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04-14-2017 , 06:35 PM

#20

NickMPK

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To be fair, there is a fairly well-established list of professions where tips are expected. Waiters and poker dealers are clealy on that list. I've never heard of bookies being on it though.

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04-15-2017 , 02:00 AM

#21

pig4bill

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Quote:

Originally Posted by augie_

poor sportsbook workers, it's a race between you and mcdonalds workers in seattle on who will become a kiosk first

My guess is the only reason it hasn't happened yet is they need someone to explain to rookies what pointspreads and money lines are. Otherwise, yeah, they could probably convert every video poker machine in the place to take sports bets with minimal expense.

I saw on tv where a burger flipping robot was being tested. Morons behind the Fight for $15 are going to reap what they sow, pricing themselves right out of the job market.

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04-15-2017 , 04:14 AM

#22

borg23

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Originally Posted by donof

Entitled casino worker cries about not getting a handout-shocker.

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04-15-2017 , 12:10 PM

#23

eco74

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Quote:

Originally Posted by pig4bill

I saw on tv where a burger flipping robot was being tested. Morons behind the Fight for $15 are going to reap what they sow, pricing themselves right out of the job market.

I know, where on earth are these poor people going to find another minimum wage job?

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04-16-2017 , 10:39 AM

#24

SiMor29

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Join Date: Aug 2010 Posts: 4,905

When the bookies start tossing me 10% back on my losses I'll consider giving them 10% of my winnings.

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04-16-2017 , 11:45 AM

#25

eco74

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Quote:

Originally Posted by SiMor29

When the bookies start tossing me 10% back on my losses I'll consider giving them 10% of my winnings.

Presumably you tip poker or blackjack dealers though. What's the difference?

I do get that whether sports book cashiers fall under the umbrella of what society considers tipped employees is debatable to some, but they do indeed fall under that umbrella as much as a doorman or dealer- sometimes tip, sometimes not (and that's ok), but they do derive much of their income from tips. My point was that Mickelson probably should have thrown them a tip when they stayed late to pay out his huge win.

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