Billy Walters on 60 Minutes Sunday: Suicide-Pact Couple Ties To Sports Bettor

Written by:
C Costigan
Published on:
Jan/14/2011
Billy Walters on 60 Minutes

He’s probably among the most hated men in the online sports betting industry.  He’s also the most revered.  We’re talking about Billy Walters, the biggest sports bettor on the planet, and the most successful.  Walters will be profiled this Sunday (7 pm ET) on 60 Minutes

Correspondent Lara Logan gets a rare glimpse into Walters life. 

"Yesterday was a feathers day as we refer to in our household. It was feathers yesterday. There was no chicken," he tells Logan. "I had a pretty bad day...I lost $257,200. I could lose again today...I've had losing weeks...losing months...[but] never a losing year."

Walters claims to have never had a losing year.  Not true for some of those who have worked for and gambled on Walters “supposed” plays.

One such individual was Kenneth Weitzner, who ran the EOG.com website.  For years Weitzner bragged on his posting forum and to offshore sports betting operators how he bet for Walters.  The would-be psychiatrist claimed to use Walters “inside” information to his advantage.  During much of that time he appeared to be successful.  Last year Weitzner lost well over a million dollars gambling.  He also lost his life.  He and his wife committed suicide by sealing the windows of their Chesapeake, Virginia mansion and lighting a charcoal grill.  The couple died of carbon monoxide poisoning.  Weitzner had set his genitalia on fire during the first attempt.  He placed a hand-written sign outside the room that read “Do Not Resuscitate”.  In an attempt to disassociate himself with Walters, Weitzner’ last words on his form before the suicide were “I am not a runner, a bookie or an agent”.

It is not entirely clear if Weitzner was still betting on Walters behalf in later years.

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“Personally, I used to be involved betting round robin parlays for Mr. Walters,” he disclosed last January.

Whether directly associated or not, based on this article written by Weitzner, he still had inner knowledge of Walters organization, and presumably access to his plays. 

Over 10 years ago, the posting forums were abuzz with a story of how Walters was owed nearly a million dollars by Gary Kaplan, founder of BetOnSports.com, then based out of Costa Rica and considered the largest offshore sportsbook catering to North American gamblers.  Kaplan refused to pay.  Walters allegedly sent someone to the BetOnSports offices to collect.  Kaplan unleashed his goons to seriously injure the man who entered their office.  They followed him to an intersection and smashed the BMW that was taking him to an emergency room.

Walters himself never placed the bets and he admits to 60 Minutes that other individuals do so for him.  Walters, unlike many of whom work for him, is also known to be extremely disciplined. If any of these people got too greedy, it is widely believed that Walters would provide these individuals with the “wrong side”.  Some suspect that is what happened to Weitzner in later years, or at least they anticipated such an occurrence. 

Offshore bookies feared the Vegas-based sports bettor and would regularly cut gamblers off for whom they suspected were betting on his behalf.   BetOnSports would later enforce an “overzealous” policy to that effect.  Indeed, there was reason to be concerned.  Walters is said to have put many an offshore sportsbook out of business. 

He's a shark and a whale. He's a great white," says one of the city's most respected odds makers, Kenny White. "It means he's the most dangerous sports bettor in the history of Nevada...That's the damage he can do to a sports book," says White.

- Christopher Costigan, Gambling911.com Publisher

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