After a recent excerpt highlighted Phil Mickelson‘s gambling behavior, the anticipation for the release of Billy Walters’ book “Gambler” has reached a new height.
Walters stated on the No Laying Up podcast that he wrote the book to help others who have similar backgrounds or battle addiction. Walters began gambling on sports when he was young, back in the days of “ignorant perceptions” about those who gambled. Walters, who is a sports handicapper and bets expert, wanted to share his knowledge with sports fans now that gambling has become legal in most of the United States.
Walters said, “I would not have sold this info for $30 million ten years ago. But I’m now 10 years older and want to share it with sports fans.” It’s like my legacy.”
He also wanted the truth to be told about his conviction for insider trading in the Southern District New York and his relationship to six-time major winner Mickelson.
Walters used to be regarded as being one of the best sports bettors around. He was sentenced in 2017 to five-years in prison after being convicted of conspiring to commit Insider Trading from 2008 to 2014. On August 22, his book will be published, in which he goes into more detail about the insider-trading charges that led to him being sent to prison. Mickelson, who was named as a relief defendant, agreed to repay $1.03million, including interest and profit, in the civil lawsuit.
Walters partnered with many people before and after Mickelson. They met in 2006 at the AT&T Pebble Beach Pro-Am and did not see each other until 2008 at the Wachovia Championships in Charlotte. Walters asked Mickelson about his partnership in the locker rooms when he ran into him.
They began a betting partnership of five years – with a simple split of 50-50, where both put up the same amount – as well as a friendship lasting about eight.
Walters claimed that Mickelson was not involved in the selections, and that they were so successful the bookmakers had to close their accounts. Walters was concerned when he discovered that Mickelson and two other men had done business in 1995, which led to an investigation into money laundering.
Walters said, “I didn’t know that. If I knew that before starting our partnership, I would never have had a partner with him.” Walters claimed that one of the men was sent to federal prison over a $2.8M wire transfer that had been sent to Mickelson as a favor. Walters claims that the money was due to a gambling debt. From podcast :
I believe that the banks would not wire money to the offshore bookmakers. So he asked the man to wire money to him, and he’d pay the bookmakers. He agreed to do it for him as a favour and wired him $2.8million. The bank reported it as suspicious activity and this led to a federal investigation.
When the investigation into Walters’s Dean Food stock began, the partnership ended. Walters claimed that the SEC was going to interview Mickelson regarding some stock Mickelson had purchased, and Mickelson took the Fifth Amendment. Walters claims he confronted Mickelson and asked why, and that Lefty told him his lawyers were worried about questions being raised regarding the separate investigation into money laundering.
Walters said Mickelson had hired an attorney in Washington, D.C., a settlement was reached, and Mickelson’s money laundering case was dropped. One man was sent to prison, and a statement said that Mickelson had returned $1 million from a stock deal. Walters claims that this made him appear guilty.
He asked, “Why would anyone give back $1 million in a financial deal if you had not done anything wrong?”
Walters claims that during an interview with the FBI, Mickelson denied having ever received any inside information from Walters. Walters claims Mickelson also said he’d testify. He did not.
Walters admitted that, in retrospect, the biggest mistake he made was not to testify. If Phil had testified I’m as certain as I am that I wouldn’t have gone to prison.
Walters treated his gambling operation as a business, and maintained detailed records.
- When a bet is made
- Who it was made by
- Who was it on?
- How much did they win, or lose?
He has detailed accounts in the book of tens and thousands of six-figure wagers. The book contains a number of bets that Mickelson placed with his two other associates, and a few others with Walters.
Credibility is the most important thing in my life. Either you have it, or not. “Either you are truthful, or you are not,” he said. “Alan Shipnuck revealed in his book that he lost $40,000,000, but later (Mickelson) said, ‘yeah, I lost $40,000,000,’ yet he did not tell the whole truth. “I felt that we had to tell the truth and correct the record.”
Walters claimed that Mickelson was betting on the Ryder Cup 2012, in which he played for the U.S.
Walters said, “I was shocked.” Up until then, there was never even a hint of a discussion about golf betting.
“I’m confident that he realized his mistake and never placed the wager. “I didn’t say that he made the wager, I only said he tried to make it,” he continued. “I think that he was just a little carried away and thought they would win.”
Mickelson, who initially declined to comment upon being approached at the LIV Golf event in Bedminster, released a statement stating that he has never betted on the Ryder Cup.
