Gambling (also known as betting) is the wagering of money or something of value (referred to as "the stakes") on an event with an uncertain outcome, with the primary intent of winning money or material goods. Gambling thus requires three elements to be present: consideration (an amount wagered), risk (chance), and a prize.
William T. Walters (born July 15, 1946) is an American entrepreneur, philanthropist, and retired professional gambler widely regarded as among the most successful sports bettors in Las Vegas, having a winning streak which extended for over 30 years.
In 1965, Walters went to work as a salesman at McMackin Auto Sales, In 1987, Walters stopped all gambling other than sports betting and returned to his roots in business. As of 2016, his holding company owned interests in eight car dealerships with one under construction, one golf course on the Las Vegas Strip, a rental-car franchise, and a number of commercial properties.In 2020, his net worth was estimated at more than $100 million.
Walters started gambling when he was 9 years old, when he bet the money he earned from his paper route on the New York Yankees to beat the Brooklyn Dodgers in the 1955 World Series.
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