A Review of Gambler: Secrets from a Life at Risk by Billy Walters
Billy Walters is undoubtedly one of the most influential figures in sports betting history. This is why, when I heard his book was coming out via a VSiN podcast, I knew I had to get my hands on it. About a month ago, “Gambler: Secrets from a Life at Risk” popped up at my local library, a novel showing a rare peek into his life’s journey from small Munfordville, KY to glamorous Las Vegas and ultimately, a Pensacola, FL prison.
I was surprised to see all the negative reviews of this book online, specifically on Goodreads. However, as I read them, I realized that many readers skipped to the parts about Phil Mickelson, missing out on a terrific story in the process. The Mickelson stories are interesting, but most of it is already public information at this point. Mickelson refused to testify on Walters’ behalf in court, even though what they were doing together was legal, according to Walters. It seems like Mickelson may have jeopardized that though, and that is why he did not want to get involved.
This type of suspicious dealing is a common theme throughout the book — after all, it is called “Stories from a Life at Risk.” Walters navigates a life of fear, and rightfully so. For a lack of better terms, there was a lot of shady stuff going on. From his illegal bookmaking in Kentucky to manipulating beard accounts nationwide, Walters grapples with the ethical dilemmas of his many careers and actions.
The line I find most important from this book is actually in the prologue:
“I firmly believe that we can benefit more from studying the lives of sinners than saints.”
Walters, undeniably falling in the second group, Walters attempts to redeem himself. His philanthropic efforts have been welcomed in the Las Vegas community and beyond, from Opportunity Village to his other charitable work, adding to his complicated legacy.
Later in the book, like in many moments in his life, the tone turns a bit aggressive, but it is justified and brings an extra element to the novel. You get to experience a little part of every aspect of Walters.
The book is littered with technical jargon at parts, though, and if you’re not interested in sports gambling, it may become a bit of a bore. You could probably skip past the genuine technical chapters that describe Walters’ power ratings system and his methods. However, as someone interested in the industry, I found this information quite helpful. I thought these chapters would be more surface-level, but they provide good numbers for valuing things like home-field advantage and turf differences. If you are in the process of developing a power ratings system, particularly for the NFL, these chapters will be useful to you. There are some factors that Walters employs that I do not factor into my handicapping at the moment that I will use in the future.
Walters’ story is not perfect, but that is where it thrives. The novel provides the opportunity to learn from a flawed protagonist. If you know the name “Billy Walters,” I’d recommend picking this one up. If you don’t, you can probably pass and not miss out on too much.
