Billy Walters was finally cornered by the Feds

Billy Walters was finally cornered by the Feds

August 08, 2017 3:00 AM


Billy Walters, who never harmed anyone as far as I know, was finally cornered by the Feds. This was their fourth or so try at convicting him and it didn’t come via a sports gambling indictment.

Tom Noble, an FBI agent based out of Las Vegas in the 80s, was obsessed with indicting and getting a conviction on Walters as an illegal bookie. Noble managed to get grand juries to look at his inept investigating of Walters but Billy beat every attempt simply because he convinced the jury he was betting not booking.

Dr. Ivin Mindlin, a onetime New York orthopedic surgeon who worked with the N.Y. Giants among his clients, moved to Las Vegas in the 70s. Mindlin gave up his surgical practice to bet sports. He did do an operation in Vegas that I can attest to since it was on me. It must have been on a good day in baseball for him because the operation was a success.

Mindlin teamed up with Michael Kent, a computer genius who worked for Westinghouse in Pittsburgh. Kent had a computer system in those early days that was a winner. Dr. Mindlin bet with us at Churchill Downs book in the 70s and early 80s among other outs. We became friends, even before the operation. He didn’t charge me a cent nor did Sunrise Hospital either.

In the early 80’s Walters, a self-made successful, wealthy sports bettor with many outs around the country, joined with Mindlin and Kent to form The Computer Group as they came to be called.

The Computer Group was good for us at the Stardust, they helped us win. It was simple despite the tales of uninformed journalists and others who weren’t involved. The Computer Group bet with us early each morning since we were the first to put up our numbers. Then when our numbers were bet into and moved, other books around town and the country copied our adjusted numbers and began to take action. The only problem for them was the numbers they painted were at their apex and the only action they got was one way.

We at The Dust however got two-way action because later we got money on the other side. The rub was some of these games were phony laydowns by the Computer Group because they wanted to take the other side with books in Vegas and around the country who put up our massaged numbers. They could simply cherry pick them to death.

We could win with two-way action, i.e. juice out, while others could lose because they needed to beat their one-way action. The Computer Group wanted us to win. Sweet huh?

I hope Billy gets sent to a minimum security federal location. The federal system is generous with doling out good time, i.e. months taken off your sentence for good behavior. He could be paroled in a couple years I hope.

As I said, Walters never harmed anyone. He was always a gentleman and it was an honest trait. Nothing phony about him. He was extremely generous in sharing his winnings with deserving people and causes. He gave many millions to those who needed and deserved help.

If you can’t win on appeal, Billy, I hope you do “good time,” except doing time is never really good time.