"I've been swindled out of quite a bit quite a bit of money on the stock market. And I bought a lot of Enron stock once. And I got swindled. I bought a lotta WorldCom stock, got swindled. I bought a lotta Tyco stock. I got swindled," he told Logan.

His disdain for Wall Street is one of the reasons Walters decided to talk to "60 Minutes" - a chance he says to make the point that the gambling world is not as shady as most people think.

"I ran into a lotta bad guys, a lotta thieves. I mean, they'd steal the Lord's Supper. But I can tell ya, percentage-wise, I ran into many more with suits and ties on than I have with the gamblers," he told Logan.

"So you would say that the hustler from Vegas got hustled by Wall Street?" Logan asked.

"There's no doubt about it," Walters replied.

Read the full article here.

Pitt T. Maner III writes: 

It was interesting how Walters as a "whale" or "great white" was able to push the sports book line on games by initially placing bets on the team he intended to bet against. I would think it would take more than a couple of 100,000 dollars to do the same in the stock market where the competition is more fierce and pockets much deeper.

It seems that the early games in college season often have very large spreads and might be more exploitable for professionals until the actual strengths of the teams are determined. Someone who has scouted all the preseason practices and knows more than the average bettor will likely have an advantage especially at the start of a season and the lines become more accurate.





Speak your mind


Resources & Links