We fast forward in time now to 1986 to hear about the incredible story of Billy Walters. He was a used car salesman and a known big hitter in Las Vegas and regularly won and lost huge amounts of money. But in 1986, Billy Walters hit the casinos in Atlantic City on roulette in a big way. Only this time he was doing something different….a lot different.
What Billy Walters did was to make a proposition never seen or heard before in Atlantic City. He offered to deposit a sum believed to be $2,000,000 with a casino in return for them increasing their maximum wagers on roulette. A casino called the Golden Nugget accepted the offer and Billy flew in from Las Vegas to start his date with destiny.
This is where Walters methods varied drastically from Darnborough’s because he bet $2000 per number on five numbers and never once varied his bet. What initially struck the casino staff as being odd was that Walters insisted on playing on double zero roulette instead of single zero. It is here where the edge for the house dramatically increases to a whopping 5.26%.
Instead of fearing that they were being set up, the casino gaming staff just took Walters as another impulsive gambler who did not have a clue about what he was doing. After all they knew full well about his reputation for losing big sums of money in Las Vegas which meant that they were more than happy to accommodate him.
Walters played five numbers and these numbers were 7,10,20,27 and 36. For the benefit of European readers, 7 and 20 and 10 and 27 are situated next to each other on a double zero American wheel. Walters and an associate of his played for hour after hour and it was soon evident to all present that the casino management were worried.
A procession of worried telephone calls and huddled meetings told everyone that the big chiefs at the Golden Nugget were far from happy. On and on he played, relentlessly playing the same numbers. Sometimes Walters would go for a break and it would be his associate who would hold the fort and continue the action. Every time that Walters hit one of his five numbers, the payout was $70,000 less the $8000 that he lost on the other four numbers leaving him with a win of $62,000.
With action totalling $10,000 per spin, Walter’s actual expectation per spin was minus $526 so it was no wonder that the casino welcomed his action at the outset. But after almost forty hours of continual play and Walter’s being $4,000,000 ahead, the casino bigwigs terminated the game. They also tried to circulate stories in the local newspapers that Walter’s had just gotten lucky. The truth was that this was not down to luck and the casino management knew it as well.
To read about the second and concluding part of Billy Walters then go to part four.
Carl “The Dean” Sampson Author – Killer Roulette
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