Billy Walters Shares His Top Sports Betting Tips for Success

Billy Walters, known as one of the most successful American sports bettors of all time, has shared his top tips for winning big in his book Gambler: Secrets from a Life at Risk.

Walters mentioned that most people have no chance of winning in sports betting due to the expansion and legalization in most states in the United States. He advises bettors to shop around for the best odds available and have accounts with multiple sportsbooks. "If you don’t have multiple accounts, if you don’t shop around for the best price and you don’t understand what the right price is to lay for each half-point, you don’t understand how a point spread compares to the moneyline and you don’t know the true odds you’re laying on some of these bets, you’ve got no chance."

Walters recommends risking only between one to three percent of your bankroll and avoiding emotional betting. "We all let our emotions take over from time to time — I don’t do it anymore, but I did when I was much younger — you lose three or four games on a Sunday all at once, and it’s Sunday night and you’ve got no opinion at all but you’re going to double up and catch up and get your money back, and the same thing goes for Monday night. That’s suicide if you do that." He then advises serious gamblers to stay away from parlays or accumulators as the odds rarely reflect good value, with bookmakers taking advantage of the unaware.