![]() His grandmother died when Walters was 13, forcing him to move to Louisville, Kentucky, to be with his mother. His grandmother arranged both loans for Walters. At age nine, he secured a second loan for $90 to start a paper route. At the age of seven, Walters secured a $40 bank loan for a power lawnmower to start a grass-cutting business. She worked two jobs cleaning houses and washing dishes while raising seven children. Walters credits his grandmother, a devout Baptist, with instilling a strong work ethic. ![]() He was raised by his grandmother in a home with no running water or indoor plumbing. His mother, who was an alcoholic, walked out on her son and two daughters shortly after the death of Walters' father. His father, an auto mechanic, died when Walters was 18 months old. Walters grew up poor in the rural town of Munfordville, Kentucky. His net worth is estimated at more than $200 million. As of 2016, his holding company owned interests in eight car dealerships with one under construction, one golf course on the Las Vegas Strip, a rental-car franchise, and a number of commercial properties. In 1987, Walters stopped all gambling other than sports betting and returned to his roots in business. Walters was convicted of insider trading and received a 5-year prison sentence, later commuted. Walters (born July 15, 1946) is an American entrepreneur, philanthropist, New York Times best-selling author, and one of the most successful American sports bettors of all time, having a winning streak which extended over 30 years. ![]()
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