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Sports bettor Billy Walters hopes his luck will revolve around his real estate. He put his massive Carlsbad, Calif. mansion on the market for an equally large sum: $26,950,000.
The San Diego-area home was where the prodigious gambler was originally serving the remainder of a five-year prison sentence. Walters was convicted in 2017 of conspiracy, securities fraud and wire fraud related to insider trading.
Walters, 74, was recently released from prison and is to serve the remainder of his sentence under house arrest.
The sprawling beachfront estate has been in and out of the market since 2011, when it had a price tag of $29 million.
Even at that exorbitant sum, it was reported to be a number “slightly less than he spent to put it together”, The Wall Street Journal reported at the time.
At the slightly lower price, this is easily Carlsbad’s most expensive listing. For the asking price, a buyer will acquire a custom-built home from 2007, with five full bedrooms and nine bathrooms spread over 10,000 square feet.
Estate of Billy Walters in Carlsbad, California
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Living and dining area with glass walls
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Kitchen with bar area
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One of five bedrooms
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Outdoor living space
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The waterfront property features walls of windows facing the Pacific, high ceilings, and multiple decks to take in the water views.
The layout includes a large room with a fireplace surrounded by stones, a dining area that opens to the outside and a kitchen with bar seating.
Additionally, the floor plan includes two master suites, an office, family room, gym and home theater and, of course, a poker room with a large marble bar.
The property also includes a 1,500 square foot guesthouse.
With 166 feet of waterfront, the 1.5 acres take full advantage of the ocean. Multiple landscaped decks, an outdoor kitchen, and fire pits are all available for high-level entertaining.
Prior to his sentencing, Walters was considered one of the most successful sports bettors in the history of gambling.
Through a Las Vegas-based real estate company, the avid golfer and gambler operates golf courses, car dealerships and commercial properties. In 2014, he reportedly had an estimated net worth of over $100 million.
He also seems to enjoy trying his luck with real estate, buying several properties over the years with his wife, Susan – with less luck on the sales side.
In 2014, the couple auctioned off a nearby home in Rancho Santa Fe, Calif., after an unsuccessful attempt to sell it for $20 million in 2013.
The auction had no reserve price and the house sold for $13 million.
Located in an exclusive enclave, the 21,000-square-foot residence spanned 9 acres and featured a “Dave Pelz-designed short game practice area,” according to a Golf Digest article.
Laura Barry with Barry Estates owns the listing.
