By Claudine Zap
The sports bettor Billy Walters is hoping that his luck will turn around with his real estate. He’s placed his massive mansion in Carlsbad, CA, on the market for an equally large sum: $26,950,000.
The San Diego-area home was where the prodigious wagerer was originally serving out the remainder of a five-year prison sentence. Walters was convicted in 2017, on conspiracy, securities fraud, and wire fraud related to insider stock trading.
Walters, 74, was recently released from prison and must serve the remainder of his sentence under home confinement.
The massive oceanfront estate has come on and off the market since 2011, when it featured a $29 million price tag.
Even at that sky-high sum, it was reported to be a number “a bit less than he spent assembling it,” the Wall Street Journal reported at the time.
At the slightly lower price tag, it’s easily the most expensive listing in Carlsbad. For the asking price, a buyer will acquire a custom-built home from 2007, with five full bedrooms and nine bathrooms spread across 10,000 square feet.
The waterfront property features walls of windows overlooking the Pacific, soaring ceilings, and multiple decks to enjoy the water views.
The layout includes a great room with a rock-surround fireplace, a dining space that opens outside, and a kitchen with bar seating.
In addition, the floor plan includes two master suites, an office, family room, gym, and home theater, and, naturally, 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 some high-level entertaining.
Prior to his conviction, Walters was considered one of the most successful sports bettors in gaming history.
Through a Las Vegas-based property company, the avid golfer and gambler operates golf courses, car dealerships, and commercial property. In 2014, he reportedly had an estimated net worth of more than $100 million.
He also appears to like taking his chances with real estate, buying up multiple properties over the years with his wife, Susan — with less luck on the sales end.
In 2014, the couple placed a nearby home in Rancho Santa Fe, CA, up for auction, after an unsuccessful attempt to sell it for $20 million in 2013.
The auction had no reserve price, and the home wound up selling for $13 million.
Located in an exclusive enclave, the 21,000-square-foot residence sat on 9 acres and featured a “Dave Pelz-designed short-game practice area,” according to a write-up in Golf Digest.
Laura Barry with Barry Estates holds the listing.