Gambler's Carlsbad Mansion Hits the Market at $29M

It’s not every day that a $29 million property pops up on the real estate market in San Diego County, let alone one that belongs to a notorious professional gambler.

Billy Walters, a well-known sports bettor, recently listed his North County mansion with local agent Doug Harwood of The Harwood Group at Coldwell Banker Residential Brokerage.

Built in 2007, the oceanfront estate is situated off Carlsbad Boulevard and features five bedrooms and nine bathrooms (five full), all sprawled over 10,000 square feet and 1.46 acres. The detached guest house alone rivals most single family homes at an estimated 1,500 square feet.

With a listing description that boasts, “This estate will redefine what it means to be the best,” the luxury comes with a matching price tag. At asking price, the online mortgage calculator estimates monthly payments of $124,542 per month, and that’s following a 20 percent down payment of $5.8 million.

So, what do you get for $29 million besides a house you could get lost in? From the property’s dedicated website, here’s a snapshot of the mansions most lavish features:

• Double master suites
• State of the art in-home movie theatre
• Private gym, exercise room
• Dedicated poker room
• 600-sq-ft. office with surf break views
• 166 feet of ocean frontage
• Total of six, fully landscaped oceanfront patios, some with lava rock fire pits

This list barely scratches the surface. Sparing no expense, the home’s marble bars and 85-inch flatscreen televisions all blaringly broadcast Walters’ colossal capital.   

According to a 60 Minutes interview, granted by a typically media-weary Walters and aired earlier this year, the wagering-enthusiast works with anonymous partners throughout Las Vegas to place the majority of his bets. Risking millions of dollars at a time, he intimidates even the largest casinos with his reputation for big wins.

As for his ventures in real estate, the Carlsbad mansion is the most expensive of seven homes Walters owns with his wife of 35 years. Reports indicate the listing price is less than what he paid to build it. The listing agent was unavailable for comment.