If you need assistance, please call 858-345-9040

Sports Betting Icon to Auction His Rancho Santa Fe Estate

Monday, January 29, 2018   /   by Sean Zanganeh

Sports Betting Icon to Auction His Rancho Santa Fe Estate

Hey Friends,


Check out this article, originally published in UTSanDiego.  You can have your chance to own one of the finest estates in the covenant of Rancho Santa Fe.  On August 15, Billy Walters, a sports betting icon, will be auctioning off his 9-acre estate, known as El Milagro, spanish for "the Miracle."  You can view the original article here.


Auction His Rancho Santa Fe estateSports gambling icon Billy Walters will auction his Rancho Santa Fe estate next month with no reserve price.


The 9-acre estate, called El Milagro, which is Spanish for "the miracle," includes a 21,000 square-foot home that has seven bedrooms, eight full bathrooms, three half bathrooms, and a variety of amenities including a tennis court, pool and putting green.




The property at 5425 Los Mirlitos in Rancho Santa Fe was originally listed in July for $19.995 million. Had it sold at that price, it would have been more expensive than any home sold in the county in 2013. The most expensive property sold last year was a Del Mar property for $18.75 million, public records show. Instead, El Milagro will go to the highest bidder on Aug. 15.


The home is owned by Billy Walters, an entrepreneur and sports betting icon who bought the property in 2010 for $8.5 million. A news release from auctioneer Concierge Auctions says Walters invested $7 million for renovations and interior design. In a video advertising the auction, Walters said he and his wife Susan had plans to make El Milagro their main home, but have since decided to live in one of their homes closer to the coast, a decision he called difficult.


Walters said in a statement that he has confidence auctioning El Milagro is the right move.


"I've staked my livelihood on making risky bets. The safest bet I ever made, though, was on El Milagro," said Walters. "When you have a timelessly gorgeous Spanish-Mediterranean estate set just minutes away from one of the best golf courses, one of the best schools, and one of the best race tracks in the entire world, you just can't lose. I never thought I'd say this, but with El Milagro, 'the house always wins.'"


Walters was in the news recently after federal authorities launched an insider trading probe involving Walters, golfer Phil Mickelson, also of Rancho Santa Fe, and investor Carl Icahn, the Wall Street Journal reported. All three have denied any wrongdoing. The New York Times later reported that Mickelson's role was overstated.


The auction will be live at the property 6 p.m. Aug. 15, 2014 with previews daily from 1 to 4 p.m. and by appointment.

My San Diego Dream Home
Sean Zanganeh
12780 High Bluff Dr
San Diego, CA 92130
858-345-9040
CA DRE# #01851910

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS®, Inc.