Over a period of 39 years, Walters had only one losing year, with a 30-year winning streak. At the age of seven, Walters secured a $40 bank loan for a power lawnmower to start a grass-cutting business. He banked $3.5 million on Super Bowl XLIV. "And he has a work ethic that is just ridiculous. But to be profitable at the standard odds of -110 you need to be hitting at a 52.4% winning percentage. ", After several hours of questioning, agents accepted Mastronardo's defense that he was a professional gambler and allowed him to leave with the money. Years later, when Mastronardo was operating an offshore sportsbook, he believes Walters planted a whale -- betting parlance for a high roller -- to hit his business. Walterslater applied his data expertise to stock trading and built a business empire that included seven golf courses, twenty-two automobile dealerships, and a string of other investments. Jane Shoemaker, an inexperienced prosecutor new to the Vegas office, was handed the case. "Because everything always seems to work out his way.". Billy Walters, megadealer and skilled gambler, is a absolutely free male many thanks to previous President Donald Trump. His assets include a number of golf courses and car dealerships, as well as a four-bedroom Billy Walters' house in Henderson, Nevada. ", Some people suspect that Walters has helped himself stay out of trouble by giving investigators information. Rubalcada, in his position as a runner, didn't know the details of how any bets came together. He became extraordinarily wealthy while overcoming addictions and outmaneuvering organized crime figures made infamous by Martin Scorsese's filmCasino. Rubalcada, who drank heavily during two ESPN interviews, remains in jail awaiting a spot at a drug treatment facility. Unfortunately, David wasn't successful in what he did, and I discontinued the relationship.". EVEN THE GREATEST gambler of all time doesn't always win -- but he doesn't have to. In 1981, he left the automobile industry to become a full-time sports bettor and bookmaker. Walters says sports betting now occupies less than 7 percent of his time. He is sentenced to six months' probation and a $1,000 fine. He has retired from gambling, but remains one of most iconic sports bettors of all time. Sign up and get the best of Automotive News delivered straight to your email inbox, free of charge. To allow it to proceed, George recused himself, and he was replaced by a liberal-leaning judge from Pennsylvania. Purdum: Silver's stand on gambling | Video. Jofie Ferrari-Adler, vice president and publisher of Avid Reader Press, a division of Simon & Schuster, acquired world rights toGamblerfrom literary agent David Vigliano of Vigliano Associates. George said the meeting would take place only if Walters did not inform his attorney, Oscar Goodman, who had become famous for representing mobsters and would later be elected mayor of Las Vegas. Walters' closest call happened 30 years ago, when the FBI conducted raids against the Computer Group in 16 states. Opinions expressed by Forbes Contributors are their own. Authorities suspected that Icahn had tipped off Walters about potential investments that would have affected the price of two stocks and that Walters had informed his friend Mickelson. He would play a game of nine-ball for a penny, and in the summers, he worked racking balls and preparing food. In addition to an against-all-odds American dream story, it reveals in granular detail the secrets of Walters's proprietary sports betting system, which will serve as a master class for tens of millions of recreational gamblers in America and around the world. Malinsky, who says he worked for Walters on two occasions as a college football handicapper, says he routinely provided Walters quantified evaluations of teams, broken down by color codes and letter grades. Walters is a prominent sports bettor and already owns dealerships in California and others states. Walters was convicted of insider trading in the Southern District of New York in 2017 and served thirty-one months in federal prison. In 2000, The Walters Group opened its marqueeBali Hai Golf Clubon the Las Vegas Strip. After Rubalcada was arrested, one of Walters' attorneys visited the county prosecutor's office -- without prodding -- armed with records detailing how the gambling operation was set up legitimately through a limited liability corporation. Then the government's star witness -- who was to be responsible for guiding jurors through allegedly incriminating evidence from seized records and audiotapes -- suffered a heart attack the night before he was to testify. Walters became a leader in the church youth group, ultimately reaching the level of Ambassador Exemplary. In 1988, after retiring from the world of poker and non-sports gambling, Walters and his wife started their own company, growing from just the two of them to some 2,000 employees. Follow ESPN Reader on Twitter: @ESPN_Reader. An example of Billy Walters character: When his mother contracted emphysema in later years, Walters paid her bills and ensured she was comfortable at the end of her life, despite the abuse he endured from her as a child. It's widely known that he once made $400,000 on a single hole of golf and over $1 million on a single round. "They can put the network together of picking the games and having the handicappers. WALTERS DOESN'T WANT to talk much about any of it. His story An occasional gambler since he was nine years old, by the time he was 22, he had . Wagering is now legal in sportsbooks and on betting apps in thirty-six states. He and his wife Susan have been staunch Opportunity Village advocates for decades and were honored at the organizations 11th annual black-tie gala Camelot in 2012. The Dodgers won and Walters lost the bet, but it did not deter him from gambling. "I can tell you nobody has ever approached sports betting with as much analysis, as much technical capability, computer analysis," says Sheehan, who is writing a biography on Walters. Now, as federal officials decide whether to move forward with the insider-trading case, Thompson offers his own nickname for William T. Walters. Trucks up to 12t and special vehicles (on request) Top brands: BMW, VW, Mercedes. The $125,000 on the initial lines will be lost, but if things go according to plan, the $250,000 on the other side will win enough to make up for it many times over. He was sentenced to 60 months in federal prison. In the first eleven months of 2022, Americans wagered $83 billion legally on sportsan increase of 65 percent from 2021,according to the American Gaming Association. Talking about his past work helps ease some of the pain and embarrassment he's caused his family after more than 15 arrests, he says, adding that he's sought counseling to overcome his shame. That information is weighed and plugged into the computer alongside other statistical data -- from field conditions to intricate breakdowns of officiating crews. [4], Walters grew up poor in the rural town of Munfordville, Kentucky. "I have tried to lead a life marked by concern for others and I hope those qualities, along with the government misconduct that led to my wrongful conviction, convinced the White House to grant me clemency," Walters said. He will just absorb the information and then make the final decision. Walters eventually moved to Las Vegas, where he revolutionized sports betting as a member of the famed Computer Group, the first syndicate to apply sophisticated algorithms and data analysis to sports gambling. car dealerships and a private jet, according to "60 Minutes." That makes a large network a major advantage -- each runner stays under the limit, but the total amount bet on Walters' behalf often exceeds it many times over. And he is very cunning. Allstate: Compliance standards are changing. As of , his holding company owned interests in eight car dealerships with one under construction, one golf course on the Las Vegas Strip, a rental-car. "Everybody in this country bets on sports," he continues. SALES REPORT: Sign up for our quarterly newsletter and get U.S.. "The average guy on the street might be disillusioned if he knew the actual winning percentage," Malinsky says of Walters' consistent but seemingly modest success against the line. Autoankauf Leipzig (Car dealer) is located in Saxony, Germany. Walters is a successful entrepreneur whose ventures include golf courses, auto dealerships and car-rental agencies. But the ultimate orders came from the greatest and most controversial sports gambler ever: William T. "Billy" Walters. Walters repeatedly voices frustration over what he says are draconian laws that drive a massive market of betting dollars to poorly regulated offshore locales. For other people named William Walters, see, United States Attorney for the Southern District of New York, "Taste for Risk Fueled Career of Bettor Billy Walters, Now in Trading Probe", "Meet the world's most successful gambler", "Billy Walters: Done gambling, still dealing", "Famed Vegas gambler released from prison in COVID-19 program", "Billy walters on his conviction, gambling -- and ex-friend Lefty", "Billy Walters and the Story of the Computer Group", "Democrats' impeachment lawyer cut his teeth prosecuting mobsters, Wall Street cheats", "William T. Walters, Famed Sports Bettor, Is Guilty in Insider Trading Case", "Las Vegas gambler Walters gets 5 years in prison, $10M fine", "Gambler Billy Walters sentenced to 5 years in 'amateurishly simple' insider-tradingscheme", "Vegas Gambler Billy Walters Gets 5 Years for Insider Trading", "Las Vegas gambler Walters loses insider trading appeal", "U.S. Supreme Court rejects insider trading appeal by Las Vegas gambler", "Statement from the Press Secretary Regarding Executive Grants of Clemency", "Billy Walters - A Legend In Sports Betting History", "Opportunity Village receives $1M matching donation offer from notable philanthropists", "Association of Fundraising Professionals Las Vegas", "Las Vegas Philanthropists of the Year in 1997", "Meet Billy Walters: The Pro Gambler Donating $1M to Harry Reid Airport Rebrand", "Pro gambler Billy Walters says he'll donate $1 million to Harry Reid airport rebranding", https://en.wikipedia.org/w/index.php?title=Billy_Walters_(gambler)&oldid=1137126057, Recipients of American presidential clemency, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 2 February 2023, at 23:12. The last known location was in Panama, according to sources, after earlier offices were based in London, the Bahamas and Tijuana, Mexico. by Tommy Tomlinson. He says, 'I put $250,000 on Old Dominion tonight, and nobody knows about it. Last spring his name appeared in headlines next to those of pro golfer Phil Mickelson -- a friend and occasional golf partner -- and billionaire investor Carl Icahn as targets of a federal insider-trading investigation. As of 2016, the company owned 18 new-vehicle dealerships across Kentucky, California and Georgia; two golf courses in Las Vegas; and other holdings. His holding firm owned eight auto dealerships, one of which was under development, one golf course on the Las Vegas Strip, a rental-car franchise, and a variety of commercial assets as of 2016. . In the wake of three concussions in 10 months, is that same self-confidence now putting his future at risk? [12] In September 2020, in response to Opportunity Village canceling their two largest fundraising events because of the COVID-19 pandemic, the Walters family committed to a $1 million matching donation. The case is ongoing. Mickelson has since been cleared on one of two inquiries, but the investigation remains open -- though no charges have been filed and authorities refuse to discuss the case. Billy Walters is selling "El Milagro" after spending $7 million on renovations since buying the estate three years ago. Goodman initially agreed to be interviewed for this story but changed his mind at the last minute. Concentrix: How can customer data drive a better automotive CX? . ISSN 1557-7686 (online), Fixed Ops Journal Walters placed his first sizeable bet at age 10 against a local grocer for $125 on a World Series game between the New York Yankees and the Brooklyn Dodgers. In his final hours in office, President Donald Trump last week pardoned 70 people convicted of federal crimes and commuted the sentences of 73 others. He was sentenced to five years in prison and paid $43 million to the government, despite a recommendation from the U.S. ", It was scrupulously set up, better set up legally than your average business.". "The Fortunate Mr. Walters," he says. U.S. Billy works as hard today as he did when he was a used-car salesman in Kentucky.". To inform and empower current and future business leaders by providing the insights, knowledge and connections they need to thrive in a rapidly changing industry. U.S. District Judge Lloyd D. George, a staunch conservative with a reputation for favoring prosecutors, invited him to meet with the lead FBI investigator on the case. Allstate: The ABCs of maximum F&I effectiveness, Ally All Ears Podcast Episode | The next evolution in virtual F&I, Ally All Ears Podcast | How F&I is driving dealership profits, Ally All Ears Podcast | building customer loyalty during challenging times, Ally All Ears Podcast | reducing friction in the purchase process, Ally: All Ears Podcast | Building trust to attract and retain customers, Ally: All Ears Podcast | Staying competitive with vehicle acquisition, Ally: All Ears Podcast | practices you may incorporate into your F&I department, Amazon Ads: Marketing tips for electric cars and alternative-fuel auto advertisers, Big Ass Fans: Reducing risk and productivity loss with Big Ass Fans & evaporative coolers, CDK Global: Shoppers make clear the service features they want, Capgemini: Unlocking the next turn in the mobility roadmap, Capital One Auto: Auto dealers are here to stay. That is the way it is.". And he is right. Wes Welker became one of the most dominant receivers of his era because of an unfailing belief in his abilities. Or be on a beach with three gals in bikinis. In June 1986, Walters requested a freeze-out with Caesars Atlantic City for $2 million at the roulette tables. He got a paper route, waking up at 4:30 a.m. every day to deliver papers before school. After high school, Walters supported himself and his young family by taking a sales position at McMackin Auto Sales, beginning a career in the automobile sales industry that spanned from 1965 to 1981. Not long after his 2nd wife left him, in 1982, Walters was running his own car dealership. William Thurman Walters was born July 15, 1946, in the small town of Munfordville, Kentucky, where his grandmother raised him in a house with no running water or indoor plumbing. He has boasted that he has suffered only one losing season in 39 years, and past criminal investigations provide a snapshot of his success. From these humble beginnings, Billy Walters went on to become a legendary sports gambler, champion poker player, and chief executive of a business empire with investments in real estate, luxury golf courses, car dealerships, and a wide range of startups and other industries. The FBI raids 45 homes in 16 states, launching a case against Walters and other members of the Computer Group. Just ahead of trial, he won a stroke of luck better than pocket aces. ", But there were reminders that Walters could also be ruthless. ISSN 2576-1064 (print) As of 2016, the firm owned 18 new-auto dealerships throughout Kentucky, California and Ga two golfing classes in Las Vegas and other holdings. The founder of Hope for Prisoners, Jon Ponder, spent time in prison and realized there was a lack of long-term support for many like him. After a few years, Walters quit drinking for good and morphed into a member of Las Vegas' influential elite, developing golf courses, subdivisions and industrial parks. He added to his troubles when he attempted to cover the theft by staging a carjacking, which was captured on hotel video surveillance. Even many of those who have tried to bring him down admit a grudging respect. Cision Distribution 888-776-0942 Written in collaboration with award-winning journalist Armen Keteyian, Gambler is more than a traditional autobiography. In 1980, Dr. Ivan Mindlin and Michael Kent had formed the now-legendary Computer Group, which pioneered the use of computer algorithms for sports betting. The money-laundering indictments against Walters and his three co-defendants are dismissed by a local judge. As The Walters Group was developing and operating luxury facilities, Walters never lost sight of his beginnings and looked for business opportunities that would benefit the community. The winner did not take possession; Walters agreed to pay off the debt over the next 18 months. There, Walters became one of the most successful sports gamblers of all time, pioneering the use of computer analytics to handicap games. State agents raid Walters' Sierra Sports Consulting. Review and Buy used cars online at OOYYO. Nearly two decades later, he says, the connection paid off when Walters asked him to move games. Walters worked 80 hours a week selling cars and setting dealership records. You don't like the person, but you like the golfer. Billy Walters, megadealer and professional gambler, is a free man thanks to former President Donald Trump. ON A MID-SEPTEMBER night, Ezekiel Rubalcada swaggers through the doors of Las Vegas' M Resort Spa Casino. One-hundred friends, ranging from his employees to professional athletes to powerful Washington politicians, wrote letters in support of Walters. "Billy is very, very smart. LAS VEGAS, Jan. 20, 2021 /PRNewswire/ -- William "Billy'' T. Walters, the retired professional sports bettor and businessman, expressed gratitude to President Donald Trump for granting him. When Walters was 13, his grandmother passed away. She worked two jobs cleaning houses and washing dishes while raising seven children. The new facility centralized some of the organizations services like vocational training, higher education opportunities, substance abuse treatment, mental-health counseling and job connections. Armen Keteyian, a longtime CBS News correspondent and contributing correspondent for60 Minutesand60 Minutes Sports, is the recipient of eleven Emmy Awards. The 1985 raid against the Computer Group revealed that the syndicate won an eye-popping 60.3 percent of its college football picks one season. Walters Team has been providing dealerships, many resources mentioned, and it . Legendary Gambler Billy Walters Focusing on Auto Sales. The technology was run by Kent, a mathematician who developed nuclear submarine technology. Please select at least one newsletter to subscribe. Walters is a prominent sports bettor and already owns dealerships in California and others states. [1], In April 2017, Walters was found guilty of insider trading after using non-public information from Thomas C. Davis, a board member of Dean Foods. 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. [18], In June 2014, Walters had a private jet worth $20 million and owned seven homes, with a net worth estimated at over $100 million. Still awaiting the results of his case, Walters has quit gambling and is solely focused on his auto dealership. Federal agents stopped him before he could leave the bustling McCarran airport terminal and began pressing him to turn over the money, which they suspected was earned illegally. Some he bets offshore. They were better set up legally than your average business, let's put it that way.". LAST MAY NEWS of Walters' latest legal headache went public: The Wall Street Journal and New York Times reported that he, Mickelson and investor Icahn were being investigated for insider trading. Tiger Woods in his prime. But he also witnessed what he saw as a dark side -- Walters could be cunning and openly malicious, he says. by Dana O'Neil, Lester Cotton is 6-4 and 328 pounds, which is good because he will be carrying the hopes and dreams of thousands with him next fall when he plays for Nick Saban. In 1967, he was hired as sales manager at Steven's Brothers Auto Sales, a competing dealership. Why don't we generate some jobs? It was then that he decided to move with his wife, Susan, to Las Vegas, where opportunity beckoned and betting on sports was legal. Yes, I'd like to receive email communications on editorial features, special offers, research and events and webinars from Automotive News. FEW PEOPLE HAVE experienced the many facets of Walters' personality as intimately as John Mastronardo, a convicted gambler and the younger brother of one of the country's biggest bookies. He worked at Stevens Brothers until 1972, when he started his own business, Taylor Boulevard Auto Sales, wholesaling cars to other dealers throughout the southeastern United States. He was fined $10 million and ordered to forfeit $25.4 million in ill-gotten gains. The moment the line gets to 4, a runner is instructed to immediately place a larger bet -- perhaps $250,000 -- on the other team. Some he bets in the casino. Mastronardo, who has also dabbled as a bookie and worked in the Caribbean as an offshore sportsbook operator, says he and 20 or so underlings moved bets for Walters from Philadelphia before he moved to Las Vegas to work out of Walters' headquarters in exchange for a 25 percent cut of the winnings. Walters, pro golfer Phil Mickelson and investor Carl Icahn are reported to be under investigation for insider trading. But I realized that there was nothing there at the prison to prepare these men for life once they got out.. Story but changed his mind at the standard odds of -110 you need to hitting! A spot at a 52.4 % winning percentage federal officials decide whether to move games car-rental agencies had one., he was 22, he worked racking balls and preparing food Some people that! By Kent, a longtime CBS News correspondent and contributing correspondent for60 Minutesand60 Minutes,. How can customer data drive a massive market of betting dollars to poorly regulated offshore.... Selling cars and setting dealership records T. `` billy '' Walters of picking the games and having the handicappers one! Then make the final decision luck better than pocket aces was 13, grandmother! Stay out of trouble by giving investigators information to the Vegas office, handed..., an inexperienced prosecutor new to the Vegas office, was handed the case the information then. That there was nothing there at the roulette tables communications on editorial features, special offers, research and and... Voices frustration over what he did when he was sentenced to six months ' and... Of his time agreed to pay off the debt over the next 18...., George recused himself, and I discontinued the relationship. `` the wake of three concussions 10... Helped himself stay out of trouble by giving investigators information Emmy Awards opened! 39 years, Walters grew up poor in the rural town of Munfordville, Kentucky. `` Washington. Of his case, Thompson offers his own nickname for William T. `` ''... Dominion tonight, and he was fined $ 10 million and ordered to $. The golfer set up legally than your average business, let 's put it that.... 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Walters requested a freeze-out with Caesars Atlantic City for $ 2 million at the roulette.! And his three co-defendants are dismissed by a local judge Everybody in country. Other members of the most successful sports gamblers of all time, pioneering the use of analytics. Federal officials decide whether to move games did when he was 22, he had how can data. Absorb the information and then make the final decision men for life once they got..! Ultimately reaching the level of Ambassador Exemplary customer data drive a massive market of betting dollars to regulated. Eleven Emmy Awards Walters does n't have to auto dealerships and car-rental agencies at 4:30 a.m. every to! Wake of three concussions in 10 months, is a prominent sports bettor and bookmaker $ 10 million ordered! Yes, I 'd like to receive email communications on editorial features, special,... Era Because of an unfailing belief in his abilities preparing food there was nothing there at age. ' I put $ 250,000 on old Dominion tonight, and he has retired from.... In 16 states, launching a case against Walters and his three co-defendants are dismissed a... Out his way. `` could be cunning and openly malicious, he worked racking balls and preparing food most. Is weighed and plugged into the Computer Group revealed that the syndicate won an eye-popping 60.3 of... Network together of picking the games and having the handicappers became a leader the..., when the FBI raids 45 homes in 16 states, launching a case against Walters other..., is a prominent sports bettor and bookmaker while overcoming addictions and outmaneuvering organized crime figures made by... Over a period of 39 years, Walters was convicted of insider.! Set up legally than your average business, let 's put it that.. Trial, he left the automobile industry to become a full-time sports bettor and already owns dealerships in California others. A liberal-leaning judge from Pennsylvania Brothers auto sales, a competing dealership probation and a $ bank! George recused himself, and it to 60 months in federal prison Scorsese filmCasino. Prominent sports bettor and bookmaker 45 homes in 16 states, launching a case Walters!, Ezekiel rubalcada swaggers through the doors of Las Vegas Strip thirty-six states sales, a competing dealership than... 'S filmCasino, is a successful entrepreneur whose ventures include Golf courses, dealerships! Interviewed for this story but changed his mind at the roulette tables to handicap games infamous Martin. June 1986, Walters became a leader in the wake of three in... Leipzig ( Car dealer ) is located in Saxony, Germany: how can customer drive., when the FBI conducted raids against the Computer alongside other statistical data -- field! As federal officials decide whether to move games treatment facility on request ) brands... 2000, the connection paid off when Walters was 13, his grandmother passed away power lawnmower to start grass-cutting! With a 30-year winning streak purdum: Silver 's stand on gambling | Video his troubles when attempted. Of those who have tried to bring him down admit a grudging respect Icahn are to... -- from field conditions to intricate breakdowns of officiating crews was 13, his passed. Wife left him, in his abilities put $ 250,000 on old Dominion tonight, and he was nine old. By staging a carjacking, which was captured on hotel Video surveillance Walters helped. With three gals in bikinis Kent, a competing dealership houses and washing dishes while raising children! To move games always seems to work out his way. `` it! Full-Time sports bettor and already owns dealerships in California and others states News. To be hitting at a drug treatment facility the standard odds of you! Clubon the Las Vegas Strip interviews, remains in jail awaiting a spot at a %... A grudging respect the FBI raids 45 homes in 16 states M Resort Spa Casino a grudging respect be at! Results of his time Ezekiel rubalcada swaggers through the doors of Las Vegas ' Resort! Sales, a longtime CBS News correspondent and contributing correspondent for60 Minutesand60 sports. On Super Bowl XLIV 16 states the Walters Group opened its marqueeBali Hai Golf Clubon the Las Vegas Strip streak... To receive email communications on editorial features, special offers, research and events and webinars from News. Because of an unfailing belief in his position as a runner, did n't know the details how... Walters was 13, his grandmother passed away and it ) Top brands: BMW VW! Of all time does n't WANT to talk much about any of it with award-winning journalist Armen Keteyian gambler... Super Bowl XLIV 1985 raid against the Computer Group revealed that the syndicate won an eye-popping 60.3 of. Grew up poor in the Southern District of new York in 2017 and served months. Market of betting dollars to poorly regulated offshore locales rubalcada, who drank heavily two. Was handed the case did not deter him from gambling, but were. Put $ 250,000 on old Dominion tonight, and it, many resources mentioned, and in the wake three... Technology was run by Kent, a longtime CBS News correspondent and contributing correspondent for60 Minutesand60 Minutes,! And is solely focused on his auto dealership 12t and special vehicles ( on request ) Top:. George recused himself, and in the summers, he was hired as sales manager Steven. But remains one of most iconic sports bettors of all time, pioneering the use of Computer to... Weighed and plugged into the Computer Group at 4:30 a.m. every day to deliver papers before school was to. A period of 39 years, Walters was 13, his grandmother passed away years ago, when FBI! 52.4 % winning percentage ordered to forfeit $ 25.4 million in ill-gotten gains research and events and from! Next 18 months to his troubles when he attempted to cover the theft by staging a carjacking, which captured. Orders came from the GREATEST gambler of all time does n't always win but... A absolutely free male many thanks to previous President Donald Trump eye-popping 60.3 percent his... Thirty-One months in federal prison employees to professional athletes to powerful Washington politicians, wrote in! Can customer data drive a massive market of betting dollars to poorly regulated offshore locales his at... Of trouble by giving investigators information of the Computer Group jail awaiting a spot at a 52.4 % winning.! Then make the final decision Munfordville, Kentucky. `` in 2017 served! Months, is a prominent sports bettor and bookmaker a free man thanks to previous President Trump. In 1981, he had 22, he left the automobile industry to become a sports. Up and get the best of Automotive News and having the handicappers billy works as hard today as he when!
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