Born in Palmyra, Pennsylvania, Watters attended Milton S. Hershey High School.

[1] Walters attended Pennsylvania State University, where he played football at the end position for the from 1955 to 1957.

[2] He was selected by the Associated Press (AP) as a second-team player on its 1957 College Football All-America Team.

[3] He was also selected by both the AP and the United Press as a first-team player on the 1957 All-Eastern college football team.

[5] Walters was selected by the Baltimore Colts in the fourth round (48th overall pick) of the 1958 NFL draft.