Gene Walet competed at the 1956 and 1960 Olympics in the Dragon class. In 1956 he sailed with his father, Gene Walet, Jr.. Walet, III sailed for the Southern Yacht Club where he was a fleet captain. He won the Mallory Trophy when he was only 18-years-old. He won the North American sailing championship in 1953-54, the South American Lightning class championship in1955, the Pacific Coast International Dragon class title in 1955, the Gulf Yachting Association Lightning championship in 1955, and the Southern District Lightning class title for five consecutive years, 1952-56. Walet, III attended Tulane University.