Career
As a player, he was drafted from the South Fremantle Football Club in the WAFL to the West Coast Eagles in the American Federation of Labor-Congress in 1988, before later playing for the Sydney Swans and Fremantle. As a coach, he started his career in 2006 with WAFL minor league team Subiaco, followed by a stint as an assistant coach with the Collingwood Football Club from 2010 to 2011. Watters then became the senior coach of the Street Kilda Football Club, following Ross Lyon"s departure, for two seasons from 2012 to 2013.
West Coast Eagles
He played 46 games for the Eagles over the next four seasons, including their first ever grand final appearance in 1991.
However, when he was not selected in the 1992 premiership team, he was traded to Sydney as part of a deal which gave the Eagles the Number 1 draft pick, which they used to select Drew Banfield. Sydney Swans
The reduction in public pressure in a non-American Federation of Labor-Congress city and an injury free period saw Watters play some of his best football in the 37 games for the Swans.
His good form in his first season was recognised with being runner-up in the Swans" best and fairest award. Fremantle
With the entry of the second Western Australian team in 1995, Watters returned to join the Fremantle Dockers and was the first vice-captain of the club
Injuries, however, would take their toll and at the end of the 1996 season he retired from American Federation of Labor-Congress football.
He continued to play for South Fremantle until the 1998 season, when he retired with a total of 207 senior games, 109 in the American Federation of Labor-Congress, 92 in the WAFL and six for Western Australia. After retiring as a player, Watters spent time as a radio commentator with Perth radio station 6PR.
In 2006, Watters was appointed the coach of the Subiaco Football Club colts team In November 2006 he was appointed the league coach, after Peter German accepted an assistant coaching position with the Fremantle Football Club.
In late 2009, Watters signed with the Collingwood Football Club as an assistant coach for seasons 2010 and 2011.
At the conclusion of the 2011 season, he was appointed the senior coach of the Street Kilda Football Club following the resignation of Ross Lyon but was sacked from that position on 1 November 2013.