Cory Zeidman, professional poker player and previous winner of a bracelet at the World Series of Poker was arrested yesterday and charged with fraud and money laundering.
The conspiracy started in 2004 and lasted all the way up to 2020. Zeidman and his crew would rope people into their business which claimed they had insider info on sports games and that their customers could bet on them with 100% confidence, essentially paying to know what games were “fixed” and who to bet on.
The group took out radio ads and had people pay for this “privledged information” which they said was coming from various sources, including doctors at college athletic programs and TV executives. The customers, or should I say victims, would then place large wagers they otherwise would not have based on this faulty information.
Sometimes the bets would hit, but over this 16 year span many victims were left ruined financially.
Zeidman and his co-conspirators reportledy profitted over $25 million during the course of this sceme, taking the money they fooled people into giving the group, and turning around using that money to live a lavish lifestyle.
Sports gambling is fun, especially when you win. The odds are stacked against you, so even if you are paying for picks from a professional, always practice proper bankroll management and bet responsibly. There is no such thing as a sure fire bet.
