Sports Betting Scheme Industry

Cory Zeidman Pleads Guilty in Sports Betting Scheme

By Amelia Walker Senior Content Writer Updated: 16 December 2024

Amelia Walker Senior Content Writer

Amelia Walker is a Senior Content Writer at Betting.US. She has a law degree and deep knowledge of the gambling laws in the United States. Her mission is to keep players informed about responsible gambling, while her passion for sports helps her create useful guides. Amelia has over a decade of experience in betting, which has positioned her as a trusted voice among our readers.

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Ex-professional poker player Cory Zeidman, pleaded guilty to defrauding sports bettors in New York and Florida by falsely claiming to have inside information on different sporting events. According to the United States Attorney’s Office for the Eastern District of New York, he pleaded guilty to conspiracy to commit mail and wire fraud in connection with a sports betting scheme that was ongoing for years.

The Scheme

The scheme ran from 2006 to 2020 and is alleged to have totaled $25 million. Zeidman and his partners created fake business names such as “Gordan Howard Global” and the “Ray Plamer Group”. They then ran national radio advertisements encouraging bettors to pay the organizations for betting advice regarding nonpublic injury information, dirty referees, and fixed games.

Victims of the scheme were also told that their bets had little risk if not any. This information was completely made up or based on internet research and not factual.

Special agent Charles Walker of Homeland Security in New York said in the release,

sports bettors sought Cory Zeidman’s advice before gambling their money, but it was Zeidman himself who was scoring big through his deceptive practices, outright lies, and high-pressure tactics that exploited unsuspecting clients.

Any person who has been victim of these alleged crimes is asked to contact Homeland Security Investigations.

The Coming Sentence

Zeidman was indicted in 2022 for his role in this betting scheme, and he could face a maximum of 20 years imprisonment. He may also face charges of up to $3.6 million in forfeiture and restitution.

Nassau County Police Commissioner Patrick Ryder said,

The guilty plea of defendant Cory Zeidman is a reminder that crimes against our residents will not go unpunished. Numerous victims lost millions of dollars after being given fraudulent and misleading information regarding online betting.

US Attorney Breon Peace said in a statement,

Zeidman and his partners baited unsuspecting victims with false claims of an edge in sports betting only to feed them lies and pocket millions of dollars from their savings and retirement accounts.

He then went to on say,

Today’s guilty plea sends a message to all those who would prey upon the public by falsely advertising gambling as an ‘investment opportunity’: the only sure bet here is that this office will work tirelessly to root out sources of disinformation and fraud and prosecute them to the fullest extent of the law.

Zeidman is a well-known poker pro who is a former resident of Long Island, New York. He won a World Series of Poker bracelet in 2012. The poker database, known as The Hendon Mob says that Zeidman won more than $692,000 in live earnings. The last time he played in an official tournament was in May 2022, just a few days before his indictment. He has been out on bail ever since then. No date for sentencing has been set yet.