Category Archives: sports betting

Sports bettor Billy Walters gets five years in prison, $10m fine for insider trading


billy-walters-five-years-insider-tradingFamed sports bettor Billy Walters has been fined $10m and sentenced to five years in federal prison for insider trading.

In April, Walters was convicted on charges of securities fraud, wire fraud and conspiracy for his role in an insider trading scheme that netted him $32m in profits while avoiding $11m in losses. On Thursday, US District Judge P. Kevin Castel called Walters “a cheater and a criminal, and not a very clever one.”

The US Attorney for the Southern District of New York charged Walters in 2016 over a series of trades involving Fortune 500 company Dean Foods based on inside information fed to Walters by Dean’s former chairman Thomas Davis, who was heavily in debt at the time. Davis, who has yet to be sentenced, testified against Walters after striking a plea deal with prosecutors.

On Thursday, Castel called Walters’ scheme “amateurishly simple,” in part due to a detailed paper trail that led prosecutors right to Walters’ and Davis’ doors. Castel also claimed that Walters’ scheme was less to do with an actual need for cash, but rather because Walters viewed acquiring riches as “a way of keeping score.”

Castel said restitution and forfeiture will be determined at a later date, but denied Walters’ bid for bail while his attorneys file an appeal. Walters was ordered to surrender to federal authorities on October 10.

Walters was a notorious figure in Nevada sportsbook and international online sportsbook circles, to the point that 60 Minutes did a profile on his betting activity and tout services illegally piggybacked on his name to boost their business.

Walters’ attorneys had sought a one-year prison sentence, claiming that the 71-year-old suffered from poor health, but prosecutors filed papers last week noting that Walters had made 77 visits to a San Diego golf club in the past couple years, and played three rounds in just the last two weeks. “Since Walters’ age and health concerns are not so serious as to keep him off the links, they should not provide a basis to keep him out of jail.”

Walters is/was good friends with pro golfer Phil Mickelson, who, like Walters, is known to enjoy a wager. Mickelson was part of the original investigation into Walters’ trading activity but Lefty managed to wriggle free of prosecutors’ grip after agreeing to repay slightly more than $1m in profit and interest on the trades he made based on discussions with Walters.

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Vietnam urged to allow for sports activities betting amid strategies for Formulation one circuit in Hanoi


July 29, 2016

Vietnam urged to allow sports betting amid plans for Formula 1 circuit in Hanoi

Hanoi wants to make a Formulation one circuit in the funds of Vietnam. But to start with, the governing administration should lay the groundwork for the public acceptance of sports activities betting in the nation.

Vietnam urged to allow sports betting amid plans for Formula 1 circuit in HanoiAccording to quite a few Vietnamese new stores, the city has by now tapped a overseas team to perform a study whilst it phone calls for investment decision in the challenge.

But for the racing circuit to triumph, the governing administration demands to allow for sports activities betting in purchase “to gain far more from the sport of car or truck racing,” a resource common with the make a difference advised Tien Phong.

According to the formal, “People from around the globe, not just these in Hanoi and Vietnam, should really be authorized to location their bets. This will be a significant resource of money.”

Gambling, which include sports activities betting, is largely illegal in Vietnam, other than for a few foreigners-only casinos. The nation has been thinking about enjoyable its longstanding prohibition on sports activities betting but, whilst draft laws has been written, progress toward passing that laws remains glacially gradual.

Central governing administration spokesperson Kieu Dinh Thu was quoted by the Vietnamese information outlet that gambling remains to be a “sensitive problem,” specifically given that any “changes to existing regulations will have to be submitted to and authorised by best policymakers and lawmakers.”

In 2005, Hanoi officers prepared to open a horse racetrack in the Soc Son District, but the city’s Uk trader pulled back again from the challenge in 2007 right after learning that betting would be limited to these in just the venue.

A Formulation one circuit, nonetheless, is not Vietnam’s to start with foray into racing tracks. In March, the nation opened its to start with expert track for automobiles and bikes in the province of Prolonged An, located 30 kilometers from Ho Chi Minh Town.

Named HappyLand, the circuit was created on an space of 139,000 sq. meters close to the Vam Co Dong River. It is capable of web hosting of up to 12 racing groups for automobiles, bikes and bicycles.



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Vietnamese on line gambling internet site uses Facebook Are living movie to lure clients


July 15, 2016

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vietnam-facebook-live-online-gamblingA Vietnam-facing on line gambling internet site is working with the Facebook Are living streaming company to market place its wares to punters.

In accordance to a report by Zing.vn, a Facebook admirer web page named Co Bac Vip (VIP Gambling) not long ago streamed a 45-moment movie of a woman in what seems to be an on line gambling stay vendor studio taking part in the preferred Vietnamese xoc dia video game, in which coin-formed tokens are shaken in a bowl, which is then inverted, revealing the fortunate (or not) end result.

The movie was performed in a loop all working day, attracting around 54k views and two,a hundred reviews. The web page incorporated back links that took end users to Cobacvip.com, an actual on line gambling internet site where players could wager genuine cash on xoc dia and other on line casino video games or bet on sports activities.

Casino gambling is unlawful in Vietnam, except you are a overseas vacationer or a Vietnamese citizen keeping an global passport. The authorities is toying with the thought of comforting these limitations, but they’ve been saying that for a whilst, and right up until that happy working day comes, regional residents’ only selections are underground gambling dens, casinos found throughout the border in Cambodia or internationally licensed on line gambling internet sites.

On-line sports activities betting is also unlawful, a point underscored by a lot of busts of internet sites taking wagers on the Euro 2016 soccer match. The most popular bust observed 23 people today detained for their connection to a ring that managed around $340m in soccer wagers.

The site’s ringleader managed to evade the authorities’ grasp right up until this week, when forty three-yr-aged Bui Quang Duong was arrested in Hai Phong. Thann Nien News quoted law enforcement saying that when Duong learned of his henchmen staying arrested, he fled by boat to a smaller town in Quang Ninh province. Recognizing the inevitable, law enforcement say Duong has admitted his guilt.

Vietnam’s Penal Code imposes harsh penalties on betting organizers, but bettors are matter to in the same way harsh penalties primarily based on the measurement of their wager. For bets below VND 50m ($two,240), bettors experience fines of VND five-50m and jail terms of 3 months to 3 several years. Wagers higher than VND 50m will land you in jail for two to 7 several years.



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Brooklyn DA busts “billion dollar” unlawful on the net betting ring


June thirty, 2016

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pay-per-head-betting-ring-bustThe Brooklyn district attorney’s business office has damaged up what it’s calling a “billion-greenback sporting activities gambling ring” that utilized password-safeguarded internet websites and a Costa Rica-dependent ‘wire space.’

On Thursday, Brooklyn DA Ken Thompson declared a 57-count indictment in opposition to four individuals – including the alleged ringleader, California resident Gordon Mitchnick – who are experiencing up to 25 yrs in jail if convicted of the primary charge of organization corruption.

Thompson stated the ring operated by using toll-cost-free cell phone quantities and a number of ‘pay for every head’ internet websites, including wagerabc.com, thewagerspot.com and hustler247.ag, through which buyers could take care of their wagering exercise but all financial transactions have been processed in human being like conventional credit rating betting functions.

The ring experienced a client checklist that numbered in the hundreds, and Thompson stated the web pages taken care of $927m really worth of wagers during the 2015 NFL period. Mitchnick used a variety of methods of laundering the ring’s betting proceeds, including obtaining about twenty houses.

The ring experienced a monthly overhead of $200k during peak betting period, a great deal of it likely to operate the Costa Rica-dependent wire space. Mitchnick is stated to have communicated with his Costa Rica staff members by using e-mail, textual content messages and the WhatsApp messaging provider.

Fellow defendant Joseph Schneider consolidated his individual impartial betting operation with Mitchnick’s in April 2015, for which Schneider obtained payments of up to $30k for every month during peak betting period. The two other defendants – Arthur Rossi and Claude Ferguson – acted as master agent and ‘runner,’ respectively.

In addition to the organization corruption charges, the accused are charged with very first-degree endorsing gambling, second-degree possession of gambling information and fifth-degree conspiracy. Mitchnick’s bail was established at $2m, Schneider’s at $500k, even though the other two bought off reasonably easy at $50k.

Thompson called the unlawful betting bust “possibly the greatest one particular ever to be dismantled by a community prosecutor’s business office.” This is the second main bust in as many months for Thompson, who just lately dismantled an additional Costa Rica-dependent shell out for every head operation that taken care of $thirteen.2m in wagers in 6 months.



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NHL’s Las Vegas growth has Canadian athletics betting backer dropping the gloves


June 23, 2016

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nhl-las-vegas-sports-bettingLas Vegas popped its important league athletics cherry on Wednesday soon after the Nationwide Hockey League verified it would be expanding to the Nevada city in time for the 2017-18 year.

The NHL experienced only two contenders for its very first growth given that the calendar year 2000 – Vegas and Quebec Metropolis. The former city has been hungering for some important league attention for many years although the latter city has under no circumstances seriously gotten more than dropping their Nordiques to Colorado in 1995.

Speaking at a press conference on Wednesday, NHL Commissioner Gary Bettman said Vegas acquired the nod in element owing to “fluctuation of the Canadian greenback,” the value of which experienced at periods this calendar year sunk as lower as 68¢ on the US greenback. Due to the fact participant salaries are paid out in US pounds, Quebec’s Canuck-buck ticket price ranges would have to be established sky-significant to balance the guides.

Vegas experienced its personal hurdles to crystal clear, in individual, the perception that a pro athletics team experienced no organization taking part in in the only US condition in which athletics betting is legal simply because, er, well, it is not rather crystal clear why, given that betting goes on everywhere you go irrespective of its legality.

Bettman said that he did not perspective the Vegas growth as a “bellwether day” for US athletics betting and the league wasn’t going to “make it all that easy for you to select up a ticket, a gambling ticket, on your way into the [T-Mobile] arena.”

There are no recent options to set betting kiosks in the arena but admirers can effortlessly obtain any variety of Nevada-certified cell sportsbooks from the ease and comfort of their arena seats. The NHL has the alternative of inquiring Nevada gaming regulators to ban betting on the as-nevertheless unnamed franchise, but Bettman supplied no sign as to whether or not the league would exercise this alternative.

1 calendar year ago, Bettman told Rogers Sportsnet that the league did not want the admirers at its game titles to be “rooting for something other than the team that they adore … to acquire. We really do not want there to be another agenda.”

CANADIAN MP SLAMS NHL’S “COMPLETE HYPOCRISY”
When the NHL has embraced day-to-day fantasy athletics, it sided with the other a few important pro athletics leagues in opposing New Jersey’s lengthy-managing quest for legal athletics betting. The NHL has also opposed numerous attempts by Canadian politicians to go one-sport athletics betting legislation.

On Thursday, Brian Masse, the Canadian MP who introduced the most latest of individuals legislative attempts, tore a strip off Bettman and the NHL for “moving into the lion’s den of athletics betting across the globe” although continuing to oppose his C-221 betting bill.

Masse told the CBC that the Vegas growth was “a complete betrayal of Canadians,” given that the NHL experienced beforehand recommended it would withhold growth franchises from Canadian metropolitan areas if parliament approved one-sport athletics betting legislation.

Masse said the NHL experienced “turned their backs, thumbed their nose and stuck out a finger at legislators below in Canada, simply because they are executing this in Vegas and perpetuating their personal revenue at the expense of Canadian hockey.”



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