Cory Zeidman Pleads Guilty to Sports Betting Fraud Scheme

Former WSOP bracelet winner Cory Zeidman has admitted guilt in connection to a $25 million sports betting fraud scheme. The 64-year-old poker pro, who was once celebrated in the poker community, has now become a cautionary tale of deception and greed. His involvement in this large-scale operation exploited vulnerable individuals seeking insider tips on sporting events.

Details of the Fraud

Zeidman’s scheme, operational between 2004 and 2020, revolved around fraudulent claims of having “privileged” information on sports outcomes. These false promises, primarily advertised via radio commercials, lured victims by guaranteeing substantial returns on their investments. However, most of these so-called insider tips were fabricated or drawn from publicly available information.

Clients paid hefty fees under the impression that they were engaging in secure betting opportunities. Instead, they were systematically defrauded, with the operation generating millions of dollars for Zeidman and his associates.

The Investigation and Guilty Plea

In May 2022, Zeidman’s fraudulent activities came to light when he was arrested. Initially maintaining his innocence, he even quoted Friedrich Nietzsche, portraying himself as a victim of overzealous authorities. Despite his declarations of moral integrity, mounting evidence led him to plead guilty in October 2024 to charges of conspiracy and wire fraud.

The plea was entered in the United States District Court for the Eastern District of New York, marking a significant shift in his defense strategy. His legal team acknowledged the overwhelming evidence against him, leaving no viable alternative.

Sentencing and Fallout

While sentencing has yet to be finalized, Zeidman faces a potential 20-year prison term and restitution payments amounting to $3.6 million. His arrest and subsequent plea have not only tarnished his reputation in the poker world but also ended his career as a respected player. He has since refrained from participating in live tournaments, though reports suggest he continues to play in smaller cash games in Florida.

Zeidman’s case underscores the dangers of greed and deceit, even in a community as tight-knit as the poker world. His fall from grace serves as a reminder of the importance of ethical conduct both at and away from the tables.

For more updates on this case and other poker-related news, stay tuned to PokerNews.

FAQ

Does counting cards in blackjack really work?

As each card is dealt, you adjust your running count up or down based on this system. The idea is simple: low cards are more beneficial to the house, while high cards increase your chances of landing a blackjack or a strong hand. When your count is high, it means the deck is rich in high cards, giving you an edge.29 ต.ค. 2567

How do you count cards in blackjack basic strategy?

Assign a blue of +1 or -1 to each card dealt. If you see a 2, 3, 4, 5, or 6, add 1 to the total. If you see a 10, Jack, Queen, King, or Ace, subtract 1 from the total. If you see a 7, 8, or 9, the total remains the same. This counting technique is known as “Hi-Lo”.

How did the introduction of online casinos impact the game of roulette?

How did the introduction of online casinos impact the game of roulette? The introduction of online casinos has had a significant impact on the game of roulette. Online casinos made roulette and other casino games easily accessible to anyone with an internet connection. Players can now enjoy their favorite casino games from the comfort of their own homes, without having to travel to a land-based casino. Online casinos also introduced new variations of roulette, such as multi-wheel roulette and mini-roulette, which are not typically found in traditional casinos.

Where is WPT Global legal

Players in more than 100 countries can play at WPT Global. WPT Global operates in various jurisdictions where online poker is regulated and legal. Typically, it is available in regions such as: 1.Canada 2.United Kingdom 3.European Union countries (specific nations may vary) For the most accurate and up-to-date information, it’s best to check WPT Global’s official website or consult local regulations regarding online gambling in your area.

Can you win blackjack with just basic strategy?

Yes, it is possible to win at blackjack without counting cards. Players can increase their chances of winning by using basic strategy, which involves making mathematically optimal decisions based on their hand and the dealer’s visible card.7 Aug 2022

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