Poker Pro Cory Zeidman Pleads Guilty in $25M Sports Betting Fraud Scheme

Zeidman admitted to defrauding bettors with false claims of insider information over a 14-year scheme and faces up to 20 years in prison.

Cory Zeidman, a professional poker player and 2012 World Series of Poker bracelet winner, pleaded guilty to conspiracy to commit mail and wire fraud in a $25 million sports betting scheme.
The scheme, which ran from 2006 to 2020, used fake organizations and national radio ads to lure victims with promises of insider information on fixed games and injury reports.
Zeidman and his associates charged exorbitant fees for fraudulent betting advice, falsely claiming their information made gambling risk-free.
As part of his plea agreement, Zeidman agreed to pay $3.7 million in restitution and faces a maximum sentence of 20 years in federal prison.
The case highlights the growing risks in the sports betting industry, which has expanded significantly since the 2018 legalization in many U.S. states.