According to court records, Zeidman led a fraud ring that sold betting tips via radio ads followed by high-pressure sales. The group used fake names. It also purported to have inside information about “dirty” officials, “fixed” games and predetermined outcomes, according to a press release from the US Attorney’s Office for the Eastern District of New York.

No sentencing date has been set.

Bettors were charged high fees for the service and were told that the information made wagering a low-risk proposition. According to the US Attorney’s Office, the information was made up or was public information found via internet searches.

“As alleged, Zeidman preyed on individuals who were led to believe he had inside information that would lead them to easy money. In reality, he was selling nothing but lies and misinformation. Bilking millions from victims along the way, leaving their lives in financial ruin and their bank accounts empty,” Homeland Security Investigations New York acting special agent in charge Ricky J. Patel said when Zeidman was indicted in May 2022.

US Attorney: Victims were ‘baited’

Zeidman’s organisation lured in bettors in New York and Florida, according to court records.

Today, Zeidman pled guilty in federal court in Central Islip. Ziedman currently lives in Boca Raton, Florida, but is a former Long Island resident. He was a 2012 World Series of Poker bracelet winner. He used more than a dozen aliases and at least three fake company names in the scheme.

According to Poker News, Zeidman’s group took in $25 million in fees between 2004-20.

“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,” US Attorney for the Eastern District of New York Breon Peace said in a press release. “Today’s guilty plea sends a message to all of those who would prey upon the public by falsley 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.”

The Eastern District Office is also prosecuting the Jontay Porter sports betting scandal. In that case, the former NBA player conspired with four others by agreeing to leave Toronto Raptors games early. By doing so, the bettors could win their “under” bets. Porter pled guilty in July and is set to be sentenced 18 December in the Eastern District’s Brooklyn court.

Zeidman was indicted months after digital sports betting went live in New York, and before it was legal in Florida.