Gambling Scandal Involving NBA and Mafia - The FBI charged over 30 people, including NBA stars and coaches, in connection with wire fraud and money laundering related to sports betting and rigged poker games [1] - Two separate schemes were identified: "Operation Nothing But Net," a criminal sports betting scheme, and "Operation Royal Flush," involving the mafia and rigged poker games [1] - Rigged poker games utilized advanced technology such as marked cards, x-ray tables, rigged shuffling machines, and hidden cameras [1][2] - Four of the five New York mafia families were allegedly involved in coordinating and protecting the rigged poker games, using threats to secure debt repayments [1] - The illegal poker ring involved approximately $7.8 million in cash [1] NBA Players' Involvement - NBA Hall of Famer Chanty Bilips and Miami Heat star Terry Rosier were placed on immediate leave after their arrest [1] - Bilips and former NBA player Damon Jones allegedly lured wealthy players into rigged poker games [1] - Terry Rosier is charged for his role in a criminal betting scheme, accused of tipping off others to place bets on his stats after leaving a game early due to injury, generating tens of thousands of dollars in profit [1] Mafia's Role and Technology - The mafia has scaled back to gambling due to less severe penalties compared to violent crimes [1] - The mafia is utilizing advanced technology in gambling schemes, employing experts to create rigged systems [2] - The involvement of four mafia families indicates a large-scale operation with significant money involved [2] Legal and Investigative Aspects - The investigation originated in the Eastern District of New York [2] - Authorities have been investigating the case for years, gathering communications and information from victims [2] - Law enforcement is believed to have a good handle on the mafia with informants providing regular information [2][3]

Legal & Compliance - Two major fraud cases are announced, one involving sports betting and the other involving illegal gambling [1] - The indictments contain only allegations, and the defendants are presumed innocent until proven guilty [4] Sports Betting & NBA - A sports betting corruption scheme exploited confidential information about National Basketball Association athletes and teams [2] - The scheme is described as one of the most brazen sports corruption schemes since online sports betting became widely legalized in the United States [1] Illegal Gambling & Poker - A nationwide scheme to rig illegal poker games involved 31 defendants [2] - Millions of dollars were stolen from victims in underground poker games that were secretly fixed using high-tech cheating technology [2] - The games in the New York area were backed by the Banano, Gambino, and Genovves crime families of Lazinostra [3] Individuals Involved - Three overlapping defendants are charged in both cases: Damon Jones, Eric Ernest, and Shane Hennan [3] - Former professional athletes are among the defendants involved in the illegal poker games [2]

Uh first off, what are the facts as we know them? >> Okay, so two different investigations. One that involved the Trailblazers head coach uh Chanty Bilips was about illegal poker and organized crime. Basically, they'd set up these poker parties in Manhattan. They were using modified card shuffling machines and uh they were cheating and cameras and the desks and things like that. They were bilking unsuspecting gamblers out of millions and millions of dollars. And they say that the head coach as well as Rosie ...

NBA Impact - The NBA faces a catastrophic situation following the indictment, potentially overshadowing positive developments like a player's performance [18] - The league's involvement with sports betting companies is under scrutiny, with potential consequences arising from this association [19][20] - Insider information on prop bets undermines the fairness of the sport, which is devastating to fans [27] - The controversy could damage the NBA's reputation, especially during what has been a successful period under Adam Silver's leadership [28][29] Investigation Details - The investigations involve high-profile NBA figures like Terry Rozier and Chanty Billups [2][3] - Illegal poker games used advanced technology, including card shufflers, special glasses, and an X-ray table, to cheat unsuspecting players out of millions of dollars [4][5][6] - Organized crime was allegedly involved in collecting debts from victims who wouldn't pay up [6] - Multiple law enforcement agencies, including the NYPD and FBI, collaborated on the investigations, spanning across the country [8][9][10] Legal and Ethical Concerns - The NBA is fully cooperating with the investigation, and the commissioner is expected to address the matter [7][8] - The case highlights the risks associated with legalizing sports betting, including potential gambling addiction among players [20][21] - There are concerns about the effectiveness of current mitigation efforts by sports betting companies in preventing fraud [22][23] - The involvement of organized crime makes the investigation and prosecution more difficult [13][14] - Terry Rozier allegedly bet over $200,000 based on inside information about his injury [11]

Prediction markets could 100x from here.They are a much better sports betting platform but they are not sports betting platforms.They are global markets about anything in the future.If sportsbooks are valued between 16 and $42 billion and that’s just sports, imagine everything else. ...

Key Topics - Discussion on markets, jobs report, and crypto impact is scheduled [1] - Conversation with @BunchuBets about Billy Bets, their $1 million raise, and AI x sports betting via prediction markets is planned [1] Company & Investment - Billy Bets secured $1 million in funding [1] - Billy Bets focuses on AI x sports betting via prediction markets [1] Event Details - Live show at 10 am ET [1] - Discussion includes sports prediction markets, market report, and daily news [1] - A giveaway is planned [1]

Over $12.5m in volume on the Kalshi Cowboys/Eagles market and the first quarter hasn’t finished yet.The feed constantly scrolling live bets placed is a nice touch for the mobile interface.Feels like a Trojan horse. Ppl already spend massive amounts of money and time on sports betting…live lines via “prediction” markets make this even more accessible.Wouldn’t surprise me to see this sort of thing in eventually integrated in the various streaming apps simply with one button for each team to allow ppl to seaml ...

NFL kickoff and this is a huge opportunity for the nation's sports books in terms of winning new customers and growing the wagering pool. We're at the Bank of America Gaming and Lodging Conference in New York City and with me is DraftKings CEO Jason Robbins. Give me a sense of how big an opportunity it is when we start seeing pro football and college football for that matter kicking off again.Well, this is the biggest time of year for us, as you said, for acquiring customers, engaging our customers, you kno ...

In the world of sports betting, “player prop” wagers are raising concerns about integrity https://t.co/UPYSQhDdg0 ...

Financial Performance - DraftKings reports an impressive quarter with revenue growth accelerating to 37% and better-than-expected earnings [1] - The company achieved a record adjusted EBITDA quarter, more than double its previous highest [4] - DraftKings sees revenue near the high end of its guidance range [2] - The company's revenue exceeded $300 million for the first time [5] Business Growth & Strategy - DraftKings is experiencing growth and is starting to make real profit [6] - The company has an increase in year-over-year players and spend per player [7] - DraftKings views daily fantasy as clearly legal under California law and will work with regulators [15] - DraftKings is working with congressional members to address gambling tax implications [17] Market Dynamics & Future Outlook - The Eagles are the second most bet-on team, just behind the Lions [8] - Someone placed a $25,000 bet on the Raiders to win the Super Bowl with a $25 million payout [9] - The industry anticipates that most states will eventually legalize sports betting [19][21]