Screen shot 2012-06-27 at 10.48.54 AM
| By | 3115 Views

The Internal Revenue Service (IRS) busted a Dallas area sports betting ring that was handling $1 billion in illegal sports bets per year in one of the largest cases of its kind.

As with many illegal bookmaking operations, the Dallas-based betting operation used toll-free numbers and websites that funneled clients’ betting activity to a Caribbean island; in this case, the island of Curacao. The volume of calls handled was remarkable: 20,000 during the average month and up to 35,000 during the peak betting months. One of the primary websites used was DMNonthenet.com.

 

Government investigators claim there are 22 individuals behind the sports betting ring which was allegedly netting $50M per year from the $1 billion in bets. That’s a handle (or win) rate of 5% which is typical for legal sports books like those in Nevada.

The IRS has seized property from more than a dozen suspects including jewelry, silver bars, gold coins, nearly a million dollars in cash, computers, a Rolex watch and. . . wait for it . . . an autographed Pete Rose jersey.

 

 

Name:
Email:
Site:
Comment:

XHTML: You can use these tags: <a href="" title> <abbr title=""> <acronym title> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

twitter birdie