Yale Student banned for beating sports.

https://www.ctpost.com/news/article/Meet-the-Yale-medical-student-who-made-thousands-17619168.php?utm_campaign=CMS%20Sharing%20Tools%20(Premium)&utm_source=t.co&utm_medium=referral

If only he had limited himself to one unit per day....

:) :)

As always from stories like this we are missing key information. WHY is he banned from on premises sports books but not their online versions? Sounds like he took a few years off from Jed school to do this. I’d guess he made 7 figures. I think it said he had even hired someone?

Betting limits at kiosks? What is that, and who cares?

For travelers: the TSA may impose a $15,000 fine for getting your gun confiscated at the airport.

My friend is the #2 guy for the OTB’s in Connecticut. The lottery runs the Sportsbook in the OTB, the OTB just gets a small percentage. He got kicked out by the lottery officials. Suspicious wagering activity, money laundering etc. he would bet at the teller and kiosk BUT would have other people cash out the winning’s including the W2G’s. He would also involve his employees in one way or another.

Quote: SOOPOO

As always from stories like this we are missing key information. WHY is he banned from on premises sports books but not their online versions? Sounds like he took a few years off from Jed school to do this. I’d guess he made 7 figures. I think it said he had even hired someone?
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So that the State of Connecticut can no-pay him and make up some rule that justifies it.

Quote: SOOPOO

As always from stories like this we are missing key information. WHY is he banned from on premises sports books but not their online versions? Sounds like he took a few years off from Jed school to do this. I’d guess he made 7 figures. I think it said he had even hired someone?
link to original post

I was wondering that myself.
1)Perhaps the lines are different.
2) They can restrict and limit his bets.
3)They know exactly what he's betting, how much he's making, the when, where, etc without having to use surveillance. He can't hand tickets to someone else to cash or anything like that.
4)Less work for employees.

I was thinking the simple solution would be for him to have others make bets for him but apparently, that's illegal.
He could get around that by just charging certain people a fee, classes, or with some type of guarantee and rebates or whatever it takes so people are not actually making bets for him yet he is profiting from the bets.

the article says he has made thousands, but who knows, it might be 10 thousand total and it's not even worthwhile.
It seems that if it was a significant advantage and worth enough he wouldn't have made it public and he would've just figured a way around it.

They just might not have liked the fact that it seemed as if he was part of something bigger or money laundering, and structuring. Perhaps he was just cashing so many tickets and it was annoying them. Better safe than sorry type of thing.

Quote:

"For all intents and purchases, I am a leech on the system," he said of his sports betting exploits. "I don't generate any social value for anyone involved anywhere. This is the most selfish professional thing I have ever been involved with, and that doesn't sit well with me."

this guy understands why regulators make/want APs to be illegal - gambling is supposed to create value for the communities around them and APs to them are removing that value

Quote: BillHasRetired

Quote: SOOPOO

As always from stories like this we are missing key information. WHY is he banned from on premises sports books but not their online versions? Sounds like he took a few years off from Jed school to do this. I’d guess he made 7 figures. I think it said he had even hired someone?
link to original post

So that the State of Connecticut can no-pay him and make up some rule that justifies it.
link to original post

Title 31 / Money Laundering suspicion is reason enough to ban someone.


ZCore13

Quote: Zcore13

Quote: BillHasRetired

Quote: SOOPOO

As always from stories like this we are missing key information. WHY is he banned from on premises sports books but not their online versions? Sounds like he took a few years off from Jed school to do this. I’d guess he made 7 figures. I think it said he had even hired someone?
link to original post

So that the State of Connecticut can no-pay him and make up some rule that justifies it.
link to original post

Title 31 / Money Laundering suspicion is reason enough to ban someone.


ZCore13
link to original post

‘Suspicion’ should never be reason to ban someone. Proof should be reason to ban someone. I guess suspicion could reasonably result in a temporary suspension, while evidence is analyzed, but not a lifetime ban.