The agreement will be beneficial to both parties, and Cryptologic will earn revenues based on wagers placed on the games. Following the announcement, the online casino pro shares jumped considerably.
CryptoLogic Limited, an international developer of online casino games and software, just signed a multi-year agreement to license five or more of its best casino games to BetClic, a major European internet sportsbook.
This agreement covers a few of online casino pro CryptoLogic’s best online slot games, which will soon be featured on BetClic’s Games website. The games will be integrated with the help of Gaming Technology Solutions plc, CryptoLogic’s technology platform provider.
President and CEO of CryptoLogic Brian Hadfield said, “The popularity and demand for our industry-leading games remains strong as evidenced by this latest agreement with BetClic, a fast growing European operator. As each new licensee launches our games, we add a new and recurring revenue stream to our business while providing enhanced value and user experience for our partners’ customers.”
Nicolas Beraud, CEO of BetClic, announced, “We are excited about the prospect of adding quality branded content to our current portfolio. CryptoLogic games are instantly recognisable and are developed to the highest industry standards. This partnership further enhances our commitment to offering the best gaming experience to our diverse customer base.”
Cryptologic, a Dublin-based company specializing in online gaming software, is about to sign a deal with Betclic, global online sportsbook operator, and will soon be launching a series of new games in partnership with DC Comics and Paramount Digital Entertainment.
They expected to announce this week that the Malta-based online sports betting company Betclic will soon offer Cryptologic games on the casino portion of their website.
Betclic is primarily focused on sports betting, especially football. The group has businesses in 15 countries and caters to around 1.5 million customers. Betclic is working to develop its casino and poker casino offerings, which have become a standard part of online gambling sites.
Cryptologic has partnerships with DC Comics and Paramount Digital Entertainment (a parent company of Paramount Pictures), and develops games using characters owned by these groups, including Superman and Braveheart.
Shares in online gambling software and games developer CryptoLogic soared after an announcement that they have signed a licensing deal with BetClic, a major European online sportsbook. Betclic will license at least five games from CryptoLogic. This deal will provide recurring revenues for online casino pro CryptoLogic because income is to be based on all wagers placed on the games.
CryptoLogic reported a significant decline in revenues from $50.2m to $29.9m in the nine months prior to September 2009. The loss more than doubled, jumping from $6.48m to $13.5m. The decline was blamed on licensees acting too slowly in launching new games.
CryptoLogic shares are traded on the TSX, Main Market, and Nasdaq. The current online casino pro is half what it was in the middle of September.
It is fashionable to speak of “dynasties,” i.e. multiple repeat title-winners, in many sports these days, but perhaps no championship is so susceptible to dominance by a single force as the Tour de France. The latest mighty ruler over the sport is this year’s winner Alberto Contador of Spain, who overcame Andy Schleck to take his third Tour in four years – and his third in three tries.
Though Contador managed to sport the yellow jersey from Stage 15, it was hardly easy going for the back-to-back champion. In Stage 3, Contador went down among the peloton in crash that would remove Frank Schleck from the competition altogether and set back the Spanaird’s chances for some time.
But Contador had been there before and he slowly chipped away at Andy Schleck’s lead, which the youth rider had regained in Stage 9. Stage 15 was key in the 2010 Tour de France and in fact Contador invited controversy when he forewent certain unwritten rules of sportsmanship to blow past Schleck as the chain on Schleck’s bike fell out. Though Contador apologized after the race, some former cyclists including Miguel Indurain came to his defense.
Schleck would fight back and take Stage 17, but since Contador finished mere seconds behind in the stage, it made little difference. At the end of Stage 19, Contador had built up a lead of 39 seconds and held that difference through Stage 20 for his second consecutive Tour de France win.
Contador now joins recent superstars such as Greg LeMond (Tour de France winner in 1986, ’89 and ’90), Indurain (’91 through ’95) and Lance Armstrong (’99 through 2005). The next dynasty may be Schleck’s, as the 25-year-old Luxembourger has now won three straight youth rider titles on the Tour de France.
In terms of odds, the bookmakers were again prescient, as the 4/7 odds on Contador held against Paddy Power’s proposition bet offering a 5/4 line on “the field.” In 19th place, John Gadret ended up the top Frenchman, a surprise to bookmakers who had him at 15/2 odds to be the tops from France in the race.
Mike McNally, a 29-year-old business graduate and football fan from Bradford, England, turned a £10 bet into £650,000 ($1 million) betting on World Cup at a popular online sportsbook in the UK. McNally correctly predicted the results of an incredible 36 out of the 64 matches of the 2010 World Cup, beating hundreds of other football fans from around the world who also entered the contest.
The win wasn’t secured until the final match. McNally and another participant were tied 35-35 until the Holland and Spain match. McNally picked Spain to win, while his rival had put his money on Holland. McNally must have been on the edge of his seat during the entire match, only relaxing after Andres Iniesta’s extra time goal for Spain put him in the lead.
“I was speechless when I learned I’d won,” McNally revealed. “I just wish England could have performed as well as I did.”
Punters who missed wagering on this year’s World Cup may feel left out after learning about McNally’s success, thinking about all the 2010 World Cup bets they could have made. This big football tournament series won’t be back until 2014, but in the meantime, there are thousands of bets offered every day at sportsbooks across the internet. Just check out the latest online sports betting odds, then put your money down to win.
While the final result and the final match of the 2010 FIFA World Cup wasn’t highly unexpected, the relative lack of clear-cut favorite throughout the tournament made for some big payouts for punters who bet correctly.
To start the tournament, Spain was a favorite at every sportsbook: The only variable were the odds, which ran at 4/1, 9/2 or 5/1. That’s at least $500 on a $100 bet just for picking the no.1 ranked team in the world going into the tournament. Even with eight teams remaining, Spain was still getting 11/4 odds at PaddyPower – a potential $375 more on a $100 wager.
Ladbrokes Sportsbook had finalists Spain and Holland at 2/1 and 13/2 to make the final match when the World Cup began. A $50 bet on each there earned clever bettors a total of $525.
As for individual matches, the biggest money was predictably made betting against the powerhouses. Those foolhardy enough to have wagered on Switzerland to beat Spain in their first game got odds of 11/1 at Brobury Sports for a huge $1,200 on $100 invested. And despite the terrible morale on Team France going into their third game, a South Africa win was still getting 11/5 odds at PaddyPower, for another $320 on $100 when the host nation defeated the champions of 1998.
Probably the biggest loss in the tournament was suffered by a bookmaker. Paddy Power had installed a money-back special for the World Cup, in which certain wagers would be returned on a 0-0 draw. England-Algeria in group play ended at 0-0 with millions bet by British punters and a sizable fraction returned on what normally would have been profit for the bookmaker.
But on our wagers, we just turned $500 into $2,920. See? Betting on the World Cup is easy. Good luck in 2014!
Would you believe that, with the 2010 World Cup, Wimbledon and Major League Baseball all in full swing, one of the most popular wagers on the Internet was on a grass-court tennis tournament in Rhode Island?
Neither does the Tennis Integrity Unit (TIU), an independent investigative body, which has ordered an investigation into a match between Richard Bloomfield of Britain and Belgium’s Chistophe Rochus in which $1.5 million was wagered on Bloomfield at Betfair online sportsbook. Betfair reported the irregular activity to the TIU and is expected to hand over information on the specific bets made on Bloomfield.
Bloomfield began the Newport Hall of Fame grass-court tournament ranked no. 552 in the world, while Rochus was at no. 160. Bloomfield was getting odds of 1:1 to win the best-of-three set match the day before, but just hours before first serve, those odds had shrunk to 1:4. After taking the first set and live odds betting continuing to roll in, Bloomfield had odds of 1:8 on him.
Betfair spokesman Tony Calvin later explained to Associated Press reporters that “If people are willing to risk £4 pounds to win £1, that is indicative of a substantial gamble.”
No official word has been released on how much the “lucky” punters who backed Bloomfield won from Betfair, but estimates say it’s $600,000 minimum.
Bloomfield won the contest in two sets and is not suspected of any wrongdoing, despite a 2006 investigation in a similar situation – he won that match, too. “I don’t know what to say,” said Bloomfield. “I know England’s a big betting nation. It seems like every time I win a decent match, [controversy] comes up.”
One serious longshot and one dark horse remain among the 2010 World Cup final four, and if one of these two wins a few lucky punters will get some nice returns indeed. Even if the more highly regarded Holland or Spain hoists the Cup for the first time, though, the results will still be nice indeed for some.
Anyone with foresight enough to have bet on Germany at the start of the tournament is feeling pretty good right now. Now the hottest team left, BetUS was typical and offered a line of 14/1 on the Germans to win this thing – and eight goals in the past two games say they’ve got a shot. A $20 bet at BetUS Sportsbook in June could be worth a cool $280 on Monday.
Uruguay is the other surprise remaining in World Cup betting. Not only would a Uruguay victory in the championship represent the biggest upset ever, a mere $20 bet placed at Ladbrokes in early June will be worth a crazy $2,500.
As said before, either Holland or Spain will pay well in what was a fairly open tournament from the go with no true consensus favorite: Just last week, Netherlands was still getting 15/2 odds at BroburySports. Those doing their World Cup football betting at Bodog would have gotten 5/1 on Spain through most of the tournament.
Whoever wins the 2010 World Cup, two things are certain: This has been a great one, and some clever punters are going to be very happy with their sports betting expertise.
This Saturday, May 22, the Irish Pole Dancing championships will see the most flexible women from the north and south of the Emerald Isle battle for supremacy in a very unique (and very artistic) national competition. The event is heralded as a “celebration of fitness,” bringing together professional dancers from Ireland’s best pole schools to compete against one another and to show the world what they’ve got.
The dancers in this event are athletes. According to the event’s Facebook page, these ladies are working to get rid of the “sleazy stripper stigma” that is often attached to pole dancing, instead emphasizing the fitness side of things. This year’s Championships even offer a charitable twist: all money raised from during the competition will go to Crumlin Children Hospital in Dublin.
Paddy Power, Ireland’s top online sportsbook, is offering wagers on all three levels of competition: Beginners, Intermediate, and Advanced. All wagers are outright win only, and odds are offered on all the dancers competing in each league. Only singles are offered outright, but according to the sportsbook’s website, other bets are available on request.
Paddy Power Sports is professional-quality internet betting that has been around for almost 20 years. Their event coverage is outstanding, offering bets on everything from football and cricket to darts and snooker. They are even running a special promotion on Volcano Betting, where players can wager on what dates Heathrow will be closed because of volcanic ash!
Visit Paddy Power today to put money down on your favorite girl for this year’s Irish Pole Dancing Championships. May the best pole dancer win!
This Philippines pride is the best fighter alive today, compared to the likes of Muhammed Ali, Sugar Ray Leonard, and Marvin Hagler. Amazingly, Manny has won seven titles in seven different divisions.
Also known as the “king”, Mayweather has a stunning 40 wins by knock out and absolutely no losses. A fight between Pacman and the King would certainly be entertaining (see below).
Originally from sunny Pomona, California, Mosley has won titles in three weight divisions. He is also former WBA Welterweight Super Champion.
At 6 feet 2 inches tall, Paul is a giant for his junior middleweight, middleweight and welterweight divisions that he is a part of. For his quick, deadly punch Williams is dubbed as the most “avoided fighter in the world”.
This Mexican professional boxer is the current Lightweight World Champion. Pound-for-pound, Juan can take on anyone.
For betting on boxing matches check out these top sportsbook reviews
Team: Minnesota Vikings
Team: Tennessee Titans
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Team: Baltimore Ravens
Team: Arizona Cardinals
Team: Minnesota Vikings
Team: New England Patriots
Team: San Francisco 49ers
Team: Indianapolis Colts
Team: New York Giants
Police have shut down a pair of illegal internet gambling websites that are said to have been generating a turnover of $50,000 daily. One man, a recruiting agent, was arrested and several pieces of evidence were taken from his home. It is believed that the administrator of the sites fled the country, but police are hoping they will find enough evidence to track him down.
Antara News Indonesia: Police arrest int`l gambling syndicate agent
Jakarta police have arrested an agent of an international online gambling group operating illegally out of Indonesia. Authorities say he was earning as much as Rp15 billion (almost $2 million) per month from the business.
“As an agent the suspect`s turnover reaches Rp500 million a day. The police are still searching his boss abroad,” said Jakarta Metropolitan Police spokesman Senior Commissioner Boy Rafli Amar.
Boy said police have been investigation the gambling operation for the past month. The suspect was involved in operating two unlicensed gambling sites, offering casino games like roulette, baccarat, and poker, along with limited sports betting facilities.
The suspect admitted to working as an agent for the gambling, receiving a monthly salary of Rp7.5 ($1 million). Police are now examining bank statements and other documents in hopes of tracking down the leader of the operation.
During the raid, police confiscated a laptop, a book of financial records, four mobile phones, bank documents, and Rp495 million ($50,000) in cash. The two gambling websites have since been shut down.
Tempo Interactive: Jakarta Police Crack Down Online Gambling Sites
Jakarta police just cracked down two illegal internet gambling websites operating out of Jakarta, offering several different types of gambling and bringing in a daily turnover of around Rp500 million.
A spokesperson for Jakarta Police Senior Commissioner Boy Rafli Amar said in a press conference on Tuesday that two men were arrested at a house in the Villa Kapuk Mas complex, which police have been watching in a stakeout since early April.
One of the men arrested were an agent for the gambling site, and the other was a player. Evidence taken from the house included a laptop, transaction notes, bank, and Rp495 million.
It is believed that the actual administrators of the websites have fled overseas.
The Jakarta Post: Police bust suspects in online betting
Police in Jakarta announced on Tuesday that they had arrested a man suspected of helping to operate two illegal online gambling sites that were generating daily revenues of Rp 500 million (US$55,500).
City Police spokesman Sr. Comr. Boy Rafli Amar said the suspect, who they are calling ‘Benny’, worked as an agent, bringing new customers to gamble at the websites. The sites provided a wide range of online gambling options, including online sports betting, roulette and poker games.
“However, the owner of the sites has apparently managed to escape overseas,” Boy told reporters.
UK bookmaker and online gambling operator William Hill made a $130 million takeover offer to Centrebet, one of the first licensed sportsbooks in Australia. Both parties insist that talks are preliminary, though it has been said that William Hill executives are now in Australia looking over Centrebet’s operation. The move seems to be part of William Hill’s recent globalization strategy.
The Australian: UK group William Hill to bid $130m for Centrebet
UK online sportsbook William Hill is poised to offer £80m ($132m) for online gambling operator Centrebet International.
William Hill’s executives are said to be in Australia examining Centrebet’s operations. It is understood that the groups are still in discussions, with final offers not yet regarded as imminent. Other major sportsbooks like Ladbrokes are still in the running.
William Hill has said it is interested in expanding its operations offshore by increasing its online presence instead of going for land-based betting shops. Australia is seen as fertile territory for bookmakers looking to expand.
“William Hill, Ladbrokes and (British group) Coral are companies I would expect, whether it’s through acquisitions or starting up themselves, to look at entering the Australian market at some point in the next year or so,” says Betfair Australia chief executive Andrew Twaits.
Sky News Australia: William Hill to make offer for Centrebet
UK sportsbook operator William Hilll has offered to pay $132 million for Centrebet.
Australian newspaper The Sunday Times reports that William Hill executives are in currently Australia, examining Centrebet’s books as part of an ongoing negotiation.
In March, Centrebet announced that it had received a number of acquisition proposals and was considering them all.
It is believed that there are other gambling groups interested in acquiring Centrebet, including William Hill’s UK rival Ladbrokes and Austria’s BWin.
The draft recommendation to liberalise Australia’s gambling laws recently published by the Productivity Commission has boosted overseas interest in internet gambling in Australia.
The Sydney Morning Herald: Centrebet continues consolidation talks
The internet gambling and betting group Centrebet International Ltd is still in talks with other operators over consolidation opportunities.
“Whilst parties have expressed interest in exploring a variety of transaction structures, no terms, including as to price, have been agreed,” Centrebet said in a statement on Monday.
“Centrebet anticipates that these discussions may continue for some time.” The group also admitted that the talks are preliminary, and may not result in any formal proposal being made.
Centrebet revealed back in March that it had received takeover proposals in February, and that the proposals were confidential and non-binding. At the time, it was speculated that Ladbrokes, William Hill and Sportingbet were all in talks with Centrebet.
A massive online sports betting operation operating illegally out of New York, with ties as far afield as Costa Rica, has been taken down. A two-year investigation culminated last week in 38 arrests cross the US. Those involved are ring charged with money laundering, promoting gambling and conspiracy.
Fox News: Dozens Arrested in Sweep of Alleged $178M Online Gambling Ring
Bookmakers running a pair of online sportsbooks in the US accepted nearly $178 million in bets during the past three years said prosecutors on Wednesday after arresting 38 on corruption charges.
Those arrested are suspected money collectors, agents and bookies from Nevada, Louisiana, Florida, New York and Arizona. The arrests were the culmination of a three-year investigation led by the organized crime division of the New York Police Department.
Among those arrested are three New York City employees: a firefighter, a sanitation worker and a highway repairman. Charges include money laundering, promoting gambling and conspiracy.
The suspects operated two nationwide gambling rings that utilized sports betting websites filtered through Costa Rica. Millions of dollars in cash and property were seized after more than a dozen search warrants were executed five US states. All suspects are currently awaiting arraignment.
A New York City firefighter is among three city workers being charged with operating an illegal sports-betting ring that made $178 million in three years.
Firefighter Matthew Fopeano and highway repairman Michael Labetti allegedly paid out winnings, collected gambling losses, and solicited new customers. Robert Ackrish, a NYC sanitation worker, allegedly ran a separate sports betting operation that handled $24 million in wagers.
These men are among 38 people being charged with operating two “highly sophisticated illegal sports gambling enterprises” in New York City, Nevada and Costa Rica. The rings took nearly $178 million in wagers over 32 months basketball, football, baseball and hockey events, the district attorney said.
A spokesman for the New York Fire Department says that Fopeano, an 8-year veteran who allegedly made used a marked fire department vehicle for collecting sportsbook monies, was suspended without pay and faces termination.
Boston Herald: 38 indicted in NYC in sports gambling rings
New York prosecutors have indicted 38 people in connection with two illegal sports betting rings that allegedly spanned from Arizona to New York and Costa Rica and made $178 million.
Queens District Attorney Richard Brown said that the bookies used websites to collect wagers on professional and college events including basketball, football, baseball and hockey.
Lead by the New York Police Department’s organized crime division, investigators arrested the accused on charges enterprise corruption. Three of the men arrested are New York City employees: a sanitation worker, a firefighter, and a highway repairman.
Manchester United vs. Bayern Munich Soccer Betting Line:
Manchester United -½ -135 -135 2½ O -135 U +115 1½ O -140 U +120 Draw +260
FC Bayern Munich +½ +115 +365 2½ O -135 U +115 1 O Ev U -120 Draw +260
Half Time Line:
Manchester United -½ +130 +130 1 O -135 U +115 Draw +125
FC Bayern Munich +½ -150 +350 1 O -135 U +115 Draw +125
To Score First: Manchester United -210 FC Bayern Munich +160
To Qualify: Bayern Munich -115 Manchester United -125
Match Time: 02:45 PM Eastern Time Wednesday April 7, 2010
Tiger is not his real name. This golf legend – perhaps the most famous golfer who ever lived – was born Eldrick Tont Woods. The name “Tiger” was given to him as a child by his father, and the nickname stuck with him through adulthood.
Woods’ father was a Vietnam vet. His mother was originally from Thailand. Both of his parents had mixed ancestry, making Woods one-quarter Chinese, one-quarter Thai, one-quarter African American, one-eighth Native American, and one-eighth Dutch. To keep things simple, Woods refers to himself as Cablinasian (Caucasian, Black, (American) Indian, and Asian.
In 1978, when Woods was 2 years old, he made his first television golf appearance, putting against showstar Bob Hope on The Mike Douglas Show. Before the year was up, he had won his first golf competition. At age three, he shot a 48 over nine holes over the Cypress Navy course, and at age five, he appeared in Golf Digest. Woods established himself as a golf prodigy from an early age, and has yet to live down that title.
As a teenager, Woods’ career really picked up. He started getting noticed by the likes of Jack Nicklaus, and he was winning more big events than ever before. In 1994, at the age of 19, he moved on from his Junior League career to play in the U.S. Amateur Championship, becoming the youngest winner the event had ever seen.
After high school, Woods attended Stanford University on a golf scholarship. After two years of mixing school and golf, he left university, went pro, and immediately signed a $40 million endorsement deal with Nike – the biggest such deal the golf world had ever seen. Since then, the sponsorship deals have only increased, during Woods into the most marketable athlete the world has ever seen.
Woods has had an impressive pro career. To date, he has won 71 official PGA Tour events including 14 majors. His focus is on raw power, and he is known for his long drives. His short game is also good – his putting skills, especially when he’s under pressure, are a sight to behold. Despite his incredible skill he remains cautious in his game – he plays fewer big events than most pros, preferring to spend more time preparing for each one to be sure he plays the best game he can play.
The man’s skills have certainly paid off. Last year, Forbes confirmed that Woods is the first male athlete in sports history to earn more than one billion dollars during his career.
Woods has had a bad year, there’s no question about that. He’s lost many of his most lucrative sponsorships, and his charities have taken a hit. But as of April 2010 Woods back in the game, and he’s showing no signs of slowing down. In fact, both Both William Hill and Ladbrokes, two of the largest online sportsbooks, have Woods listed as the 4-1 favorite to win the next Masters. Does he still have what it takes?
He was arrested three years ago by FBI agents for running a company that let US players wager on sports over the internet. Carruthers was charged with racketeering and conspiracy.
Telegraph: Bet on Sports Online executive jailed
David Carruthers, the former head of an online sportsbook company called Bet on Sports Online, has plead guilty to charges of racketeering and conspiracy, and has been sentenced to 33 months in jail.
The charges are connected to the company’s operations in the US, where online gambling is restricted. The fiasco follows the government’s crackdown on offshore online gambling sites that illegally accept wagers from American players. Bet on Sports Online saw profits of $3.5bn (£2.2bn) between 2002 and 2004, and most of that revenue came from players in the US.
Carruthers has been living under house arrest in a hotel in Missouri for the last three years, ever since he was detained by the FBI at Dallas Airport while on his way to Costa Rica, where Bet on Sports Online is headquartered.
Assistant US Attorney Steven Holtshouser said: “Previously, executives, owners and investors believed that they were immune from the reach of US law enforcement. Both the conviction of, and sentence handed down against Mr Carruthers should send a message to any foreign business conducting illegal activities in the United States, that geography does not render it untouchable.”
Last year, founder of Bet on Sports Online, Gary Kaplan was sentenced to more than four years in prison after agreeing to forfeit more than £43m.
A SCOTS gambling executive has been sentenced to almost three years in the US after pleading guilty to charges of racketeering. David Carruthers has spent the last three years under house arrest at a hotel in Missouri for violating American gambling laws.
Edinburgh-born Carruthers was chief executive of the massive internet sporstsbook BetOnSports. Carruthers appeared in court on Friday, where he was sentenced to 33 months after striking a deal with prosecutors.
Carruthers read a prepared statement at the hearing, apologizing for breaking US gambling regulations in a prepared statement to the hearing. He said: “I understand now that the business was operating outside the laws of the United States. I realize I made the biggest mistake of my life. I am sorry for the actions of BetOnSports and the trouble it caused.”
He was arrested by the FBI agents in July 2006 as he passed through Dallas Airport on his way to the company headquarters in Costa Rica. His wife Carol was with him at the time, and was also detained.
Carruthers is accused of breaking US law by presiding over a company that accepted illegal sports bets on the internet from American bettors.
Gambling Executive Sentenced to Prison
David Carruthers, the former chief executive of the online sports betting company Bet on Sports Online, has just been sentenced to 33 months in prison.
On Friday, Carruthers pleaded guilty racketeering conspiracy. Carruthers and 10 other individuals, including the company’s founder Gary S. Kaplan were indicted in 2006. Each was accused of violating an old federal law that forbids the placement of wagers by wire.
“I understand now that the business was operating outside the laws of the United States,” said Carruthers in a statement he read to the judge Carol during his trial.
Bet on Sports Online saw $1.25 billion in profits in 2004, with 98% of that revenue coming from bets made across the internet by players in United States.
LaForte directed players to an internet sportsbook hosted offshore, supplying them with user names and passwords for online sports betting. The website gave LaForte a share of the profits. LaForte now faces a possible prison sentence.New York Man Admits Role in Sports Betting Ring
A man from New York admitted last week that he helped to run an illegal online sports betting website that offered services in several US states, including New Jersey.
Joseph W. LaForte admitted to the crime in U.S. District Court in Trenton last Wednesday.
LaForte, 39, pleaded guilty to conspiracy to operate an illegal online sports betting business. LaForte is already serving time in New York on separate charges, and now faces a sentence of up top five years in prison along with a $250,000 fine. He will be sentenced April 6th.
LaForte’s admission said that between 2005 and 2006, he and several others helped punters to place wagers through an online sportsbook hosted outside the United States, then shared in the profits from the sports betting business.
NY man admits role in sports betting ring
A man from Staten Island, New York, recently pleaded guilty to setting a former employee’s Mercedes-Benz on fire in 2004 out of revenge.
James LaForte Jr., 32, also admitted last Wednesday to offering high-interest loans, then using threats and violence to collect on them. Loan sharking carries a maximum sentence of 20 years in prison and a $250,000 fine.
Additionally, LaForte’s brother Joseph W. LaForte admitted to a federal court that he had participated in an illegal online sports gambling business in New Jersey, New York, Florida and elsewhere. Joseph LaForte, 39, is currently serving a sentence in New York state prison on unrelated charges. He admitted to conspiring with others in 2005 and 2006 to helping bettors to place wagers at a foreign internet gambling site. They provided punters with user names and passwords so they could wager on online sports betting, LaForte admitted. He faces up to five years in prison and a $250,000 fine; sentencing is set for April 6.
Breaking Local News from Staten Island, NY: Staten Island man admits role in sports betting ring
Joseph W. LaForte, a Staten Island native who most recently lived in Huguenot, admitted on Wednesday that he helped operate an illegal online sports betting ring in New Jersey.
Joseph W. LaForte made this admission Wednesday at the U.S. District Court in Trenton.
Thirty-nine year old LaForte pleaded guilty to charges he was accused of, including conspiracy to operate an unlawful online sports betting business. LaForte, currently serving a prison term in New York on unrelated charges, faces up to five years and a fine of $250,000 when he is sentenced on the 6th of April.
In his admission, LaForte revealed that in 2005 and early 2006, he and his associates directed bettors to a particular online sports betting website located outside the United States. LaForte shared in the profits from the online business.