Long-Time Poker Pro Cory Zeidman Admits to Defrauding Bettors and Faces 20-Year Prison Sentence

An experienced professional poker player, Cory Zeidman, admitted that he had cheated bettors in front of the court, and he could face lengthy jail time in addition to forfeiting and restitution of many million dollars.

Photo: Cory Zeidman (screenshot youtube.com/@PokerNow_YT)

Professional poker player Cory Zeidman entered a guilty plea to operate a dishonest sports betting operation that defrauded several wagerers for almost 16 years. His organization reached thousands of prospective customers by advertising its services on national radio.

Zeidman’s Group Had Insider Knowledge

In 2022, Zeidman, a well-known poker player and bracelet winner of the World Series of Poker (WSOP) 2021—the world’s major poker event held annually in Las Vegas on whose Main Event you can bet, mostly on sportsbooks with dollar betting, even though it’s gambling in itself—was charged with participating in the $25 million sports betting scam. His plan gave clients actionable information that would supposedly guarantee sports betting winnings, but he’d never place bets on behalf of others.

The accusations claim that Zeidman and a number of his associates operated a dishonest company that gave participants a betting edge. The group asserted that they had access to confidential data that might enable participants to place profitable wagers. They also persuaded clients that they were well aware of biased referees, unofficial player ailments, and rigged games. The group claimed to have connections with television companies, colleges, and athletes’ doctors.

The organization defrauded gamblers who thought they were winning at betting for more than 16 years by promoting its services under fictitious names such as Ray Palmer Group and Gordon Howard Global. In fact, Zeidman and his associates were the only real winners.

Zeidman Might Spend 20 Years Behind Bars

Zeidman has now pleaded guilty to counts of conspiracy to commit mail and wire fraud, admitting that he was the mastermind behind the plan.

Federal money laundering allegations were also brought against him. The poker pro could receive a maximum penalty of 20 years in jail, forfeiture, and $3.6 million in restitution, according to the US Attorney’s Office for the Eastern District of New York.

The fraud victims were instructed to get in touch with Homeland Security Investigations (HSI). According to the commissioner of the Nassau County Police Department (NCPD), Zeidman and his organization were the example his team set in apprehending scammers.