Poker professional Corey Zeidman has been sentenced to 46 months in prison for his role in a fake sports betting tips service. The 2012 World Series of Poker (WSOP) bracelet winner pleaded guilty in December 2024 to wire fraud and conspiracy and learned his fate on Tuesday.
He owes victims of the scheme $5.2m after telling people who paid for his betting picks service that there was no risk and that he had insider info. He even used radio ads to try to drum up business.
$25m worth of fees from their clients over the years
The scheme ran from 2004 until 2020, with Zeidman and his co-defendants taking about $25m in fees from their clients over the years. The supposed insider tips were proven to have been completely made up or found through internet searches. Eventually, some victims approached Homeland Security about the betting picks scheme, which led to the culprits being brought to justice.
Zeidman at one point was looking at two decades in prison before entering a plea agreement. The recommended sentence after the guilty plea was between 33 and 42 months, so his 46-month sentence is heavier than initially expected. He’ll serve his time at a minimum-security federal prison in Florida.
