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New York Police Break Up $1 Billion NFL Gambling Ring

New York Police have announced that they have broken up a gambling ring that allegedly took in roughly $1 billion in NFL wagers in 2015 alone.

Four people were arrested in the raid, and they were charged with 57 counts of taking in illegal wagers and running an illegal gambling business. The charges were filed by Brooklyn District Attorney Ken Thompson, who said, "Illegal gambling is not a victimless crime - it preys on peoples' vulnerabilities and directly leads to money laundering, loansharking and a host of other crimes. The principals of this huge gambling operation - possibly the biggest one ever to be dismantled by a local prosecutor's office - allegedly moved millions of dollars around the United States and the world and used various tactics to launder these proceeds."

Those charged in the case are Gordon Mitchnick, Joseph Schneider, Arthur Rossi, and Claude Ferguson, and bail was set at $2 million for Mitchnick, while Scheider was given bail of $50,000. The group ran their operations through the websites WagerABC, TheWagerSpot, and Hustler247.

The ring is thought to have processed bets of $927 million in wagers during the last NFL season, and other bets were taken in for other major American sports. The ring also had operations in other countries, running a wire room in Costa Rica where financial transactions were processed.

Casino Listings will update this story as more arrests are made and details on the case are made.

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6 July 2016 - 10:01pm

Surprized $1 billion in wagers, obviously the ring was very well organized because it's really the largest revenue in sports betting I've had ever heard of. Maybe this and other similar crimes could be avoid if the sporsbetting has been legalized in most of the US states, or at least I think so.