Sports Betting Industry News
Notorious gambler from Chicagoland charged with stealing nearly $10 million to fund sports betting, lifestyle scheme
Notorious gambler from Chicagoland charged with stealing nearly $10 million to fund sports betting, lifestyle scheme
Robert Gorodetsky was charged Tuesday in U.S. District Court in Chicago with defrauding a person out of $9.6 million to fund a lavish lifestyle in Las Vegas that included sports betting, table games and partying.
A Chicagoland product, who claimed in a 2017 USA Today feature to win 60% to 65% of his often 6-figure sports bets thanks to "gut instinct," has been accused of stealing almost $10 million to fund his lavish lifestyle.
Robert Gorodetsky, 27, of Glencoe, was charged Tuesday in U.S. District Court in Chicago with defrauding a person out of $9.6 million between 2014 and 2018. The complaint claims Gorodetsky promised he would use his own money along with the lone investor's cash to invest in the stock - and sports betting - market, [according to the](https://www.chicagotribune.com/news/criminal-justice/ct-chicago-sports-gambler-fraud-charges-20200122-uruvy3ao4jf7xeeumtrg4jp4su-story.html) Chicago Tribune.
In addition to the often -EV sports bets, Gorodetsky used the funds for high-limit table games, expensive cars and jewelry, entertainment tickets, travel and partying. Gorodetsky claimed he has gambled with popular musician Drake and star athletes, but the money used was allegedly never his. According to the complaint, Gorodetsky lied about the actual returns of the nearly $10 million and submitted a fraudulent federal tax return in 2016 claiming his total income was only $10,520.
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Veterans in the sports betting industry saw right through the 2017 USA Today profile of Gorodetsky, who was quoted [in the article](https://www.usatoday.com/story/sports/2017/12/26/robert-goredetsky-future-face-sports-betting/948611001/) saying:
“I can’t name one (expletive) player on the field. I can’t name a quarterback, I can’t name anybody.
“Can you believe we have $100,000 on this stupid college game that nobody’s watching in this world? It’s sick, right?”
Only the best sports bettors in the world win 55-57% of bets in the long term and they usually aren't doing it based on "gut instinct." Despite the reckless parlays, Gorodetsky's tout service was charging $500 a month for his picks and he claimed the service would have a “market share of at least 5% of a $150 billion industry” once sports betting became legal nationwide.
Instead, the alleged scammer is charged in a two-count criminal information with executing wire fraud and filing a false tax return, per the Tribune. A criminal information is usually an indication the defendant will plead guilty.
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2020-01-23T00:01:42.416Z2020-01-22T17:52-06:00