A Michigan man is facing multiple felony charges for making fake deposits with Caesars Sportsbook that allowed him to wager over $88m. [Image: Shutterstock.com]
Beating the system
A Southfield, Michigan man is facing eight felony charges for “exploiting a system vulnerability” in Caesars Sportsbook that allowed him to wager more than $88m in little over two weeks.
made more than $2m in “fictitious deposits” into the sportsbook in April 2023
The Michigan Gaming Control Board (MGCB) released a statement Wednesday revealing Jeffrey Saco, 38, allegedly made more than $2m in “fictitious deposits” into the sportsbook in April 2023.
Over 16 days, Sacco placed almost 10,000 bets at an average of $8,800 per bet. After his $88m betting spree courtesy of Caesars Sportsbook, Sacco transferred over $521,000 into his personal bank account, before ditching the sportbook’s app.
Sacco faces a preliminary examination hearing at the 86th District Court in Traverse City on October 4.
Jail time beckons
The Traverse City court judge charged Sacco with eight counts; namely larceny by conversion (“embezzling or unlawfully converting money”), three counts gambling activity-felony violation, and four charges of using a computer to commit a crime.
Sacco’s larceny charge carries a maximum 10-year jail sentence, the same term for each of his felony gambling charges. Each computer charge carries with it a maximum 20-year prison term.
engaging in fraudulent activities with his mobile betting account”
According to the MGCB release, Caesars Sportsbook notified the state gaming board about a customer who was allegedly “engaging in fraudulent activities with his mobile betting account.”
Lathrup Village Police arrested Sacco on September 4, with agents from the Michigan Department of Attorney General’s Criminal Investigation Division taking him to Grand Traverse Sheriff’s Department in Traverse City on September 5. He was arraigned and released on a $500,000 personal bond the same day.
Mutual appreciation
Both the MGCB and the Michigan Attorney General’s Office praised each other’s involvement in bringing Sacco to face justice. MGCB Executive Director Henry Williams said in a release his body appreciated the cooperative partnership with the AG’s office, before warning that the MGCB “takes the enforcement of gambling laws and regulations very seriously.”
Mutually, Michigan AG Dana Nessel said his office appreciated the MGCB partnership. Nessel added the pair not only work together to enforce Michigan gambling laws, but also to “prosecute criminals taking advantage of legitimate gaming venues.”
