Cory Zeidman to Serve 46 Months in Prison over Bogus Sports Tipping Scheme

Corey Zeidman, a poker pro who has won the 2012 World Series of Poker bracelet, has admitted guilt in a case involving a fraudulent sports betting ring. In December 2024, the man pled guilty to wire fraud but was only sentenced this week.

Now, Zeidman will have to spend the next 46 months in prison over his involvement in the betting ring/fake tipster service. Zeidman told sports betting hopefuls that he had inside info that would help them turn their wagers into wins, and maintained appearances for close to 20 years.

Zeidman Ran His Betting Tipster Ring for Close to 20 Years

Zeidman now has to repay about $5.2 million to his victims, although he has collected more than $25 million from various clients over the years. He launched his tipster ring in 2004 and ran it through 2020.

Zeidman’s insight into sports was based solely on made-up claims about an athlete’s performance or on diligent Internet research.

Some of the victims, however, did not let up once they realized that their picks had turned into losses and eventually notified the authorities, including Homeland Security, which investigated Zeidman and brought the case against him.

While 46 months may seem like a lot, Zeidman was actually facing a much worse fate  – he could have easily been sentenced to two decades in prison instead. He avoided a lengthier sentence by pleading guilty and entering a plea bargain instead.