Lied about having inside information
Poker pro Cory Zeidman has been sentenced to nearly four years in federal prison for defrauding sports bettors out of millions of dollars over the course of a decade and a half. After initially denying the accusations, Zeidman pleaded guilty to conspiring to commit mail and wire fraud in December 2024.
On Tuesday, the court recommended that the 62-year-old Zeidman spend his 46-month incarceration at FPC Pensacola, a minimum-security prison for males in western Florida.
According to the investigation, Zeidman and his partners ran a sports tout business, even advertising on the radio. Rather than simply engaging in the usual shady practices that sports betting advice firms often use, Zeidman took it a step further, claiming that he had inside information that would guarantee winning bets.
“Using fake names and high-pressure sales tactics,” said Homeland Security Investigations (HSI) New York in December, “Zeidman and his partners falsely led the bettors to believe that their organization had access to non-public information — bettors were often told, for example, that Zeidman’s organization had access to non-public player injury information, ‘dirty’ referees, or that professional sporting events were ‘fixed’ and that media executives’ shares predetermined outcomes with Zeidman’s organization.”
Of course, none of this was true, but clients forked over about $25 million for information that “was either fictitious or obtained from an internet search,” believing their bets were low-to-no-risk.
“Zeidman and his partners were able defraud so many individuals with their lies and had them pay these exorbitant fees for nothing,” said Daniel B. Brubaker, Inspector in Charge, United States Postal Inspection Service, New York.
Zeidman has been ordered to repay $3.7 million. He could have been hit with a 20-year sentence, so 46 months is fairly light, though the prosecution recommended between 33 and 41 months.
15 minutes of fame
Primarily a cash game player, Zeidman has $692,246 in live tournament earnings, according to The Hendon Mob database. Much of that – $201,559 – came from a 2012 World Series of Poker bracelet victory in the $1,500 Seven Card Stud Hi/Lo event. He also had a deep run in the 2003 WSOP Main Event, finishing 39th for $25,000.
Zeidman’s most notable moment in tournament poker, though, may have been early on Day 1 of the 2005 WSOP Main Event, when he hit an improbable hand on ESPN’s national broadcast in the middle of the poker boom.
After 2015 Poker Hall of Fame inductee Jennifer Harman raised with pocket Queens, Zeidman called with 8-9 of diamonds and Brady Davis called with A-6 offsuit. The T-J-Q flop gave Zeidman a Queen-high straight, but also gave Harman top set. Davis checked, Harman bet, and Zeidman raised. Davis got out of the way and Harman made the call. The turn was another Ten, which was great for Harman, as it gave her a full house. It was also another diamond, providing Zeidman a straight flush draw. Harman raised Zeidman’s bet, causing Zeidman to hem and haw about how he can’t get off of the hand.
He finally called, bringing on the miracle 7 of diamonds for the straight flush. And then he really hammed it up. Harman, holding the boat, put Zeidman all-in. Instead of insta-calling, though, he leaned back and said, “I guess I can do a lot of sight seeing if I lose this hand,” as if there was any real chance that was going to happen. He slow-rolled Harman, who was obviously not thrilled to see she had lost a huge hand.
Zeidman tried to complement her as he collected his chips, but Harman wasn’t in the mood after losing to a one-outer on the river.
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