A Michigan man who exploited a glitch in Caesars Sportsbook to wager over $88m in a two-week period has to pay back $2m to the operator.
Jeffrey Sacco pleaded guilty to engaging in illegal gambling activities after admitting to using the system vulnerability in April 2023 to deposit $2m of the house’s money into his own account. He initially faced eight felony charges that could have resulted in major prison time.
The activity was so significant that the losses from this single player were almost double what other bettors in Michigan lost that month on Caesars Sportsbook. The operator reported the matter to the authorities, with the Michigan Department of Attorney General and the state’s gambling regulator heading up the investigation.
lost about $1.5m of it gambling and withdrew $521,000 into his bank account
Sacco lost about $1.5m of the $2m gambling and withdrew $521,000 to his bank account before the fraud came to light. After making an initial $25,000 payment, the 38-year-old will make monthly payments of $2,500 to Caesars.
His punishment is 90 days in jail and 36 months’ probation. Sacco is attending Gamblers Anonymous meetings as he tries to recover from his addiction.
