NEW YORK — In a sweeping federal crackdown, the FBI has arrested over 30 individuals, including current and former NBA players and coaches, for their alleged roles in a multi-year insider sports betting and game rigging scheme. The investigation, dubbed Operation Nothing But Bet, is being compared by FBI Director Kash Patel to insider trading enforcement in financial markets.
The Allegations
The probe revealed that defendants used non-public injury and performance data to place bets on NBA player prop markets, particularly “unders” (bets that a player would underperform). The scheme allegedly involved leaks from locker rooms, manipulation of player availability, and coordination with organized crime figures.
Among those arrested were:
- Chauncey Billups, head coach of the Portland Trail Blazers
- Terry Rozier, Miami Heat guard
- Damon Jones, former NBA player and assistant coach
Patel stated:
“This is insider trading for the NBA. The fraud is mind-boggling. We’re sending a clear message: manipulating games for profit will be met with the full force of federal law.”
Organized Crime Links
The investigation also uncovered ties to La Cosa Nostra, with members of the Bonanno, Gambino, Lucchese, and Genovese crime families implicated in a parallel scheme involving rigged poker games and cryptocurrency laundering, known as Operation Royal Flush.
Broader Implications
The FBI emphasized that insider betting undermines the integrity of professional sports and erodes public trust. By treating these cases with the same seriousness as financial fraud, federal authorities aim to deter future manipulation and protect the fairness of athletic competition.
Legal and Regulatory Response
The U.S. Attorney’s Office is pursuing charges including wire fraud, conspiracy, money laundering, and violations of sports integrity statutes. The NBA has launched its own internal review and pledged full cooperation with federal investigators.
Summary: Operation Nothing But Bet has exposed a high-profile insider sports betting ring involving NBA figures and organized crime. FBI Director Kash Patel compared the scheme to insider trading, stressing that aggressive prosecution will deter future game rigging and safeguard the integrity of professional sports.
Sources:
Fbi-Chief Kash-Patel-Picture on-Wikimedia-by-Gage-Skidmore
