General Discussion

“Using insider information to place bets through a betting service is illegal and commonly charged as wire fraud (18 U.S.C. § 1343) and conspiracy. This activity constitutes a scheme to defraud because it exploits confidential, material nonpublic information (MNPI) to obtain money through deception, using electronic interstate communications (apps, websites)”

Using insider information invalidates the integrity of the system. We see press examples that are theory, but the feds or local gaming states will absolutely go after illegal betting in an ugly way. It’s normally hard to prove, so if the feds have the evidence to go after it…you’re toast.