A Michigan gambler from Southfield is facing eight felony charges for allegedly defrauding the Caesars Sportsbook betting app. The incident occurred in April 2023, according to the Michigan Gaming Control Board (MGCB).
Michigan gambler allegedly made more than $2 million in fictitious deposits into his Caesars Sportsbook account
Jeffrey Saco, 38, allegedly made more than $2 million in fake deposits into his Caesars Sportsbook account by “exploiting a system vulnerability” last April.
Saco placed 10,000 bets within 16 days, which is roughly 26 bets an hour. The bets wagered more than $88 million. He then allegedly transferred more than $521,000 into his personal account before ceasing activity on the platform.
The MGCB and the Michigan Department of the Attorney General’s Criminal Investigation Division conducted the investigation.
Saco was arrested on Sept. 4 and was arraigned on Sept. 5 in the 86th District Court. He was released on a $500,000 personal bond. The bettor faces the following felony charges: