High-Stakes Las Vegas Sports Bettor Banned From Sportsbooks For Three Years

Professional sports bettor David Oancea, known to many in the gambling world as “Vegas Dave,” won’t be allowed in Las Vegas sportsbooks for the next three years.

Oancea was indicted in April and faced 19 felony charges after prosecutors claimed that he was using other people’s Social Security numbers to open up player accounts at various casinos between February 2015 and February 2016.

He allegedly used those fake accounts to process bets that added up to about $1.2 million in transactions in an effort to hide the money from the government.

In January, Oancea took a deal that saw him plead guilty to misdemeanor charges in a Nevada federal court. The 42-year-old admitted to causing a violation of record keeping and procedures, which carried a maximum sentence of five years’ probation.

On Monday, a federal judge sentenced him to three years’ probation, problem gambling treatment, 150 hours of community service, and barred him from entering Las Vegas sportsbooks for three years. Oancea also agreed to a civil asset forfeiture of $550,000, according to the Las Vegas Review-Journal.

Despite the restrictions and the plea deal, the prominent Las Vegas gambler spun this as a victory.

“For the last three years, I’ve faced the biggest gamble of my life being indicted by the Federal Government on 19 felony counts carrying a potential sentence of 40+ years in federal prison,” Oancea wrote on his Facebook page. “But true to who I am – a gambling man – I bet on myself and decided at that moment to stand up for my constitutional rights and to defend my freedom and innocence.”

Oancea also tweeted a photo of him and his legal team outside the courthouse after the judge sentenced him, claiming that he “walked out with zero felonies and a free man.” Between all of his social media accounts, Oancea has nearly one million followers.

Oancea’s legal team was comprised of attorneys David Chesnoff and Richard Schonfeld, who have also represented clients such as Leonardo DiCaprio, Britney Spears, Mike Tyson, Martha Stewart, and Shaquille O’Neal. They are the same lawyers that defended high-stakes poker players Paul Phua and Phil Ivey in their gambling-related legal battles, as well as a number of other poker pros.

Oancea made waves in the gambling world in 2015 when he won $2.5 million wagering on the Kansas City Royals to win the World Series at 30:1 odds. He has also appeared on networks such as ESPN, Fox Sports, and Showtime for his sports betting prowess.

After his big victory, Oancea began to sell membership packages to his personal website that would give members access to his picks.

“This is a very simple process. I email you the plays, you place the bets and keep all the money. I don’t take a percentage like others,” his website reads.

Despite his sportsbook ban, Oancea was readily giving away betting advice on social media just hours after leaving the courthouse.

3.5 years ago I was indicted by the Federal Government for 19 alleged felonies and 40 years in prison. Today I walked out with zero felonies and a free man. God is Great pic.twitter.com/To0Ntf8IsV

— Dave Oancea (@itsvegasdave) May 20, 2019

Most Viewed Articles