Vegas Dave said after the plea bargain that sportsbooks are your best friend when you lose, but turn against you as soon as you’re a consistent winner.
Dave Oancea avoided prison time after facing 19 felony charges for using fake social security numbers at Las Vegas sports betting accounts. On the other hand, the court banned Oancea from Las Vegas sportsbooks for 3 years.
David Oancea, also known as “Vegas Dave“, received what many considered a slap on the wrist. Prosecutors accused him of using other people’s social security numbers to claim more than $1.2 million in winnings.
Ultimately, prosecutors charged Oancea with 19 felony charges now walks free in April 2017. Oancea was looking at a sentence of five years for each of the 19 charges, potentially looking at up to 95 years in prison.
Instead, US District Judge Jennifer Dorsey ordered Oancea to serve three years of probation, receive problem gambling counseling, and perform 150 hours of community service.
Jennifer Dorsey’s Verdict
Dorsey also ordered that he stay out of Nevada sportsbooks for three years. For most this three-year ban would not seem like a big deal but for a man such a “Vegas Dave” it’s a life sentence. Though I am sure he more than relieved to not be going to prison.
When Oancea was asked what his profession was, he told the judge he was a “sports information consultant.” Oancea said he had been in the industry for 15 years, but, “More aggressively for the last three years.”
Judge Dorsey asked what his job involved and Oancea said that he provide, “Information on [sports] teams and how they’re going to play against one another.”
Dave Oancea’s Biggest Bets
Oancea became a well-known name in the sports betting world over the years. Though his bet on the Kansas City Royals to win the 2015 World Series at 30-1 seem to bring him the most attention. The bet ended up winning him $2.5 million as well as a certain level of attention in gambling circles.
After his trial was over, Dave Oancea said in an official statement: “I bet on myself and decided…to stand up for my constitutional rights and to defend my freedom and innocence. Today, I walked out of the federal courtroom a free man with zero felonies and zero prison time.”
Oancea stated that though dealing with the legal system was “the biggest gamble of my life“, it also turned out to be one of the best things for him. Oancea said that he had told the judge that his experiences had brought him closer to his parents and “closer to God.”
Chesnoff and Schonfeld
What went unmentioned in the public statements is Dave Oancea had to pay out to one of the best defense councils in Nevada. His success wasn’t all luck, but like his career in sports betting, he backed the right side when it came to legal teams.
His five-star legal team, David Chesnoff and Richard Schonfeld, have defended celebs like Paris Hilton and Mike Tyson. In the gambling world, Chesnoff and Schonfeld defended gambling icons like Phil Ivey and Paul Phua.
Oancea’s attorneys were able to negotiate a plea deal in which Oancea would have to admit to the lesser crime. His confession was that he claimed to a violation of record keeping and procedures. He also agreed to a related civil forfeiture of $550,000.
Schonfeld said that the agreement with prosecutors was “a fair resolution to the situation.” He added that “Mr. Oancea is looking forward to putting this behind him,”.
About Vegas Dave Oancea
“Vegas Dave” didn’t waste a minute in his time in the spotlight even while walking out as a free man. He used the attention on him to promote his new business saying that his company was the “#1 sports information consultant, as seen on ESPN, Fox Sports, Yahoo Sports, USA Today, Forbes, and Showtime TV”
Oancea may be pushing his luck though after we was able to break away pretty cleanly. According to him, casinos may have placed those charges against him as a part of a conspiracy to stop him winning so much.
Dave Oancea on Vegas Sportsbooks
The successful handicapper and defendant said it’s in the nature of casino-sportsbooks to go after consistent winners. He said, “It’s funny how the Las Vegas casinos work. When you lose money, they are your best friend, but when you win, they become your worst enemy; even going so far as to threaten your freedom. I find it very odd that when I was losing for many years there was no issue with these alleged social security numbers.”
