Online Sportsbooks of the Past
Gold Medal Sports
Too many stories about online sportsbooks end up with the principals spending time in Federal prison and the Gold Medal Sports is no exception.
Back in 2001, New Jersey Attorney General John F. Farmer was waging war against offshore sportsbooks for taking action from Garden State residents. (After all, NJ is clearly against that kind of thing.)
Unfortunately for the Curacao-based Gold Medal Sports crew, their island paradise wasn’t remote enough to escape the long arm of the law. By 2002 a number of their executives plead guilty to racketeering for their part in the operation. They forfeited millions in fines and several of the executives served lengthy prison stays. (We can’t imagine that there’s any other kind.)