Two former employees of a gambling company have been charged following an investigation into irregularities in fixed-price betting odds last year, NSW Police say.
In November 2017, detectives from the State Crime Command’s Organised Crime Squad commenced an investigation following reports of unauthorised access to betting systems allowing for short periods of increases in fixed-price betting odds for NBA games.
Following extensive investigations, detectives arrested two men, both aged 24, at homes at Ryde and Marsfield, just about 9am yesterday (Thursday 8 March 2018), who were taken to Ryde Police Station.
The Ryde man was charged with dishonestly obtain financial advantage by deception, three counts of unauthorised function with intent to commit serious offence, nine counts of attempt to dishonestly obtain financial advantage by deception, and knowingly participate in a criminal group assist crime.
The Marsfield man was charged with two counts of unauthorised function with intent to commit serious offence, eight counts of attempt to dishonestly obtain financial advantage by deception, and knowingly participate in a criminal group assist crime.
Police will allege in court that the pair, who were employees of the company, accessed the betting system and inflated odds without authorisation on five occasions between 29 October and 19 November 2017.
During periods where the odds were inflated, it is alleged ten bets were placed which had the potential to return more than $400,000.
Both men were granted strict conditional bail to appear at Burwood Local Court on Monday 26 March 2018.
The pair were suspended by the company in late November 2017.
Investigations are continuing, and further charges are expected.
Police are urging anyone with information about cheating at gambling offences to call Crime Stoppers.
