ESPN reports that James Krause acted as an agent for an offshore bookmaking operation for years. Krause, who is under investigation by the Nevada State Athletic Commission is said to have worked as an intermediary between offshore sportsbooks and bettors for ABCBetting.ag.
Bettors placed bets with Krause who provided them with a line of credit and login information. They paid Krause directly after placing wagers on the site. The money exchanged was via Venmo or PayPal.
Krause did not respond to ESPN for comment but his former trainee, Darrick Minner spoke briefly. Regarding the fight in which he lost by TKO which sparked the gambling investigation, Minner stated that he had a “minor knee injury” going into the fight and it was exacerbated during his November 5th fight. He declined comment on the issues of gambling and whether Krause was involved in offshore betting.
For bettors and agents working for offshore sportsbooks that operate outside of the US, there are various laws which run afoul of the US government including tax evasion, illegal sports betting and money laundering.
Payout Perspective:
The Nevada State Athletic Commission has not chimed in on this recent news but at its January hearing we should know a little more about what they will do with Krause, Minner and Krause’s pupil Jeff Molina who was also suspended. But for Krause, the penalties may loom larger than just the Nevada commission. Dependent on Krause’s actions, he could be in violation of civil law as well as the possibility of criminal conduct. The fact that he accepted payment through Venmo and PayPal make the trail of evidence even easier to analyze. MPO will continue to follow.
Leave a Reply