MGCB fines Caesars Sportsbook $100,000 following $2.1m deposit error
The penalty was issued after Jeffrey Saco took advantage of a technological error and deposited $2.1m without actually transferring any funds from his personal bank accounts.
Key Points
- With the fake deposits, Saco wagered over $88m and withdrew nearly $600,000 in April 2023, having totaled 116 deposits prior to ceasing all activity on Caesars Sportsbook
- Caesars Sportsbook self-reported the technological error and resulting action, as Saco was charged with eight felonies and received a three-month jail sentence
The Michigan Gaming Control Board (MGCB) has fined Caesars Sportsbook $100,000, following a technological error which allowed bettor Jeffrey Saco to deposit $2.1m without transferring funds from his personal bank accounts, having received eight felony charges as a result of his actions.
With the fake deposits, Saco wagered over $88m and withdrew nearly $600,000 in April 2023, having totaled 116 deposits prior to ceasing all activity on Caesars Sportsbook.
“On July 14, 2025, the Executive Director issued a Notice of Opportunity to Show Compliance to Respondent alleging violations of various Internet gaming and Internet sports betting rules…when it allowed a patron to access the unsecured systems application and make 116 deposits with no physical cash deposit or other authorized method of account funding,” the MGCB said as part of an official order released on September 19.
“The Respondent signed the Acknowledgement of Violation (AOV) on July 28, 2025, which represents the Respondent’s agreement to pay a $100,000 fine in addition as a full and final resolution of the matter. The Executive Director signed the AOV on August 11, 2025.”
Good to know: The MGCB reported the state’s iGaming and sports betting revenue throughout August 2025 on September 17, as operators managed to generate $312.5m for an increase of 39.5% from the prior year period
Caesars Sportsbook self-reported the technological error and resulting action, as Saco was charged with eight felonies and received a three-month jail sentence.
Saco will also be responsible for $2,500 payments issued to Caesars Sportsbook every month throughout a probationary period running for three years, and paid the operator $25,000 upfront in April 2025.
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