Fraud Tout ‘Vegas Dave’ Charged with Misusing Social Security numbers
The Las Vegas Review-Journal reports that ‘Vegas Dave’ has been hit with a federal grand jury indictment on accusations that he is used fake Social Security numbers to open accounts at Nevada casinos and sportsbooks.
Vegas Dave is a well-known sports betting tout. He sells his picks through his website, where he claims that he “beats Vegas.” Dave Oancea is his real name. Oancea states on his website that he is now retired from sports betting, but serves as a consultant.
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Oancea gave out fake Social Security numbers that were fake or belonged to another person. He is accused of using other Social Security numbers at Westgate Casinos and Wynn Las Vegas to make nine transactions which totaled around $3.5 million.
In total, the indictment charges Oancea with nine counts of misusing a Social Security number and ten additional counts of causing a domestic institution to file false reports. The indictment also looks to have him forfeit around $881,600 in sports betting winnings.
Is Vegas Dave Legitimate?
In a word, no. Sports bettors often ask me if they should pay for picks. I always tell them no, because 99% percent of touts or as Vegas Dave calls himself, a “sports consultant” – are frauds. For more on this subject, check out my article: Touts: Should You Pay for Picks?
Most recently, Vegas Dave told his clients to send him cash through the mail to buy his pick pages to his suite at the Flamingo.
— Faulty Drone Strike (@Jdemz) April 13, 2017
Here’s another photo of the $2 million he claims he won on the Falcons after this year’s NFC Championship game:
Wow, look at that huge wad of cash. Yeah, take that haters!
— Dan Duffy (@groovinmahoovin) February 7, 2017
So much for that.
Not So Fast, Dave
The above is scratching the surface. Oancea calls himself the “Futures King”, due to his success in futures markets. Of course, Dave isn’t showing the tickets that didn’t win or the futures that don’t look so hot. He claims to have won $2.5 million on the Royals winning the World Series on a futures bet, but off the record sources say that he hedged that bet multiple times.
Dave isn’t too good at other sports earlier. He has an MLB system that is simply just martingale betting. In 2015, he claimed a record of 125-3 in baseball. Amazing. He released all his college football bowl plays on Dec. 19 before any of the games had been played. The picks did terribly, yet Vegas Dave later claimed to have only bet a few football games a year and that he had a 21-1 record in 2016.
Read more about Vegas Dave’s shenanigans in this BettingTalk.com thread and never pay for his betting advice.