Police Department Awarded $470,000 in Forfeited Online Gambling Money

Anne Arundel County Police in Maryland were awarded $470,000 from money seized that was related to the two year investigation of Beted.com, Bookmaker, True Poker, DoylesRoom and others.  Anne Arundel County has just over 500,000 and contains state capital of Annapolis.  This is a substantial amount of money for a department of that size.

Another blogger contacted the author of the article and was told this money likely came from the profits of the bogus processor Linwood Payment Solutions.  I seriously doubt that.  I estimated in another post that the gross profit of the bogus processor was about 10% of the $33 million processed.  Considering the feds had $3,300,000 at most to cover the entire operation for two years I have doubts that they could give just one of the cooperating departments 1/6 of their entire two year gross.  The net could not have been any more than $1.5 million and that is probably high.  Considering this department only had three officers involved I doubt they would be getting over 1/3 of the entire net.

Edit: As soon as I posted this I found this article.  This money was not seized recently but was related to “Operation Texas Hold’em” so it is certainly lost player funds at some point.  This further proves my point that this was nothing more than a cash grab by the feds.  The other blogger was going by what he was told by the author of the original article and his work on the topic was appreciated.

3 thoughts on “Police Department Awarded $470,000 in Forfeited Online Gambling Money

  1. I amended my blog with an update and I agree that the info i got from the reporter was incorrect. The money came from many different sources over the past 5 years, likely player funds at some point that ended up being reimbursed from the various sites. I don’t think any of the money is from the recently seized accounts because the check was dated may 13th and the second linked article noted it was from work done more than a year ago.

    • I appreciate the work you did. I amended the post slightly to make sure I was not making it look like you did anything wrong. Thanks for taking the initiative to contact the original article’s author.

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