Diamond Sports Bet

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05/30/2003 - 7:05 PM ET

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A DIAMOND IN THE ROUGH

Christopher Costigan, Sports911.com

While most established offshore bookmakers have reported a relatively favorable football and post Super Bowl season, the industry is not without its struggling operations; case in point, Diamond Sports International (otherwise known as BetDSI.com).

Two weeks ago, Diamond’s sister Bingo site, FunTimeBingo, was hacked and the culprits allegedly ran off with the group’s customer list. Previous to this incident there were rumors circulating that the FBI had come dangerously close to nabbing one of Diamond Sports’ two main principals in Costa Rica. He has since fled to Spain. Another of the partners left more than seven months ago.

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• Sports Picks and Game Predictions When it comes to sports betting, you want to have an advantage over other bettors (and, of course, over the sportsbook). To get said advantage, you can stare at the odds and research betting trends until you’re blue in the face, hoping for something to jump out at you, or you can get an extra edge.

Sports Picks and Game Predictions When it comes to sports betting, you want to have an advantage over other bettors (and, of course, over the sportsbook). To get said advantage, you can stare at the odds and research betting trends until you’re blue in the face, hoping for something to jump out at you, or you can get an extra edge.

It is during these last couple of months that things seem to have come unraveled over at BetDSI. The one partner, who calls himself “Dino”, apparently fears the worst when it comes to the long arm of U.S. law enforcement. This past week, the company started moving computers from its wagering floor to another “undisclosed” location, quite possibly outside of Costa Rica.

Many “legitimate” bookmakers are fearful of U.S. law enforcement activities in Costa Rica and the long term accommodations (and government discounts) provided to those agents staying at the San Jose, Marriott. The FBI, however, appears to be more interested in pedophiles, murderers and money launderers who wrongly consider the Central American nation a safe haven.

Without a focused management core operating from Costa Rica, DSI has been sent into a tailspin, made worse by the fact that another one of its ring leaders, Robbie Diamond, has also left the organization. Robbie is long considered “the face” behind Diamond Sports and the individual who dealt with most providers, vendors, website portals and many of the post up players.

911 has learned that DSI does owe a significant amount of money to affiliates and has shown no sign of making payments. Agents are reportedly owed money as well. And at least one player has notified 911 of a “slow pay” matter involving low five figures.

But is Diamond Sports International really that insolvent?

“They have the money,” explained one insider familiar with the company who wished not to be identified. “It’s just that most of the money is tied up in assets and property but the two owners don’t want to part with anything.”

There might also be some friction between Dino and the other owner, David, which is common among partners working in this industry.

“The situation is definitely deteriorating there. Both principals are trying to figure out who owes who and who is to pay what.”

With “tons” of sharp players betting into Diamond Sports, many fear the situation could get worse before it gets better.

“Robbie and his partner left the organization recently,” explained another source close to 911 who up to this point has provided accurate information related to Diamond Sports and its owners. “Soon thereafter, the Bingo site was hacked and the online casino went down for unknown reasons. Everything went downhill after the owners left Costa Rica.”

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This same source also claims that funds turned up missing from the operation in recent month.

The question remains, Can BetDSI survive this tumultuous period with such a gap remaining between now and the start of the heavy football betting season?

It is possible. Jazz Sports admitted to severe cash flow problems last year but managed to rebound nicely after the start of football. Other top companies have likewise escaped near obliteration in past years.

Unfortunately, Diamond Sports may not have the same central infrastructure found at an organization like Jazz.

“You’re talking about guys who really don’t seem to have a handle on the operation or even a handle on what the other guy is responsible for,” the 911 source stated.

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