Written by :
Published on :
Gambling911.com has long been following the trials and tribulations of one of offshore sports betting's oldest - and now most troubled - sportsbooks, Costa Rica-based Jazz Sports.
More recently, Gambling911 is learning that some customers are being told payouts are now "on hold".
Jazz Sports founder, a gentleman known as "Mike", exclusively told his side of the story to Gambling911.
"The deal was for 20million affective August 15th 2024 of which I was to receive 6.5 (of that) upfront and the rest over three years," he tells Gambling911.com "Instead, I agreed to giving them back 5m to cover ALL player balances including the 'sharp' guys. In exchange, I would work with the company for three years and manage the lines and credit business while I was paid out the remainder of my money.
"This is all documented in emails including the player balances which included all players...nothing was hidden."
Talk about a business deal going off the rails.
"Instead, on December 9th 2024, I was attacked, kidnapped, beaten, and nearly killed by people hired by Lou and his friends," Mike tells Gambling911.com. "While I was recovering from cracked ribs and multiple abrasions requiring stitches, I was locked out of the office and they have since not only not paid me but kept the 5 million rather than pay players."
Jazz Sports was no doubt on life support prior to this deal. Since its founding in 1994, the company at times struggled but always managed to rebound. Jazz once operated four land-based casinos in Costa Rica.
During the months leading up to the August 2024 deal to sell Jazz Sports, vendors had also revealed to Gambling911 they were being stiffed.
The gentleman who assumed Jazz Sports operation, known as "Lou", was a previous executive of the now defunct BetOnSports, and later helped run MyBookie.ag.
Lou laughed off the notion that Mike had ever been kidnapped.
"Mike would never show up at the office and he turned out to be useless so we got rid of him," Lou told us at the time he assumed the day-to-day operations of Jazz Sports.
Lou also told Gambling911.com that a number of pro sports bettors, some of whom were owed five figures, would not be paid as "Mike never disclosed the true amount of debt" brought on by these customers and that "Mike is responsible for them".
But the week's leading up to this year's Super Bowl, Gambling911.com sources advised us that Lou had left Jazz Sports, and fled the country of Costa Rica.
According to Mike, Lou "sold" the Pay Per Head arm of the Jazz Sports business to another PPH operator.
"(Lou) will receive a commission based on that business," Mike claims. "I was told that when Lou fired many long time employees, they were told that if they tried to steal players the same thing that happened to me would happen to them."
Mike contends that the recreational customer base of Jazz Sports will likely be assumed by another well established sportsbook while the PPH, known as ABC Islands, has been taken over by a gentleman known as "Buckeye". Other sources close to Gambling911.com also made mention of "Buckeye" assuming the Pay Per Head business.
ABC Islands is believed to still be profitable. Jazz, through its parent company DPT, purchased ABC Islands (along with Loose Lines Sports and Top of the World Sports) in February 2002 from BetCRIS. ABC Islands was started by a successful Pittsburgh area bookmaker who himself was among the pioneers of offshore sports betting. He sold his business to BetCRIS in 1999.
As for the whereabouts of Lou, nobody seems to know.
"Lou was fired from MyBookie for being incompetent and he and his team were worse than incompetent when they took over Jazz," Mike contends.
To be continued.....
- Chris Costigan, Gambling911.com Publisher
