ESPN's reporter points out the key red flag that triggered the investigation into Malik Beasley: "When they move the odds and the bettors just keep betting it"
Malik Beasley is facing an investigation over claims he wagered on games he participated in. ESPN's David Purdum, who covers sports betting, explains what set off the alarm and how oddsmakers usually detect suspicious behavior.
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"When bookmakers really are convinced that something untoward is going on," Purdum said on "The Dan Patrick Show," "When they move the odds. So, a prop bet may be over/under 2.5 for rebounds or whatever. Instead of moving, you know up to 4.5, they'll adjust the big on if you wanna bet the over, it may be -200."
"When they adjust the odds and the bettors don't stop betting it, and just keep betting it even though these odds have moved against them, it is a major red flag," added Purdum.
Beasley's suspicious activity
As Purdum highlighted, as soon as bookmakers note this trend, they sometimes egregiously move the odds by design. If the bets still keep pouring in after moving the odds, it's usually a sign that somebody is trying to game the system.
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Beasley's suspicious activity raised some eyebrows beginning in January 2024. He was still in the middle of a one-season stint with the Milwaukee Bucks, where he started 77 games and shot a 41 percent clip from deep.
Last year, the NBA banned Toronto Raptors center Jontay Porter for his participation in a similar gambling scandal. Reports indicate that Porter revealed information about his health status in advance to other bettors. It was also disclosed that he placed bets in at least 13 games using a friend's account.
Although none of these 13 games involved the Raptors, the NBA has a strict no-gambling policy for players, coaches and employees.
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Beasley's contract negotiations stalled because of the ongoing investigation. After making 319 three-pointers last season, second in the league behind Anthony Edwards (320), he was supposed to return to the Detroit Pistons on a multi-year deal.
Related: "I rather get away from the game a little bit" - Michael Jordan on why he never saw himself becoming an NBA head coach
The Internet doesn't let you play games
Following Beasley's predicament, former NBA veteran Matt Barnes weighed in on the situation in the latest episode of the "All the Smoke" podcast. As Barnes observed, the Internet checked the receipts as soon as news of Beasley's possible gambling involvement surfaced.
"All these little videos are coming up. This MFer got a rebound and went Game 7 speed and dunked the ball when they were down nine," Barnes said, sounding puzzled by Beasley's alleged illegal activity. "He looked stressed out right before. The Internet doesn't let you play games."
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"This gambling s***, I don't get it. You're getting too much money in this game to jeopardize that," he added.
Gambling on relatively small bets for a player making millions feels like an unnecessary risk with outsized consequences. The risk-reward calculus doesn't make any sense. The NBA has already clarified that any proven involvement in betting, especially on one's own games, would be akin to a death sentence for one's career. Yet, there it goes again.
Beasley's situation echoes that reality. After a strong shooting season and a likely eight-figure payday ahead, he now finds himself in limbo over wagers that pale in comparison to his potential earnings. It's a steep price to pay for something that never should have been worth the gamble.
Related: "People don't know how strong that guy is" - Kevin McHale on Larry Bird's most underrated trait as a player
This story was originally reported by Basketball Network on Jul 1, 2025, where it first appeared.
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USA Today
26 minutes ago
- USA Today
2 Cowboys make ESPN's 'Bag Hall of Fame' for winning at football finances
Among its ranks of fortunate players, the NFL famously stands for "Not For Long." The typical on-the-field career is incredibly short, even under ideal circumstances. Add in the extreme daily physical punishment, heightened risk of serious injury, and better-than-average chance of lifelong health issues, and it's no surprise that for most players, the ultimate goal- a Super Bowl ring notwithstanding- is to secure as much financial compensation as possible for the brief time spent playing the game. Some do it better than others, with today's modern-era contracts often resulting in dizzyingly huge paydays for the most gifted athletes on the planet. But ESPN's Bill Barnwell set out to identify the best of the best, at least when it comes to the business side of pro football. He's created what he's calling the "Bag Hall of Fame," meant to honor those players past and present who, in his words, "did the best job of maximizing their leverage and getting paid for their ability. Players who pushed holdouts to the next level. Players who bet on themselves and were handsomely rewarded for doing so. Players who even managed to represent themselves in negotiations and pocket millions of dollars that would have otherwise gone to an agent." In short, sticking it to the man (read: obscenely wealthy and yet usually miserly NFL owners). And for his inaugural class of eight players from across league history, Barnwell has recognized two who did so to none other than Cowboys billionaire owner Jerry Jones. QB Dak Prescott It's practically a cheesy Disney movie: a fourth-round draft pick who wasn't even his team's first choice in that draft class bets on himself multiple times, comes back from a catastrophic injury, finishes second in MVP voting, and goes on to become the highest-paid player in the sport's history. Jones's repeated reluctance to pony up for Prescott at the earliest opportunity "probably has cost Jones nine figures in terms of lost leverage and extra money for Prescott." His current pact, signed just hours before the start of the 2024 season, set records for average annual salary ($60 million), most single-season cash ($86.3 million), cash over the first three years ($174.1 million) and the largest signing bonus ever ($80 million). And it came with no-trade and no-tag clauses. As Barnwell notes, fellow franchise quarterbacks Josh Allen and Brock Purdy have each had their turn at the plate since Prescott's deal; neither came away with anything resembling that. "Between 2021 and 2024," Barnwell points out, the man who was once the biggest bargain in pro football "took home a staggering $212.3 million, nearly $47 million more than any other player." Is Prescott worth it? He hasn't yet secured a sixth Lombardi Trophy for the lobby of The Star, but the organization knows that paying him gives them a better chance than starting over with someone else. And in the meantime, Prescott has secured more leverage for himself than any player before him. CB Deion Sanders Sanders was both an athlete and a businessman at an unprecedented level, so much so that he convinced a total of nine teams that he was the ultimate answer to success. Across two different sports. Juggling a nine-year career in Major League Baseball with 14 seasons, nine Pro Bowl nods, six first-team All-Pro accolades, and eventually a gold jacket in the NFL, Sanders was the Loch Ness Monster in an entire herd of unicorns. Already a superstar and a Super Bowl champ by the time he came to Dallas, Sanders became the highest-paid defender in league history when he joined the Cowboys. His seven-year, $35 million deal in 1995 would translate to "something like... a seven-year, $263.4 million deal with a $97 million signing bonus under the current cap." For a cornerback. Who moonlighted as a return man. And sometimes a wide receiver. The contract was massive enough to elicit complaints from other teams, and even Jerry Rice. Emmitt Smith's agent reportedly used the Sanders contract in their own haggling with the club over Smith and the franchise tag. And yet that deal ended with a championship parade through the streets of Dallas and merely added to the legend of Sanders, the three-way NFL star who also hit homers and stole bases in the bigs as just a side hustle. Follow Cowboys Wire on Facebook to join in on the conversation with fellow fans!


CBS News
27 minutes ago
- CBS News
6 HELOC fees that could increase the cost of borrowing
We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. There are several surprising (and often avoidable) fees that could drive up the cost of your HELOC if you aren't careful. Getty Images Rising home values over the last several years have created a windfall of equity for millions of American homeowners, making home equity lines of credit (HELOCs) an increasingly attractive option for financing everything from home renovations to debt consolidation. With the average homeowner now sitting on over $300,000 in tappable equity, and with average HELOC rates lower than many borrowing alternatives, tapping into this resource seems like an obvious move for those needing to borrow money. However, what appears straightforward on the surface often becomes complicated once you dig into the fine print. While HELOCs are marketed as flexible, low-cost borrowing options, and while they certainly can be, the reality is that there are a number of related fees that can significantly increase the total cost of this type of borrowing. These charges can range from predictable upfront costs to surprise fees that catch borrowers off guard years into their loan. The problem is that many borrowers focus solely on the advertised HELOC rate, overlooking the potential fees that can add to their borrowing costs over time. Those fees can turn what was once an affordable borrowing option into an expensive debt, so it's important to know what to watch for before you sign on the dotted line. Find out how affordable your home equity borrowing options are now. 6 HELOC fees that could increase the cost of borrowing If you're planning to open a HELOC soon, make sure to keep an eye out for the following: Application and processing fees Most lenders charge an application fee to process your HELOC request, which typically amounts to a few hundred dollars. This fee covers the cost of reviewing your application, pulling credit reports and the initial underwriting work. Some lenders waive this fee as a promotional offer, particularly for existing customers or those with strong credit profiles. To minimize this cost, shop around with multiple lenders and ask specifically about HELOC application fee waivers. Credit unions and community banks often have more flexibility in waiving fees for members or local customers. Online lenders may also offer competitive fee structures to attract borrowers away from traditional banks. Learn more about the home equity borrowing rates you could qualify for today. Appraisal and property valuation costs Before approving your HELOC, lenders need to determine your home's current market value. Professional appraisals typically cost between $300 and $400, though it depends on your location and property size. However, some lenders may accept automated valuation models (AVMs) or broker price opinions (BPOs) instead, which can reduce this cost. You can potentially avoid appraisal fees by working with lenders who offer appraisal waivers for borrowers with excellent credit and lower loan-to-value ratios. Some banks also provide free appraisals as part of promotional packages for new HELOC customers, which is part of why shopping around is so important. Annual maintenance and inactivity fees Many lenders charge annual fees simply for keeping your HELOC account open, regardless of whether you use it. But what's perhaps even more frustrating are the inactivity fees, which some lenders impose if you don't draw funds from your line of credit within a specified period (typically 12 months). These ongoing fees can make a HELOC expensive even when you're not actively borrowing. So, it can benefit you to look for lenders that don't charge annual fees or negotiate fee waivers as part of your loan terms. Some lenders waive these fees if you maintain other accounts with them or meet minimum usage requirements. Closing costs and title work Unlike some other forms of borrowing, HELOCs generally come with closing costs similar to those for a mortgage. These can include title searches, title insurance, recording fees and attorney fees, potentially adding a few thousand dollars to your upfront costs. The exact amount varies significantly by state and local requirements. Some lenders offer "no closing cost" HELOCs, but it's important to read the fine print carefully. These lenders may build the costs into a higher interest rate or require you to pay closing costs if you close the line of credit within a certain timeframe. Early termination penalties If you pay off and close your HELOC within the first few years, many lenders will impose early termination fees. This penalty exists because lenders need time to recoup their upfront costs in setting up your credit line. To avoid this fee, you should plan to keep your HELOC open for at least the minimum required period, even if you pay down the balance early. Some borrowers keep a small balance or make occasional small draws to avoid triggering inactivity fees while staying past the early termination penalty period. Transaction and access fees Some lenders charge fees for each time you access your funds, whether through checks, online transfers or ATM withdrawals. These transaction fees can add up quickly if you frequently access your line of credit in small amounts. To avoid this extra cost, be sure to choose lenders that offer free transactions or have minimal fees for your preferred access method. Many online lenders and credit unions offer fee-free HELOC transactions as a competitive advantage over traditional banks, so be sure to weigh what those lenders offer as part of your search. The bottom line While HELOCs can be valuable financial tools for accessing your home's equity, the various fees associated with these products can significantly impact their cost-effectiveness. With careful planning, though, you can minimize these fees and make the most of your home's equity. So, before committing to any HELOC, be sure to calculate the total cost of borrowing, including all fees, not just the interest rate. You should also take the time to compare offers from multiple lenders, negotiate fee waivers where possible and consider whether the convenience and flexibility of a HELOC justify the additional costs.


CNN
27 minutes ago
- CNN
Takeaways from the verdict in Sean ‘Diddy' Combs' federal sex trafficking trial
People in entertainment Sean 'Diddy' Combs Human rights CrimeFacebookTweetLink Follow The jury in the federal sex trafficking trial of Sean 'Diddy' Combs returned its verdict on Wednesday, clearing the hip-hop mogul of the most serious charges, though he was convicted on two lesser charges of transportation to engage in prostitution. The verdict is, to some extent, a win for Combs, who will avoid the worst case scenario: If he had been convicted of the more serious charges of racketeering conspiracy or sex trafficking, Combs could have faced up to life in prison. Instead, he faces a maximum sentence of 20 years – though it's unlikely he'll serve a sentence that long, and he could even be sentenced to the time he's served since his arrest in September 2024. 'It's a bit of a paradox, because here we have Sean Combs, who has just been convicted of two federal felonies,' said CNN Senior Legal Analyst Elie Honig. 'And for all practical purposes, he has won. He has defeated the Southern District of New York.' Prosecutors accused Combs of leading a criminal enterprise made up of some of his closest employees, alleging they used threats, violence, forced labor, bribery and other crimes to force Casandra 'Cassie' Ventura and another woman, 'Jane,' to engage in drug-fueled sex acts with male escorts called 'Freak Offs' or 'hotel nights.' Combs pleaded not guilty to one count of racketeering conspiracy, two counts of sex trafficking and two counts of transportation for prostitution. His lawyers argued the sex acts were consensual and merely preferences, while trying to undermine the hip-hop mogul's accusers by contending they were trying to gain a monetary benefit from Combs. Here are takeaways from the jury's verdict. Combs and his defense team surely hoped he would be acquitted on all counts. But the verdict Wednesday is something of a boon for a star defendant who has seen his reputation diminish in the face of repeated accusations of wrongdoing. His acquittals on racketeering conspiracy and two counts of sex trafficking are striking when looked at within the context of the defendant's fall from grace: Two years ago, Ventura filed a lawsuit claiming Combs had raped and physically and emotionally abused her. Combs agreed to settle the lawsuit a day later; his attorney said it was 'in no way an admission of wrongdoing.' Ventura's lawsuit was only the beginning: More accusers came forward with allegations against Combs, and in March 2024, heavily armed federal agents searched the producer's homes in Los Angeles and Florida. Two months later, CNN published hotel surveillance video captured eight years earlier showing Combs physically assaulting Ventura in an elevator lobby at a Los Angeles hotel – footage included as part of the prosecution's case for sex trafficking as to Ventura. Now, while the verdict is mixed, Combs can claim some vindication on being cleared of the most serious charges. 'Regardless of what anyone thinks of Sean Combs … the simple fact is, as of right now, in the eyes of the law, he has not been convicted of a crime of violence,' said CNN Legal Analyst Elliot Williams. 'He has not been convicted of the far more serious, life-eligible crimes that he was charged with.' The verdict shows prosecutors failed to prove racketeering conspiracy; and while the jury's reasoning is not known, experts told CNN prior to deliberations that prosecutors' greatest challenge would be securing a conviction on this charge. That jurors found Combs not guilty shows they were unconvinced, either of the existence of a so-called 'enterprise' – a key piece of any racketeering case – or that he and others committed the underlying crimes that would support a conviction. The charge comes from the Racketeer Influenced and Corrupt Organizations Act, or RICO, which was passed by Congress in 1970 to prosecute organized crime. Racketeering is not a single, specific crime, but a framework for prosecuting many different crimes; in a RICO case, these are called 'predicate acts.' In Combs' case, prosecutors specifically argued the defendant and members of his inner circle had engaged in crimes involving kidnapping, arson, forced labor, bribery and sex trafficking. To convict, jurors would have needed to find Combs and at least one other person committed at least two predicate acts within a ten-year window. The use of RICO in Combs' case, while not entirely novel, was unusual in that he was charged alone. Jurors did not hear direct testimony from many of the people who would have been members of the alleged enterprise – namely his closest employees, like his chief of staff or some of his security guards. And legal analysts had wondered whether the evidence presented at trial had clearly linked Combs' alleged criminal acts to an enterprise. In their closing argument, the government offered jurors a roadmap, outlining the charge, the elements needed to prove it and the parts of their case that would support a conviction. Still, the argument did not persuade jurors. Combs' acquittal on sex trafficking charges is a big blow to the prosecutors for the Southern District of New York – and to his accusers, Ventura and a woman who testified under the pseudonym 'Jane,' each of whom spent days testifying, recounting years of abuse they said they suffered from Combs. While prosecutors accused Combs of sex trafficking as a predicate act under the umbrella of racketeering conspiracy, they also charged him with two separate counts of sex trafficking, one each for Ventura and Jane. To prove sex trafficking, prosecutors needed to prove Combs compelled the women to participate in commercial sex acts through force, fraud or coercion. And jurors were presented with myriad examples of alleged physical violence and financial control. Regarding Ventura, prosecutors contended physical force was illustrated in one instance by the InterContinental Hotel surveillance footage showing Combs assault Ventura in 2016 – first published by CNN. Testimony by both women suggested some level of financial or professional control; Ventura signed to Combs' record label at just 19, and prosecutors agued he controlled her career. Jane, meanwhile, testified she and Combs entered into a 'love contract' where he agreed to pay her $10,000 rent, but that he threatened to cut her off financially if she stopped participating in 'hotel nights.' Combs' attorneys had acknowledged physical abuse, but argued throughout the trial that domestic violence did not amount to sex trafficking. Prosecutors also told the jury they weren't suggesting every 'Freak Off' and 'hotel night' were instances of sex trafficking. Both Ventura and Jane testified they were willing to try the sexual encounters in the beginning of their relationships with Combs. The jury's verdict suggests prosecutors did not prove the elements needed to convict – like the force, fraud and coercion. 'My heart in this moment is going out to Cassie,' said Dream Hampton, the executive producer of 'Surviving R. Kelly.' 'I can't imagine what she's feeling.' 'I'm afraid that with Puff walking from the more serious charges that he's – not only him, the whole entire discourse – I just wonder what we're going to learn from this,' Hampton added. Combs was convicted, however, on two charges of transportation to engage in prostitution, each of which pertained to Ventura or Jane and the men Combs paid to have sex with them. Those charges were more straightforward than the other, and prosecutors merely needed to prove that people crossed state lines to engage in prostitution. Both women testified to having 'Freak Offs' or 'hotel nights' in a variety of locales, and prosecutors presented documents to bolster that testimony, including flight records, American Express charges and hotel invoices for Combs' former girlfriends and the men. 'What was clearer throughout this trial was acts of prostitution that were supported by airplane records, payments and so on – information that would just be hard to deny,' said Williams. 'There were sex acts, no one disputes that, and they were paid for. And there's a paper trail linking the defendant to them. That was far more straightforward for the prosecution to prove compared to some of the other things.' Prior to trial, Combs' defense unsuccessfully lobbied for the transportation to engage in prostitution charges, which stem from the Mann Act, to be dismissed, citing the statute's 'racist origins.' Attorneys for Combs have previously accused the government of racism, allegations the government denied. Doug Wigdor, Ventura's attorney, acknowledged Wednesday's verdict was 'not the exact outcome we wanted' in an interview with CNN. 'Cassie prompted this investigation…and now Sean Combs stands before the court as a convicted felon of two federal crimes. He faces significant incarceration,' he said. While the verdict marks the beginning of the end of one legal chapter for Combs, he still faces legal trouble. Most immediately, he'll face sentencing for the prostitution charges for which he was convicted Wednesday. Each carries up to ten years, but CNN legal analysts indicated it's possible he serves less. 'Certainly very few people are ever sentenced to the top of the statutory maximum,' Williams said. 'So we should get the ten year or 20 year figure out of our heads. But he will go to jail for some time.' Sentencing will be scheduled at a later date. In the meantime, his attorneys hope Combs will be released from federal custody while he waits. Judge Arun Subramanian asked the defense attorneys and prosecutors to submit letters on their positions about the possibility of releasing Sean 'Diddy' Combs ahead of a bail hearing Wednesday evening. 'Mr. Combs has been given his life by this jury,' said defense attorney Marc Agnifilo, as he argued for the judge to allow his client to return home. Combs also still faces a raft of civil lawsuits – nearly 70 have been filed so far, with several as recent as last week – accusing Combs of further wrongdoing, including sexual assault. Combs has denied all the allegations. Notably, civil claims carry a lower burden of proof. In the criminal trial, jurors needed to find Combs guilty beyond a reasonable doubt. But in a civil case, the proof only needs to meet what's called a 'preponderance of the evidence,' or more likely than not.