SBC Americas was the first to report that Caesars Sportsbook has been hit with a $100,000 fine in Michigan after a Southfield man exploited a system flaw to create more than $2.1 million in ghost deposits.
Investigators say Jeffrey Saco used an unsecured application in Caesars’ account management system to artificially inflate his balance. Over just 16 days he placed nearly 10,000 wagers worth more than $88 million, averaging 26 bets every hour. During that time he was able to withdraw almost $600,000 in real money even though none of the deposits behind the bets actually existed.
Caesars self reported the incident to the Michigan Gaming Control Board, which accepted a $100,000 settlement under what regulators called an Acknowledgement of Violation.
On the criminal side, Saco faced eight felony charges. In April 2025 he pleaded guilty, served three months in jail, and was sentenced to three years probation. As part of that sentence, he was ordered to pay $25,000 up front plus $2,500 each month during probation, bringing his total required restitution during that period to $115,000. At the end of probation, any outstanding balance is to be converted into a promissory note. It has not been specified if that note applies to the full amount he withdrew, nearly $600,000, or simply the remaining balance from the $115,000 payment plan.
The case exposes a serious security gap in sportsbook systems, and while Caesars covered the fine and loss, unanswered questions remain about how much of the fraud money Saco is actually required to pay back.
