Who Is Vegas Dave? His Near Jail-Sentencing & Gambling Ban
Dave Oancea, known as Vegas Dave in the gambling world, was once charged with 19 felonies counts for allegedly using different identity to hide his income from law enforcement.
What happened next? Know the full story.
Who Is Vegas Dave?
In his betting career, he amassed numerous betting triumphs, including a payout of $208,000 in the 2012 NFL Super Bowl, a payout of $340,000 in the 2013 World Series, and a $300,000 payout during UFC in 2016 among many others.
Vegas Dave, or Dave Nakama Oancea, was born on 10 December 1976 in Honolulu, Hawaii.
Later in his life, he moved from Hawaii to enroll at the University of Las Vegas (UNLV) to start his education. However, he took a big step in gambling and placed his $10,000 UNLV student loan money on a roulette game in Vegas. The gamble he took at the casino paid off: he doubled his money the same night. He then dropped out of college the next day and started his betting career with $20,000 in his bank account.
Dave eventually went on to be called "The King of Futures" for his success in long-term sports bets with high payouts. Some of his accomplishments and highest payouts are listed below:
1. Payout of $208,000 against a bet of $8,000 on the Ravens during the 2012 Super Bowl.
2. Payout of $340,000 against a bet of $30,000 on Boston Red Sox during the 2013 All-Star Break.
3. Payout of $580,000 against a bet of $80,000 on Texas Rangers during the 2015 All-Star Break.
4. Payout of $2.5 million against a bet of $100,000 on Kansas City Royals winning the World Series in 2015.
5. Payout of $240,000 against a bet of $20,000 on Holly Holm against Ronda Rousey at UFC in 2015.
6. Payout of $2.3 million while betting on the Denver Broncos to lift the Super Bowl.
7. Payout of $300,000 against the biggest UFC wager ever on Miesha Tate to win against Holly Holm.
8. Payout of $2 million for a bet on Atlanta Falcons for the 2016 NFC.
Indictment $ Accusations Against Vegas Dave
Vegas Dave was first indicted in April 2017. He was charged with 19 federal counts that alleged that he used multiple Social Security numbers to hide his winnings from the Internal Revenue Service between February 2015 and February 2016. Law enforcement authorities claimed that the sports gambler used different Social Security numbers to open player accounts at different casinos.
At the time of the indictment, the authorities claimed that Dave used false social security identities nine different times at Wynn Las Vegas and West Gare SuperBook to conduct transactions of $3.5 million in total.
The law enforcement authorities further went on to claim that the use of false social security information allowed him to hide around $881,600 in winnings from the Internal Revenue Service (IRS).
Court Hearing: Sentencing & Ban
The final hearing and sentencing for Dave's case took place in May 2019. The 19 felony counts against him had the potential to land him in federal prison for 40+ years.
But, Dave's lawyers carved out a plea deal with the court, based on which Dave pleaded guilty to misdemeanor charges in January 2019. He admitted to violating rules of record-keeping and procedures and agreed to more than $550,000 in related civil forfeiture. He also had accepted a plea deal in a Las Vegas court.
In the final hearing, US District Judge Jennifer Dorsey decided on much lighter punishments. She ordered Dave to serve three years of probation instead, along with gambling counseling, and 150 hours of community service.
In addition to these court rulings, the ruling also banned him from sportsbooks in Nevada for three years. Previously in 2016, many popular sportsbooks, including Westgate, MGM, and William Hill, had banned him from betting. Additionally, Cantor Gaming had limited his bets to $20 thousand only.
What is Vegas Dave Doing Now?
His reported website, Itsvegasdave, mentions that he has now retired from being "one of the elite sports handicappers of this era." The website mentions that Dave is now a sports betting consultant leading his company, "Vegas Dave consulting LLC."
According to the website, he provides membership packages to clients "all over the world."
(Note: If you visit Itsvegasdave after reading this article, you are doing it at your own risk. We inform you that the status of the website's webpage security is "Not Secure." )
Vegas Dave Recently Made Millions on Mike Trout Baseball Card
Casino reports that Dave sold a rare Mike trout baseball card for $3.93 million in an auction conducted by Goldin Auctions. The reports state Dave initially purchased the card for $400,000 in 2018.