5Dimes, the iconic outlaw sportsbook, has negotiated a settlement with the US Department of Justice that includes the forfeiture of funds, the admission of wrongdoing, and a possible entry into the regulated US sports betting market. It’s a major move that could significantly alter the landscape of sports betting in the United States.
According to a press release, the deal with the DOJ has 5Dimes owner Laura Varela ponying up a whopping $46.8 million to settle the score for accepting illegal wagers from US players. Varela is the widow of 5Dimes founder William Sean “Tony” Creighton. Creighton was murder in 2018 during a kidnapping.
“It has been a very difficult two years for me and my family. But today marks a pivotal turning point and a fresh start for me and the 5Dimes brand, as well as a milestone for the legalization of sports gaming in the U.S. My husband’s death was tragic, but he loved 5Dimes and all of its loyal customers. Now his spirit will be able to live on as the 5Dimes brand begins this new chapter,” she said.
As part of the deal, Varela will be giving up assets (the $46 million) that were the proceeds of illegal activities. It’s important to note that Varela was not ever a party to illegal activities herself. That’s worth noting because she’s also now eligible to bring the 5Dimes brand to the regulated US market.
“Along with a team of trusted advisors, I am exploring how we might relaunch 5Dimes as a legal sportsbook and casino in the legal, regulated U.S. market to continue serving our many loyal customers,” Varela said in a statement on PR Newswire.
So watch for 5Dimes at a regulated US sports betting market near you.