Vegas Man arrested for "Guaranteed" Gambling System

One of the best tips in gambling is to stay away from buying betting systems. And Mark Georgantas recently reinforced this tip after he was arrested for selling a bogus “guaranteed” gambling system.

The 53-year-old is charged with two counts of securities fraud after promising bettors that they would earn profits from his guaranteed system. The alleged fraud ran from July 2013 to March 2014, when Georgantas began hawking his betting system to the victims.

According to Las Vegas News 3, the conman received a $300,000 payment from one victim and a $50,000 payment from another.

Nevada Attorney General Adam Paul Laxalt has taken up the case, and he issued a warning to other Silver State residents to avoid being fooled by such scams.

“My office is committed to ensuring that Nevadans are protected from unscrupulous investment schemes,” Laxalt said in a press statement. “I encourage Nevadans to be skeptical of investment offers that claim to guarantee profits, and to report any suspicious activity to my Office.”

Georgantas will begin court proceedings on April 4th, appearing before a judge at the Eighth Judicial District Court.

Thanks to more information that’s become available through the internet/mobile devices, people are less likely to fall for nefarious betting systems, provided they do a little research beforehand. Unfortunately, there are still fraudsters who are skilled enough to convince unsuspecting people that they have guaranteed betting systems. In one instance, Georgantas was able to convince somebody to give him $300k for his system.

But the key thing to understand here is that no gambling system has ever been devised that will help you consistently beat fixed-odds casino games. No matter how complicated the math is behind a system, it can’t overcome the house edge.

The only way to consistently beat casino games is by becoming an advantage player in baccarat (edge sorting), blackjack (card counting), roulette (wheel bias) or video poker (positive expectation games). But even in these instances, beating the house requires the perfect opportunity combined with incredible skill.