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Off-Track Betting System Hacked for $3 million
Posted by James Grimmelmann on Friday, November 01 @ 14:13:16 EST Computer Crime
Derrick Davis got lucky in a big way last Saturday. He bet $1,152 on the Breeder's Cup, successfully picking the winning horses in the first four races on a combination bet paying off at over 2,000 to 1.

Unfortunately for Davis, it looks like he had some help on the inside. Specifically, because bets phoned in to regional OTB offices are uploaded to the main OTB computer in delayed batches, the main OTB branch relies on the timestamps logged with bets at the reional offices to avoid fraudulent bets placed after the fact. OTB is claiming that one of their employees -- and they think they know who -- logged in and altered the timestamp on Davis's (late) bet to make it appear legit. Everyone involved is referring all questions to the lawyers.

The New York Times has the story (Worked Dismissed as Inquiry Widens Into Big Racing Bet).

 
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