- Patel stole $22m from the Jaguars through their virtual credit card system
- But FanDuel is unwilling to reimburse the NFL team for any of the stolen funds
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The Jacksonville Jaguars have asked FanDuel to return either some or all of the $20million a former employee lost on the betting site after stealing funds from their virtual credit card, according to reports.
Amit Patel, a former financial manager for the Jaguars, pleaded guilty to stealing $22m through a virtual credit card system used for expenses in Jacksonville at a Florida court back in December.
As well as placing a series of big-money online bets, Patel was accused of using the stolen funds to buy two vehicles – a Tesla and Nissan pickup truck – a condominium in nearby Ponte Vedra Beach, a designer watch for $95,000 and cryptocurrency.
According to ESPN, he lost approximately $20m of the money on daily fantasy and sports bets on FanDuel, who are said to have assigned him a VIP host.
Patel is also believed to have lost $1m on rival betting site DraftKings.
The Jacksonville Jaguars have reportedly asked FanDuel to return either some or all of the $20million in stolen funds a former employee lost on the betting site
![Amit Patel, a former Jaguars financial manager, pled guilty to stealing $22m from the franchise](https://i.dailymail.co.uk/1s/2024/02/03/03/78692657-13040363-Amit_Patel_a_former_financial_manager_for_the_Jacksonville_Jagua-a-52_1706931477007.jpg)
Amit Patel, a former Jaguars financial manager, pled guilty to stealing $22m from the franchise
Though despite calling for the company to reimburse them for the $20m in stolen proceeds, FanDuel is unwilling to pay any money back to the Jaguars.
While discussions between the two parties are ongoing, a source is quoted as saying: ‘The way they [FanDuel] see it… we got this money fair and clear. It’s not our problem that we have to forfeit it back to you.’
The source went on to add that they would be ‘gobsmacked’ if FanDuel reimbursed the Jaguars for the funds stolen by Patel.
After pleading guilty, Patel faces up to 30 years in prison and a $500,000 fine when he is sentenced in March.
Federal court documents alleged that he siphoned the funds over a three-and-a-half-year period, before the NFL was alerted to his betting by FanDuel in January 2023.
The Jaguars are understood to have had no knowledge of the embezzlement scheme or Patel’s gambling habit until they were notified by the NFL.
Under federal law, FanDuel has an obligation to ensure funds used on their site are legally obtained, with extra due diligence required for bets which outweigh the customer’s income.
Patel’s attorney, Alex King, said in a statement that his client suffers from addiction and that ‘approximately 99% of the funds misappropriated from the Jaguars’ VCC were gambling losses’. The lawyer also said his client is ‘deeply remorseful’ and is receiving treatment for his addiction.
ESPN reported at the end of last year that since 2017 Patel – playing under the name ParlayPicker – bet nearly $500,000 on fantasy tournaments across the NFL, Major League Baseball, PGA Tour and UFC.
![But FanDuel is unwilling to reimburse the Jaguars for any of the funds stolen by Patel](https://i.dailymail.co.uk/1s/2024/02/03/03/80800763-13040363-image-a-53_1706931502243.jpg)
But FanDuel is unwilling to reimburse the Jaguars for any of the funds stolen by Patel
He would play on FanDuel and DraftKings and Patel soon made a name for himself for heavy losses and rookie mistakes within gambling circles.
As his reputation for recklessness spread, other players would reportedly seek out games against him. One gambler believes ParlayPicker, might be ‘the biggest loser ever on FanDuel.’
‘He was legendarily bad,’ they said.
Fellow bettors told ESPN that they believe his biggest losses came via high-stakes games that he regularly entered – against elite opposition, with a buy-in of more than $24,000.
‘He came out of nowhere,’ one bettor told ESPN. ‘I remember having side conversations with some of my friends, who were like, “Who is this guy? And what is he doing?”‘
Fellow gamblers noticed Patel would pick players who weren’t in the starting lineup. Occasionally he wouldn’t even submit a team – despite paying a $3,000 buy-in – one claimed.
According to ESPN, the last recorded tournament ParlayPicker entered was the world golf championship on DraftKings. That was back in July – five months after he was fired by the Jaguars. The buy-in was $29,000 and ParlayPicker finished tied 129th out of 150.