That’s why they call it gambling. Damon Jones, a former Cleveland Cavaliers player and one-time assistant coach, allegedly accepted $2,500 for inside information that completely backfired – and now, it’s part of a federal case.
According to court documents, Jones told associates that “one of the Lakers’ best players” would play limited minutes due to injury during a January 15, 2024, matchup between the Los Angeles Lakers and the Oklahoma City Thunder.
The information reportedly came from a Lakers trainer, and Jones passed the tip, to co-defendant Eric “Spook” Earnest, who relayed it to bettor Marves Fairley. Fairley then placed a $100,000 wager against the Lakers.
Jones used to pass tips to the betting ring
But the so-called inside info was disastrously wrong. The Lakers won 112-105 – with LeBron James logging 39 minutes and 25 points, Anthony Davis adding 27 in 38 minutes, and D’Angelo Russell contributing 14 in 36 minutes.
After the loss, Fairley allegedly demanded the $2,500 back, but Jones reportedly insisted he had “credible non-public information” and never confirmed returning the payment. Court filings also suggest that Jones had better luck with another tip.
While serving informally with the Lakers, he allegedly texted a member of the betting ring ahead of a February 9, 2023, game against the Milwaukee Bucks, urging them to “get a big bet on Milwaukee tonight before the information is out!” LeBron James sat out that game, and Milwaukee covered the spread in a 115-106 win.
Investigations into Jones continue
Jones was arrested Thursday alongside two other former NBA figures – Miami Heat guard Terry Rozier and Portland Trail Blazers coach Chauncey Billups – as part of an FBI probe into sports betting and poker rigging schemes.
Rozier allegedly helped bettors cash in on his own statistical “Unders,” while Billups is accused of participating in fixed poker games. As the investigation unfolds, Jones’ ill-fated Lakers tip may become the prime example of how risky – and costly – insider “knowledge” can be.
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