In an interview with New Yorker writer Nick Berardini, a former Missouri Tigers basketball player like Porter, the ex-Toronto Raptors guard outlined an eye-opening addiction to sports betting. It led Porter down a path that ultimately saw him committing criminal acts.
Porter's gambling habits began in 2021 while he was playing for the Memphis Hustle of the NBA G League. He started innocently enough, playing online casino games and doing some day-trading. Then he moved on to sports betting. Porter's gambling addiction escalated quickly.
His first wager was $125,000 on the Kansas City Chiefs to beat the Baltimore Ravens in an NFL game. The Chiefs blew an 11-point lead, losing the game and Porter's bet.
“I deleted the app, suspended my account that night," Porter told
The New Yorker.
"The next morning, I was mad and came back for vengeance.”
Over four days, he placed 144 wagers for a total outlay of $1.2 million.
Porter lost millions of dollars betting on sports
Making use of Porter's betting data, The New Yorker was able to track his betting habits. The estimate they came up with is that Porter wagered over $50 million at FanDuel in 18 months.
“I think you’re addicted to the thrill of the in between, when you don’t know if it’s going to win or lose,” Porter said. “Just that suspension where your whole outcome is in question.
"You win, and it’s like ‘Great, I can keep going now.’ It feels really good for a second, but you want that feeling again.”
Porter took out a $500,000 loan on his Memphis home to fund his gambling habit. He bet on everything, at one point winning $1 million wagering on Russian table tennis. Porter lost all that money and $400,000 more by the time that betting spree was over.
His gambling debts led to Porter rigging an NBA game
Porter was so far in debt from his gambling addiction that he agreed to take part in an NBA betting scheme. Porter would manipulate his stats in a particular game with the Raptors to benefit bettors who would place wagers on his player props for that game.
The projected winfall for those bettors would've been $1 million. However, the scandal was unearthed. Porter wound up pleading guilty to conspiracy to commit wire fraud in the gambling scandal. As part of his conviction, he will owe an estimated $456,000 in fines and restitution. He could also face up to 20 years in prison.
Yet he looks upon this low point in his life as a turning point.
“I’m glad all that stuff happened with the NBA,"
Porter said. "Getting banned and the public shame and all my dirty laundry out on the table.
“If I didn’t lose my NBA job, I would have lost my wife, I would have lost my family support, I might have even lost my life.”
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