A failed sports bet is now part of a major federal investigation. Damon Jones, a former Cleveland Cavaliers player and assistant coach, is accused of selling inside information that turned out to be completely wrong.
According to court documents, Jones accepted $2,500 for a tip about a Lakers game. The information was supposed to give bettors an unfair advantage.
The incident involved a January 2024 game between the Los Angeles Lakers and the Oklahoma City Thunder. Jones allegedly told associates that “one of the Lakers’ best players” would have limited playing time due to an injury.
LeBron James was reportedly the player Damon Jones used inside info about before a Feb. 2023 Bucks–Lakers game, per @TheAthletic
Jones allegedly told others to bet on Milwaukee after learning LeBron would sit out with ankle soreness — before it was on the injury report. pic.twitter.com/Bop5TvVf76
— NBACentral (@TheDunkCentral) October 23, 2025A bettor used this information to place a $100,000 wager against the Lakers. However, the tip was disastrously incorrect. The Lakers won the game. Their star players, including LeBron James and Anthony Davis, all played their usual high number of minutes and scored heavily.
Read: Stephen A. Smith Suggests Trump Behind NBA Game-Rigging Scandal
After the loss, the bettor allegedly demanded his $2,500 back. Jones reportedly insisted his information was credible. The failed tip is part of a larger FBI probe into sports betting and poker. Jones was arrested alongside two other former NBA figures.
Now they wanna make you believe that Damon Jones isn't one of LeBron's closest buddies.
It's a lie.
They been tight for 20 years. Top pic is from 2010, 2 days before "The Decision." Bottom pic is the day of "The Decision". D Jones wasn't just LeBron's teammate, that was his… pic.twitter.com/H3dhuuuH1x
— Apex Jones (@ApexJones22) October 24, 2025The investigation alleges that Jones had better luck with a different tip in 2023. That successful tip is also part of the case against him.
The situation serves as a stark example of the risks and potential legal consequences of using insider information for gambling
