32-year-old Michael Pryde faces sentencing for defrauding $1.2m from victims via his "foolproof" sports-betting scheme, Simply The Bets.

32-year-old Michael Pryde faces sentencing for defrauding $1.2m from 20 victims through his "foolproof" sports-betting scheme, Simply The Bets. Despite the scheme's financial failure, Pryde invited friends and family to gamble their money, losing over $1m. His self-made algorithm promised big wins for participants betting on golf, horse racing, basketball, and baseball, but the profits were never guaranteed. Pryde will be declared bankrupt ahead of sentencing.