Two charged over 'NBA betting scam' worth $400k

Two Sydney men have been charged over an alleged NBA betting scam.

While employees of a gambling company, the pair allegedly accessed the betting system and inflated odds without authorisation on five occasions between October 29 and November 17 last year.

Police claim that while the odds were inflated, 10 bets were placed which could have returned more than $400,000.

Reports of unauthorised access to the betting system were first made in November last year, prompting extensive investigations, police said.

The two 24-year-old men, who were also suspended by the gambling company in November, were arrested at homes in Ryde and Marsfield at 9am yesterday.

The Ryde man was charged with dishonestly obtain financial advantage by deception, three counts of unauthorised function with intent to commit serious offence, nine counts of attempt to dishonestly obtain financial advantage by deception, and knowingly participate in a criminal group assist crime.

The Marsfield man was charged with two counts of unauthorised function with intent to commit serious offence, eight counts of attempt to dishonestly obtain financial advantage by deception, and knowingly participate in a criminal group assist crime.

They were bailed to attend court on March 26.

The investigations continues and police expect to lay further charges.

Anybody with information is urged to contact Crime Stoppers on 1800 333 000.