The ex-Toronto Raptors center entered his plea during his arraignment in a New York federal court and is set to be released on a $250,000 bond.

Porter's lawyer previously stated that he was cooperating with authorities while seeking treatment for a gambling addiction. Court documents revealed that Porter's case is connected to the ongoing prosecution of four other individuals. These individuals, who have been charged with conspiracy to commit wire fraud, allegedly profited from insider information provided by an NBA player, enabling them to place highly successful bets against the player's performance in two specific games.

While the complaint did not disclose the identity of the player involved, the details matched the findings of an NBA investigation that led to Porter's expulsion from the league earlier this year. The investigation revealed that Porter engaged in gambling on NBA games and shared confidential information about his health with bettors.

During his court appearance, Porter acknowledged that he agreed to exit games early in order to alleviate his significant gambling debts, allowing him and his co-conspirators to profit from bets against his performance. He expressed remorse, stating, "I know what I did was wrong, unlawful, and I am deeply sorry."

Porter is scheduled to be sentenced on December 18 and could face a prison term ranging from just under three and a half years to a little over four years. Additionally, he is likely to be ordered to pay hundreds of thousands of dollars in restitution, along with potential fines.

According to the complaint, one of the four individuals involved pressured the player to withdraw from games prematurely to settle his gambling debts. The player responded by indicating that failure to comply would result in physical harm. The complaint further revealed that Porter withdrew from games on January 26 and March 20, citing injury or illness, after only a few minutes of play. His performance in both games fell below sportsbooks' expectations.

The NBA investigation also exposed that Porter not only exited games for the sake of gamblers but also placed bets on NBA games in which he did not participate. It was even revealed that he once bet against his own team.

Porter, who played a total of 26 games this season, averaged 4.4 points, 3.2 rebounds, and 2.3 assists. He had also appeared in 11 games for the Memphis Grizzlies during the 2020-21 season. Prior to his ban, Porter's NBA salary amounted to approximately $410,000.

As the sentencing date approaches, Porter's guilty plea highlights the serious consequences of engaging in fraudulent activities connected to the integrity of professional sports and the importance of maintaining fair competition in the industry.