We're Taking Bets on Former Cavaliers Player Damon Jones's Net Worth — Let's Take a Look

When it comes to team-hopping, former NBA player Damon Jones has worn his fair share of uniforms. During his professional basketball career, Jones played for 10 different teams. That's a lot of jerseys! For someone who liked to travel outside of actual travel games, Jones was pretty good at his job. In the 2004 to 2005 season, he was ranked third in the NBA in three-point field goals made. That's not bad.

After he officially retired, Jones shifted into coaching. In 2014, he became part of the coaching staff for his beloved team, the Cleveland Cavaliers. Jones was brought in as LeBron James's shooting coach. It didn't hurt that the two former teammates were already friends. When James left for Los Angeles, Jones followed, though not in an official capacity. Since then, Jones has been implicated in an alleged sports betting scheme. Now people are wondering about his net worth. Here's what we know.

According to Celebrity Net Worth, Jones' net worth is $7 million. Jones left the University of Houston early but was not drafted. In an Instagram post, sports commentator Skip Bayless said Jones had to fight his way into the NBA. He played a season with the Miami Heat, where Jones dominated the court, resulting in the best statistical season of his career.

Jones signed a four-year contract with the Cleveland Cavaliers, where he played from 2005 until 2008. In 2007, he was selected to participate in the Three-Point Shootout during the 2007 All-Star Weekend in Las Vegas, where he finished in fifth place. He was traded to the Milwaukee Bucks in 2008 and lasted a year. This was his last stint with an NBA team. After that, Jones bounced around internationally before retiring in 2012 following a season with the Reno Bighorns.

Jones, along with five other co-defendants, has been charged in connection with a "wire fraud conspiracy and money laundering conspiracy for their alleged roles in a scheme to use inside information from National Basketball Association (NBA) players and coaches to profit from illegal betting activity," per the U.S. Attorney's Office for the Eastern District of New York.

Jones and former and current NBA players and coaches allegedly shared confidential information with each other and others. This included pre-release medical information and a player’s intention to alter their upcoming game performance. The aforementioned information favored bettors within their inner circle.

Christopher G. Raia, Assistant Director in Charge, FBI, New York Field Office, said, "This alleged collusion resulted in the defendants secretly pocketing their lavish winnings and corrupting NBA games." He went on to say the "FBI will never turn a blind eye to any insider betting scheme within sporting industries – regardless of title or professional affiliation – to protect its integrity and afford all participants a fair chance to win big." If convicted, Jones faces up to 20 years in prison for each charge.