After being selected fourth overall in the 1982 NFL Draft by the Baltimore Colts, Art Schlichter's professional career took a definite turn for the worse. Schlichter lost the starting job to Mike Pagel and reportedly spent the next few years gambling on non-Colts NFL games.
In 1983, after going to the FBI when bookies threatened to expose him for nearly $400,000-worth of gambling losses, Schlichter was suspended indefinitely. He was reinstated just a year later but released by the Colts in 1985 after rumors surfaced that he had resumed gambling.
In 1987, Schlichter was arrested in New York City and later pleaded guilty to illegal gambling in a multimillion-dollar sports betting ring. He filed for bankruptcy the following year.
Later, during 10 years spent behind bars, he once reportedly was caught gambling in prison and spent four months in solitary confinement.
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