New Jersey gambling regulators fine sports betting company $33K for accepting bets after results were already determined.

September 6, 2024

Author: Maria Dimitrova

New Jersey gambling regulators have imposed a $33,000 fine on sports betting company bet365 for accepting wagers on events where the outcome was already determined and on games that were not authorized for betting.

The state Division of Gaming Enforcement disclosed on Wednesday that bet365 had repeatedly taken bets on games in which a particular outcome had already occurred. In one instance, the company accepted bets on a mixed martial arts match that had taken place a week earlier and was being broadcast on tape.

The company did not respond to requests for comment on Thursday and Friday.

This is the second time in just over two months that New Jersey regulators have disciplined the British company. In July, the Division of Gaming Enforcement ordered bet365 to refund $519,000 to customers who had won bets but were underpaid due to the company unilaterally changing the odds at payout. Bet365 attributed the error to “obvious error,” but regulators noted that any company seeking to void or alter payouts must first get approval from the agency, which bet365 failed to do.

The latest fine relates to incidents beginning on February 3, 2022, when the start time for a college basketball game between Louisiana-Lafayette and Arkansas-Little Rock was moved up by an hour, but pre-match odds remained available. Similar errors occurred two weeks later during the Honda Golf Classic, where pre-match odds were posted for four hours after the event had already begun.

On the same day, bet365 accepted bets on two mixed martial arts fights after they had concluded. In April, the company took wagers on a Professional Fighters League match that had already occurred a week earlier.

Bet365 also accepted bets on unapproved events, such as European friendly soccer matches and on the Rutgers University football team, despite betting being prohibited on New Jersey college teams.

In most cases, bet365 voided over $257,000 worth of bets and refunded the money to customers. However, in one instance, it changed the odds before paying out winning bets without obtaining approval from regulators. The company explained the errors were due to human mistakes in loading event start times into their betting system and software malfunctions. Bet365 told regulators it has since retrained its staff.

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