New Jersey regulator fines bet365 $33,000
The sports betting operator was fined for taking wagers on events with known outcomes.
The New Jersey Division of Gaming Enforcement (NJDGE) has issued $33,000 in fines against operator bet365, according to a recent Associated Press report.
The New Jersey regulator said the fines were for taking bets on non-approved games and “on events in which the outcome was already known.”
The state reported that bet365 accepted wagers on two mixed martial arts fights after they had occurred.
In another instance, the brand left its pre-match odds in place for a college basketball match between Louisiana-Lafayette and Arkansas-Little Rock, even though the start time was moved up by an hour.
More than 90 million users across 160 countries and 22 languages represent the bet365 customer base.
This is not the first time the company has been fined by the NJDGE.
The regulator recently issued an action in lieu of complaint against bet365 and has ordered the company to pay more than $500,000 to player accounts.
The action was the result of a routine audit and investigation that was conducted in April 2022. The audit covered a timeframe from December 2020 to November 2022.
During the time period in question, the NJDGE found that bet365 had accepted bets based on “incorrect odds” and had “unilaterally revised odds” during 13 sporting events without regulatory approval.
As a result, the regulator determined that the operator must “pay wagers at originally posted odds rather than unilaterally corrected odds and further ordered the company to restore a total of $519,323.32 to 199 patron accounts.”
In its defense, bet365 claimed it could revise these particular odds for the events because the odds had been posted “in obvious error.”
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
