New Jersey Gambling Regulators Fine Bet365 $33K For Taking Bets After Outcomes Were Known

New Jersey gambling regulators have levied a $33,000 fine on sports betting company bet365 for taking wagers on events in which the outcome was already known, and on games that were not approved for betting.

New Jersey Division of Gaming Enforcement said bet365 accepted bets on multiple games that had already concluded

The state Division of Gaming Enforcement (DGE) revealed Wednesday that bet365 had several instances in which it mistakenly accepted bets on games in which a particular event had already ended.

In one case, the sports betting company accepted bets on a mixed martial arts match that had already been held a week earlier. It was the second disciplinary action New Jersey regulators took against the British company in just over two months.

In July, the gaming enforcement division ordered bet365 to refund $519,000 to customers who won bets but were paid less than they were entitled after the company unilaterally changed the odds when making the payouts.

According to the DGE’s letter sent out to bet365 on July 22, the company failed to comply with N.J.A.C. 13:69D-2.3 and N.J.A.C. 13:69N1.9(q) and accepted wagers on what the sports betting operator claimed were “incorrect odds.”

N.J.A.C. 13:69D-2.3 states that a “casino licensee shall ensure all software utilized works as intended and functions properly in compliance with the Division’s rules prior to installation.”

Bet365 changed the odds due to “obvious error,” the sportsbook told New Jersey gambling regulators

N.J.A.C. 13:69N1.9(q) also requires licensees to have “controls in place to review the accuracy and timeliness of any data feeds used to offer or settle wagers.”

Bet365 told New Jersey regulators they changed the odds due to “obvious error.”

However, the acting head of the enforcement division said that any company wanting to void or alter a payout must seek approval from the agency before doing so. Bet365 failed to do so.

Bet365 reportedly accepted bets for 13 sporting events on what they claimed were “incorrect odds” from December 2020 through November 2022.

The event with the highest number of bets taken was at an NCAA basketball game on Nov. 17, 2021. The matchup was between BYU and Oregon.

Bet365 took 63 bets from 18 patrons, of which 59 bets won

The operator accepted 63 bets from 18 customers, of which 59 bets won. The sportsbook revised the odds for all winning wagers on the event after being paid out.

On Feb. 3, 2022, the start time of a college basketball game between Louisiana-Lafayette and Arkansas-Little Rock was moved up by an hour. Though, pre-match odds remained in place.

Pre-match odds were available two weeks later on a Honda Golf Classic event for four hours after it had started. That same day, bet365 accepted bets on two mixed martial arts fights after they had concluded.

In April of that year, bet365 took wagers on a Professional Fighters League match that had already been held a week earlier. The sportsbook failed to confirm that the event had already taken place.

Sportsbook accepted wagers on unapproved events

Bet365 also took bets on unapproved events. This included European friendly soccer matches that were not approved for betting by New Jersey gambling regulators. The company accepted wagers on the Rutgers University football team as well.

Betting is prohibited on New Jersey college teams. In most cases, bet365 voided the bets, totaling over $257,000, and returned the money that had been wagered to customers. But in one case, it unilaterally changed the odds before paying off winning bets without getting approval from regulators.

Bet365 offered several explanations to regulators for the mistakes. The company also cited human error in incorrectly loading event start times into the betting applications it used. It said software did not function as designed in some cases.

According to The Associated Press, bet365 told regulators it has retrained workers.