Massachusetts regulator fines Fanatics
Fanatics had accepted bets on an in-state college football team.
US.- The Massachusetts Gaming Commission (MGC) has fined Fanatics $20,000 for accepting bets on an in-state college football team. The commission voted 4-1 in approval of the measure.
The state does not allow bets on college sports teams, unless they are playing in a national tournament, but Fanatics self-reported 83 wagers totalling $3,325.88 on a Boston College vs. Michigan State game on September 21, 2024. The company said a trading team member had erroneously disabled the sportsbook’s block on the game. Fanatics invalidated the losing wagers and paid out on the winning bets.
The MGC recently warned licensed sports wagering operators that offering sports-related event contracts is prohibited. The regulator sent letters reinforcing its position after several licensees announced plans to enter the prediction market space and has given operators 10 business days to outline in writing how they will ensure compliance with the notice.
