New Jersey regulator orders bet365 to pay out over odds changes
The New Jersey Department of Gaming Enforcement has ordered the company to pay out more than $500,000.
US.- The New Jersey Division of Gaming Enforcement (NJDGE) has ordered bet365 to pay out more than $500,000 to player accounts after finding the sportsbook had changed the odds offered on events. The action resulted from a routine audit and investigation.
Between December 2020 to November 2022, bet365 was found to have revised odds for “a significant number of bets” on 13 sporting events without seeking or receiving NJDGE approval. New Jersey gaming law stipulates that operators must notify the regulator before voiding a bet. 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.”
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In July, the New Jersey Division of Gaming Enforcement (DGE) fined DraftKings $100,000 for reporting inaccurate sports betting data, which the regulator said amounts to “gross errors and failures.” The reporting errors resulted from DraftKings overstating the amount of money that had been wagered on parlay bets as well as understating other categories of wagers. The inaccurate data caused Resorts Digital, the online arm of Resorts Casino, to file incorrect sports betting tax returns for December 2023 and January and February 2024.
