Sports betting operator New Jersey bettors more than $500,000, according to the New Jersey Division of Gaming Enforcement.
The DGE sent bet365 a letter on July 22 saying the betting app owes $519,323.32 for 199 winning wagers from December 2020 to November 2022. The operator shifted odds on wagers due to what it called “obvious errors” but the DGE didn’t approve the odds changes. Bettors were paid out via the revised odds, rather than the original odds.
As a result, the regulator ordered bet365 to pay its customers winnings related to the original odds, not the changed odds. Bettors have likely received their winnings since the time the letter was sent, as bet365 had 10 days from the time of the letter to pay the bettors.
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The DGE’s letter included stern language directed toward the operator. The regulator was particularly frustrated by the volume of violations over the two-year period.
“These types of multiple and serious violations cannot be tolerated in the New Jersey gaming regulatory system,” Mary Jo Flaherty, the DGE’s interim director, said in the letter.
Flaherty went on to say “no further such violations related to the unilateral voiding of wagers will be tolerated.” Flaherty warned that any future violations would lead to more disciplinary action.
Not all state regulators require betting apps to receive regulatory approval for odds changes when there’s an “obvious error.” New Jersey’s regulations surrounding odds shifts or voided bets related to “obvious errors” are unique when compared with other states, which likely played a role in bet365’s repeated violations.
