FanDuel Fined $125K in Iowa for Betting Violations

Illegal Bets and Missing Safeguards

FanDuel faced five violations in a short period, leading to the hefty fine. The company allowed unapproved bets on events like the Super Bowl, golf matches worth $89,000, football games, and Olympic events totaling $62,000.

These included “prop bets” that needed special Commission approval, which FanDuel didn’t secure. The biggest chunk of the fine, $30,000, came from FanDuel’s failure to maintain working responsible gaming tools, with the Commission noting delays in reporting the issue.

Chairman Daryle Olsen said, “Five counts within a very short period of time is just too much… we expect more,” emphasizing that FanDuel, a top operator in Iowa, must meet higher standards.

FanDuel’s Response and Fixes

Ben Roth, FanDuel’s spokesperson, owned up to the mistakes, stating, “We take responsibility for the matters… and understand that we did not meet the high standard that we hold for ourselves.”

The company refunded affected customers and gave up all profits from the illegal bets. To prevent future slip-ups, FanDuel rolled out more staff training, detailed checklists, and automated systems to cut down on human errors.

Roth added, “FanDuel has addressed each issue by ensuring that no impacted customer has been adversely affected… and FanDuel has disgorged itself of any resulting revenue.”