New Jersey Regulator Orders Bet365 to Compensate Bettors Over Odds Alterations
The New Jersey Division of Gaming Enforcement (DGE) has mandated that Bet365 compensate bettors a total of $519,323.32 for 199 winning wagers placed between December 2020 and November 2022. This directive follows findings that Bet365 altered odds on various sporting events without notifying the state regulator.
Background of the Incident
According to a routine audit conducted in April 2022, the DGE discovered that Bet365 had “unilaterally revised odds” for a significant number of wagers it had previously accepted.
Bet365 justified the changes by stating that the original odds posted during 13 sporting events were “incorrect” and constituted an “obvious error.” The company cited its House Rules, which allow for adjustments due to “human or technical error or issues outside our control.”
The DGE emphasized that Bet365 is prohibited from voiding any wager without prior approval from the Division. The regulator’s letter highlighted that failures in Bet365’s internal software, coupled with manual trading errors, led to inaccurate data feeds.
Compliance and Penalties
Bet365 was instructed to pay the affected bettors their winnings based on the original odds within 10 days of the letter dated July 22.
The DGE also ordered Bet365 to submit a comprehensive report detailing all errors and steps taken to rectify internal software failures and manual trading inaccuracies.
Mary Jo Flaherty, the DGE’s interim director, stressed the severity of these violations, stating, “These types of multiple and serious violations cannot be tolerated in the New Jersey gaming regulatory system.” Flaherty warned that any further infractions could result in penalties reflecting the nature and extent of Bet365’s conduct.
Recommended