The New Jersey regulator has issued an order to Bet365 to pay out over $519,000 for voided bets, marking a repeat offense for the UK-based online gambling firm. This recent incident comes after a similar situation last year, where Bet365 had to pay out $13,776.25 for voiding 101 bets. Despite claiming that they offered incorrect odds, the regulator has demanded that Bet365 honor the 199 voided bets in New Jersey.
The New Jersey Division of Gaming Enforcement (DGE) sent a letter to Bet365 on July 22, requesting payouts for 13 sporting events that took place between December 2020 and November 2022. It seems that the DGE caught Bet365 during a routine audit in April 2022, where they discovered that the UK brand had unilaterally changed odds for a significant number of wagers without seeking approval.
While some states allow operators to void bets with obvious errors, the DGE in New Jersey typically requires operators to honor all bets taken at any odds. Despite Bet365’s attempt to blame internal software failures and manual trading mistakes for the incorrect odds, the DGE was not convinced. Interim Director Mary Jo Flaherty stated that these failures were problematic for Bet365’s ability to conduct online gaming and raise concerns about the integrity and reliability of its operational systems.
Bet365 offered the incorrect odds on a variety of sporting events, ranging from a table tennis match on Christmas Day 2020 to an NFL game in November 2022. Flaherty issued a strong warning to Bet365 in the DGE’s letter, emphasizing that these violations cannot be tolerated in New Jersey and have a negative impact on Bet365’s business abilities and the overall casino experience. She also noted that Bet365’s conduct in dealing with regulations was impermissible.
Overall, this recent order from the New Jersey regulator serves as a reminder to online gambling firms like Bet365 to adhere to regulations and honor bets, regardless of any errors or mistakes that may occur. Failure to do so can result in significant financial penalties and damage to the company’s reputation. Bet365 will need to address these issues and ensure compliance with the DGE’s requirements to avoid further consequences in the future.