Following an audit of Bet365, the New Jersey Division of Gaming Enforcement (DGE) has mandated the operator to refund $519,323.32 to 199 bettors due to extended revisions of odds over several events. The DGE communicated its findings to Bet365 in a detailed letter, outlining the errors associated with 13 games dating back to 2020.
DGE Cites Violations in Bet365’s Odds Management
In the letter, Bet365 defended its practices, asserting that the erroneous odds posted were “an obvious error.” However, the company is required to obtain prior approval from the DGE before making any changes to odds, a protocol they neglected to follow. The DGE emphasized that Bet365 had “failed to comply” with state regulations, having revised odds on accepted wagers without necessary regulatory consent.
The DGE noted that the operator’s internal software and manual trading errors contributed to the inaccuracies in its data feeds. This failure raised concerns about Bet365’s capacity to conduct online gaming reliably, thereby compromising the integrity of its operational systems. As a result, the misleading information affected patrons’ betting experience and led to incorrect payouts.
The regulator stressed that these violations represent a “prolonged and unacceptable course of conduct” that contravenes the policies outlined in the Casino Control Act and will not be tolerated.
Overview of Affected Events
The discrepancies identified by the DGE spanned various sports, including NFL games, college football, basketball, baseball, and even The Masters golf tournament and MMA events. Among the notable incidents was a game between the New York Jets and New England Patriots on December 30, 2020, which involved 21 wagers from 18 patrons. The DGE reported that Bet365 unilaterally altered the odds on these wagers after payouts had been made.
The most recent issue occurred during a November 2022 NFL matchup between the Green Bay Packers and Tennessee Titans, where Bet365 paid out seven bets placed by four customers but failed to honor an eighth wager due to another “obvious error.”
The DGE is committed to ensuring that regulators act in good faith toward customers, reinforcing the importance of maintaining integrity in the betting industry.
Source : https://www.playnj.com/news/state-regulators-order-bet365-refund-more-than-500-thousand-winning-bettors/82487/
