Bet365 fined $33K for accepting bets on pre-determined outcomes

New Jersey gambling regulators have slapped Bet365 with a $33,000 fine for accepting bets on events where the outcomes were already known or on unapproved matches. The British-based sports betting giant, which operates globally, was found guilty of several incidents where wagers were placed after events had concluded or without proper regulatory approval.

According to the New Jersey Division of Gaming Enforcement, the incidents date back to February 2022. One of the most significant violations occurred during a college basketball game between Louisiana-Lafayette and Arkansas-Little Rock. The match had its start time moved up by an hour, yet Bet365 continued accepting pre-match bets as if the game had not yet begun.

Similar issues arose in other sports. Bet365 allowed wagers on a Honda Golf Classic event hours after it had started, and on two mixed martial arts fights after they had concluded. In an April 2022 case, bets were taken on a Professional Fighters League match that had occurred a week earlier, which was only available as a taped broadcast.

Pattern of errors and regulatory infractions

Compounding the problem, Bet365 also accepted bets on events that were not approved by New Jersey regulators. These included European friendly soccer matches and even games involving Rutgers University’s football team, despite betting on New Jersey college teams being strictly prohibited by law.

In total, the company voided over $257,000 worth of bets, returning the funds to affected customers. However, Bet365’s mishandling of odds on some bets without proper regulatory approval triggered additional scrutiny.

This marks the second time in just over two months that New Jersey regulators have taken action against Bet365. In July, the company was ordered to refund $519,000 to customers who were shortchanged on payouts due to Bet365’s unilateral decision to alter odds without approval. At the time, Bet365 cited an “obvious error” but failed to follow state-mandated procedures.

Bet365 attributed these incidents to human error and software malfunctions, claiming that event start times were incorrectly input into its systems. In response, the company retrained its staff to prevent future mishaps. However, these repeated violations raise concerns about the company’s internal checks and regulatory compliance in one of the most tightly controlled betting markets in the US.

As online gambling continues to expand, companies like Bet365 must ensure stricter adherence to the rules to maintain both regulatory trust and customer confidence. New Jersey remains one of the most significant gambling markets in the US, with regulators committed to upholding stringent standards to prevent such costly mistakes.

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