New Jersey gambling regulators have fined sports betting company bet365 $33,000 for taking wagers on events with known outcomes and on games not approved for betting. The state Division of Gaming Enforcement found that bet365 accepted bets on games that had already taken place, including a mixed martial arts match that had occurred a week earlier. The company did not respond to requests for comment.
This is the second penalty imposed on bet365 by New Jersey regulators in just over two months. In July, the company was ordered to refund $519,000 to customers who were paid less than they were owed due to unilateral changes in odds made by the company without agency approval.
The recent fine pertains to events starting on February 3, 2022, where bet365 allowed bets on a college basketball game with outdated odds and on a golf event several hours after it had started. Additionally, the company accepted bets on mixed martial arts fights that had already concluded and on unapproved events such as European friendly soccer matches and Rutgers University football games.
In most cases, bet365 voided the bets and returned the wagered money to customers, totaling over $257,000. However, in one instance, the company changed the odds without regulatory approval before paying out winning bets. Bet365 attributed the errors to human mistakes in loading event start times and software malfunctions.
The company informed regulators that it has retrained its workers to prevent future errors. Bet365's actions have raised concerns about its compliance with New Jersey gambling regulations and its handling of bets on events with known outcomes.