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The New Jersey Division of Gaming Enforcement (DGE) has mandated that bet365 compensate bettors more than $500,000 following unauthorized changes to its wagering odds. This decision arose after the DGE discovered that bet365 had altered odds for multiple wagers without obtaining necessary regulatory consent, despite the original odds being incorrect.
Between 2020 and 2022, bet365 reportedly made unilateral adjustments to odds for numerous bets. During a routine audit, the DGE identified 13 instances where the operator amended odds for sporting events, citing errors in its house rules as the reason. The operator attributed these discrepancies to incorrect odds provided by its partners and contended that it should have been permitted to correct the mistakes.
However, the DGE emphasized that altering odds or voiding wagers without prior approval from the authority is strictly prohibited. Consequently, the regulatory body directed bet365 to process all affected payouts promptly.
As a result of the DGE’s ruling, bet365 was instructed to disburse $519,323.32 to 199 affected accounts within ten days of receiving the order on July 22. This payout includes funds from bets placed on various events, including a 2021 NCAA basketball game between BYU and Oregon. Bet365 initially accepted 59 winning bets on this game but later adjusted the odds after the event concluded.
Mary Jo Flaherty, interim director of the DGE, criticized bet365’s actions, highlighting the gravity of the situation. She stated, “The failures are problematic as to bet365’s business ability to conduct online gaming and the integrity and reliability of its operational systems.” Flaherty noted that the changes misled customers and resulted in incorrect payouts for nearly 200 patrons.
This enforcement action underscores New Jersey’s commitment to ensuring that gaming operators honor their bets, regardless of errors. The DGE’s approach aligns with its broader regulatory philosophy, which has previously seen similar demands placed on other major operators like DraftKings for voided bets.