Bet365 has paid out most New Jersey bettors after revising odds on more than $500,000 in winning bets for nearly three years.
All impacted patrons with active bet365 accounts have been paid, a spokesperson with the New Jersey Division of Gaming Enforcement said in an email. The NJDGE ordered bet365 to pay out $519,323.32 last month after determining it “unilaterally revised odds” on 13 sporting events, impacting 199 NJ sports betting customers.
“There are a few nonactive accounts and DGE is working on resolving those. We have no further comment at this time,” the NJDGE spokesperson said.
Bet365 acted on its own
The errors involved a myriad of different types of wagers, spanning across different sports from December 2020 to April 2023.
A letter to the sportsbook’s legal counsel indicates that it adjusted odds after wagers because of “obvious errors” in their posting. Most states allow sportsbooks to adjust payouts in these situations; New Jersey, however, requires regulator approval first.
“Although Bet365’s House Rules were approved by the Division, it was with an express statement and caveat that Bet365 was prohibited from voiding any wager without prior Division approval,” the NJDGE said in the letter.
Bet365 did not respond to multiple requests for comment.
Taking steps to prevent future errors
The NDJGE ordered bet365 to investigate and address its internal software systems and manual trading processes to prevent future errors.
The company submitted a report outlining those efforts, including steps to prevent future errors and assurances on the reliability and accuracy of its data feeds moving forward.
“These types of multiple and serious violations cannot be tolerated in the New Jersey gaming regulatory system. They impact adversely upon bet365’s business abilities and Casino experiences and evidence impossible conduct in dealing with regulations with significant adverse impact upon patrons,” the NJDGE said.
