New Jersey fines bet365 $33K for illegal betting practices

New Jersey gambling regulators imposed a $33,000 fine on bet365 for accepting wagers on events where outcomes were already known, as well as on unapproved games. The violations included taking bets on a mixed martial arts match that had occurred a week prior and on college basketball games after their start times had changed without updating the odds. Additionally, the company accepted bets on European soccer matches and on Rutgers University football, which is prohibited in New Jersey. This fine follows a previous disciplinary action in July, where bet365 was ordered to refund $519,000 to customers due to incorrect payouts resulting from altered odds. The company claimed these changes were due to an 'obvious error' but failed to seek prior approval from regulators, which is required for such actions. The enforcement division highlighted that bet365's mistakes stemmed from human error and software malfunctions, leading to incorrect event start times being loaded into their betting applications. In response to these issues, the company has stated that it has retrained its employees to prevent future occurrences. Despite the violations, bet365 voided over $257,000 in bets and returned the wagered amounts to customers. The repeated infractions indicate a troubling pattern for the British sports betting firm, raising concerns about its compliance with New Jersey's gambling regulations.