FanDuel Fined $2K for April Fool's Blunder
The New Jersey Division of Gaming Enforcement (DGE) has imposed a $2000 fine on FanDuel for accepting bets on mixed martial events that had already taken place.
FanDuel took 34 bets on the past MMA games in New Jersey.
LISTEN TO THIS ARTICLE:The gambling operator committed the error on April Fool's Day in 2022 by offering markets on Professional Fighters League (PFL) fights that had already been held on March 25.
FanDuel took 34 bets on the events and blamed the error on a breakdown in communication with its data providers, explaining that the fights in question were a pre-recorded broadcast aired on TV and streaming platforms rather than a live event.
The sportsbook also claimed it received inaccurate event data from the PFL, contributing to the wagering mistake.
FanDuel confirmed that its traders failed to confirm with PFL that the event had previously occurred and was being presented via a tape delay.
FanDuel promptly reported the mistake to the regulator, stating that it received $190,904 in wagers and paid out $231,094 to settle the bets. While the penalty had been issued since the beginning of this year, the DGE made it public on Wednesday, July 10.
More Regulation News
DraftKings Fined $100,000
A few days ago, FanDuel's close competitor in the New Jersey market, DraftKings was also fined $100K by the DGE for reporting incorrect sports betting data. Via an investigation, the DGE discovered that the sportsbook had submitted incorrect trading returns, which inflated parlay wager spend and underreported other betting categories.
The regulators had to re-issue sports betting data for the period when DraftKings reported incorrect figures. According to the DGE, the incidence marked the first time in thirteen years that it had re-published revenues from gambling operators in the state.
RELATED TOPICS: Regulation
Latest News
Responsible Gambling
New Jersey Makes Significant Change to Gambling Self-Exclusion Program
Dec 24, 2024
Most Read
Parlays, Pressure, and Addiction - The Risks of Modern Sports Betting
Dec 20, 2024Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for FanDuel Fined $2K for April Fool's Blunder