Betting News 
Bet365 has been mandated to refund more than $500,000 to winning bettors in New Jersey after paying them at less favorable odds for nearly three years.
In a July letter to the company’s legal counsel, the New Jersey Division of Gaming Enforcement (NJDGE) gave bet365 until August 1 to reimburse $519,323.32 to 199 New Jersey customers. An audit revealed that the company had “unilaterally revised odds for a significant number of wagers over an extended period of time.”
Neither bet365 nor the NJDGE immediately responded to inquiries about whether customers have been repaid.
In its defense, the company stated that the odds posted were “an obvious error,” a situation where most states allow sportsbooks to adjust payouts. However, New Jersey requires sportsbooks to obtain approval from the regulator first, which bet365 failed to do.
The NJDGE highlighted this requirement in their letter, stating, “bet365 failed, in all instances, to recognize that 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, as is the standard course in Division approval of House Rules and as is set forth in Division regulation N.J.A.C. 13:169N-1.11(d).”
The letter continued, “Moreover, as a sports wagering provider participating in New Jersey’s gaming industry, bet365 is charged with knowledge of the gaming laws, including the Division’s regulation barring unilateral voiding of wagers by operators without the express authorization of the Division.”
The source of these errors remains unclear, as the 13 affected bets covered a variety of sports, leagues, and wager types over a significant time frame. The events ranged from December 2020 to April 2023 and included markets such as table tennis, NFL football, college basketball futures, and golf.
Alongside the payouts, bet365 is required to submit a comprehensive report by August 11 detailing its efforts to identify and rectify failures in its internal software systems and manual trading errors, and to ensure the accuracy of its data feed.
By addressing these issues, bet365 aims to prevent similar incidents in the future and maintain the integrity of its operations within the highly regulated New Jersey sports betting market.
