New Jersey regulator addresses early FanDuel sports betting flaw
News on 11 Oct 2018
News on 11 Oct 2018
A discussion panel at this week’s Global Gaming Expo has given more insight into the consequences of the in-play betting ‘ridiculous’ odds flaw that allowed 12 sharp New Jersey punters to score significant wins – in one case of $82,000 – on a last second win in a US National Football League game earlier this year.
Our readers will recall that one bettor placed his wager at the Meadowlands Racetrack, and 11 others who made online bets were initially rebuffed when they sought payment from FanDuel Sports in the Paddy Power Betfair group.
After something of a social media storm, a deeper investigation, and an discussion with the regulatory New Jersey Division of Gaming Enforcement all the players were paid out.
A media outlet raised the issue again at a G2E panel on which chief New Jersey regulator David Rebuck was sitting, and was told that the major odds flaw in the dying moments of the Broncos-Raiders game was regarded by the regulator as an unfortunate hiccup in the nascent sports betting sector, but one from which lessons were learned.
Rebuck said that on deeper investigation there were at first concerns that there may have been a criminal conspiracy involved, but as the investigations developed it revealed that the flaw occurred due to the regulatory internal controls not working as intended.
Following the investigation the regulator and FanDuel-Paddy Power – Betfair discussed the issue in depth and owned the error, agreeing to strengthen internal controls and safeguards to prevent a recurrence…and paying out the punters.
Operators can look forward to notifications on the revised internal controls.
News on 11 Oct 2018
A discussion panel at this week’s Global Gaming Expo has given more insight into the consequences of the in-play betting ‘ridiculous’ odds flaw that allowed 12 sharp New Jersey punters to score significant wins – in one case of $82,000 – on a last second win in a US National Football League game earlier this year.
Our readers will recall that one bettor placed his wager at the Meadowlands Racetrack, and 11 others who made online bets were initially rebuffed when they sought payment from FanDuel Sports in the Paddy Power Betfair group.
After something of a social media storm, a deeper investigation, and an discussion with the regulatory New Jersey Division of Gaming Enforcement all the players were paid out.
A media outlet raised the issue again at a G2E panel on which chief New Jersey regulator David Rebuck was sitting, and was told that the major odds flaw in the dying moments of the Broncos-Raiders game was regarded by the regulator as an unfortunate hiccup in the nascent sports betting sector, but one from which lessons were learned.
Rebuck said that on deeper investigation there were at first concerns that there may have been a criminal conspiracy involved, but as the investigations developed it revealed that the flaw occurred due to the regulatory internal controls not working as intended.
Following the investigation the regulator and FanDuel-Paddy Power – Betfair discussed the issue in depth and owned the error, agreeing to strengthen internal controls and safeguards to prevent a recurrence…and paying out the punters.
Operators can look forward to notifications on the revised internal controls.
