FanDuel Bets Prerecorded PFL Fight, Pays Over $230,000

FanDuel, one of America’s leading sports books, already had to pay a $2,000 fine and over $230,000 in bets after accepting bets for MMA events that took place a week ago. The incident, which took place on April Fool’s Day in 2022, was promoted as a live event but involved 34 bets on professional fighter league (PFL) events that took place on March 25, 2022.

New Jersey gambling regulators fined FanDuel, which agreed to pay the fine. However, according to The Associated Press, FanDuel declined to comment on the fine. In a letter Monday, the New Jersey Bureau of Gaming Enforcement said FanDuel had not been notified by the data feed provider that the PFL game had been prerecorded. Therefore, FanDuel’s trading team created a betting market manually based on information obtained directly from the PFL.

Gina DeAnnantis, New Jersey’s deputy attorney general, said in a letter, “FanDuel confirmed that traders had failed to confirm to the PFL that the event had previously occurred and was being offered through tape delays. These verification errors have resulted in 26 online bets and eight retail bets totaling $190,904.

Detection and payment

The error was detected when FanDuel received a notification from the International Betting Integrity Association, which monitors betting transactions on suspicious activities. The association warned that an event had already taken place that offered FanDuel the odds. As a result, FanDuel paid bets amounting to $231,094.

The New Jersey regulator’s fine was imposed on Jan. 2 but was only recently made public. In addition to the financial penalties, the state has mandated FanDuel to update its internal controls to prevent similar events in the future.

This wasn’t the first time a New Jersey sports book had bet on an incident that had already happened. In 2021, 86 gamblers bet on an English football match the day before. The bet was nullified and related companies Cambie Group and Rush Street Interactive were fined $1,000 each. The case involved Manchester United’s Marcus Rashford’s proposal bet on whether to score a goal against Liverpool, which he did.

More recently, regulators in New Jersey fined DraftKings, another major sports book, $100,000 for reporting inaccurate sports betting data to the state. These events highlight the difficulty and complexity of managing real-time sports betting operations, and the importance of a rigorous data verification process
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Ensure compliance for the future

In light of these issues, FanDuel and other sportsbooks operating in New Jersey and elsewhere are likely to face more scrutiny and regulatory oversight. Ensuring accurate and timely data feeds is critical to maintaining the integrity of the sports betting market. Companies should invest in robust internal control and verification processes to prevent similar mistakes and maintain the trust of their customers and regulators. 슬롯사이트 순위

Fines and payments related to these errors serve as a reminder of the high stakes involved in the sports betting industry. As the market continues to grow and evolve, compliance with regulatory standards will remain a top priority to protect operators’ operations and reputations.