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PointsBet $25,000 fine for sports betting violations in New Jersey

Pointsbet terminates deal with University of Colorado

PointsBet, the online sports betting company, has found itself in hot water with the New Jersey Division of Gaming Enforcement (DGE), resulting in a $25,000 fine for violating sports betting regulations.

The DGE imposed this fine on August 23, but the details only came to light this week when the New Jersey Attorney General’s Office made them public.

The violations encompass a range of issues. Firstly, in August 2021, PointsBet accepted pre-match bets on games that had already begun, totaling $13,500 from a single bettor. However, these bets were voided, and the money was returned.

PointsBet explained that they lacked an automated process to review and verify the accuracy of published markets, attributing the mistake to communication problems with a third-party data provider.

Another infraction occurred on October 29, 2021, when PointsBet allowed betting on a League of Legends eSports tournament featuring a 17-year-old player, which violated the minimum age requirement of 18 for participants. Four bets totaling $1,225 were accepted but later voided. PointsBet acknowledged the oversight and implemented new procedures to prevent such issues.

The most recent violation took place on March 25, 2022, involving bets on a St. Peter’s men’s basketball team game, which was ineligible for betting in New Jersey. Two bets totaling $60 were placed within a 55-minute window, but these were also canceled, with PointsBet attributing the error to human oversight.

While PointsBet declined to comment on the matter, these fines highlight the importance of adherence to sports betting laws and regulations in New Jersey, demonstrating the state’s commitment to maintaining fair and transparent sports betting practices.

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