Fanatics Sportsbook Fined for Collegiate Betting Error
Massachusetts' Sports Betting Authority Imposes Fine of $10,000 on Fanatics Sportsbook
In a recent turn of events, the Fanatics Sportsbook agreed to shell out a $10,000 fine from the Massachusetts Gaming Commission, all thanks to a blunder made in December. The blunder? Accepting a wager on an in-state college team, Boston College, for their bowl game against SMU.
A bettor, on Dec. 5, had placed a $50 futures bet on Boston College's bowl game, only for the Sportsbook to realize their mistake the very next day. Quick thinking saw the bet being cancellation and the customer was refunded. The bowl matchup didn't take place until Dec. 28, so thankfully, the error was rectified well before the big day.
However, accepting a wager on an in-state college for non-tournament action is a big no-no, and so, the Sportsbook faced the musical chair of penalties. The commission asserts, "The goal of the commission was to set the goalposts, and we ensure they are followed. I see that here... I think it was great work," said Jordan Maynard, the MGC's interim chair.
Massachusetts' unique rules surrounding college sports betting have been a thorn in the side of many a sports betting operator since their inception. With the need to avoid human error, double-check allowed markets, and steer clear of college teams in non-tournament action, operators have had quite the learning curve. Not adhering to the rules can lead to fines, as demonstrated by Fanatics Sportsbook's recent penalty.
Encore Boston Harbor had the bitter taste of a $40,000 fine earlier this year for allowing in-person bets on in-state schools, further showcasing the need for operators to tread cautiously.
The restrictions on betting on in-state college teams present a myriad of challenges for operators. Customer education and compliance, technical and system adjustments, regulatory scrutiny, and marketing and promotion limitations are just a few hurdles these operators must clear to ensure compliance and customer trust. It's a delicate dance, but one that must be mastered in the Massachusetts sports betting landscape.
The Fanatics Sportsbook was fined $10,000 for accepting a wager on an in-state college team, Boston College, for their bowl game against SMU, which violates Massachusetts' strict regulations on college sports betting. Operators in Massachusetts must be vigilant to avoid such mistakes, as failure to comply can lead to financial penalties.
