Bet365 Faces More Backlash for Adjusting Odds After Bets Placed

Posted on: September 10, 2024, 02:54h. 

Last updated on: September 10, 2024, 03:06h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.

Bet365 is facing a slew of criticism on Tuesday after the sportsbook adjusted odds on accepted bets after realizing that a backup running back would be the starter for the San Francisco 49ers during the team’s “Monday Night Football” game.

bet365 sports betting sportsbook odds
Sportsbook bet365 issued a settlement update for an over/under market that it tried to adjust odds on after accepting bets. The sportsbook has faced much criticism recently for adjusting odds on posted bets. (Image: X)

Jordan Mason is the Niners’ second-string running back behind Christian McCaffrey, one of the most electrifying players in the NFL who was named the Offensive Player of the Year in 2023.

McCaffrey typically does the heavy lifting in the San Francisco backfield and commands the bulk of the team’s carries. That’s why bet365 originally put Mason’s over/under for total rushing yards against the New York Jets at just 13.5 yards. The line was on odds of -110, typical for an over/under.

After bet365 realized that McCaffrey wouldn’t play because of a nagging calf/Achilles injury, the sportsbook told bettors with action on Mason that their odds had been adjusted to -5000. The change meant a $100 winning bet went from paying out $90.91 to just $2.

Bet365 Makes Good, Kind Of?

Matt Williams, a sports betting analyst at VSiN Live, was the first to expose the bet365 odds adjustment for Mason’s performance.

Bet365 told Mason and others who took the Mason over/under at -110 that the adjustment was warranted because the original odds were offered in error.

We have identified that this selection was placed at incorrect odds and as such, in accordance with our rules, will be settled at the revised odds of -5000,” the bet365 communication read.

After Williams shared the sportsbook message to X and hundreds of angry bettors scolded the operation, bet365 issued a “settlement update.” Williams said his $110 bet was awarded $91.93, which was below the $100 he was rightfully owed on -110 odds. The comments on the bet365 settlement update were overwhelmingly negative.

“The only reason you’re agreeing to this is because you got called out publicly,” read one response on X.

There was no confusion, you all thought you could screw people over,” added another.

Williams likened the book’s explanation to a robber robbing a bank who later found out they were caught on camera.

“So they brought the money to the police station and said, ‘Sorry for any confusion.'”

Regulators Mum?

In July, the New Jersey Division of Gaming Enforcement (DGE) ordered bet365 to pay $519,323.32 to bettors behind 199 winning wagers in which the sportsbook had post-adjusted its odds.

The gaming regulator said bet365 failed to notify the agency about accepting wagers on odds it deemed erroneous. State officials said DGE approval is first needed for a book to adjust odds on facilitated wagers.

The DGE found additional regulatory deficiencies at bet365 last week when it revealed the book had taken bets on events that had already been completed. Bet365 agreed to settle the regulatory action with a $33K penalty.

Casino.org reached out to the DGE for comment regarding Monday night’s matter but didn’t hear back before publication. We will update the story if we receive a response.