Another week flies by with plenty of action around the sports betting arena. The NFL and College Football put another week in the books with plenty of drama unfolding (looking at you Antonio Brown). MLB is at the 12 games remain mark as their marathon season winds down and there is still a little to be decided on who's going to the postseason. And it didn't take long but we already have our first large player/book payout dispute in the Meadowlands with Fanduel balking at paying a bad line wagered. Let's dive right in and take a quick look around the industry in this week's Gambler's Report.
Should They Pay?
Fanduel has gotten its first black eye in the New Jersey market as they refuse to pay out a wager made at an obviously bad line. During the Broncos-Raiders game, this Sunday Fanduels in-game wagering posted the Broncos at +75000 to win when they should have been -600 as they were well within game winning FG range. One Savvy or shot taking punter (I guess depends on perspective) was able to quickly get $110 wager down on the Broncos to win that paid just over $82,000. The true odds on the game would have paid out just over $18 for the win at -600. Nobody is disputing it was clearly a line posted in error and the argument hinges on you book it you pay it line of thinking.
This has caused a mess and brought to New Jersey an argument that has long ensued in the offshore market. If they book the bet should they pay it? In the offshore market, the bet is generally always voided. Now, of course, you see a lot of complaining when a winning ticket it voided but we really don't know if they void a losing ticket at a "bad line". It brings up the issue of freerolling and whether it should be allowed to combat "shot takers". There really is no one clear-cut answer to this dilemma and unfortunately, I knew it was only a matter of time before New Jersey or any other market encounters the same thing. Vegas has the policy in place of paying the wager and booting the bettor from their establishment. You would think with as much money as these places deal with they would have better staff on hand to minimize these sorts of issues. Even the clerk where the bet was placed had no idea.
While New Jersey is getting all the negative attention with the above payout dispute the offshore industry payout reports continue to look pretty clean(with one potential hiccup below). Seeing payouts from shops big and small sent out typically in under 24 hours using Bitcoin. As stated weekly, Bitcoin remains the best option for both depositing and withdrawing your funds. Why wait days or even weeks when you can wait hours?
On a side note, read a large thread recently where a player had his account hacked at BetOnline and ended up with over $36k missing from his account. After a lot of stress and running around frantic, BetOnline was able to refund the missing funds but man that has to be stressful. Make sure you regularly update your online passwords and keep them safe. The player had also recently posted several pieces of information about his account balance and run to get there in an open forum. Use common sense. A little bragging and showing off for internet posters is not worth the hassle if something happens.
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