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Brandon McManus played in a championship game on September 16 to bring the Broncos to a 20-19 victory over the Raiders. FanDuel offered wrong odds of 750-1 on Denver to win the match due to a problem with its pricing system. (AP Photo / Jack Dempsey).
When placing a bet at the window or on a smartphone, most punters are painfully aware of an old adage: if the odds seem too good to be true, they probably are.
A punter from New Jersey may have to learn the lesson the hard way. In the hope of recovering some of his defeats early in the day, Anthony Prince put a $ 110 wager on the Denver Broncos to defeat the Oakland Raiders at the last minute of the match. Sunday. Run 19-17 with 26 seconds to go, the Broncos faced a +340 rating to win the game. Two games later, Case Keenum completed a 26-yard pass to receiver Tim Patrick, putting Denver within reach.
The odds on Denver's victory at FanDuel Sportsbook in Meadowlands dropped sharply to Minus-600 ($ 600 to win $ 100). For 18 seconds, however, a technical problem with the book's in-game pricing system indicated that the Broncos were behind by 75,000 people. A small number of bets, including one of Prince, were made on the Broncos to win at 750-1.
The Broncos took the lead on a 36-yard placement by Brandon McManus, then retained the 20-19 win. But when Prince went to collect, a FanDuel employee told him that they were not honoring the bet at a wrong price.
Instead, Prince said he was offered $ 500 and three tickets for the Giants' next three home games at MetLife Stadium. Prince declined.
"We have honored all these Broncos bets to win the match at the exact market price, in accordance with our house rules and industry practices, which specifically address these obvious price errors," he said. FanDuel in a statement. "We contacted all concerned customers and apologized for this error."
At a wrong price, Prince would have received a potential payment of $ 82,600 on a bet of $ 110. At the market price, Prince would have earned less than $ 20.
Nevertheless, the blunder could be a decisive moment in the brief history of New Jersey legalized sports games. Since Garden State legalized sports betting in June, the industry still faces a public relations issue that is hurting the reputation of local sports books. The New Jersey Gaming Police Division is investigating the matter, ESPN reported.
In Europe, bookmakers have struggled with this problem for years. In the run-up to the 2014 FIFA World Cup, Coral Group canceled a bet after the operator admitted that an employee was offering incorrect odds on a bet with a trio of qualifiers. A bettor placed a A bet of € 100 indicates that Argentina, France and Serbia each have three goals or more in their respective games for a gain of almost £ 10,000. When the book discovered that the seller incorrectly set the price of the ticket based on the odds that each team would score four goals or more, they agreed to pay the bettor around £ 1,215. However, when European books make "palpable" mistakes, many operators reserve the right to cancel bets.
A merger between Ladbrokes and the Coral Group was completed in November 2016. In March, GVC Holdings finalized the acquisition of Ladbrokes Coral under an estimated £ 4 billion deal.
Prince, a regular customer of the sports book, said he had placed the ticket in a safe in a Newark bank. The bettor, who sought representation from a lawyer, added that a payment of about half the total amount of $ 82,600 would be considered a fair settlement.
"I won it right and square, so I should be getting fair and square," Prince said.
Prince also contacted the New Jersey Division of Gaming Enforcement to inquire about the issue.
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Brandon McManus played in a championship game on September 16 to bring the Broncos to a 20-19 victory over the Raiders. FanDuel offered wrong odds of 750-1 on Denver to win the match due to a problem with its pricing system. (AP Photo / Jack Dempsey).
When placing a bet at the window or on a smartphone, most punters are painfully aware of an old adage: if the odds seem too good to be true, they probably are.
A punter from New Jersey may have to learn the lesson the hard way. In the hope of recovering some of his defeats early in the day, Anthony Prince put a $ 110 wager on the Denver Broncos to defeat the Oakland Raiders at the last minute of the match. Sunday. Run 19-17 with 26 seconds to go, the Broncos faced a +340 rating to win the game. Two games later, Case Keenum completed a 26-yard pass to receiver Tim Patrick, putting Denver within reach.
The odds on Denver's victory at FanDuel Sportsbook in Meadowlands dropped sharply to Minus-600 ($ 600 to win $ 100). For 18 seconds, however, a technical problem with the book's in-game pricing system indicated that the Broncos were behind by 75,000 people. A small number of bets, including one of Prince, were made on the Broncos to win at 750-1.
The Broncos took the lead on a 36-yard placement by Brandon McManus, then retained the 20-19 win. But when Prince went to collect, a FanDuel employee told him that they were not honoring the bet at a wrong price.
Instead, Prince said he was offered $ 500 and three tickets for the Giants' next three home games at MetLife Stadium. Prince declined.
"We have honored all these Broncos bets to win the match at the exact market price, in accordance with our house rules and industry practices, which specifically address these obvious price errors," he said. FanDuel in a statement. "We contacted all concerned customers and apologized for this error."
At a wrong price, Prince would have received a potential payment of $ 82,600 on a bet of $ 110. At the market price, Prince would have earned less than $ 20.
Nevertheless, the blunder could be a decisive moment in the brief history of New Jersey legalized sports games. Since Garden State legalized sports betting in June, the industry still faces a public relations issue that is hurting the reputation of local sports books. The New Jersey Gaming Police Division is investigating the matter, ESPN reported.
In Europe, bookmakers have struggled with this problem for years. In the run-up to the 2014 FIFA World Cup, Coral Group canceled a bet after the operator admitted that an employee was offering incorrect odds on a bet with a trio of qualifiers. A bettor placed a A bet of € 100 indicates that Argentina, France and Serbia each have three goals or more in their respective games for a gain of almost £ 10,000. When the book discovered that the seller incorrectly set the price of the ticket based on the odds that each team would score four goals or more, they agreed to pay the bettor around £ 1,215. However, when European books make "palpable" mistakes, many operators reserve the right to cancel bets.
A merger between Ladbrokes and the Coral Group was completed in November 2016. In March, GVC Holdings finalized the acquisition of Ladbrokes Coral under an estimated £ 4 billion deal.
Prince, a regular customer of the sports book, said he had placed the ticket in a safe in a Newark bank. The bettor, who sought representation from a lawyer, added that a payment of about half the total amount of $ 82,600 would be considered a fair settlement.
"I won it right and square, so I should be getting fair and square," Prince said.
Prince also contacted the New Jersey Division of Gaming Enforcement to inquire about the issue.
