Bet365 is receiving a lot of criticism on Tuesday for changing the odds on bets that were already accepted when they realized that a backup running back would be starting for the San Francisco 49ers during their “Monday Night Football” game.
Jordan Mason is the second-string running back for the Niners behind Christian McCaffrey, who is a standout player in the NFL and was named Offensive Player of the Year in 2023.
McCaffrey usually handles the majority of the running game for San Francisco and gets most of the carries. That’s why bet365 initially set Mason’s over/under for rushing yards against the New York Jets at only 13.5 yards with odds of -110.
After discovering that McCaffrey would not be playing due to an injury, bet365 informed bettors who wagered on Mason that their odds had changed to -5000. This adjustment meant that a $100 winning bet would now only pay out $2 instead of $90.91.
Bet365 Takes Some Corrective Action, Sort Of
Matt Williams, a sports betting analyst at VSiN Live, was the first to bring attention to bet365’s odds adjustment for Mason’s performance.
Bet365 informed Mason and others who bet on Mason’s over/under at -110 that the change was necessary because the original odds were issued 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,” read the communication from bet365.
After Williams shared bet365’s message with X and many upset bettors criticized the operation, bet365 released a “settlement update.” Williams mentioned that his $110 bet resulted in a payout of $91.93, lower than the $100 he was owed at -110 odds. Feedback on bet365’s settlement update was mostly negative.
“You only agreed to this because you were publicly called out,” one comment on X stated.
“There was no confusion, you all thought you could cheat people,” another comment added.
Williams compared the explanation from the sportsbook to a robber who got caught stealing from a bank and then tried to rectify the situation.
“So they took the money to the police station and said, ‘Sorry for any misunderstanding,'” he remarked.
Regulators Stay Silent
In July, the New Jersey Division of Gaming Enforcement (DGE) ordered bet365 to pay $519,323.32 to bettors who had placed 199 winning wagers that were subject to post-adjusted odds by the sportsbook.
The gaming regulator stated that bet365 failed to inform the agency about accepting bets on odds that were considered incorrect. State officials noted that DGE approval is required before a book can change odds on accepted bets.
Last week, the DGE found more regulatory issues at bet365 when it was revealed that the sportsbook had taken bets on events that had already concluded. Bet365 agreed to resolve the regulatory matter with a $33K penalty.
Casino.org reached out to the DGE for a statement regarding Monday night’s incident but did not receive a response before publication. The story will be updated if a response is received.
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