BetMGM.com fined $500 for Player Prop Pricing Error
Sometimes bettors look at odds and think that what they are being offered is just too good to be true. Most of the time that just isn’t the case. For nine eagle-eyed bettors looking at Prop Bets in the Browns-Chiefs playoff game in January however, what they were seeing was exactly that.
A typo on the betting market on the over/under 300 yards of completed passes for both starting Quarterbacks in the game - Baker Mayfield and Patrick Mahomes - meant that rather than the number actually being 300 yards - the number was 00 yards. So any completed pass for a yard or more would see the over hit. As it turns out, the two players combined for 459 yards so the over rather easily hit on both prop bets.
Five customers of BetMGM and four of the MGM Resorts International owned Borgata Online jumped on the incorrect odds before the typo was amended. After initially seeking to null and void the bets - the companies agreed to pay out $10,500 and the company confirmed that the erroneous bets have indeed been settled in full.
The New Jersey Division of Gaming Enforcement revealed the error whilst fining BetMGM.com $500 for failing to properly display odds on a betting market.
So this is a heads up for all sports bettors - sometimes mistakes happen and when it is the book making the error they sometimes will still pay out. In the small print you’ll see that they have procedures in place to void all these bets but sometimes they’ll still voluntarily honor the bets to stop bad publicity.
So if you ever see a line where the odds are seriously out of line with what other Sportsbooks are offering - jump on as quickly as possible. Either the bet will be void and you’ll get your stake back anyway or you might win big.
If you are a sports bettor in NJ then we have special sign-up offers with both BetMGM.com and Borgata - you can check them out and our Reviews of their websites via the buttons links in this article.
