FanDuel is rapidly emerging as a market leader in the emerging U.S. sports betting marketand is a setting the standard for what regulated American wagering is going to look like. But being at the head of the pack also means that you’ll be the first one to run into new challenges as a recent incident involving international and domestic football odds proves. You’ll also be the first to test the smallest print of their house rules.
According to a report on ESPN.com, in mid-July, two sharp-eyed football bettors spotted a pretty sweet deal when FanDuel posted a line reading, FC Cincinnati +5 goals (-134) versus Atlanta United. At the Meadowlands, Daniel Leavey, 20 jumped at the opportunity and placed $5,360 on Cinncinnati +5. The wager was large enough that it required a manager’s approval, which was granted, and allowed Leavey to boost the bet up to $4000.
When Leavey when to cash in on a little more than $17K, FanDuel representatives told him the payment was on hold and have suggested that the wager was not valid because of a line error. And that’s where it’s stood ever since
A similar incident occurred in Indiana with a similar hold.
What both cases now have in common is that they’re being looked at by regulators in both Indiana and New Jersey. No one is accusing FanDuel of any wrongdoing and it’s likely that regulators are testing the legal waters to find out what the boundaries of legal wagering are.
That said, FanDuel fought a similar case in New Jersey last year and wound up cashing out about as much as they’d be chasing out on this case. What the case will likely prove is how much distance there is between what’s written in an American sportsbook’s terms of service and what US law will tolerate.
Certainly more to come on this episode of American sports betting.