MGC hits Fanatics with $15,000 fine after accepting college parlay

Fanatics Betting and Gaming (FBG) has been hit with a $15,000 fine by the Massachusetts Gaming Commission (MGC) after accepting a parlay wager that included an in-state college basketball game last December.

The operator accepted a $2 four-leg parlay on December 13, 2023, which involved a non-tournament Massachusetts basketball team.

FBG identified the error and canceled that leg of the bet prior to the game, though ultimately the parlay was a losing wager.

MGC regulations state that in-state college wagers are prohibited unless the team is competing in a tournament.

During a meeting held yesterday, July 11, it was confirmed the Commission was briefed on the “non-compliance event” on February 1, 2024, at which point the case was assigned to the Investigations and Enforcement Bureau (IEB).

On June 10 this year, the IEB submitted its recommendation to the MGC and noted no other information was found “that would change the nature of the non-compliance” and that FBG was “responsive and communicative throughout the process.”

The IEB proposed a fine of $15,000 and asked the Commission to either vote in favor of the fine or reject the penalty and adopt a second recommendation after a judicatory hearing.

At the July meeting, the MGC approved the IEB’s suggested punishment via an unanimous 4-0 vote.

This is the second time the MGC has fined FBG this year, having previously hit the operator with a $10,000 punishment in May for accepting a $50 bet on a game between Boston College and Southern Methodist University (SMU) on December 5, 2023.

FBG canceled and refunded the bet, reporting itself to the Commission ahead of time prior to the investigation was launched.