Australian gambling company Sportsbet was ordered to pay potentially millions of dollars on bets that were wrongly cancelled after a mix-up odds.
The Northern Territory gambling regulator, where Sportsbet is licenced, told the operator that it had to honour the wagers made at the Australian Football League (AFL) games in May despite claiming that the attractive odds offered were “errors.”
Sportsbet approved bets that in round-10 AFL games, no player will make 40 or more disposals. It then cancelled all bets, telling punters that it was exercising its rights to cancel bets under its terms and conditions due to “obvious or manifest errors.”
The Northern Territory Racing Commission (NTRC) opened an investigation into the incident following a number of player allegations.
In a ruling released on Thursday, the NTRC said that while acknowledging the argument of Sportsbet that the odds were offered in error, the error would not necessarily have been discernible to the typical Sportsbet customer with reasonable knowledge of AFL betting and sport.
The bets were therefore found to be legal and Sportsbet was ordered to pay up. The ruling could cost Sportsbet up to AUS$9 m in various media reports.
A Sportsbet spokesperson said: “We acknowledge the NT Commission’s determination today and we will be topping up the accounts of the affected customers as soon as possible.”