bet365 Reverses Course on Jordan Mason Bets
It was a whirlwind 24 hours for sports bettors, fantasy fans, and one of our best sports betting sites.
Ninety minutes before the kickoff of Monday Night Football, it was announced that San Francisco 49ers running back Christian McCaffrey was inactive. Unfortunately, for bet365, this was the beginning of a rocky day.
Jordan Mason
Many bettors had already long placed wagers on the game, with the expectation that McCaffrey would play. However, due to speculation about McCaffrey's workload, plenty of wagers had been placed on his backup.
Mason's rushing yard prop had been set at 13.5 yards (-110). Those are pretty standard odds at our best NFL betting sites when it comes to player props like rushing yards.
However, with his new found usage following the McCaffrey announcement, Mason shattered those numbers. In his first career start, the third-year man out of Georgia Tech logged 147 yards on 28 carries.
Needless to say, the Over hit.
First moves
It wasn't long before X, formerly Twitter, was flooded with bettors told they had received correspondence from bet365 telling them that their original bets would not be honored at the odds at which they were placed.
"We have identified this selection was placed at incorrect odds and as such, in accordance with our rules, will be settled at the revised odds of -5000."
Needless to say, bettors were outraged. According to our betting calculator, a winning $10 wager at the original odds would pay $19.09, for a profit of $9.09; under the new odds, the profit would shrink to just 20 cents.
Reverse course
As word spread quickly across the internet, bet365 realized it needed to do damage control.
Not only was it a bad look for the company, but in some of the states where it operates it would be illegal and could result in fines.
The sports betting giant had been fined in New Jersey for similar infractions in early August. It was forced to pay out more than half a million dollars to betters in the Garden State, where 199 bets had been impacted over the course of two years.