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Julie Moraine July 6, 2020 4 min read
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ESPN: A Regulator Probe Opened into MGM $250K Betting Error
According to respected media outlet ESPN, the Nevada Gaming Control Board (NGCB) will now have to decide whether $250K won as a result of a human error at the Bellagio should be honored or cancelled.
A Manual Error Could Cost MGM Resorts Close to $250,000
A probe has been reportedly launched to investigate a mistake that allowed several bettors to gain an “unfair advantage” on bets placed on international baseball games after the games had started. The accident took place at the MGM Resorts with bettors using the opportunity to better their odds and win close to $250,000, according to ESPN.
One 10-leg parlay fetched $137,000 with the total number of wagers reaching 50. According to the Associated Press, nearly all wagers were placed at the Bellagio using self-serving kiosks between 1:30 a.m. and 3 a.m.
Instead of invalidating these bets, though, BetMGM has let the Nevada Gaming Control Board to take charge of the investigation. According to the regulator, the wagers may yet be deemed invalid, thus saving the sportsbook a hefty sum.
Bettors See an Opportunity and Take It
The exact number of people to participate in the short-lived betting frenzy is known, but all wagers happened in the early hours of Sunday, and they all involved games in the KBO League and the Chinese Professional Baseball League. With bets continually placed between 1:30 a.m. and 3 a.m. PST, some wagers gave participants an unfair advantage because the games started between 1 a.m. and 2 a.m.
According to ESPN and the Associated Press, the error occurred because of an incorrect manual entry, allowing wagers to be accepted after the start of the actual game. The wagers covered various entries, and specifically the NC Dinos (-110) and under 9 total runs.
Playing against the Doosan Bears, the Dinos managed to achieve a scoreless tie in the fifth inning and created a three-run homer at 2:28 a.m. The final score stood strongly in their favor with a flawless 5-0 at the end of the game.
ESPN said that another popular bet was over 9.5 on the game between KT Wiz Suwon and Hanwha Eagles. With Suwon taking an early lead with five runs in the first inning, the bet was very likely to pen out and it did, after Suwon won 8-4.
As to the Chinese Professional Baseball League, the only wager from the competition was placed on the Rakuten Monkeys versus the Uni Lions at 2 a.m. The Lions managed to score in five out of six innings, and eventually won with 10-2. The bet placed on the Lions (+150) won.
Cashing In: Or How Bettors Hit Big
One of the biggest wagers to win was reportedly placed by Twitter user @AudreyR2D2 who posted a picture of an eight-leg parlay winning $11,156.60. The ticket has a time stamp of 2:53:37 and it involved five KBO games which all started at 1 a.m.
According to ESPN, the ticket is authentic, even though the media outlet couldn’t confirm the identity of the Twitter user. Meanwhile, Elisa Richardson, head of BetMGM communications, tweeted the news about the 10-leg parlay winning $137,107.38, but the tweet was taken down a few hours later.
ESPN also managed to get in touch with ROAR Digital, the company that manages the sportsbook’s digital operations, explaining that there had been a trading error.
All in the Hands of the Nevada Gaming Control Board
Since sportsbooks cannot rescind wagers, this lies entirely in the remit of the Nevada Gaming Control Board (NGCB). ESPN tried to reach out to the regulator, but an email came through saying that the watchdog would provide no comment.
Sandra Douglass Morgan, appointed for a four-year stint by Nevada Governor Steve Sisolak will have to discuss the error with fellow colleagues and make a decision. Usually, such errors occur several times a year, informs ESPN, but never on the scale it has now.
The solution at hand according to some Las Vegas sportsbooks managers who chose to stay anonymous speaking to ESPN is to either return the funds and continue as members or receive the full amount but be permanently banned from the venue.
With 4 years experience as an analyst, Julie—or ‘Jewels’, as we aptly refer to her in the office—is nothing short of a marvel-worthy in her attention to the forex and cryptocurrency space as she quickly became the first pick to co-pilot education to the masses with Mike.