The Nevada Gaming Control Board (NGCB) has given a ruling in favor of MGM Resorts concerning bets made in June after some baseball games had already commenced. The verdict enables MGM Resorts to nullify numerous bets, preventing bettors from winning over $200,000.
Numerous wagers were placed by bettors at BetMGM Sportsbook kiosks inside the Bellagio between 1:30 and 3:30 a.m. on June 28, following the commencement of some Korean and Taiwanese baseball games.
Usually, once an event has begun, pre-game betting opportunities are no longer available on retail sportsbooks and Nevada sports betting apps.
A mistake made by the MGM Resorts sportsbook resulted in the wrong start times being posted for the games. The inaccurate timing prevented the system from removing these betting options, leading bettors to attempt to exploit the situation.
Voided BetMGM wagers
On June 28, slightly over 50 bets were made on various baseball games at Bellagio. Due to an error by BetMGM, the bettors stood to win over $200,000.
According to an ESPN report, the largest bet was a 10-leg parlay which could have resulted in a payout of $137,000.
Though the victories weren’t assured since the games were ongoing when the bets were made, the bettors had a clear edge with these bets, an advantage not usually available to most bettors. The games typically commenced at either 1 a.m. or 2 a.m. and concluded by 4 a.m.
MGM Resorts asserted that the bets should be nullified. Despite being responsible for the mistake, the company wasn’t willing to bear the financial burden of paying the victorious bets.
The NGCB approved and decided in BetMGM’s favor. The casino and sportsbook operator received permission to cancel over $200,000 in past-post bets and refund the initial bets if the bettors identify themselves.
Two players have already paid over $40K at the cage. The tickets of other players are currently frozen. #payonepayall https://t.co/RP2tr3WVTk
Rewritten: This was posted by R2D2 Audrey (@AudreyR2d2) on July 7, 2020.
MGM Resorts didn’t lay claim to all the bets made. Two gamblers at least managed to cash in tickets amounting to $40,000. This sum merely represents a fraction of the potential loss the BetMGM mistake could have inflicted on the casino operator.
Past posting sports bets
Past posting refers to the act of placing a bet after a game has started. This is a phenomenon that can occur in various casino games and also happens sporadically with sports bets each year.
Neither BetMGM nor the Nevada Gaming Control Board (NGCB) have a house rule against past posting. However, the NGCB regulations do prohibit sportsbooks from invalidating bets without written consent from the gaming control.
In Nevada sportsbooks, past posting doesn’t occur frequently, but it does occur. Typically, these sportsbooks have two solutions:
1. Return the bet(s) to the customer and give them the opportunity to bet in the future. <br>2. Reward the gambler with their full earnings and indefinitely prohibit them from the betting platform.
The bettor and sportsbook operators usually agree to these decisions, as they don’t usually cause a six-figure loss for the sportsbook. However, with so much money at stake, MGM Resorts sought a decision from the NGCB.
The act of past posting can lead to moral quandaries for both sports gamblers and sportsbooks. The gambler is constantly in search of optimal odds and betting options, which can occasionally mean exploiting poor point spreads or unfavorable odds offered by the sportsbook.
Simultaneously, the sportsbook has the right to deny service to players, typically leading to a certain amount of negotiation between the parties.
In the end, gamblers desire to bet, and sportsbooks yearn for their participation. Typically, both parties make concessions to facilitate their ongoing business relationship.
2020 is a unique year for sports betting
The ongoing coronavirus pandemic has turned 2020 into an odd year for sports gamblers. Global sports leagues had already halted their seasons before physical casinos in Nevada were shut down.
However, despite the halt of major professional leagues, gamblers are still seeking action and exploring new ways to bet on sports.
Punters quickly turned to the limited number of Nevada sportsbook apps that were operational to find betting opportunities. The sportsbooks promptly scoured various sources to provide clients with these opportunities. Esports and Russian table tennis (ping pong) were favored options during the initial period of the pandemic.
The Korean Baseball Organization (KBO) kicked off its season on April 21, providing gamblers with a chance to bet on a sport that resembles what they would typically wager on. The main distinction with Asian baseball is that the games largely occur during hours when the majority of people are asleep.
The initial pitch for KBO games typically occurs between 1 a.m. and 5:30 a.m. PT.
Professional sports began to revive with Bundesliga soccer matches from Germany. Now, three out of the “big four” professional sports have resumed.
A few weeks ago, Major League Baseball kicked off a brief season and betting odds have now been published by sportsbooks. Meanwhile, the National Basketball Association and National Hockey League are wrapping up their respective seasons, which had been put on hold due to the arrival of the coronavirus in the US.
For numerous reasons, the year 2020 will be peculiar to many. Among those who may remember it distinctly are sports bettors, as this could be the year they began placing bets on new sports happening in various global locations.
