Nevada Gaming Regulators Spank CG Technology for Sports Betting Software Flaws
The Nevada Gaming Control Board (GCB) is coming down on CG Technology, a provider of sports betting software, for a variety of regulatory blunders including allowing punters to place sports betting wagers from out-of-state. This is the company’s third major violation of local gaming regulations and illustrates the challenges that operators face while providing sports wagering services to US casinos.
Late last week, the GCB put forth a document explaining the company’s offenses and the price they’ll pay for those violations. Overall, the $250,000 fine the company will be paying is not so bad, especially when you consider that this was their third offense. It’s likely that the GCB took into account that CG Technology self-reported the violations, which occurred in 2016 and 2017. According to the report, the company attempted to correct the errors that allowed the out-of-state wagers to go through, but was unsuccessful in the attempt.
The GCB also dinged CG Technology for a software glitch that allowed a number of players who placed wagers at the exact same time to receive different odds. The problem here is that many of those players did not get the odds they were expecting.
This is not CG Technology’s first run in with the GCB in recent times. Since 2014, the company has been hit with more than $25 million in fines for everything ranging from its connections to money laundering operations to standard software glitches. The previous fines, and indeed the current fines, are not endangering the company’s ability to provide sports betting software to Nevada casinos.
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