Topic: PokerStars fined $10,000 - page 2. (Read 306 times)

I agree. No matter how much they were fined, what's illegal is illegal. You know what PokerStars said when they were asked why it happened? They said it was just a technological mishap. Nothing like that could ever be believed as a mere accident. I think it was all intentional.

That's the biggest fine in history of New Jersey as per OP though its not that high compare to other state but I think the sanctioned is just right for just a small mistake of PokerStars and i think this move can't really affect the market of PokerStars. It just happen that New Jersey are too strict on their rules and PokerStars have to strictly follow it from now on.

$10,000 is just peanuts to PokerStars compared to the revenue that they get daily. I believe the New Jersey Department of Gaming Enforcement is just making a statement and showing to other gambling sites that they are monitoring all their moves PokerStars is just unlucky that there we're chosen to be an example.

Just because of the 16 excess wager, they have been fined. Well, everyone is correct that this amount is a piece of cake to a giant poker company but they were fined because they did wrong and did something against the rule.

Yes, it is obvious that this amount isn't too high for them but they broke a rule.

Most people replies on here do focus only on the amount of $10k.Yes,this isnt really that big and i dont consider as a slap for Pokerstars.This amount is just too small and can be handled on piece a cake.
The thing here is that they do go overboard on law which is really unprofessional for a known gambling company.

This situation will happen again and again. Not only for PokerStars but for small time poker companies. Money is the trigger why they go against the law. And if the law caught them, then it's a bad day for them but if not, betting goes on.  Paying that amount is easy peasy as they can always get that money fast.

You called this the highest sports betting fine? Is $10,000  that big for the largest poker website in the world? I guess they can afford to pay, as they probably making way more than this on  a daily basis.

There was a report done about a month ago while the march madness tournament was still going on for 60 minutes. They were saying these college basketball matches were not good for these large books to allow them to bet on simply because those players who do not get paid much to play in the games are enticed to throw a game when a large sum of money is involved. It has happened in the past and they prohibited it in new jersey and several other states in america to offer wagers on college games.
https://www.cbsnews.com/news/sports-betting-the-basics-60-minutes
But as it was mentioned before pokerstars fine doesnt mean anything to them and can afford to pay it without any thought. Because if they can pay neymar and usain bolt to do commercials for them then they have deep enough pockets to pay a $10k fine without any worries.

It is seriously funny how they are trying to make it look like its a punishment while they fully know that its nothing. Pokerstar probably makes that much money in just couple of minutes so punishing them for it isn't really repelling at all. They will continue doing so forever until they literally take all the money illegally and why would they after all they make more than that to begin with. I feel like if we can continue to increase these punishments like it went from 2 thousand to 10 thousand with the same mindset to 50 than 250 then more we can actually make it somehow dangerous for these websites to let people bet illegal.

I am not against illegal stuff when it comes to sportsbetting since we play that here all the time but when a big corporation doesn't follow the law and than gets punished only $10k it is just not even funny anymore.

It's not always about the amount, it's about principle! If a certain company is being regulated under a certain law and if that company is violating that law, a penalty provision will always be there! Even though the law of 200 wagers literally makes no sense, but it's a law! Like in Indonesia, you can get death penalty if you musterbate. Doesn't make sense but it's a law!!

It’s a big fine but really in the grand scheme it’s nothing to them & they’ll pay it quite easily. Will a t as a warning against any further indiscretions though as a future fine may be even higher.

Regulation is a still a rules every gambling industry must obey, if it does't pay its inevitably processed into a more severe legal section. You're right is a small amount for large companies with profits exceeding that as pokerstars, they will be more selective in select matches well from this incident pokerstars will comply more with all the rules that apply.

The law is equal for everybody but although this is the biggest amount fined so far in NJ it is still a ridiculous amount of money for a company like Pokerstars.

This probably won't harm at all Pokerstars.I see that is the first time such amount is fined but it is still irrelevant to the gambling community.

Seems like NJ is the only state which prohibits such wagers which is why I find it surprising that PokerStars would do this. These fines were imposed on others too, but they were not as popular as PokerStars.

Rules are rules though at the end of the day.

Yup.  They're like only the leading poker site in world.  Lol.

Nothing to see here folks.  Move along.

We should not focus at the amount of the fine, but it is more about the mistake made by PokerStars. It is very unprofessional behavior for such a big company like PokerStars, I'm just wondering why they did it.

What's $10K to PokerStars? It's like a small slap on the wrist. I expected a much bigger fine for such a large and prominent gambling business.

The whole story.

"The New Jersey Division of Gaming Enforcement (NJDGE) has fined PokerStars operator The Stars Group $10,000 (£7,690/€8,890) for accepting bets on basketball games featuring teams from two colleges in the state.

PokersStars processed a total of 216 bets on the game between New Jersey’s Rutgers University Scarlett Knights and the Eastern Michigan University Eagles in November of last year. In total, wagers on the game amounted to $2,657.89.

PokerStars, owned and operated by The Stars Group, also took a single wager on the game between New Jersey’s Monmouth University Hawks and the University of Pennsylvania Quakers in January of this year. The NJDGE did not disclose the value of this bet. However, New Jersey's gambling regulations prohibit licensees from offering bets on sports involving teams from colleges or universities located in the state.

PokerStars has acknowledged that it was in breach of state law and has refunded all of the bets that were placed in New Jersey on both games. The operator has also accepted the fine of $10,000 as issued by the NJDGE.

PokerStars is the latest licensed operator to face a fine for breaching gambling laws in New Jersey. Last month, GVC Holdings-owned bwin.party was fined $81,000 for allowing self-excluded players to gamble via its online platform in the state.

In January, Rush Street Interactive was also fined $30,000 for allowing minors to access its igaming services, becoming the first operator to face a punishment for this offence in New Jersey."

https://www.igamingbusiness.com/news/pokerstars-fined-over-college-betting-new-jersey

---

It suits them well since they make a bet on a college basketball event and they know that it is prohibited in their state. This is a common mistake of each and every casino and sportsbook out there and yet they blindly forget about the law just to make some money.

On April 22, the largest poker site in the world was slapped with the highest sports betting fine ever sanctioned by New Jersey.

PokerStars, the operator of the sportsbook BetStars NJ, was asked to pay $10,000 — an amount way higher than what used to be the biggest sports betting fine in NJ which was $2,000. The sanction was given after the New Jersey Department of Gaming Enforcement found out that the bookmaker accepted over 200 wagers on sports which the state law prohibits from being included in the events that sportsbooks offer to punters for betting.

Full story: POKERSTARS FINED $10,000 FOR TAKING COLLEGIATE SPORTS BETS