N.J. fines DraftKings for sports betting inaccuracies

N.J. gambling regulators have fined DraftKings $100,000 for "reporting inaccurate sports betting data to the state," one of the "most sternly worded rebukes they have ever issued" for what it called "'unacceptable conduct' that demonstrated weaknesses in the company’s business abilities." The errors resulted in regulators "having to post corrected financial data for several months," something that "had not happened in 13 years." The mistakes involved "overstating the amount of money wagered on multi-tiered bets, or parlays, and understating other categories of wagers." DraftKings told regulators that "an update to a newly created database contained a coding error that resulted in the miscategorization of certain bets." The company has told the state it has "corrected the coding error, has discussed the significance of the error internally, trained staff and created additional monitoring, among other steps" (AP, 7/8).