AGCO Imposes $252K Fine on FanDuel Over Integrity Violations
AGCO Penalizes FanDuel for Integrity Failures
The Alcohol and Gaming Commission of Ontario (AGCO) has imposed a substantial fine on FanDuel following concerns related to betting integrity. Regulatory authorities require operators to actively monitor and address suspicious betting activities to uphold the integrity of the gaming industry.
FanDuel Accepted Bets Despite Integrity Warning Signs
The AGCO announced that FanDuel Canada must pay a penalty of CAD 350,000 (around $252,000 USD) due to their failure to properly detect and report unusual betting patterns and potential match-fixing activities. This fine stems from incidents involving events associated with known integrity risks.
An investigation revealed that between October 23 and November 30, FanDuel accepted 144 bets from three Ontario-based player accounts on matches from the Czech Table Tennis Star Series. These matches exhibited multiple indicators of possible match-fixing.
The suspicious signs included abrupt changes in betting trends, sudden shifts in betting lines focusing on specific athletes, an unusual surge in bets on players predicted to lose, high win rates averaging close to perfection, and coordinated wagers placed across several accounts.
Remarkably, these concerns were not new; the specific tournament series had been previously flagged for integrity issues. Despite this, FanDuel continued to allow bets on these matches over multiple weeks, failing to fulfill its duty to identify and act on suspicious activities in a timely manner.
Maintaining Public Confidence in Gaming Operators
Due to FanDuel’s non-compliance with Ontario’s gaming regulations, the AGCO levied the significant fine. Operators facing such monetary penalties may appeal the decision to the License Appeal Tribunal within 14 days of the announcement.
The AGCO reiterated that all licensed gaming operators must diligently monitor for suspicious betting activity and report any findings to governing bodies. This vigilance is vital for preserving fair play and protecting players.
Dr. Karin Schnarr, AGCO’s CEO and registrar, stressed the critical role that gaming operators play in combating fraud in both betting and sports sectors.
In today’s environment of increased scrutiny over sports integrity, it is essential for iGaming providers to be alert and proactive in recognizing suspicious betting behavior and to take decisive action to safeguard their customers. We are committed to enforcing high standards and holding operators accountable to maintain public trust.
Dr. Karin Schnarr, CEO and Registrar, AGCO
Previously, the AGCO issued a CAD 105,000 fine to theScore after it permitted a high-risk player to wager CAD 2.5 million, leading to significant losses of approximately CAD 230,000.
