Sportsbook Financial

DraftKings Hit with $100,000 Fine by New Jersey Regulators

Since the launch of online sports betting in New Jersey in August 2018, DraftKings has consistently been one of the top two sportsbooks in the state by handle and revenue

DraftKings Hit with $100,000 Fine by New Jersey Regulators
DraftKings Hit with $100,000 Fine by New Jersey Regulators

The New Jersey Division of Gaming Enforcement (DGE) has imposed a significant fine on DraftKings for submitting incorrect sports wagering data over several months, the Associated Press reported on July 8. In a letter dated June 16, DGE’s acting director Mary Jo Flaherty admonished DraftKings, stating, “These types of gross errors and failures cannot be tolerated in the New Jersey gaming regulatory system.” Flaherty labeled the company's actions as “unacceptable.”

According to the AP, the DGE has fined DraftKings $100,000 for the violation. Each month, New Jersey’s 16 licensed mobile sportsbooks are required to report their financials across various categories, including handle (total amount wagered) and revenue, with details broken down by sport and specific mention of multi-leg parlay bets. The DGE found that the Boston-based company had over-reported the amount wagered on parlays and under-reported in other areas.

Since the launch of online sports betting in New Jersey in August 2018, DraftKings has consistently been one of the top two sportsbooks in the state by handle and revenue, alongside FanDuel. However, Fanatics Sportsbook briefly surpassed DraftKings in early 2024, which is believed to have occurred after some VIP customers moved their business from DraftKings to Fanatics.

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