Gambling Regulators in New Jersey have imposed a fine of $10,000 on PokerStars. The betting site was fined for taking bets on New Jersey college basketball teams. The bets accepted on state basketball teams violated the state’s sports betting laws.
Following complaints about the operator accepting sports wagers on the state’s college basketball team, the state Division of Gaming Enforcement initiated an investigation to verify the accusations.
In its investigation, the gambling regulator found that PokerStars had accepted a total of 216 wagers on a game between Rutgers and Eastern Michigan University. The total amount wagered on that game was over $2,700.
It was also revealed that the operator accepted wagers on the Monmouth University and the University of Pennsylvania college basketball game. The amount wagered has not been disclosed by the investigators.
While the gambling authority ensured that all wagers be returned before the games took off they also charged the company for violating the state’s sports betting laws by accepting wagers. Following the investigation, PokerStars has been fined $10,000 which it has agreed to pay as a settlement.
Meanwhile, in New Jersey, the lawmakers have already initiated talks to increase the limit of fines for those who are found to be violating the state’s gambling laws and taking illegal sports bets on state college teams. The proposed range of fines starts from a minimum of $20,000 to a maximum penalty of $100,000.
Rep. Ralph Caputo had introduced the bill to increase the fine, and it is yet to be voted in the house.
Accepting wagers on college teams from New Jersey is illegal in the state, and it is also prohibited to take bets on all college games which are hosted by the state.