As announced by LPT, after an unscheduled inspection, UAB “Amber Gaming” was assigned 15 thousand. EUR fine, the company was warned about the possible suspension of the license to organize totalizators.
Such a decision was made after it was determined that the bets on the winner of the betting event between the Swedish basketball teams “Tureberg” and “AIK Basket” and the advantage bets on October 25, 2023 were voided without justification.
The company is obliged until 2024 at the latest. May 13 eliminate the established violation
“The company’s unscheduled special inspection was carried out after receiving a complaint from the applicant regarding the fact that the company, based on point 12.4 of the regulation on the organization of remote gambling, made a decision to cancel the bets on the winner of the match and the advantage bets, this decision was motivated by the information received from the offer supplier that in the event Tureberg vs. AIK Basket (2023-10-25) was fundamentally wrong in setting the odds because the wrong team was set as the favorite for the match. Also, the company stated that it took into account the odds offered by other betting companies regarding the aforementioned betting event and found that the odds offered by the company are indeed wrong,” the report reads.
The company based the cancellation of the bets on two grounds: it made a mistake by setting an obviously wrong betting coefficient and the outcome coefficient was fundamentally different from the same outcome coefficients offered by other betting companies at the time of bet acceptance, LPT states.
During the inspection, LPT found that in the betting market, the interval between the odds of which team will win the betting event Tureberg vs. AIK Basket, was quite large and there were considerable fluctuations in the coefficients for the betting event, so it is not possible to draw an unequivocal conclusion that the favorite of the betting event, as the company claimed, should have been the team “AIK Basket”.
“After evaluating all the collected evidence, it was found that in the betting market, when predicting the betting event Tureberg vs. The result of AIK Basket (2023-10-25) the team AIK Basket was not always considered the winner of this match, and the betting odds of 2.40 for the victory of AIK Basket offered by the company were not exceptional and did not obviously differ from the betting odds set by most other betting companies, therefore the odds offered by the company for the winner of the competition and the advantage bets cannot be considered an obvious mistake of the company, which gave grounds for canceling the bets for the winner of the match and the advantage bets, in accordance with clauses 12.4 (i) and 12.4 (vi) of the company’s regulation,” the LPT statement reads.
Decisions made by the Supervisory Service are not final and may be appealed in accordance with the procedure established by the Law on Administrative Cases of the Republic of Lithuania.
This is the second fine of this size in just over a month. In April, we announced that gambling organizer Amber Gaming was fined 15,000 for restricting bets. EUR fine.
The fine follows an unscheduled inspection of the company after the LPT received a complaint from seven applicants in October 2023 about Amber Gaming’s actions in restricting betting.
Tags: betting company thousand EUR fine set wrong favorite voided players winnings Business
