An online horse racing betting platform has found the source behind a series of suspicious bets.
FanDuel has attributed a collection of suspicious wagers to a computer glitch on its horse racing platform, according to Horse Racing Nation. Last week, the sports betting and fantasy operator opened an investigation following suspicious wagers in exotic pari-mutuel betting pools at four racetracks across the country. The probe led to several accounts being suspended following millions being wagered on superfecta and super high five markets. FanDuel account holders were able to reap the benefits of a glitch that debited balances on the base cost of a wager instead of the total cost of a wager. The malfunction led to a slew of cost-friendly bets for customers that have been difficult to track.
The glitch only impacted FanDuel Racing accounts. FanDuel owner Flutter Entertainment also operates online horse racing operator TVG, which the company acquired for $50 million in 2009.
Nationwide issue
The suspicious wagers have impacted some of America’s most storied racetracks, including Churchill Downs. The host of the Kentucky Derby handled $751,000 on one of the super high five races under investigation. In comparison, the Louisville-based complex handled around $967,598 for this year’s Kentucky Derby which took place in May in front of 150,000 people.
The FanDuel glitch has also affected Hollywood Casino at the Meadows and Monticello Raceway. The two racetracks, which offer harness racing, saw two exotic betting pools exceed a $1 million handle with another at more than $950,000 during FanDuel’s malfunction period.
Finger Lakes Gaming & Racetrack, which was also impacted by the glitch, reported a $1.4 million handle during an afternoon race last week — the highest pool on Finger Lakes’ card.
