The owner of an online horse racing betting platform is investigating claims of fraud.
FanDuel — the owner of horse racing operator TVG — has opened an investigation into suspicious wagers placed on Wednesday in exotic pari-mutuel betting pools at several racetracks across America. The probe, which saw FanDuel recognize “technical issues and potential fraud,” has resulted in several TVG accounts being shuttered. The accounts bet millions on superfecta and super high five wagers — a first for many of the racetracks involved, according to The Paulick Report.
“In cooperation with regulatory authorities, the company is undertaking a full review of this matter and will make public additional details at its conclusion,” said FanDuel in a statement.
Despite the ongoing investigation, Churchill Downs — one of the racetracks included in the probe — paid out one of the exotic betting pools “as is,” according to Horse Racing Nation. The racetrack, which is located in Louisville, Kentucky, handled $751,000 on the super high five race that is in question. In comparison, Churchill Downs handled roughly $967,598 for this year’s Kentucky Derby.
Churchill Downs paid out $388.43 per $1 wagered on the race in question, per TwinSpires. The horse racing complex vowed that no other betting pools were impacted by the potential fraud.
Other racetracks involved in FanDuel’s investigation include Monticello Raceway and Hollywood Casino at the Meadows — two facilities that offer harness racing. The racetracks saw two exotic betting pools surpass a $1 million handle on Wednesday with another at more than $950,000.
Finger Lakes Gaming & Racetrack reported a $1.4 million handle on a Wednesday afternoon race. The race, which was the fifth race of the day, was the highest pool on Finger Lakes’ card.
FanDuel is expected to have more information on its ongoing investigation in the coming days.
