New Jersey fined DraftKings $100,000 for reporting inaccurate sports betting data to the state, citing “unacceptable conduct” and significant business weaknesses. The errors, which involved overstating parlay wagers and understating other bets, led to the need for corrected financial data, a situation not seen in 13 years. The inaccuracies affected tax returns for Resorts Digital, necessitating corrections and reposting of documents. DraftKings attributed the mistakes to a coding error in a new database.
DraftKings’ Impact on New Jersey Gambling Market: Key Figures and Offers
DraftKings is a major player in New Jersey’s online gambling market. The company launched its daily fantasy sports (DFS) platform in NJ in 2012 and has since expanded into online sports betting and casino games. DraftKings sportsbook entered the New Jersey sports betting market in 2018, quickly gaining significant traction. As of early 2023, DraftKings holds about 32% of the online sports betting market in the United States, including NJ. The site now also offers Draftkings casino games and bonuses like a deposit match up to $1,000.
