Roselle resident Mark Aiello thought he was on the brink of a life-changing payout when he saw his March Madness bets soar to nearly $400,000. Yet, in a shocking twist, the funds vanished from his account without explanation.
Aiello, a military veteran and father, placed a total of $2,000 on specific player rebounds and assists for a Chicago Bulls vs. Indiana Pacers game. To his delight, those wagers added up to a breathtaking $389,000. “Once the game was over, I was just, my heart was racing,” he recalled. But within hours, BetMGM nullified his bets, leaving him empty-handed.
How can other sports enthusiasts avoid ending up empty-handed after a major win?
This incident highlights the risks that some gamblers may face when betting online. Aiello isn’t alone: a Virginia bettor named Kris Benton encountered a similar setback when his $214,000 payout was canceled for the same reason—an “obvious error.” The American Gaming Association estimates that over $3 billion was bet on college hoops this year, so it’s no surprise these stories are making waves. Still, it raises serious questions: what can bettors do to protect their hard-earned winnings?
Key factors every gambler should watch to protect massive potential payouts
To help others stay safe, Aiello advises keeping complete documentation of each wager. Wondering what else you can do? Before placing any bets, ensure the platform is licensed and regulated by your state. That way, if anything goes wrong, you can file a complaint with gaming authorities. In Aiello’s case, BetMGM claimed there was an “obvious error,” yet he remains unsure how the odds were supposedly incorrect.
Below is a brief table summarizing potential causes for canceled winnings:
| Potential Cause | Explanation |
|---|---|
| Obvious or technical error | Betting odds posted incorrectly or a system glitch |
| House rules interpretation | The platform’s internal policies allow voiding certain wagers |
| State regulatory conflict | The bet type or size violates local gaming regulations |
Pay attention to any terms and conditions that discuss these scenarios. If your bets are canceled without a valid explanation, you might try contacting customer support and saving all chat transcripts.
Essential steps to stay informed, regulated, and prepared for any surprises
- Check licensing: Only bet through apps monitored by state gaming boards.
- Document all activity: Take screenshots of wagers, confirmations, and void notices.
- Know your rights: Familiarize yourself with the platform’s dispute process.
- Seek support: Contact regulators if you suspect unfair cancellations.
Aiello’s story serves as a cautionary tale for anyone placing major wagers. Though Benton eventually received a full payout after publicizing his situation, Aiello is still in limbo. That’s why it’s crucial to pick a reputable platform, keep thorough records, and stay aware of your legal options.