PENN Entertainment Could Face Punishment For Rece Davis’ ‘Risk-Free’ Comment
Regulation · 2024-06-06

PENN Entertainment Could Face Punishment For Rece Davis’ ‘Risk-Free’ Comment

PENN Entertainment faces possible penalties in Massachusetts for a pair of separate sports betting violations.

Among the violations was a comment made by ESPN’s Rece Davis on a March 24 episode of “College GameDay.” After ESPN betting analyst Erin Dolan shared NCAA Tournament betting advice, Davis referred to her suggestion as a “risk-free investment.”

The Massachusetts Gaming Commission has rules prohibiting the use of “risk-free” language when describing bets that come with financial risk. Davis quickly clarified his comments on social media, saying he made the comment in jest.

“Sports are unpredictable,” Davis wrote on X. “Wagering is tricky. So let’s agree to manage monetary risks appropriately. I’m sure most recognized my comment was tongue-in-cheek.”

Despite a swift apology at the time, commissioners Thursday suggested holding an adjudicatory hearing on the matter at a later date, requesting that its Investigations and Enforcement Bureau (IEB) take a “deep dive” into any other possible violations on ESPN programming. PENN Entertainment partnered with ESPN to launch ESPN BET in November, which led to increased betting discussions on ESPN programs.

“I want to see, is this a one off?” Commissioner Eileen O’Brien said.

O’Brien compared Davis’ comment to the MGC’s previous discussion of Barstool Sports’ “Can’t Lose Parlay.”

PENN Entertainment’s other violation stems from accepting prohibited wagers.

In November of 2024, ESPN BET accepted 249 wagers worth $12,000 on 27 college basketball games involving teams not in leagues approved by the Massachusetts Gaming Commission. The MGC suggested this violation be reviewed by IEB, with IEB asked to suggest a possible penalty for PENN Entertainment at a later date.

Violations related to college sports betting are fairly common in Massachusetts, with Fanatics Sportsbook receiving a $10,000 penalty last month for accepting a $50 futures bet related to a Boston College football game. Encore Boston Harbor was fined $40,000 earlier this year for college sports betting infractions related to in-state teams.

The MGC has unique rules about in-state college wagering, which has led to several fines for operators since the launch of legal sports betting in Massachusetts.

Additionally, FanDuel faces a possible financial penalty for accepting three wagers totaling $11 on Boston College men’s basketball NCAA Tournament futures. The bets were accepted before the NCAA Tournament field was announced.

Boston College didn’t make the field, and FanDuel voided the small wagers and refunded the bettors. Despite only a few minuscule wagers being accepted, it’s likely FanDuel will face a fine for allowing bets on Boston College to be accepted.

The MGC requested the IEB review the violation and recommend a penalty.

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