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North Carolina in the Final Four pays out in New Jersey

New Jersey bettors who bet on North Carolina reaching the Final Four have already been paid out due to a quirk in the state’s sports betting regulations.

In the state of New Jersey, you cannot bet on a college team that is based in the state, regardless of the sport.

This means that sports fans in the state couldn’t bet at all on Saint Peter’s in Jersey City for this tournament. They also aren’t usually able to bet on teams like Rutgers, Seton Hall or the dozens of other programs across New Jersey. Bettors also cannot bet on games hosted in the state, regardless of where the competitors are based.

It also means that UNC’s roughly 25/1 odds of winning the East region and reaching the Final Four have already been redeemed.

North Carolina coach Hubert Davis
North Carolina coach Hubert Davis
Getty Images

Action Network has confirmed these payouts at Caesars Sportsbook, PointsBet, WynnBet and BetMGM.

Smart bettors can just cross the bridge or tunnels into New York, or take a short drive to Pennsylvania if they’re convinced of a New Jersey university. But those who don’t want to spend the time can’t legally wager online sports at their alma mater since New Jersey in 2018.

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Get a risk free bet on March Madness

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Bet $10, win $200 if either team hits a 3-pointer.

21+. New customers only. NY, AZ, CO, CT, IA, IL, IN, MI, NJ, PA, TN, VA, WV only. The terms and conditions apply

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Get two risk free bets up to $2,000

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Wager $10 and get $200 in free bets

21+. New customers only. NY, AZ, CO, CT, IA, IL, IN, MI, NJ, PA, TN, VA, WV only. The terms and conditions apply

It’s an ordinance that has been rebuffed by residents and lawmakers alike. In 2021, a constitutional amendment was introduced that would have allowed betting on college sports in the state.

And later that year, a voting question was asked that would allow voters to decide whether New Jersey collegiate sports could be bet on. The measure was not adopted, with 57 percent of voters saying no.


Betting on March Madness 2022?


The state didn’t include wagering on collegiate sports in its original 2011 referendum that approved on-site sports betting because of concerns of interest groups like the NCAA about unpaid amateur athletes throwing games.

But with NCAA athletes now allowed to sell their name, image and likeness in the open market, lawmakers believe the incentive for athletes to pitch games has precipitously decreased.

The current regulations can also help push bettors towards illegal books. Ryan Butler, a former betting legalization correspondent for Action Network, wrote last year that New Jersey’s ban on college sports betting is one of the main factors pushing potential legal bettors into illegal markets.

Despite the absence of New Jersey bettors, Saint Peter’s is the public’s third most popular choice to win the title this year. The Peacocks trail only Duke and Kansas at BetMGM to win March Madness straight.

Fifteenth-place Saint Peter’s opened as a 3,000/1 underdog to pull off the miracle. Now? The peacocks are only 30/1.

https://nypost.com/2022/03/27/north-carolina-in-final-four-pays-out-in-new-jersey/ North Carolina in the Final Four pays out in New Jersey

JOE HERNANDEZ

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