BetMGM to Pay Fine of $25,000 on Betting Wager on Basketball Game

State law prohibits betting on New Jersey college teams, as well as on any collegiate game played in New Jersey — even if they feature teams from other states. That same law is preventing fans of Jersey City-based Saint Peter’s University from betting legally on their Cinderella team’s Sweet 16 game Friday.

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BetMGM took less than $100 worth of bets last year on New Jersey college basketball games that weren’t supposed to be wagered on. Now, it will pay a $25,000 fine.

New Jersey voters had a chance to change this law last November, but overwhelmingly defeated a referendum that would have allowed such bets. The original ban stemmed concerns from some lawmakers about maintaining the integrity of college athletics.

If New Jersey fans want to bet legally on the Saint Peter’s game, they will have to travel out of state to do it, with New York and Pennsylvania being close options.

New York, South Dakota, Virginia, and Washington are among other states that have banned bets on in-state college teams.

Source: BCNN1

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