Lawmakers in New Jersey are considering joining other states in prohibiting prop betting on college sports. If this happens, it will significantly impact sports betting in the state.
The New Jersey Assembly Tourism, Gaming, and the Arts Committee recently sent the relevant A4905 bill forward with a 5-0 vote, so it’s certainly progressing. If the bill passes through both chambers, New Jersey will become the latest state to ban college prop bets.
Why are college prop bets under scrutiny?
NCAA President Charlie Baker is one of the main voices speaking out about the issue of prop bets in college sports. Prop bets are currently permitted in 25 of the 38 states where sports betting is legal and 20 of the 31 states where online betting sites are legal. Now it looks like New Jersey, which has both legal sports betting and online betting, will change their stand on prop betting.
The proposed legislation in New Jersey seeks to ban prop betting that is tied to the performance of individual players. The reason for this is the pressure this type of bet puts on players, some of whom have been subjected to harassment and intimidation.
Following Baker’s request for changes, several markets have already reacted. These markets include Louisiana, Ohio, and Maryland. Lawmakers in New Jersey are now pushing for the state to join them.
Proposals also put forward to prohibit collegiate props betting nationally
Proposals to ban prop betting on college sports are not only being put forward in Jersey. Two lawmakers have also included them in their attempts to introduce new regulations on sports betting at the federal level.
If the Supporting Affordability and Fairness with Every Bet Act, or SAFE Bet Act, proposed by Senator Richard Blumenthal and Representative Paul Tonko, is passed, it will impact sports betting throughout the US.
These two top critics of the sports betting industry are dedicated to passing the Act, which will require the 38 states where sports betting is currently legal to complete an application process every three years.
The Act includes several restrictions designed to strengthen control over the US sports betting industry. A ban on collegiate prop betting is one of the main restrictions, together with the following:
● No sports betting advertising during live sporting events or between 8 a.m. and 10 p.m.
● A ban on incentives, such as bonus bets.
● Limiting bettors to a maximum of five deposits in 24 hours.
● No use of artificial intelligence to monitor a bettor’s wagering habits.
● Credit card deposits prohibited.
● Potential affordability checks for individuals who bet more than $1,000 in 24 hours.
There is no guarantee that this proposed federal regulation will happen, especially as so many objections have been raised. Unsurprisingly, the American Gaming Association has been one of the main sources of these objections, with Senior Vice President Chris Cylke calling the proposed intervention “heavy-handed” and saying it’s an affront to state legislatures.
In the immediate future, the proposed legislative changes in New Jersey are more likely to happen than the federal act. So, the prohibition of collegiate prop betting will likely next happen in the state.
