Garden State lawmakers are considering a significant move when it comes to NJ sports betting.
On Thursday, the New Jersey Assembly Tourism, Gaming and the Arts Committee sent forward A4905 with a 5-0 vote, endorsing the bill that would ban college player props from NJ sports betting. A Senate companion bill is also alive.
“I believe that it is our responsibility to ensure that we set the best example we possibly can for all others who wish to follow our lead,” sponsor Assemblyman Sterley Stanley said. “Even as a staunch supporter of the sports betting industry, I believe it is incumbent upon us to recognize the incredible pressures that college athletes face between their academic and athletic responsibilities.”
Should the bill pass through both chambers, New Jersey would be the latest state to ban college prop bets. NCAA President Charlie Baker called for wide adoption of the rule earlier this year.
College prop bet trend
Baker began advocating for the banning of prop bets because of a rise in athlete harassment. He hopes for a nationwide ban on college props.
Several markets have taken action following Baker’s request, including Louisiana, Ohio and Maryland.
Overall, 13 states do not allow college props:
- Arizona
- Colorado
- Louisiana
- Maryland
- Massachusetts
- New York
- Ohio
- Oregon
- Pennsylvania
- Tennessee
- Vermont
- Virginia
- West Virginia
NJ sports betting college rules
New Jersey paved the way for legal sports betting in the US, but it has kept tight rules for college betting.
The state does not allow bettors to wager on in-state colleges or on college games played in New Jersey.
Citizens JMP Securities estimates sportsbooks could lose out on $200 million in annual revenue from mass college player prop bans. That would equate to approximately 2% of the US sports betting revenue generated in 2023.
“At the end of the day, bettors will find a way to wager on events and players, and we believe the effort to ban individual player betting will likely only push players back offshore,” JMP’s Jordan Bender said earlier this year.
