A bill has been submitted in New Jersey calling for Sportsbooks to be punished if they offer college sport wagers.
Proposed by the NJ Assembly’s Ralph Caputo, it is aimed at preventing any wagering on New Jersey College sport. This either for college events taking place inside the state or involving NJ College teams playing outside of it.
Caputo wants operators who break the NJ law prohibiting College sports betting to be charged with a felony. He has called for them to be fined and their licenses revoked for a period of up to 10 days. The fines imposed should be for a minimum of $10,000 and a maximum of $20,000.
The Bill received 6 votes and one abstention
The bill was introduced at the end of February when it was submitted to the Assembly Tourism, Gaming, and Arts Committee. It has subsequently moved on to a second Chamber vote where it received six votes in its favor with one abstention.
Prohibited sports events are defined as any collegiate sport or athletic event which takes place within the state boundaries. This definition also includes events played outside New Jersey if it includes a NJ College team or participant.
The new system will see to it that fines and suspensions are imposed by two different bodies. One is the New Jersey Division of Gaming Enforcement (DGE). The other is the New Jersey Racing Commission.
Fines imposed by the DGE would be paid directly into the state’s Casino Control Fund. Those handed down by the Racing Commission will have to be paid directly into the New Jersey General Fund.
