PointsBet customers have a lot to celebrate this March Madness. The popular sportsbook has introduced 3 brand new wagering products for college basketball that are sure to delight customers throughout the captivating March Madness period. The three products will be introduced as part of PointsBet’s recent integration of the OddsFactory technology.
The new products will go a long way in providing punters with a broader array of options regarding in-game wagering. With the array broadened, PointsBet will effectively expand its brand for in-play markets, pre-game, as well as same game parlay markets. On top of that, the integration of the proprietary technology will also present newer market types for the NCAA basketball tournament in the form of Lightning Bets.
Lightning Bets go by many different names depending on the platform being used. However, essentially it is like wagering on the spread. The only difference is that with Lightning Bets, each point that goes under or over the spread multiplies one’s wager. When a punter utilizes Lightning Bets, they get access to a wider array of real-time micro sports betting markets, as well as PointsBet’s extremely popular Live Same Game Parlay feature.
Examples of markets that will be accessible for college basketball will include the team that scores the next point, the next four markets, as well as next-minute markets. PointsBet has become one of the most highly sought-after platforms for customers looking for a high-quality live wagering experience. At present, PointsBet offers the most varied live, in-game wagering markets available in the sports betting market.
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Features to Be Limited in Certain States
Although these new features will certainly help to keep PointsBet customers engaged and happy, not all punters will be able to enjoy these new additions. PointsBet is operational in several states including Pennsylvania, Iowa, Colorado, Michigan, Illinois, Virginia, New York, West Virginia, New Jersey, and Indiana. However, each state has its own betting rules that must be adhered to.
As such, Lightning Bets will not be available in states where in-state collegiate teams and events betting is restricted. This means PointsBet customers in New York will not have access to Lightning Bets. Additionally, since there are betting restrictions in Illinois that ensure that wagers on in-state collegiate teams are placed in person, this feature will also be hidden from Illinois bettors.
Plus, in Illinois, wagers on in-state college teams must not only be placed in person but can only be made on the outcomes of the games and not the individual performances of athletes. Lightning Bets will also be hidden to punters in Virginia and Iowa as wagers on in-state collegiate teams and prop wagers on all collegiate tournaments are banned in the two states as well.
Wagers on In-State College Teams
Last year, Governor J.B. Pritzker signed a measure that permits limited gambling on in-state college teams. Since then, bettors have been allowed to place bets in person at any state-licensed sportsbooks on the outcome of games played by college teams in the state. However, this measure does not allow punters to place wagers on the performance of an individual athlete or in-game action.
While gambling on college games has been allowed in Illinois since sports wagering was legalized in 2020, the law previously outlawed betting on in-state teams. This measure is set to be repealed automatically in 2023 unless lawmakers grant an extension. Before the measure was approved, athletic directors at Division I schools in the state had been against the measure citing fears regarding the athletes’ mental health, as well as their safety.
And it’s not just Illinois that has cited such trepidations for their athletes’ wellbeing. Out of the many states that currently permit legal sports wagering in one form or another, at least 10 have some prohibitions on wagering on collegiate athletics. For instance, since New York legalized its mobile sports betting market this year, residents are finally allowed to bet on this years’ March Madness.
However, they are prevented by law from placing bets on any college programs in-state. The great news is that punters can wager on college games played within the confines of the state. The only pre-requisite is that the game in question must involve 2 out-of-state programs. The situation is very similar across the border in New Jersey where wagering on in-state teams is also proscribed.
As such, if New Jersey punters want to place bets on an in-state team, they have to cross the border into New York or Pennsylvania in order to do it legally. Last year in November, a ballot measure that would have approved wagering on in-state teams was rejected by voters. The prohibition on in-state competitions was implemented within New Jersey’s original betting rules.
The rules in New Jersey are so strict that wagers on college games that feature out-of-state teams is also not allowed. In Pennsylvania and Indiana, mobile sports wagering is permitted on any college game. However, Pennsylvania has banned prop wagers on the performances of individual athletes. In Indiana, prop wagers are available but only before the state of the match which means that punters cannot place in-play wagers.
Placing bets on in-state teams is also banned in South Dakota, Washington, as well as Virginia. Indiana allows prop wagers before the start of the game but player props at any point are prevented in Iowa, South Dakota, Tennessee, Mississippi, Colorado, as well as Arizona.
Final Thoughts
Proponents of sports betting on college sports worked hard to get measures approved in the various states. However, they faced a lot of opposition and still do. Non-supporters of collegiate betting have always expressed their concern regarding 2 things; the integrity of sporting tournaments, as well as protecting the rights and well-being of the college athletes from betting interests.
The argument has always been that since athletes in college events are often poorly compensated for their efforts compared to major league athletes, that makes them more vulnerable to match-fixing schemes. However, in the many states that allow in-state college betting, there hasn’t been any evidence that suggests integrity threats. As such, it is expected that more and more states will legalize in-state betting in the coming years.
