Some North Carolina Futures Bets Will Cash Even if They Lose to Saint Peter’s
On Sunday, the North Carolina Tar Heels face off against the Saint Peter’s Peacocks to determine which team comes out of the East Region in this year’s NCAA Tournament. But if you’re a bettor who used BetMGM in New Jersey to place a futures bet on North Carolina to win the East, you’ll be paid out even if they lose.
Here’s why.
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New Jersey prohibits betting on any of the state’s college teams or on any collegiate sporting event taking place in the state. The East Region portion of the 2022 NCAA Tournament is being played at Philadelphia’s Wells Fargo Center, but Saint Peter’s-North Carolina’s opponent in Sunday’s Elite 8 matchup to determine the winner of the East-is located in Jersey City, New Jersey.
New Jersey bettors were allowed to pick from 15 of the 16 teams (the initial round of 64 is split into four regions of 16 teams each) when placing futures bets on the East Region, with Saint Peter’s being the lone exception due to their location within the state. Due to this stipulation, BetMGM (in New Jersey) pays out the runner-up if a New Jersey team wins the East Region.
That’s right: if Saint Peter’s beats North Carolina to win the East Region Sunday, BetMGM New Jersey will pay out New Jersey bettors who picked North Carolina to win anyway.
If Saint Peter’s were to advance to the National Championship the same stipulation would apply for New Jersey futures bettors who picked their opponent.
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