College basketball bettors in certain jurisdictions are having a hard time betting on a new postseason tournament.
Several individuals on the social media site X confirmed lines for the College Basketball Crown aren’t available in some states. These jurisdictions initially allowed bets for the 16-team tournament that began on Mar. 31, but bettors had their wagers voided and funds returned.
DraftKings' Operations Director Johnny Avello told the hosts of the VSiN show “PrimeTime” the online sportsbook had to take the games down in certain states because regulators hadn't approved the event.
Avello said DraftKings won’t offer College Basketball Crown wagering in New Jersey, Illinois, and Ohio, and the operator is awaiting approval in other states before releasing lines.
The tournament, which runs until Apr. 6’s championship game, can be found at Circa Sports in Nevada, Iowa, Colorado, and Kentucky, according to VSiN, but the operator’s Crown markets have been removed in Illinois.
Covers also confirmed North Carolina is not offering Crown odds.
What’s the issue?
This is the first year for the Crown, which is not an NCAA-sanctioned event. It likely doesn’t fall under the approved sports catalog in some U.S. states.
The tournament is also an NIL event. The winning team receives a $500,000 NIL package while the second-place squad gets $300,000. This could be an issue with some regulators, as typical college basketball events like the NCAA tournament don’t pay participants directly.
Who’s in it?
The Crown, designed for teams that didn’t make the NCAA tournament, is being held at the T-Mobile Arena and the MGM Grand Garden Arena in Las Vegas, with MGM International one of the sponsors, and FOX broadcasting. Circa, which operates a popular sportsbook in downtown Las Vegas, is also a sponsor.
Teams from the American Athletic Conference, Atlantic-10, Big Ten, Big East, and Mountain West are represented, including Butler, Depaul, Colorado, USC, Nebraska, Arizona State, Boise State, Georgetown, George Washington, Oregon State, Washington State, Villanova, Tulane, Utah, Cincinnati, and UCF.
