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SportsTranscript
00:00And I have a feeling, Sam, you know, again, just a feeling that there are going to be a lot of new bettors over the six to eight months.
00:07They're going to be logging into their sportsbooks.
00:10They're going to be wanting to bet on certain things.
00:13Some will be very happy.
00:14Some will be surprised.
00:16And some will be disappointed that they can't.
00:18It just seems like every state has different rules for what you can and can't bet.
00:22And I guess that's a great way to start here, Sam, is to enlighten us who can do what in which state.
00:30Yeah, that's the beauty or the madness of state-by-state legality and restrictions,
00:35is everyone kind of has their own interpretation of what's right.
00:38They have their own ways of writing the law, which sometimes have unintended consequences.
00:43But if you're in one of these six states, Arkansas, Kansas, Kentucky, Michigan, Montana, and North Carolina,
00:50you will be happy because they have no restrictions on college betting whatsoever.
00:54That means you can bet player props.
00:56You can bet on in-state schools.
00:58There's 12 schools between those six states that will be in the tournament.
01:03So it's certainly a lot of fans will be betting on those teams.
01:07North Carolina, most recent state to legalize sports betting, they did it last year right ahead of March Madness.
01:13So bettors in that state will enjoy that again.
01:16And then moving on to the states where you can't bet on any of these teams that are in-state.
01:23So this is states like New York, Nebraska, New Jersey, Illinois, Connecticut, Virginia, Washington, Wisconsin.
01:30You can't bet on your school in that state.
01:32So if I'm in New York, I want to bet on St. John's.
01:34I won't be able to.
01:36I'd have to go to another state.
01:37Connecticut has kind of this weird exception where you can't bet on a UConn or a Yale to win a game,
01:43but you can bet on them to win the national championship.
01:46So again, it's because of that state-by-state legality, the wording of things.
01:50New Jersey is an interesting one.
01:52They don't have any teams in the tournament, but they are hosting the East Regional Round.
01:57So, for example, if VCU makes it to the final there, you won't be able to bet on them in Virginia or in New Jersey.
02:07So stuff you have to keep in mind if your school makes it that far.
02:10And then a couple of those states don't allow player props at all.
02:13New York, Virginia, Washington, Wisconsin, Arizona, Colorado, Florida, Louisiana, Ohio, Rhode Island.
02:20You can't bet on college player props, but you can bet on in-state teams in Arizona, Colorado, Florida, Louisiana, Ohio, and Rhode Island.
02:30So another kind of distinction there.
02:31No player props, but in-state teams.
02:34And then you have two states which are complete wildcards in New Mexico and Oregon.
02:39New Mexico technically has not legalized sports betting, but you can do it legally through the tribes,
02:44which means that every tribe has their own set of rules.
02:47Some tribes do allow betting on the team.
02:50Some allow player props. It all varies.
02:52And then Oregon is this really unique state where there's no college betting at all.
02:56It means you can't bet on the tournament at all in Oregon.
02:58It's the only state that has legalized sports betting where that's the case.
03:02So quite a mishmash of different states.
03:04We have an article up at LegalSportSupport if you want to try to visualize this better as you're filling out your bracket or hoping to bet on some teams in your state.
03:11But it's going to be a huge tournament.
03:13Huge tournament. $3 billion is expected to be wagered.
03:16But a lot of rules and a lot of sort of variations you got to go through here.