The 216 wagers were placed on a game between Rutgers and Eastern Michigan University, totalling more than $2,700.
A further bet was placed on a game between Monmouth University and the University of Pennsylvania, although the value of this was not disclosed.
State law prohibits wagers on college teams from New Jersey, even if the game is played outside of the state.
New Jersey lawmakers are currently in the process of considering a bill which would set fines starting at $20,000 and potentially reaching up to $100,000 for any company accepting bets on New Jersey college teams.
The bill was introduced by Assemblyman Ralph Caputo, who was frustrated with two fines previously issued to Golden Nugget and Caesars Entertainment for taking such bets.
Caesars was fined $2,000, while Golden Nugget had to forfeit the $390 in bets it took from numerous college games involving New Jersey teams.
