Authorities arrested Dailey and another 19-year-old male Sunday in Manatee County, Fla. Dailey was charged with felony armed robbery, according to sheriff's records.
Dailey allegedly brandished a handgun and demanded money from a man on a bicycle around 2 a.m. Sunday in Sarasota, Fla., according to the Sarasota Herald-Tribune. After the victim handed over $20, police said, Dailey and his associate fled the scene in a car registered to Dailey's mother.
Dailey's bond was reportedly set at $150,000.
Dailey is the third Rutgers player to be arrested in the last year.
Wide receiver Ruhann Peele was suspended from the team last season following an August arrest for simple assault. He was reinstated to the team in January when charge against him was dismissed.
Dailey redshirted during the 2014 season. He was listed as a starting cornerback on the team's depth chart, according to NJ.com.
Rutgers opens the 2015 football season on Sept. 5 against Norfolk State.