https://www.google.com/amp/s/www.cb...-sports-gambling-in-united-states/amp/?espv=1
The NBA is acknowledging an elephant that has been in the room for a very long time, and one that many sports leagues try to ignore: Gambling and sports go together. There is currently a case in New Jersey related to the legality of sports gambling, which could change how it's handled nationwide. via ESPN.
The NBA fought against this in the past, but after researching it further, the league appears ready to flip its stance. According to ESPN, the NBA is going to request a set of laws that would help legalize sports gambling in the future, but also allow the NBA to make their own profit. Considering the billions of dollars that go into Vegas every year this could lead to a massive increase in money for the NBA.
In what could end up being a seminal moment for sports gambling in America, the NBA on Wednesday formally requested a set of laws that could be the basis for professional sports leagues pushing for national legalized wagering on games.
Dan Spillane, an attorney for the NBA, testified in front of a New York State Senate committee and for the first time made it clear what the league's price would be to become a partner in legalizing the multibillion-dollar industry.
The NBA wants 1 percent of every bet made on its games in addition to other regulations, a request that could create massive revenue for the NBA and other sports leagues in the future.
Spillane wants to limit action on certain types of bets that could be more easily manipulated. He used the example of prop bets Wednesday, such as placing a wager on who may draw the game's first foul.
The league also wants to protect consumers, including age restrictions and a "rigorous licensing program" for operators.*
If sports gambling were legalized, and the NBA was able to make the 1 percent revenue that comes in from that, it could lead to massive changes in how the game is covered. The revenue increase alone would likely lead to another cap and salary jump for teams and players. It will be interesting to see how this all plays out.
The NBA is acknowledging an elephant that has been in the room for a very long time, and one that many sports leagues try to ignore: Gambling and sports go together. There is currently a case in New Jersey related to the legality of sports gambling, which could change how it's handled nationwide. via ESPN.
The NBA fought against this in the past, but after researching it further, the league appears ready to flip its stance. According to ESPN, the NBA is going to request a set of laws that would help legalize sports gambling in the future, but also allow the NBA to make their own profit. Considering the billions of dollars that go into Vegas every year this could lead to a massive increase in money for the NBA.
In what could end up being a seminal moment for sports gambling in America, the NBA on Wednesday formally requested a set of laws that could be the basis for professional sports leagues pushing for national legalized wagering on games.
Dan Spillane, an attorney for the NBA, testified in front of a New York State Senate committee and for the first time made it clear what the league's price would be to become a partner in legalizing the multibillion-dollar industry.
The NBA wants 1 percent of every bet made on its games in addition to other regulations, a request that could create massive revenue for the NBA and other sports leagues in the future.
Spillane wants to limit action on certain types of bets that could be more easily manipulated. He used the example of prop bets Wednesday, such as placing a wager on who may draw the game's first foul.
The league also wants to protect consumers, including age restrictions and a "rigorous licensing program" for operators.*
If sports gambling were legalized, and the NBA was able to make the 1 percent revenue that comes in from that, it could lead to massive changes in how the game is covered. The revenue increase alone would likely lead to another cap and salary jump for teams and players. It will be interesting to see how this all plays out.