With sports betting in New Jersey and several other states “imminent”, the NBA has done a preemptive and announced its support … as long as the NBA gets 1% of every bet made. The NBA attorney introduced a plan Wednesday where the league would get a cut of legalized sports betting being proposed for New York.
“Experts” estimate that $200 billion is wagered illegally in the U.S. each year. It’s thought that as many as 18 states will introduce bills to regulate sports betting this year. Even taking just 1% of every bet made, you can imagine what a revenue source it would be for the league. Imagine what it would mean to the NFL??? Most leagues have been vehemently opposed to nation-wide sports betting. With sports betting likely right around the corner in several states, look for most of professional sports position to evolve much like the NBA.
To read about the various components of the NBA’s proposed plan including “consumer protection” and “detection of shady betting activity plus the interesting response of the American Gaming Association, click the link to read the article in its entirety courtesy of the NY Daily News.
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