Sports

NBA Wants A Cut Of Betting On It's Games

NBA Wants A Cut Of Betting On It's Games

"Without our games and fans, there could be no sports betting", Spillane said in his testimony at a legislative panel studying the prospect of legalized sports gambling in NY.

The NFL has maintained public opposition to sports betting, and previous year Commissioner Roger Goodell said the league is also against individual states regulating their own gambling industries, despite the Raiders franchise moving to gambling mecca Las Vegas. Because the league will be taking on "risks that sports betting imposes", he said, it should be compensated with 1 percent of the total amount wagered on its games.

While we wait for the Supreme Court's decision in the New Jersey sports betting case on the federal level, the pro sports leagues and the gambling industry have been positioning themselves on the state level.

"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", ESPN's Brian Windhorst reported. There's fantasy sports, daily fantasy and of course, all the betting that goes on legally in Las Vegas. And if sports betting becomes legal in NY and other states, sports leagues will need to invest more in compliance and enforcement, including bet monitoring, investigations, and education. The NBA, with Major League Baseball, recently backed a similar 1 percent "integrity fee" in Indiana.

If the National Basketball Association wants to block a certain type of bet - like a prop bet on which player commits the first foul in a game - it should be able to do so, he said.

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Legalizing sports wagering is being considered in dozens of state legislatures now that the Supreme Court has heard arguments in a case that challenged the constitutionality of a 1992 federal law, the Professional and Amateur Sports Protection Act, that prohibits sports betting in the vast majority of states.

"Every other league still has held the hard line that they have no interest in any expansion of legalized sports betting in the country", he says.

"Now, let's be clear: [An "integrity fee" is] just a euphemism for a 'cut of the action, ' " Joe Asher, CEO of William Hill US, told the committee (via sports-gambling attorney Daniel Wallach, who was there as an observer).

Spillane urged the state to pass a "comprehensive sports betting bill that would serve as a model for a 50-state solution".

It is estimated that hundreds of billions of dollars are illegally used on sports betting each year. "I think you are seeing that in the form that most seats at games are now paid by corporations, because individuals can no longer really afford them".