NBA and MLB Insist On 1% Sports Betting Handling Tax Despite Criticism
Much has been said about the NBA demanding a hefty 1% betting handle tax from sports betting revenues. Many see this a money grab and another sign that they are only interested in revenues and not the integrity of the sport as they have claimed until now.
West Virginia held a committee hearing on Monday as the possibility of the US Supreme Court legalizing sports betting in New Jersey gets closer. Legislators are debating as to whether to introduce a bill that will legalize sports betting in the five stat casinos.
The NBA and MLB were represented by attorney Scott Ward at the hearings and could well derail the legislation as their “ integrity fee” of 1% is seen by many as way too high. Ward for his part was quick to point out that the NBA and MLB would use their 1% cut of all wagers to protect the integrity of the sport by ensuring enforcing bans on players making bets and by monitoring suspicious betting patterns.
Chief Counsel for Lottery Commission Danielle Boyd was skeptical as to the claims by Ward and said ,” It was hard for us to quite wrap our heads around how the costs of monitoring integrity would increase in a regulated market.”