NBA Layout Their Conditions For Supporting Legal Sports Betting Framework
The hypocrisy of the largest sports bodies in the U.S. like the NBA is staggering. As we have reported in the last few years the NBA Commissioner Adam Silver has being doing verbal acrobatics that would not embarrass any seasoned politician. While at first stating their concern that legalized sports betting would corrupt the integrity of the games, he has since seen the light and said on various occasion that he believes that legalization is inevitable and it’s best to go with the flow.
The latest update to their policy is even more eye opening as League Attorney Dan Spillane told New York Legislators that the NBA would have no problem with sports betting legalization as long as the NBA gets their cut.
According to their proposed legal framework for sports betting, gambling operators would have to pay a 1% “tax” on the total amount of money bet on games which would generate huge amounts of money for the NBA, NFL and other major sports leagues. Not to give the impression that the NBA were only concerned about getting a cut of the huge pie, Spillane also laid out other stipulations which they would require if they are to support a legal framework for sports betting in the U.S. These include protection against problem gambling, age restrictions and a framework that would allow leagues to restrict wagering on any of their events.
Spillane told the New York state’s Senate Committee for racing, gaming and wagering that they have ,” studied these issues at length. Our conclusion is that the time has come for a different approach that gives sports fans a safe and legal way to wager on sporting events while protecting the integrity of the underlying competition.”
All eyes are on the Supreme Court who are mulling New Jersey’s challenge to the federal ban on sports betting enacted under the Professional and Amateur Sports Protection Act of 1992.