Legalized Betting in the NBA?
Recently saw a story on Yahoo Sports (link below) that talks about the NBA looking into the possibility of legalized sports betting. This is a story to follow quite closely as it moves its way through the court system. The recent estimates done by Eilers & Krejcik Gaming is that sports betting legalization would be roughly a $6 billion dollar industry.
Would sports leagues like the NBA, MLB, NFL love to get in on that action to draw in more revenues? You bet.
https://sports.yahoo.com/nba-seeks-1-percent-cut-wagers-sports-gambling-legalized-182530499.html
More bad/corrupt officiating soon to follow.
If the league wants 1%, you know Vegas isn't going to going to take it out of their profits so will a standard bet be placed at -115 instead of -110? Plus you'll get taxed on any winnings? People might as well stick to doing it now they are now!
I think the point of this is that gambling would be legalized in all forms, not just limited to vegas, which it is currently limited to by the Supreme Court. Meaning that you can more bet online/in other states which would probably affect pricing with competition. That being said, I would imagine the vig would go up if they have to pay it off to regulation.
And yeah, you'd get taxed, so off-book gambling I'm sure would stick around, although the $6 bil estimate is legal....who knows how big off shore and other forms are right now already.
Legalizing or Prohibit something is in many case only about politics and who can get which slice of the cake. Let's see how this plays out in the NBA.