Endorsed by Gambling911

NBA Outlines Sports Betting Plan: Wants 1 Percent Cut of Wagers

Written by:

C Costigan

Published on:

Jan/24/2018

The National Basketball Association on Wednesday announced its plans to fully embrace sports betting. They will want a cut of the action however!

The NBA has formally requested a set of laws pertaining to wagering on the sport.

ESPN.com was the first to break the story:

Dan Spillane, an attorney for the NBA, testified in front of a New York State Senate committee and for the first time made it clear what the league's price would be to become a partner in legalizing the multibillion-dollar industry.

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.

Spillane also said the NBA wants more widespread access to gambling for its fans, pushing for bets to be made legal on smartphones and kiosks and not just inside casinos and racetracks. That would increase the amount of wagering and, in turn, create more revenue for the league under its desired plan.

- Tyrone Black, Gambling911.com

Video News News

Exclusive: Brendan Haywood Picks UNC to Go All the Way

Insists he's not being biased in this BetOnline exclusive interview.

CFP Championship Game Betting Preview 2024

America loves an underdog story, but the majority of the United States is rooting against the “dogs” (Washington Huskies) in Monday’s CFP National Championship game. Michigan has been hovering between a -4 and -4.5 favorite.

ACR Poker Nearly Back to Normal Following Holiday Weekend Software Meltdown (Update)

In a heartfelt holiday message, ACR Poker CEO Phil Nagy claimed not to have slept for three days or to have wished his mother a Merry Christmas.

Senator Mullin vs. O'Brien Fight Odds Now Up

It's not often we get to cross the intersection of sports and politics, but on Tuesday that's exactly what happened when a congressional hearing devolved into an angry confrontation between these two men.

iGaming and Blockchain With Becky Liggero and LilBit

Long time friend of the Gambling911.com website Becky Liggero sat down with the frontline voice of BSV Blockchain, Handcash, Champions TCG and newcomers LilBit to discuss, among other things, the world of iGaming and how blockchain and micropayments can impact the space.