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