Sports

NBA Wants In On Basketball Wagers

(Photo by Andy Lyons/Getty Images)

Sebastian Obando Contributor
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The NBA proposed a plan Wednesday to receive 1 percent of every wager on its games, according to the New York Daily News.

In addition to the 1 percent “integrity fee,” the NBA wants legal sports betting to be readily available on smartphone apps, instead of only inside casinos.

Dan Spillane, an NBA attorney, pitched the idea when he testified Wednesday before the New York State Senate Committee on Racing, Gaming and Wagering. Spillane said the proposed model follows how sports betting is legally regulated in other countries, such as France and Australia, and that the 1 percent integrity fee would compensate the league for the risk created by betting and the commercial value the NBA would create for betting operators.

Still, American Gaming Association CEO Geoff Freeman disagrees with the NBA’s request for 1 percent.

“We are pleased that the National Basketball Association today joined with the gaming industry in support of vigorously regulated sports wagering,” Freeman told the Daily News. “Now, let’s get real about eliminating the illegal market, protecting consumers and determining the role of government – a role that most certainly does not include transferring money from bettors to multi-billion dollar sports leagues.”

According to Freeman, a 1 percent integrity fee on betting operators amounts to the same as a 20-29 percent on its total revenue, which could possibly affect bookies’ ability to offer fair odds.

Currently, sports wagering is only legal in Nevada, Delaware, Oregon and Montana. According to estimates, U.S. gamblers reap in as much as $200 billion in illegal sports wagers each year.