In 2016, Nevada had $4.5 billion in sports wagers. That number could exceed $5 billion once the 2017 numbers are tabulated.
The NBA is looking to get a slice of that pie, formally requested a set of laws pushing for national legalized wagering on games. The league 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.
The NBA has formally requested a set of laws that could to lead to the legalization of sports gambling, reports @WindhorstESPN. https://t.co/VNDmpM1xR2
Dan Spillane, an attorney for the NBA, testified in front of a New York State Senate committee, stating, “We 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 competitions.”
If sports gambling were legalized across the board, and the NBA was able to open up a new revenue stream based on the 1 percent of money that would come from that, huge changes could be coming down the pike, including another salary cap that would benefit the teams and individual players.
Stay tuned as more develops.