Hey all you sports betters, the NBA is on your side.
The NBA has been the strongest supporter of sports betting out of all the major U.S.-based professional sports leagues, specifically when it comes to getting rid of the law that makes sports betting on individual match-ups illegal in all states (except Nevada).
But the NBA's support of changing the law will cost you. The league wants commission.
The NBA wants one percent of the amount you wager on its games as an "integrity fee," according to Forbes. The fee would come out of the money you make from sports betting operators that were involved in the transaction.
"NBA spokesman Mike Bass justifies the fee by referencing the risk the league is and will be taking as it supports a change in the current law that limits full-fledged sports betting to taking place within Nevada's borders," Forbes wrote.
But the American Gaming Association (AGA) disagrees with this fee. As the trade group representing the $240 billion U.S. casino industry, AGA does not believe the integrity fee is necessary or justified. According to Forbes, the AGA says this fee is just taking money away American taxpayers.
“We are pleased that the National Basketball Association (NBA) today joined with the gaming industry in support of vigorously regulated sports wagering, " AGA President and CEO Geoff Freeman said."We can all agree that the 25-year ban on sports wagering has been a failure in every regard. 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 the AGA, a legal Nevada sports book realizes 3.5 to five percent in revenue. The one percent proposal from the NBA on money wagered legally would amount to 20-29 percent of total revenue, the trade group said.
