NBA wants 1% of every single bet placed on the sport.
The NBA has reportedly requested a set of laws today that could pave the way for national legalized wagering on sports.
According to a report by ESPN's Brian Windhorst, an attorney for the NBA, Dan Spillane, testified in front of a New York State Senate committee today and made it clear what the league's price would be to become a partner in legalizing the sports gambling industry.
Included in the NBA's set of laws were two major takeaways including. First, the league is requesting 1% of every bet that is made on NBA games, in addition to other regulations. Additionally, the NBA wants more widespread gambling for it's fans. For instance, Spillane pushed for bets to be made legal on smartphones and kiosks, instead of just inside casinos or racetracks.
Obviously, the more places people can conveniently place bets means more people wagering on NBA games, which leads to more revenue under the proposed plan.
“We have studied these issues at length,” Spillane said in his statement to lawmakers, via ESPN. “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.”
"States like New York and others have reacted by moving forward to discuss and advance new laws that could immediately thereafter permit legal sports betting," Spillane said. "We cannot sit on the sidelines while this activity is occurring."
Currently, only four states where gambling on sports is legal: Nevada, Delaware, Oregon, and Montana. As Spillane noted, states like New York already have legislation in place in the event that the New Jersey-based case, which has reached the Supreme Court, overturns the ban on widespread sports gambling in the near future.