- The NBA is placing itself front and center in the debate on sports betting.
- In testimony in front of the New York State Senate committee, an attorney for the league says the NBA wants more widespread access to gambling for its fans under a legalized framework that includes smartphones and betting kiosks outside of casinos and racetracks.
- The NBA also wants to rake off 1% of every bet made on games involving its teams.
- Though the NFL and Major League Baseball have been mostly quiet on the issue, analysts expect the sports leagues to follow the NBA's lead of looking for a slice of the action instead of fighting legalized sports betting.
- The U.S. Supreme Court is expected to decide this spring on a New Jersey case that could overturn a federal ban on large-scale sports betting. The number of companies that could be impacted by the SCOTUS decision is widespread (OTCPK:EIHDF, OTC:BTFRF, OTC:PYGMF, OTCPK:PDYPY, OTCPK:WIMHF, OTCPK:WIMHY, RRR, CZR, MGM, BYD, OTCPK:LDBKF, OTCPK:LDCOY, OTCPK:RANKF, DDAY, GDEN, NYNY, CHDN, FLL, PENN, SGMS, CNTY, OTCQB:TPCA, LVS, ERI, WYNN) and might even include some tech players (FB, ZNGA) depending upon the ruling and how federal law is impacted.
- Related ETF: BJK.
- Now read: If State Lotteries Get The Nod For Sports Betting After A Favorable Supreme Court Ruling, Scientific Games Could Be A Strong Contender
Original article