Author Topic: The NBA wants a 1% cut on all bets to legalize gambling (among other things)  (Read 1816 times)

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Offline Moranis

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If you're gonna tax winnings then you gotta give tax cuts on losings
that is how it works now, but the gambling losses can only offset gambling winnings.
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Offline Big333223

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Help me understand what's going on here. What does the NBA have to do with legalizing betting on games (but I don't really gamble so maybe I'm just missing the obvious)?

So I understand there's PASPA which limits sports betting to Nevada and a couple of other states.  So you can currently place bets in Nevada on any NBA game, right?  And the NBA doesn't get any cut from this, they have no involvement whatsoever in this, right?

So is the NBA just lobbying to make sports gambling legal nationwide, but lobbying under the condition that the new laws include a 1% "integrity fee" payable to the NBA to so they can properly monitor all the bets and make sure nothing shady is going on, even though we all know that 99.9% of that fee will just go into the leagues/owners pockets?

If betting becomes legal in other states, there's no real reason they'd have to give the NBA a cut, right?  Or is there some current or proposed law that says to create a sports book, you have to pay essentially a licensing fee?  Is the NBA (and other sports leagues) just using their power/influence to get their unnecessary cut written into law?

From the Windhorst piece:

Quote
The American Gaming Association issued a statement Wednesday that while it was pleased the NBA supported "vigorously regulated sports wagering," it also said that the role of government "most certainly does not include transferring money from bettors to multi-billion dollar sports leagues."

This led to the NBA releasing its own statement.

"Sports leagues provide the foundation for sports betting while bearing the risks it imposes, even when regulated," league spokesman Michael Bass said. "If sports betting is legalized federally or state by state, we will need to invest more in compliance and enforcement, and believe it is reasonable for operators to pay each league 1% of the total amount bet on its games to help compensate for the risk and expense created and the commercial value our product provides them. This is a similar approach to legally-regulated sports betting in other international jurisdictions."

So I guess, if you want to run a sports gambling operation that includes betting on NBA games, you should have to pay the NBA for the right to make money of their product, is what they say.

But I don't fully understand all of what's going on here.
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