The NBAhas undoubtedly been the strongest proponent of all major U.S.-based professional sports leagues for the abolition of a law that prohibits states (other than Nevada) from offering sports betting on individual match-ups. Yet, the support for a change in the law comes with one caveat. The NBA wants a piece of the action.
The league characterizes its commission request as an "integrity fee." It seeks 1% of the amount wagered on any events concerning NBA games and says that the fee should be coming out of the revenue received from sports betting operators that would be involved in the transaction.
The NBAhas undoubtedly been the strongest proponent of all major U.S.-based professional sports leagues for the abolition of a law that prohibits states (other than Nevada) from offering sports betting on individual match-ups. Yet, the support for a change in the law comes with one caveat. The NBA wants a piece of the action.
The league characterizes its commission request as an "integrity fee." It seeks 1% of the amount wagered on any events concerning NBA games and says that the fee should be coming out of the revenue received from sports betting operators that would be involved in the transaction.
The NBA receives 0% of the millions of $ bet in the state of Nevada now.If the Supreme Court allows NewJersey to begin sports betting this June, Jersey and any other state that is posed to begin Nevada style betting would be able to set up shop without Silver's blessing or his promise of integrity(questionable at best,and Vegas has been very good at spotting irregular betting patterns/scams) Silver wants to charge sportsbooks 1% to insure that the final score printed in the newspaper is accurate.A bold play but bottom line,who is going to pay the 1%?(you know)
If sports betting comes to NewYork, like Silver has aimed originally and NY OTB gets crazy like Canada has with odds/vig,I got a local that gives me 110/100 and lets me play on credit.
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The NBA receives 0% of the millions of $ bet in the state of Nevada now.If the Supreme Court allows NewJersey to begin sports betting this June, Jersey and any other state that is posed to begin Nevada style betting would be able to set up shop without Silver's blessing or his promise of integrity(questionable at best,and Vegas has been very good at spotting irregular betting patterns/scams) Silver wants to charge sportsbooks 1% to insure that the final score printed in the newspaper is accurate.A bold play but bottom line,who is going to pay the 1%?(you know)
If sports betting comes to NewYork, like Silver has aimed originally and NY OTB gets crazy like Canada has with odds/vig,I got a local that gives me 110/100 and lets me play on credit.
1% doesn't sound like a lot but it is, because it 1% of the amount wagered (not profited by the casino/book). Even with their -110 books only win a few percent after overhead, so that is like a third of their profits.
Agree with you 100%, Les. I am very close to Canada and I occasionally will play some Casino Sports and the vig is something like -135 or -140 per bet, which makes it just recreational wagering...
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1% doesn't sound like a lot but it is, because it 1% of the amount wagered (not profited by the casino/book). Even with their -110 books only win a few percent after overhead, so that is like a third of their profits.
Agree with you 100%, Les. I am very close to Canada and I occasionally will play some Casino Sports and the vig is something like -135 or -140 per bet, which makes it just recreational wagering...
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