Major league executives are taking meetings with bookies
By Josh Kosman May 14, 2018
mostly through a hoped-for 1 or 2 percent integrity fee attached to each wager — the revelation that individual teams may now be interested in partnerships means in-stadium advertising for bookmakers could be coming down the road.
The US Supreme Court is expected to rule as soon as Monday on New Jersey’s attempt to overturn a federal prohibition against sports gambling outside Nevada and a few other grandfathered in states.
The high court could rule that the federal prohibition — the Professional and Amateur Sports Protection Act, or Paspa — is unconstitutional or rule that the move by New Jersey to allow sports gambling by casinos and racetracks doesn’t violate Paspa.
Either ruling could start legal sports gambling in New Jersey within two weeks of the ruling.
Major League Baseball is expected to come up soon with a policy about team sponsorships with bookmakers, a source close to the league said, should the ruling allow such bets.
“My sense is baseball has no hard line” against associating with sports betting firms, the source said.
While many European sports teams carry the logo of sports books on their jerseys, such a move in the US is not expected.
MLB and the NBA are now pushing for integrity fees from every sports bet placed — but that idea has run into lots of opposition.
The bookmakers want to spend money with sports teams and are open to other ideas where they feel there is mutual benefit, sources said.
It remains to be seen what effect a ruling allowing sports gambling will have on the values of sports franchises.
Casino chain MGM Resorts said last week when meeting analysts that it believes 10 to 12 states could legalize sports betting fairly quickly after a favorable ruling.
By Josh Kosman May 14, 2018
mostly through a hoped-for 1 or 2 percent integrity fee attached to each wager — the revelation that individual teams may now be interested in partnerships means in-stadium advertising for bookmakers could be coming down the road.
The US Supreme Court is expected to rule as soon as Monday on New Jersey’s attempt to overturn a federal prohibition against sports gambling outside Nevada and a few other grandfathered in states.
The high court could rule that the federal prohibition — the Professional and Amateur Sports Protection Act, or Paspa — is unconstitutional or rule that the move by New Jersey to allow sports gambling by casinos and racetracks doesn’t violate Paspa.
Either ruling could start legal sports gambling in New Jersey within two weeks of the ruling.
Major League Baseball is expected to come up soon with a policy about team sponsorships with bookmakers, a source close to the league said, should the ruling allow such bets.
“My sense is baseball has no hard line” against associating with sports betting firms, the source said.
While many European sports teams carry the logo of sports books on their jerseys, such a move in the US is not expected.
MLB and the NBA are now pushing for integrity fees from every sports bet placed — but that idea has run into lots of opposition.
The bookmakers want to spend money with sports teams and are open to other ideas where they feel there is mutual benefit, sources said.
It remains to be seen what effect a ruling allowing sports gambling will have on the values of sports franchises.
Casino chain MGM Resorts said last week when meeting analysts that it believes 10 to 12 states could legalize sports betting fairly quickly after a favorable ruling.
