NBA , multiple states in favor of possible overturn on sports betting ban

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"Without our games and fans, there could be no sports betting", Spillane said in his testimony at a legislative panel studying the prospect of legalized sports gambling in NY.

The NBA is acknowledging an elephant that has been in the room for a very long time, and one that many sports leagues try to ignore: Gambling and sports go together.

The American Gaming Association praised the NBA's advocacy - but scoffed at the idea that the league get a cut of bets. But such a proposal - which also has been floated in the in state legislature as it considers its own sports gambling framework - was greeted with skepticism that bordered on hostility Wednesday in NY.

Sports betting is already valued by experts as a $100 billion-$200 billion business, when legal and illegal bets are included, which suggests a massive revenue opportunity for the National Basketball Association and other leagues.

Representatives of New York's racing industry on Wednesday urged a state Senate committee to keep the sport in mind if the state legalizes wagering on other sports in the near future, a distinct possibility now that the U.S. Supreme Court is mulling a case concerning the practice.

"Without our games and fans, there could be no sports betting", he said.

Lawmakers in several states are examining the issue following New Jersey's legal challenge to the 1992 federal law banning sports betting in all but four states: Delaware, Montana, Nevada and Oregon.

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Moreover, the KGI analyst also said that iPhone users in China have opted to keep their phones because of some notable reasons. It's just doing exactly what Tim Cook said it was meant to do : Lay the groundwork for the iPhone for the next 10 years.

"Sports leagues provide the foundation for sports betting while bearing the risks it imposes, even when regulated", says Bass.

The state of New Jersey also has a case before the United States Supreme Court that could see sports betting legalized at its casinos and racetracks.

"We can all agree that the 25-year ban on sports wagering has been a failure in every regard", AGA President Geoff Freeman said.

The Supreme Court's decision could pave the way for individual states to legalize sports betting. My thought is on how this could help taxpayers in the state and back to getting away from the "head-in-the-sand" syndrome, not only should we acknowledge and embrace sports betting, we should capitalize on it. It added that the integrity fee would make regulated sports betting less attractive to consumers because odds from legal bookmakers would be "distorted".

"Now, let's be clear: [An "integrity fee" is] just a euphemism for a 'cut of the action, ' " Joe Asher, CEO of William Hill US, told the committee (via sports-gambling attorney Daniel Wallach, who was there as an observer).

What do you think of online sports betting?

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