Ten years ago, NBA Commissioner Adam Silver wrote an opinion piece in The New York Times. He argued that sports betting should be legalized and regulated, marking a significant shift in the NBA's stance. At the time, betting on professional sports was illegal in most of the U.S., except for Nevada. Silver's words sparked a conversation that eventually led to a massive change in the sports landscape.
Fast forward to today, the NBA has over two dozen business ties with gaming companies. Sports betting is no longer just a topic of discussion; it's a phenomenon. In just four years after the U.S. Supreme Court allowed states to legalize sports betting, Americans wagered a staggering $125 billion on games.
Silver doesn't regret his stance. He believes that with the internet making sports betting widely accessible, legalization was the way to go. Otherwise, people would find illegal ways to bet. However, he acknowledges the downsides, like underage betting and responsible gambling concerns.
The NBA recently faced an incident involving Jontay Porter, a Toronto Raptors player. Porter was banned for disclosing team information to bettors and betting on games himself. An investigation found unusual betting patterns around a game he played. Porter admitted to sharing his health status with a bettor before the game. The bettor placed a $80,000 wager that Porter wouldn't meet certain statistical benchmarks, which could have won $1.1 million. Porter quickly pulled out of the game, claiming illness, and the bet was frozen.
Silver emphasizes the importance of regulation, comparing sports betting to other societal issues that shouldn't be criminalized but need strict rules to prevent misuse.
