NBA Announces MGM Resorts As Official Gambling Partner
The National Basketball Association on Tuesday announced that it is partnering with MGM Resorts International to provide official sports gambling service to users. This is the first sports gambling partnership by any major league in the US. Before this, leagues denied any official association with betting rings. Earlier this year, the Supreme Court dismissed a federal law that made sports betting illegal in most states. Since then, sporting entities have opened up to let betting become a legal business in their respective league.
As an official gambling partner of the NBA, MGM Resorts International will use official data of NBA players and team on its betting platform. It will work closely with the league to detect game-fixing and to prevent frauds in the system. MGM will also get rights to use NBA and WNBA team logos and other marks. It will also create and coordinate a marketing plan with the league to further popularize the games.
Adam Silver, the NBA commissioner, has been a longtime supporter of sports gambling and even went on to say that sports betting will eventually be legalized across the US. He first talked about its legalization in 2014 and moved swiftly after the Supreme Court decision to find its first official gambling partner and start profiting from it.
Silver said recently that NBA’s collaboration with MGM will be the best entertainment and gaming experience for consumers. He also noted that NBA and WNBA official data will add accuracy to their bets. The partnership will help in maintaining the integrity of the games through collective efforts.
Jim Murren, chief executive at MGM, said that getting official NBA data and displaying NBA assets like logos and marks will provide them with a distinct advantage. It could be helpful in instilling confidence amongst the gamblers as well.
None of the executives revealed the monetary value of the partnership.
As of now, MGM will be an exclusive gambling partner of the league for marketing purposes only. The league can make similar agreements with other sports betting operators in the country and beyond. It is highly likely that the NBA will make agreements with every operator possible to avoid manipulation in games and work only on official league data.
The partnerships will be profitable for the league as it seeks royalty from each bet placed during the games. It will also have the right to limit certain types of bets. It is lobbying with other sports leagues to help create more accommodating state laws. A federal law, despite Supreme Court ruling, isn’t going to pass soon. Up until now, Delaware, New Jersey, and Mississippi have legalized sports betting apart from Nevada. However, none of the states allows provisions that NBA seeks.