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US Sports League debate over monetizing sports wagering


US Sports League debate over monetizing sports wagering

Reports suggest that America's major professional sports leagues are debating over the way they can earn revenues from sports betting. They are still speculating the ways how they can get a piece of action from legalized sports betting after already failing to convince states to give them a share of the revenues.

The Major League Baseball, National Football League, National Hockey League and the National Basketball Association fought against the legalized sports betting but US Supreme Court quashed their rhetorics and decided to allow sports betting in the United States of America. After the Supreme Court granted permission to the states, the leagues and the congress indulged in a high intensity discussion.

Some are busy in lobbying individual states for including a 0.25 percent cut of all sports bets placed in their states while others concentrated on making free-market deals with individual gambling companies. In May, the US Supreme Court ruled that states are free to legalize sports wagering and eight states accept betting and many others are expected to follow the footsteps and consider legalizing sports betting. The NBA, golf's PGA Tour started to lobby individuals for making direct payments to them demanding an 'integrity fee' that the leagues called royalty. The leagues argued that they deserved the reimbursement for costs for making sure that their games were free from scandals and manipulation of any sort. They also felt that outside companies should share their profits with the leagues that are organizing sports.