{"id":267143,"date":"2023-04-02T02:33:49","date_gmt":"2023-04-02T07:33:49","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=267143"},"modified":"2023-04-04T15:14:28","modified_gmt":"2023-04-04T20:14:28","slug":"new-nba-cba-could-allow-players-to-invest-in-betting-firms","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/new-nba-cba-could-allow-players-to-invest-in-betting-firms\/","title":{"rendered":"New NBA CBA Reportedly Allows Players to Invest in Sportsbook, Weed Companies"},"content":{"rendered":"

The NBA\u2019s new collective bargaining agreement (CBA) reportedly paves the way for players to invest in and promote sports wagering companies and firms with ties to cannabis production.<\/p>\n

\"NBA
NBA Commissioner Adam Silver, seen during an interview, above. The league’s new CBA could allow players to invest in sports betting firms. (Image: NBA.com)<\/figcaption><\/figure>\n

Shams Sharina, The Athletic\u2019s<\/em> NBA insider and a partner at FanDuel, broke the news Saturday. The National Basketball Players Association (NBPA) acknowledged it, and the league reached a \u201ctentative\u201d deal on a new CBA framework but did not elaborate on details.<\/p>\n

Specific details will be made available once a term sheet is finalized,\u201d<\/strong> according to a statement.<\/p><\/blockquote>\n

The players and owners must still ratify the new CBA pact.<\/p>\n

Interesting Timing for Further Betting Embrace<\/h2>\n

The move to allow players to invest in or promote such entities arrives as players are dealing with increasingly confrontational fans, vocalizing their disdain over players\u2019 performances — in the bettors\u2019 eyes — leading to lost wagers. That’s while the league and its teams have marketing deals with various sportsbook operators and gaming companies.<\/p>\n

Last month, Washington Wizards shooting guard Bradley Beal was on the receiving end of some harsh words from a disgruntled fan<\/a> at a game in Orlando. Beal gestured toward the fan, and a police report was later filed. Florida doesn\u2019t permit mobile sports wagering.<\/p>\n

\n

Currently, 33 states and Washington, DC, permit some form of sports betting. Fifteen of the NBA\u2019s 32 franchises are in states and Washington, DC, allowing sports wagering. Nine are based in California, Texas, and Florida- none currently permit sports betting.<\/p>\n<\/div>\n

The league\u2019s soon-to-expire CBA went into effect on July 1, 2017 — before the 2018 Supreme Court ruling<\/a> on the Professional and Amateur Sports Protection Act (PASPA). Since the fall of PASPA, the NBA, like other leagues and its teams, has widely embraced marketing agreements with gaming companies. However, current players haven\u2019t directly participated in those benefits, though the current CBA didn\u2019t explicitly bar players from investing in gaming corporations.<\/p>\n

That 598-page document mentions \u201cgambling\u201d nine times, and Article 35 of the league\u2019s constitution contains provisions explicitly prohibiting players from wagering on NBA and G League contests.<\/strong><\/p>\n

Preparation Pays Off, Someone Could Be Irked<\/h2>\n

Speculation that the new CBA will allow players to invest in and promote betting entities arrives after an interesting ownership maneuver. Fanatics founder Michael Rubin announced the sales of his stakes<\/a> in the NBA\u2019s Philadelphia 76ers and the NHL\u2019s New Jersey Devils 10 months ago in anticipation of the company broadening its sports betting reach.<\/p>\n

Speculation surfaced on social media Saturday that Rubin may be among those irked by the aforementioned provision in the new CBA.<\/p>\n

On the other hand, some current players are already prepared for this day. For example, in 2020, Giannis Antetokounmpo of the Milwaukee Bucks — a two-time MVP — filed patents for a variety of trademarks<\/a> linked to his \u201cGreek Freak\u201d nickname. Some of those patents could pertain to online wagering entities.<\/p>\n

Kevin Durant of the Phoenix Suns, Trae Young of the Atlanta Hawks, and Dallas Mavericks owner Mark Cuban are investors in Underdog Fantasy. But that company isn\u2019t yet a sportsbook operator. Cuban and several other NBA governors were early investors in sports wagering companies, such as DraftKings (NASDAQ: DKGN) and Sportradar (NASDAQ: SRAD).<\/strong><\/p>\n

NBA players have been precluded from such opportunities. The new CBA could put players on a level of investment playing field with their bosses.<\/p>\n","protected":false},"excerpt":{"rendered":"

The NBA\u2019s new collective bargaining agreement (CBA) reportedly paves the way for players to invest in and promote sports wagering companies and firms with ties to cannabis production. Shams Sharina, The Athletic\u2019s NBA insider and a partner at FanDuel, broke the news Saturday. The National Basketball Players Association (NBPA) acknowledged it, and the league reached […]<\/p>\n","protected":false},"author":46,"featured_media":214897,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,83079,1074],"tags":[81903,81033,80968],"acf":[],"yoast_head":"\nNew NBA CBA Could Allow Players To Invest In Betting Firms<\/title>\n<meta name=\"description\" content=\"NBA's latest CBA could allow players to invest in, promote betting, cannabis companies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/new-nba-cba-could-allow-players-to-invest-in-betting-firms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New NBA CBA Could Allow Players To Invest In Betting Firms\" \/>\n<meta property=\"og:description\" content=\"NBA's latest CBA could allow players to invest in, promote betting, cannabis companies.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/new-nba-cba-could-allow-players-to-invest-in-betting-firms\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-02T07:33:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-04T20:14:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/silver.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1919\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/new-nba-cba-could-allow-players-to-invest-in-betting-firms\/\",\"url\":\"https:\/\/www.casino.org\/news\/new-nba-cba-could-allow-players-to-invest-in-betting-firms\/\",\"name\":\"New NBA CBA Could Allow Players To Invest In Betting Firms\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-nba-cba-could-allow-players-to-invest-in-betting-firms\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-nba-cba-could-allow-players-to-invest-in-betting-firms\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/silver.jpg\",\"datePublished\":\"2023-04-02T07:33:49+00:00\",\"dateModified\":\"2023-04-04T20:14:28+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"NBA's latest CBA could allow players to invest in, promote betting, cannabis companies.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-nba-cba-could-allow-players-to-invest-in-betting-firms\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/new-nba-cba-could-allow-players-to-invest-in-betting-firms\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/new-nba-cba-could-allow-players-to-invest-in-betting-firms\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/silver.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/silver.jpg\",\"width\":1919,\"height\":1080,\"caption\":\"NBA Commissioner Adam Silver. The leagues new CBA could allow players to invest in sports betting firms. 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