tern, NBA commissioner for 30 years, had opposed most gambling on sports, but now says daily fantasy wagering has paved the way for legal sports betting throughout the United States and that the NBA should go “all in.”
“It seems to be an inexorable march, and it’s time to come up with a strategy that gets the various stakeholders together and see what changes, if any, make sense,” Stern said.
When daily fantasy “became a place where people could bet money and make a financial return, I thought that was one of the last barriers to the opposition to legalized gambling on sports.”
The now retired Stern appears Sept. 29, at the Global Gaming Expo in conversation with American Gaming Association CEO Geoff Freeman to discuss how sports betting should be managed in the United States
The AGA promotes the legalization and expansion of sports wagering.
The former commissioner advocates “one set of federal regulations” that applies to all 50 states. “This is a subject that is crying out for federal review of the entire situation,” he said.
Stern is also advancing the concept that the NBA and other leagues should be compensated for its “intellectual property” for providing the “statistical story,” as well as any logos, trademarks or team names used by sports books or other gaming entities.
The Global Gaming Expo is scheduled for Tuesday through Thursday, Sept. 27-29, at the Sands Expo in Las Vegas.
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