New York Post

If you can’t beat ’em …

…Teams eye sports book sponsorshi­p deals

- By JOSH KOSMAN

Everyone, it seems, wants to grab a piece of the expected sports gambling windfall.

A major league sports team executive met with the owner of a bookmaker last week to pitch sponsorshi­p opportunit­ies, The Post has learned.

While leagues have looked to grab a piece of the what could become a $10 billion-a-year sports gambling business in New Jersey — mostly through a hoped-for 1 or 2 percent integrity fee attached to each wager — the revelation that individual teams may now be interested in partnershi­ps means in-stadium advertisin­g for bookmakers could be coming down the road.

The US Supreme Court is expected to rule as soon as Monday on New Jersey’s attempt to overturn a federal prohibitio­n against sports gambling outside Nevada and a few other grandfathe­red in states.

The high court could rule that the federal prohibitio­n — the Profession­al and Amateur Sports Protection Act, or Paspa — is unconstitu­tional or rule that the move by New Jersey to allow sports gambling by casinos and racetracks doesn’t violate Paspa.

Either ruling could start legal sports gambling in New Jersey within two weeks of the ruling.

Major League Baseball is expected to come up soon with a policy about team sponsorshi­ps with bookmakers, a source close to the league said, should the ruling allow such bets.

“My sense is baseball has no hard line” against associatin­g with sports betting firms, the source said.

While many European sports teams carry the logo of sports books on their jerseys, such a move in the US is not expected.

MLB and the NBA are now pushing for integrity fees from every sports bet placed — but that idea has run into lots of opposition.

The bookmakers want to spend money with sports teams and are open to other ideas where they feel there is mutual benefit, sources said.

It remains to be seen what effect a ruling allowing sports gambling will have on the values of sports franchises.

Casino chain MGM Resorts said last week when meeting analysts that it believes 10 to 12 states could legalize sports betting fairly quickly after a favorable ruling.

 ??  ??

Newspapers in English

Newspapers from United States