Cuban: Owners will reap the benefits of decision

Sports franchise owners hit the jackpot when the U.S. Supreme Court lifted a federal ban on sports betting Monday, according to Mavericks boss Mark Cuban.

“I think everybody who owns top-four professional sports team just basically saw the value of their team double at least,” Cuban told CNBC, referring to team owners in the NBA, NHL, MLB and NFL.

The Mavs are worth an estimated $1.9 billion, according to Forbes.

The leagues sued New Jersey after the state enacted a law allowing sports betting in 2012, arguing gambling would undermine the integrity of the sports. That case made its way to the Supreme Court, which overturned the 1992 Professional and Amateur Sports Protection Act the leagues cited in their case.

Leagues warmed a bit to sports betting after states began to mull laws that would cut them in on the windfall by ordering bookies to pay the leagues so-called integrity fees.

The leagues resisted Monday, with the NFL declaring it would lobby Congress to intercede and “enact a core regulatory framework for legalized sports betting.”

“We will also work closely with our clubs to ensure that any state efforts that move forward ... protect our fans and the integrity of our game,” the statement continued. The MLB and NBA were lukewarm. “We remain in favor of a federal framework that would provide a uniform approach to sports gambling in states that choose to permit it, but we will remain active in ongoing discussions with state legislatures,” said NBA commissioner Adam Silver.

“Regardless of the particulars of any future sports betting law, the integrity of our game remains our highest priority.”

“As each state considers whether to allow sports betting, we will continue to seek the proper protections for our sport, in partnership with other professional sports,” MLB said in a statement.

“Our most important priority is protecting the integrity of our game.”

Meanwhile, fantasy sports league DraftKings said it’s ready to break into the new market.

“Our mission has always been to bring fans closer to the sports they love and now, thanks to the wisdom of the Supreme Court, DraftKings will be able to harness our proven technology to provide our customers with innovative online sports betting products,” said CEO Jason Robins.