How Sports Betting is Reshaping the NBA

There is an explosion in the online betting industry since the Supreme Court lifted the federal ban in 2018. More Americans are legally betting on sports than ever before. The trend has fundamentally changed the NBA and how we as viewers consume the product.

Adam Silver was an advocate of legal sports betting before it was allowed. The NBA is going to continue to promote it as it is a major revenue stream for the league and its teams. However, some people are concerned about the negative impact of gambling on the public. It is estimated that the NBA would increase revenue by almost $600 million per year if betting was legalized.

The NBA Draft is one of the highlights of a calendar year. This year, the odds shifted drastically regarding who the Orlando Magic would select with the No.1 overall pick. Paolo Banchero ended up going first overall. Caesars Sportsbook scooped Adrian Wojnarowski. It will be interesting to watch how this goes moving forward. It is possible that bookmakers will become de-facto news sources like they were for this year's Draft. The NBA is a very exciting sport.

Kevin Durant's joke about betting on NBA games was a joke, but it raises an interesting point. The NFL suspended Calvin Ridley for the entire upcoming season after he was found to have bet on his team while he had an injury. The legal structure of the industry operates within should stop any wrongdoing, however, in the age of social media, how connected we are to athletes makes it more of a slippery slope.

Gambling-related advertising is very common on NBA broadcasts. The Premier League has recently tried to ban shirt sponsorships featuring gambling companies. In the future, the use of gambling-linked advertising in sports broadcasting may be restricted. However, it's still in its early stages in the US. Sports betting is still a relatively new industry. It's possible that it will be reined in in a few years.