3 Ways In Which Sports Betting Is Going To Impact The Value of the NBA
Basketball has always been one of the favorite sports among US citizens. So, it comes as no surprise that one of the most prestigious basketball leagues on the planet comes from this country.
The popularity of the NBA around the world has been on the rise for decades. And even though NFL and MLB have always tried to be the audience’s favourites, the NBA still manages to thrive with an incredible game on the court and amazing players that are only getting better as years go by.
According to Forbes’ annual valuation, the average NBA franchise is currently worth 1,9 billion dollars. This means that its value has increased by 13% over the past two years. What is more, each NBA team is worth three times more than they did five years ago.
And even though these new numbers are staggering, we can only assume that the new ones will be just as much shocking. The main reason why is hidden behind the legalization of sports betting in the USA.
Sports betting has only been legalized in a couple of US states, but that will change in the future. It is expected that the value of the NBA will continue to grow as more and more states legalize betting on sports.
The Most Valuable Team
At the moment the most valuable team in the USA is the New York Knicks. Just one step behind them are the LA Lakers and the Golden State Warriors. According to some recent reports, James Dolan, the Knicks’ owner, has been offered as much as 5 billion dollars to sell the team. If the deal had gone through, then the NY Knicks would have earned the title of the second most valuable franchise in the USA.
However, can this change with the legalization of sports betting in other states? If all states in the US allowed sports betting, it’s only natural that more fans would like to support their local team by placing a bet on them. This could impact the value of certain teams in the long run, and change the NBA scene as we now know it.
Higher Salaries For The Players
After the Supreme Court decided to annul PASPA, it has been made clear that things will change for the sports betting industry in the future. Gambling fans will soon be able to enjoy the benefits of playing on the best payout casinos and betting with the top online sportsbooks. However, all of these perks are yet to be felt by all NBA players, since the process of legalization is long and tiresome. As soon as all states approve online sports betting (or at least most of them), the players of the NBA will see a great increase in salaries as there will be more revenue pouring into the league’s pockets. Betting companies will reach out to the teams through sponsorships, commercial deals, promotions and more. Even now we can see some teams like Washington Wizards and Philadelphia 76ers who are getting great deals from gambling companies. It’s expected that more teams will follow down the same path and that the revenue from these deals will skyrocket after all the states go through the legislative process.
Staying On Top Of The Game
Let’s face it, once the gambling industry gets on the scene, everything will become one big race at who gets the best deals. So far, Caesars Entertainment has already made a deal with both NBA and NHL, meaning that they’re willing to invest in both basketball and hockey.
So, if NBA wants to maintain the status of the most popular sport in the USA, they need to be the first ones to get to the best deals before they get stolen away by other leagues.
