Dominoes are falling into place, and key players are ditching clear conflicts of interest. On Thursday, MLB and the NBA announced the dropping of their respective equity stakes in FanDuel and DraftKings.
Showing their integrity
Both the NBA and MLB have lobbied for a cut of legalized sports betting action via integrity fees. They also have equity stakes in FanDuel and DraftKings, which at least have plans to potentially serve as betting platforms. MLB and the NBA getting a piece of all that action would, optics-wise, be as unacceptable as double-dipping your chip.
Both leagues do intend to keep their commercial partnerships alive, which again makes sense for all parties. Expect to see the NHL drop its position in DraftKings before all is said and done. As for FormulaOne and its recently minted equity position in PlayON, if a tree falls in the woods and nobody is there to hear it…
So sports betting is going to really happen in the U.S.?
All signs are pointing that way, yes.
Or at worst, all of the key players are positioning themselves for it to happen.
To get a true feel for the chances of U.S. sports betting legalization, look no further than, uh, a sportsbook. BetDSI has legalization as a favorite, offering the following prop:
Will the U.S. Supreme Court Reverse the Lower Court’s Decision in Christie v. NCAA, Which Would Allow States to Legalize Sports Betting?
- Yes (-145)
- No (+115)
On that note, PredictIt needs to get their collective shit together and offer some odds too. Seems up their alley. Dropping the ball, PredictIt.