Place your bets: The NBA just struck a deal with a casino

Place your bets: The NBA just struck a deal with a casino

Place your bets: The NBA just struck a deal with a casino

MGM also formed a partnership with Boyd Gaming on Monday that allows the companies to eventually offer online and mobile sports gambling in states where sports gambling becomes legal and either of the two have physical casinos.

The deal is a big development in the emerging USA legal sports betting market, as casinos, racetracks, technology and data companies, fantasy sports providers, sports book operators and others team up in the wake of a May court decision that allowed states to regulate the wagers.

In signing a deal to provide unspecified data to casinos, the league gets to profit from betting without getting hands terribly soiled with the actual messiness of it.

Jim Murren, CEO of MGM, sitting side by side with Silver, called the deal "historic".

In the past few days, MGM nearly simultaneously revealed partnerships with two major gaming companies. It has sponsored the last two years of the NBA Summer League, and it owns the WNBA's Las Vegas Aces, who play at MGM Resorts' Mandalay Bay Events Center.

The new partnership with GVC Holdings will offer access to USA land-based and "online sports betting, online real money and free-to-play casino gaming, major tournament and online poker, and other similar future interactive businesses", according to a press release.

Online sports betting is coming to New Jersey.

The most lucrative opportunities figure to come in three to five years when it is projected that more than 20 states will have legalized sports gambling. (Some $1.4 billion to $1.5 billion in wagers were placed on National Basketball Association games previous year in Nevada casinos alone.) That said, the MGM deal is not constructed around a per-wager payout system, so in this case the National Basketball Association will not be receiving a percentage on each bet made, or a "vig". The concept for integrity fees is that the increased wagering on sports creates a greater danger for players, coaches, referees, and other related personnel. The company also announced its intentions to acquire Empire City Casino in Yonkers, New York, back in May - further expanding its empire to some of the nation's biggest sports markets. Already in the United Kingdom, where sports wagering has been legal for decades, more money is bet during a soccer match than is bet on the match prior to kickoff.

In this February 13, 2018, file photo, James Murren, chairman and CEO of MGM Resorts International, speaks during an interview in Macau. The NBA and WNBA will now share official data with MGM Resorts International, a major win for the leagues as they prepare for the anticipated growth of sports betting across the country.

Still, Silver acknowledged, 'this is a whole new world for us'. NBA Digital's assets include NBA TV, NBA.com, the NBA App and NBA League Pass.

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