Legalized sports gambling would be winning bet for NBA & NFL

Chris Christie declared sports gambling decriminalized in casinos and racetracks. That’s the main reason that despite being an attractive and growing market, no major sports team is based in Las Vegas

The first state poised to try to join Nevada is New Jersey, where casinos are tumbling into bankruptcy and cutting thousands of jobs. the stock market

NBA spokesman Mike Bass wouldn’t say if Silver’s comments represent a formal change in policy in the league.

But New Jersey might not get a long-lasting edge. The National Football League and Major League Baseball declined to comment.

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Legalized sports gambling would be winning bet for NBA & NFL – Sep. He says the casinos hope the problems can be resolved in time for the Super Bowl in February.

In Nevada, the sports books are the least profitable part of the casinos, accounting for just 2% of revenue.

“Everybody knows here that if you have a gentlemen’s bet or a small wager on any kind of sports contest, it makes you that much more…engaged in it,” Silver said at a sports forum in New York. And he hinted that his league might be less opposed than in the past, primarily because of the interest gambling generates.

Even if the obstacles are cleared, sports betting is not likely to be a cure for Atlantic City’s casino problems. This week, Gov.

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NBA Commissioner Adam Silver recently said it’s inevitable that legal sports betting could spread beyond Nevada, the only state that now allows it.

CNNMoney (New York) First published September 9, 2014: 3:18 PM ET

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Leagues have opposed sports betting because of the possibility it could compromise their games’ integrity — a concern ever since the thrown World Series in 1919. States surrounding New Jersey all have casinos, and could act to legalize sports betting if they thought the Garden State was winning big. “That’s where we’re going to see it pay dividends.”

Related: Sports gambling vs. 9, 2014 by Chris Isidore   @CNNMoney September 9, 2014: 5:26 PM ET

Don’t bet on that lasting.

But an attorney for the state’s casinos, Lloyd Levenson, says there are federal obstacles to legalized sports betting that need to be resolved. What New Jersey hopes is that the opportunity to bet on football and basketball will bring in bettors who also throw a few bucks into slot machines and at blackjack tables

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