Sports betting has gone hand in hand with professional sports for so long now, so much so that the US Census Bureau includes sports betting revenues in its numbers. According to the recent version of the QTAX, or the Quarterly Survey of State and Local Tax Revenue, sports betting generated national state-level sales tax and gross receipts of $505.96 million, up 20.5% from the same quarter in 2022.
Nowadays, fans across the country engage in various forms of sports betting, whether for football, basketball, baseball, or soccer. According to the QTAX, in the third quarter of 2023, New York was the state with the largest share of the country’s tax revenue at $188.53 million or more than 37% of total tax revenue and gross receipts from sports betting in the US. Behind New York was Indiana ($38.6 million) and Ohio ($32.9 million).
One of the largest factors contributing to the rise of sports betting in the US is its legalization, made possible in 2018 when the Supreme Court struck down the Amateur Sports Protection Act. Since then, sports betting has been made legal in 38 states, the District of Columbia, and Puerto Rico. One of the prominent factions of sports bettors in the US are those engaged in NBA betting. As sports betting becomes normalized in the NBA, however, it’s important to consider its potential impact on the professional basketball scene.
In this post, we’ll take a closer look at what NBA betting is, its impact on professional NBA players, and what NBA’s view on betting is:
What is NBA betting?
Similar to other forms of sports betting, betting on the NBA allows fans and viewers to bet on various odds and lines. Some aspects of betting involve predicting the outcomes of matches, while others are more related to player stats or performance, such as the number of baskets, passes, or assists. Nowadays, NBA fans and viewers can easily engage in NBA betting through online betting platforms and bookmakers. Using these platforms, bettors can place single bets on various betting markets or use an accumulator to get a higher payout. Bettors can also use the “Live Mode” to watch games and place bets on in-play events for a more convenient experience.
As mentioned above, while match outcomes certainly matter, it’s important for bettors to keep track of team changes and movements, such as new player recruits, that may impact a team’s performance for the upcoming season. In a previous post, we highlighted Judah Mintz, one of many former Orange players taking the court as part of the NBA Summer League. Keeping track of recent team updates can help you determine the odds of winning.
One of the key factors contributing to the rise of NBA betting is the increase in convenience and accessibility. Nowadays, more and more fans are betting on via the Internet instead of through traditional bookies. According to insights from Statista, the online sports betting market is projected to reach $14.3 billion in 2024, with market researchers expecting a projected market volume of $23.8 billion by 2029. Currently, betting on basketball makes up the second largest revenue share in sports betting, as it is a close second to football.
The impact on professional players
Of course, while NBA betting may seem like a predominantly fan or viewer activity, the rise of the basketball betting market may also impact players and their performances. However, the outlook isn’t always positive. One of the most recent case studies for this is that of Jontay Porter, former Toronto Raptors center and power forward. Earlier in the year, Porter made sports headlines for his sports betting scandal, which led to his lifetime NBA ban and a criminal charge.
Court documents revealed that Porter communicated directly with defendants in the case via an encrypted messaging app. This included messages telling them he planned to take himself out of a January 26 game early by feigning an eye injury. In one of the two games investigated, Porter played four minutes and 24 seconds against the Los Angeles Clippers before exiting with no points, three rebounds, and one assist. This was well below what sportsbooks were expecting, which led to massive payouts for anyone who bet the “under”. One conspirator netted an alleged $33,250 as a result of this move.
The NBA’s view on betting
Despite the potential downsides, however, the NBA isn’t totally against the idea of NBA betting. If anything, the league seems supportive. In March 2024, the NBA announced that viewers could conveniently bet on live games on NBA League Pass when they watch the games on the official app. This feature was brought in as a partnership with global data company Sportradar to help League Pass viewers access real-time betting odds on NBA games as they watch them.
Sportradar uses emBET, its OTT technology, to show betting lines on-screen during game streams. These lines include point spreads, money lines, and over/unders for now, but may expand to other information in the future. It’s also important to note that the option to place a bet will only be allowed in states where mobile sports gambling is already legal.
