US Sports betting in states outside of Nevada may be nearing reality. But that doesn’t mean it will be a business success. Even as major professional sports leagues like the National Basketball Association open their eyes to the multibillion-dollar opportunity with the sports wager industry, their ideas on how to get a piece of the action may impede the ability to attract gamblers away from illegal betting and offshore markets. The NBA, in particular, is being “short-sighted” in requesting a 1 percent cut on all bets, says Twitter v.p. of Analytics Jeff Ma. Ma, who was one of the leaders…

Rob Manfred, commissioner of North America’s Major League Baseball (MLB), has said he would be prepared to hold further talks over wider legalisation of sports betting in the US. Nevada is the only US state in which wagering on sports is legal, but a number of other states have introduced legislation that could legalise the sector. However, plans have been met with a mixed response from professional leagues in the country. National Basketball Association commissioner Adam Silver has said he would be open to the idea of expansion, while NFL American football league chief Roger Goodell last week reiterated his…

American sports fans are poised to wager $36.5 billion on Major League Baseball (MLB) this year, according to an estimate by the American Gaming Association (AGA) released just days before opening day. Of the $36.5 billion that will be wagered, $35.4 billion – or 97% – will be placed illegally through illicit offshore websites and sports bookies. Americans wager roughly $154 billion a year on sports illegally due to the 1992 federal prohibition on sports betting. “The amount wagered illegally on professional baseball is another sign the federal ban on sports betting has become an utter failure,” said Geoff Freeman,…

Daily fantasy sports provider DraftKings has moved to enhance its presence in Major League Baseball (MLB) by entering into partnership with 27 teams from the North American competition. The series of new deals covers a number of franchises such as reigning World Series champion San Francisco Giants as well as the New York Yankees, Boston Red Sox and New York Mets. However, the deal excludes Seattle Mariners and Arizona Diamondbacks, which play in states that prohibit daily fantasy games as a form of gambling, as well as Canadian team the Toronto Blue Jays. Under the new deals, supporters will have…