The NBA announced on Wednesday that it reached an agreement a new collective bargaining agreement (CBA) with the player’s union. There were several changes in the updated deal, including new rules about how involved league players can be with sports betting operators.
One major change is that active players can now invest in sportsbooks, so long as their total investment does not consist of more than 1% of the company.
Additionally, their roles in the organization would need to be a passive one. Interests must not include, “management, governance, voting, or executive role or other operational rights or roles.”
The rules are laxer for what the league describes as an entity that is involved in facilitating wagers but does not accept NBA wagers. In those instances, players can own up to 49% if the operation is, “in compliance with all applicable laws and regulations relating to sports wagering, fantasy sports contests, or similar transactions.”
Active NBA players will also be able to promote sportsbooks while still in the league, but again, with a certain number of stipulations. Most importantly, they cannot endorse any sportsbook if the nature of the endorsement involves NBA wagering.
It has been a busy week for leagues and governing bodies. In addition to the NBA updating its CBA with new betting ramifications, the NFL announced a new round of suspensions related to violations of the gambling policy. Additionally, the NCAA updated its policy as it regards to sports betting and student-athletes.