Something new to remember the next time a sports team comes asking for public money for a stadium: The value of their teams just doubled, according to Dallas Mavericks owner Mark Cuban, citing today’s U.S. Supreme Court decision striking down a federal law banning sports betting in states not named Nevada.
“I think everyone who owns a top four professional sports team just basically saw the value of their team double,” Cuban said in a CNBC interview. “It can finally become fun to go to a baseball game again.”
“It’s easy to see how you’ll have fun at the stadium, at the arena or while you’re watching — whether its online or traditional platform,” he said.
Oh, yes, it’s going to be a blast being a baseball fan sitting in the same row as someone who just put the monthly mortgage payment on the wrong team.
How it would work is still anyone’s guess, but Cuban says Amazon and Facebook will probably figure it out and create an entirely new form of entertainment.
After the Supreme Court issued its opinion, the fantasy sports site DraftKings said it would launch a sports betting platform and apply for state licenses.
Major League Baseball, which has banned its all-time hits leader for life because he bet on baseball, said it will seek additional protections to protect “the integrity of the game.” CBS Sports says baseball wants a 1 percent integrity fee of all money bet, and the players union will be looking for a cut of of the action, too.