{"id":75190,"date":"2023-04-12T13:52:46","date_gmt":"2023-04-12T13:52:46","guid":{"rendered":"https:\/\/articles.runyourpool.com\/?p=75190"},"modified":"2023-04-12T14:10:18","modified_gmt":"2023-04-12T14:10:18","slug":"new-nba-cba","status":"publish","type":"post","link":"https:\/\/www.runyourpool.com\/articles\/2023\/04\/12\/new-nba-cba\/","title":{"rendered":"New NBA CBA Allows Players to Promote Sports Betting Companies"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>The New CBA<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Shams Charania of The Athletic reported that the NBA and NBPA announced a tentative new collective bargaining agreement. The potential new seven-year deal will allow NBA players to promote and invest in NBA teams, WNBA teams, sports betting, and cannabis companies. Though the new CBA has yet to be approved, it will allow more players to operate as owners and pursue personal entrepreneurial interests beyond the basketball court. Fortunately, some former NBA players have laid the ownership blueprint for investing in a team or the WNBA. For example, Michael Jordan became the majority owner of the Charlotte Hornets basketball team back in 2010; before he became the majority owner, it was reported by<a href=\"https:\/\/www.cbssports.com\/nba\/news\/michael-jordan-in-talks-to-sell-majority-ownerhsip-stake-in-charlotte-hornets-per-report\/#:~:text=Jordan%20became%20the%20majority%20owner,franchise%20dating%20back%20to%202006.\"> CBS Sports <\/a>that Jordan had been investing in the team since 2006. Also, former NBA player and investor Baron Davis and NBA Hall of Famer Pau Gasol were part of a group that invested $75 million to expand the <a href=\"https:\/\/www.nba.com\/heat\/news\/wnba-raises-75-million-dollars-from-investors-including-micky-and-nick-arison\">WNBA<\/a>.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Sports Betting Endorsement Breakdown&nbsp;<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Sportsbooks have seen some success through partnering with players from notable professional leagues. For example, Edmonton Oilers superstar and captain Conor McDavid starred in a BetMGM commercial. Additionally, the PGA Tour has allowed sports books to collaborate with golfers such as Jordan Spieth, a brand <a href=\"https:\/\/www.gamingtoday.com\/news\/pga-tour-masters-in-play-mobile-betting\/\">ambassador with FanDuel.<\/a> Similarly to the NHL, NBA players can only promote and endorse sports books where sports betting is legal. Unfortunately, this would disadvantage most teams in the western conference. For example, players that play for teams in Texas would be prohibited from endorsing sports books, given sports betting is not legal there.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/articles.runyourpool.com\/wp-content\/uploads\/2023\/04\/Spurs_Rockets_Basketball_23065096365080.jpg\" alt=\"\" class=\"wp-image-75192\" srcset=\"https:\/\/blog-assets.runyourpool.com\/articles\/wp-content\/uploads\/2023\/04\/12135222\/Spurs_Rockets_Basketball_23065096365080.jpg 1024w, https:\/\/blog-assets.runyourpool.com\/articles\/wp-content\/uploads\/2023\/04\/12135222\/Spurs_Rockets_Basketball_23065096365080-300x200.jpg 300w, https:\/\/blog-assets.runyourpool.com\/articles\/wp-content\/uploads\/2023\/04\/12135222\/Spurs_Rockets_Basketball_23065096365080-768x512.jpg 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">AP Photo\/Eric Christian Smith<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The last CBA was finalized before The Supreme Court overturned the Professional and Amateur Sports Protection Act of 1992 (PASPA) in 2018. Since then, the NBA has solidified partnerships with sportsbooks such as DraftKings, FanDuel, BetMGM, and Bally. Even owners have planted their flags within the sports betting landscape. For example, Dallas Mavericks owner Mark Cuban invested in DraftKings before the legalization of sports betting. On the other hand, Michael Rubin relinquished his ownership stakes in both the New Jersey Devils and Philadelphia 76ers to build the Fanatics sportsbook. If the new CBA is approved, Rubin would have missed out on a potential opportunity to leverage players on both teams, given they operate in states where sports betting is legal to help promote and partner with Fanatics.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Things To Keep In Mind&nbsp;<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">According to Brant James of <a href=\"https:\/\/www.gamingtoday.com\/news\/nba-players-endorse-sportsbooks-new-cba\/\">Gaming Today,<\/a> basketball makes up over 30% of the American sports betting handle. This percentage also includes the March Madness tournament; in this year\u2019s tournament, American sports bettors were predicted to wage <a href=\"https:\/\/www.forbes.com\/sites\/jayginsbach\/2023\/03\/12\/2023-ncaa-tournament-betting-68-million-americans-to-wager-on-march-madness\/?sh=159bb1cc2eb2\">$15.5 billion<\/a>. With the amount of handle generated in basketball along with the large following that NBA players possess, it is clear that NBA players can profit significantly from being owners and brand ambassadors within the sports betting space.&nbsp; I predict that if this new CBA is approved, more players will partner with sportsbooks through content opportunities. For example, NBA Players like Draymond Green and CJ McCollum have podcasts. Podcasts are a lucrative marketing tool because they are rooted in community and familiarity, especially given the number of money sportsbooks spends on marketing. Ultimately if this new CBA is approved, it would be a measuring stick on the impact of professional sportsbook ambassador opportunities, given the global reach of basketball.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new NBA collective bargaining agreement made waves when it was revealed that players can endorse sports betting and marijuana companies.<\/p>\n","protected":false},"author":6,"featured_media":75191,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","footnotes":""},"categories":[797,45],"tags":[],"class_list":["post-75190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editorial","category-nba-basketball"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New NBA CBA Allows Players to Promote Sports Betting Companies | The Poolside 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