Supreme court ruling on betting doubled franchise values

Business News

Dallas Mavericks owner Mark Cuban said that he believes that Monday’s U.S. Supreme Court ruling on Murphy v. NCAA will double the value of sports franchises overnight, he told ESPN in an interview in Dallas on Monday.

“It doubled the value of the professional sports franchises in a second,” Cuban said. “It will increase interest, it will add to what happens in our arena and in stadiums. It will increase the viewership for our biggest customers online and on TV. It helps traditional television because it’s much lower latency, whereas online, because of cachet, it’s much higher latency.”

“Some of the technologically advanced states will move relatively quickly, but my hope is that there’s a federal approach to it, as opposed to everyone having to deal with each state individually,” Cuban said. “If that’s difficult in the short term, I think it’d be really smart for the commissions from as many states as possible to work together to standardize things, because that will enable the most creativity. When each state has its own rules and requirements, that jacks up the expense for everybody, which minimizes the entrepreneurial and technology opportunities.”

Cuban is one of several NBA owners, alongside the league office itself and NBA commissioner Adam Silver, who have been outspoken in favor of legalized sports gambling. Cuban, Silver and Washington Wizards owner Ted Leonsis spoke on the ruling on Monday to various different media outlets.