Major League Baseball wants cut from sports betting
Major League Baseball and the casino industry are entrenched in their views on a league proposal to get a cut from wagers placed on the sport following the repeal of a federal ban on sports betting earlier this year.
Representatives from both industries vigorously defended their believed right over the money wagered Wednesday during a panel at the casino industry’s top trade show in Las Vegas. The MLB and other pro leagues haves asked for a percentage of the wagers, and casinos have strongly opposed any direct payments.
Kenny Gersh, the league’s executive vice president of gaming, told the crowd of casino executives that a proposed 0.25 percent fee – which some have dubbed an “integrity fee” – is essentially a royalty that casino companies should pay if they are going to make money off of the sport. He defended it as a case of “fairness” and partnership with casino operators.
The state is going to designate these three, four, five very specific licensed entities: You guys get the right to make money from sports betting,” he said. “From a fairness perspective we think, if you are going to designate someone to be able to make money off of what at the end of the day is our sport and our events because if the Yankees weren’t playing the Red Sox last night, you are not betting on the Yankees and the Red Sox … we think we should be involved in that.”