There’s betting on sports, and then there are slot machines.
Two very different things in the United States … until now.
The NBA plans to launch in-game wagering on virtual basketball, according to ESPN’s David Purdum.
In other words, rather than analyzing and betting on an actual game, you’ll be able to bet on a simulated or virtual game that didn’t take place.
Purdum reported: “‘NBA Last 90’ will drop contestants into the final 90 seconds of a simulated matchup between two NBA teams and offer wagering propositions on what transpires during the ending of a fictitious game.”
The new NBA product is a slot machine masquerading as in-game wagering. It will use a random number generator to determine outcomes.
The product will use old NBA game highlights, though Purdum reported on Twitter that the league has taken steps to ensure that the game isn’t exploitable, including by mixing highlights from different seasons.
According to the U.K. gaming commission, via ESPN, punters risked £771.4 million on virtual sports there between April 2017 and May 2018. That’s nearly $1 billion in U.S. dollars.
The NBA has been eyeing revenue from gambling since before commissioner Adam Silver wrote his now-famous editorial for the New York Times.
The league has been aggressive in seeking to create revenue streams for itself through legalized gambling, whether it’s by attempting to force sportsbooks to purchase access to its official data or by trying to impart an integrity fee on sports betting operators, strategies that have been met with great scrutiny and may not work in a low-margin business model.
This latest product, though, has a chance to be a cash cow for the NBA.
Betting on virtual sports such as horse racing is not new, even to the United States. But it’s unique that a professional sports league in America would create such a product.
Gambling Twitter began discussing this announcement immediately, with some calling the NBA hypocritical, given its past stances about the integrity of the game and wanting to prevent problem gambling.
If this is successful, perhaps the NBA and other professional leagues will spend more time on maverick ideas like this and less time on trying to siphon off money from sportsbook operators and state governments.