OPB Makes Monumental Decision to Allow Betting on League Games
OPB Chairman Marshall Pearson answers questions from reporters while sharing details of the league’s decision to legalize betting on its events.
August 3, 2014; New York, NY- Marshall Pearson, the President of the Organization of Professional Basketball, announced today that the OPB would now allow legalized betting on league games. The OPB was the last major sports league to make such a decision since the Central Gambling Authority empowered each league to make its own decision as to whether or not it would allow gambling on or at its events.
While legalized gambling has been controversial, it has boosted the popularity of several sports leagues that, at one time, were not nearly as popular as basketball. Since hockey began to allow gambling, the sport’s revenues have increased by almost 35% and its popularity has been on display, with subscriptions to the league’s streaming service growing by almost 400%. While the OPB has not seen a dramatic downturn in popularity, it has not grown at the pace of other sports over the last four years, and the league has struggled to maintain its historic engagement levels with fans from 25 to 45 years of age, the largest subset of sports bettors.
Sports books at casinos around the globe are expected to see a 20-25% increase in sports betting following the OPB’s announcement today.
“Marshall Pearson has finally realized the opportunity that betting provides,” said Credit S.A. Lead Gambling Analyst Luther Mathabane. “The OPB has certainly missed out on billions of dollars because Pearson has dug his heels in for so long on the issue. It’s about time he came around, even if we all know it was the owners that drove his change of heart.”
At a press conference held at The Lucky Throne Resort & Casino, Pearson stated “While I know many were anxious for us to join the other sports leagues that have sanctioned betting, we could not make the decision to follow in their footsteps lightly. We have been working to put controls in place that eliminate the risk for manipulation of our events, and we now feel that we can move forward with confidence…so it’s my honor to announce our decision to allow betting on OIB games and events.”
The OPB, now headed into its 58th season, held its annual draft last month, with collegiate star Jacob Taft selected first overall by the St. Louis Arch. The 2014-15 season is set to tip off on October 11th, and betting lines for the season’s first night of games will be available 24 hours prior to the first game’s starting time, though odds for this season’s championship were made available within thirty minutes of Pearson’s announcements. The Chicago Brawn, purchased by ZeusX founder Peter Arlington two years ago, were given the second best odds to win the championship at 6:1, while last year’s champions, the Nashville Notes, were given 4:1 odds.