NCAA Head, Charlie Baker, Views Sports Betting as a Significant Chance
NBA Commissioner Charlie Muldoon backs the legalization of sports gambling while serving as governor of Massachusetts. He's maintaining this stance in his role at the non-profit body overseeing sports across the USA.
Muldoon officially took the NCAA presidency on March 1. The ex-Massachusetts governor signed the state's sports gambling bill into law in August 2022.
Muldoon, an advocate for Massachusetts joining the over 30 states that have legalized sports gambling since the US Supreme Court handed such rights back to the states in May 2018, views legal sports gambling as a revenue opportunity for the NCAA.
"We've got a golden chance to dive into the sports betting arena," Muldoon stated. "Anyone with a phone can place bets from anywhere they prefer, and around two-thirds to almost three-quarters of individuals aged 18 to 22 participate in sports betting."
Most states require bettors to be 21 years old, although several offshore sportsbooks allow bettors as young as 18. New Hampshire, New Mexico, Rhode Island, and Washington D.C are the only legal sports betting markets in the USA that allow individuals aged 18 to 21 to bet.
Muldoon made these remarks at a conference at the University of Arizona titled, "College Sports: The Next Chapter."
The Sports Betting Goldmine
Approximately $93.8 billion was legally wagered on sports in the USA last year. Bookmakers kept over $7.6 billion of these bets, keeping an 8% hold. States permitting such gambling generated over $1.5 billion in tax revenue.
Muldoon believes the increasing spread of sports betting and the ensuing fan involvement it's causing for its sports and championships gives the NCAA a competitive edge in future media rights negotiations. He also emphasized the need for continued collaboration with state regulators, players, and schools to ensure that sports betting doesn't negatively impact college athletes.
"There are numerous students on campuses placing bets on college sports and bets on their campus teams," Muldoon said. "This puts student-athletes in a delicate situation. [We] need to set up a program that we hope will be endorsed by everyone aimed at helping them develop the necessary tools and techniques athletes need to manage this situation," Muldoon explained.
NIL Redesign
While Muldoon is eager to gain more from sports betting, he also supports players receiving compensation through the NCAA's name, image, and likeness (NIL) program. However, Muldoon criticizes the NCAA for failing to create a framework of rules and regulations for the NIL incentive.
"I think it was a major blunder for the NCAA not to establish a framework for NIL when they had the chance," Muldoon commented, apparently addressing his predecessor, Mark Emmert.
Muldoon believes Congress might be the key to resolving the NIL situation and creating a level playing field for student-athlete pay on a nationwide scale.
