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Labor Agreement Allows NBA Players To Invest In Gambling Companies

Written By Katarina Vojvodic on April 4, 2023 - Last Updated on April 5, 2023
New NBA CBA Allows Players To Make Investments In Sports Betting Companies

The NBA and National Basketball Players Association (NBPA) have reached a new seven-year Collective Bargaining Agreement (CBA). The new arrangement will reportedly enable players to promote and make some brand-new investments in:

  • NBA teams
  • WNBA teams
  • Sports betting companies
  • Cannabis companies

The league decided to allow investment in US gambling and cannabis. Especially after witnessing how much states have profited from legal sports betting.

The tentative deal starts with the 2023-24 season. The CBA is expected to be approved by the league’s Board of Governors and players in the coming weeks.

Senior lead NBA Insider for The Athletic breaks the news

Senior lead NBA Insider for The Athletic and Stadium, Shams Charania, broke the news on Apr. 1 via Twitter:

According to his announcement, the agreement will include:

  • The introduction of an in-season tournament
  • Positionless All-NBA teams
  • A new luxury-tax level

The new deal will run until 2029-30 unless either side decides to opt out after the sixth year, 2028-29.

Details on the new CBA

According to a tentative agreement, the teams will get an 80-game schedule next season in August. Those 80 games will likely include four tournament games that will go toward regular-season standings. Two more games will be added, totaling the entire 82-game schedule.

As reports, players must appear in at least 65 games to qualify for the top individual awards, like Most Valuable Player. The maximum value of contract extensions will rise. Likewise, a third two-way contract will be available to teams that could see roster sizes rise from 17 to 18.

second luxury tax level is a new part of the CBA. Once reached, it will keep teams from using their midlevel exception to sign players. That was a compromise, given that certain teams previously required the so-called “upper spending limit.”

According to ESPN, The NBA and NBPA will increase the upper limits on extensions from a 120% increase on a current deal to 140%.

Finally, the new agreement will not include a return to the policy that would allow high school players to enter the NBA draft.

Who could benefit the most under the new CBA?

If an increase in two-way contract slots jumps to three per team, some of the biggest success stories could emerge from this change. According to ESPN, these could include:

  • Austin Reaves and Alex Caruso with the Los Angeles Lakers
  • Duncan Robinson and Max Strus with the Miami Heat
  • Anthony Lamb with the Golden State Warriors
  • Jose Alvarado with the New Orleans Pelicans
  • Luguentz Dort with the Oklahoma City Thunder.
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Katarina Vojvodic

Katarina Vojvodic is a lead writer for PlayUSA who lives in Toronto. Vojvodic provides coverage of the US gambling industry with a focus on US online casinos. Previously, she covered Ontario’s online gambling industry for Vojvodic holds a master’s degree in journalism from the University of Belgrade. Outside working hours, she can be found near the water with her husband and their two kids.

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