Mark Cuban, Dallas Mavericks owner and “Shark Tank” host, discusses the Supreme Court ruling in favor of individual states legalizing sports betting. Cuban also weighs in on the state of the markets, Tesla and Apple.
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Dallas Mavericks Owner Mark Cuban On The Future Of Sports Betting | CNBC

The U.S. Supreme Court decision to allow states to legalize sports betting is great news for investors in the sports and gambling industries, billionaire investor Mark Cuban told CNBC on Monday.

“I think everyone who owns a top four professional sports team just basically saw the value of their team double,” the owner of the NBA’s Dallas Mavericks said in a “Squawk Alley” interview. “It can finally become fun to go to a baseball game again.”

“It’s easy to see how you’ll have fun at the stadium, at the arena or while you’re watching —whether its online or traditional platform,” added Cuban, a “Shark Tank” host.

On Monday, the court upheld the legality of a 2014 New Jersey law permitting sports betting at casinos and racetracks in the state.

Shares of several casino companies moved higher after the ruling, including Caesars Entertainment, up 6 percent and Penn National Gaming, up 4 percent. Others gaining included MGM Resorts, Boyd Gaming and Churchill Downs. Wynn Resorts stock recaptured some of its losses from earlier in trading, down 1.8 percent on the day.

Cuban, also an investor in esports, said the Supreme Court decision gives states the chance to catch up with other countries who have already allowed sports betting.

“It really comes down to what the states do. How the states handle the implementation and whether or not they work together will determine how all this plays out,” Cuban said. “If states are smart, they’ll come together and work on a single solution.”

He also predicted technology companies such as Amazon and Facebook, not generally associated with sports, could benefit as well.

“With technology, it’ll be something that’s a new form of entertainment,” Cuban said. He doesn’t expect this decision will drive chip manufacturers, however.

“This is not like all of a sudden you’ll have the need for 10 million miners,” he added.

Disclosure: CNBC owns the exclusive off-network cable rights to “Shark Tank,” which features Mark Cuban as a judge.

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37 COMMENTS

  1. There are several factors in how to win sports bets. One resource I discovered which successfully combines these is the *TheSportsCash. Com* definately the best system i’ve seen.Check out the interesting information .

  2. Monika Humayer
    Government should create jobs and get taxes created from profit of actual value and not using tax collected from betting offices which is people’s hard earned money .It is the government who should be made responsible. The same goes for the profit the goverment made from selling pharmaceutical drugs alcohol and cigarette. Everyone is suffering and choked by the idiotic habits which should be hiding way from sight and not being advertised like a coolest thing as part of watching a soprt game. I would ban
    Betting advertisement during a match as the enjoyment of the game is being linked with the name of the betting companies , So our minds are being dangerously tricked, First step to end this is to really ban any harmful companies or betting shops being advertised during matches or at least on the TV Ot made is believing that gambl8ng is as much enjoyment as watching a great game, Then football playing horse riding tennis would become just like any other entertainment job or healthy sport activity and not a source of extreme Danger.

  3. Cool, can’t wait til California legalize sports betting. Watching the Lakers put a few against them 🙂

  4. I’ve been researching into betting systems and found a great resource at Sebs Sport Crusher (check it out on google)

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  6. i’m all for gambling. but i enjoy going to a casino. sports betting. yay ill do it. but not all the time.

  7. It was a shame that we who live in the east coast couldn’t go to Atlantic City to bet on sports (Boxing, Basketball, MMA etc.) like you can do in Las Vegas. They should allow reputable Casinos that have a base in Atlantic City and Las Vegas to offer online sports betting as well.

  8. Better ro trade Stocks or Forex if you want to actually make money. betting is a quick way to go broke!

  9. Mark, if one of your employees treated you like Musk treats his enemies, you would not be so supportive of the butt-head style.

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