"Since widespread legalization, the multibillion-dollar industry has made it easy to place wagers on everything from the outcome of games to that of a single play with just a few taps of a cellphone. It's just about impossible to go to a basketball, football, baseball or other pro game today - or watch a matchup on TV - without seeing ads for sports betting. Fans can place wagers from their stadium seats, while "Bet" tickers scroll on TV sports broadcasts. Star athletes are frequently at the center of ads promoting it all."
"In Thursday's indictment, federal investigators accused Rozier and other defendants of breaking the law by exploiting private information about players to win bets on NBA games. Rozier's lawyer, Jim Trusty, said in a statement that his client is "not a gambler" and "looks forward to winning this fight." A separate indictment alleges Portland Trail Blazers coach Chauncey Billups and others participated in a conspiracy to fix high-stakes card games."
More than 30 people, including Miami Heat guard Terry Rozier and other NBA figures, were arrested on charges tied to illegal sports betting and alleged misuse of private player information to win bets. Federal investigators allege defendants exploited confidential player information; Rozier's lawyer called him "not a gambler" and said he looks forward to contesting charges. A separate indictment accuses Portland Trail Blazers coach Chauncey Billups and others of conspiring to fix high-stakes card games; Billups' attorney denied the allegations. Since the 2018 Supreme Court decision, legal sports betting has expanded rapidly into a multibillion-dollar, mobile-driven industry saturated with advertising. Regulators face enforcement challenges while experts warn most gamblers lose money and leagues' promotion of gambling raises concerns.
Read at Fortune
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