January 29, 2015 in public
NHL Superstar Bernie Nicholls says: “I mean seriously, is there even an argument… ?”
LOS ANGELES, Jan. 29, 2015 /PRNewswire/ — NBA Commissioner Adam Silver, former NBA Commissioner David Stern and Mavericks owner Mark Cuban made it very clear they support legal sports gambling. While not explicitly stating it, revenue is undoubtedly the main driver for this awful idea. The leagues have the right to make more money but the problem is that it is illegal in most of the country. Why the NBA or any sports league would want to expend the enormous effort to change laws, only to face rabid fans who lose their shirts over the course of a few weeks or even days because their favorite team went on a losing streak is beyond fathomable… until you consider the money.
NHL Superstar Bernie Nicholls says: “Fans get over player trades, strikes and lockouts, but when you start to enable those fans with regulated sports betting, you are opening up a box that will end up causing leagues to lose fans, not gain them.”
There is a better way: The NBA and every other sports league can have the best of both worlds by embracing the concept of a “sports stock market” that will give them the revenue they are seeking without creating a massive disconnect with their fans. The world of sports investing is one well worth consideration and it is the future of fan engagement.
As with any investment, the term is part of the strategy. With sports stocks, performance can be gauged over a week, month or even years. Sports fans and the public in general can apply their knowledge and passion for sports into trading teams in a market environment. Sports traders grow in their understanding of finance, which will benefit them throughout their lifetime. Conversely, a debt with a bookie only benefits the bookie and the house always comes out on top in the end. Sports betting is a quick fix, a onetime hit which is a boom or bust scenario every time a bet is placed. There is a reason sports betting has been kept in confined areas of the country. That says nothing of the social damages inflicted on the gambler and society as a whole. Gambling is a vice… period.
Nicholls continues, “Betting on sports and gambling are things that are shiny on the outside, but are dark and dreary on the inside. No family wants to have a casino built in their backyard. Why would these same families want regulated sports betting at their doorstep, potentially affecting the lives of the people they care about? Regulated sports betting makes no sense to me.” He added, “I mean seriously, is there even an argument when considering sports betting vs. sports investing? I don’t think there is, but I’m just one person. It is going to take some people to help get the word out on sports investing, but I know they are out there and I know they will assist in any way they can.”
As the old saying goes “What happens in Vegas, stays in Vegas!” Regulated sports betting is just one of the many things that should stay there. Real money sports team investing is not here just yet… but it will become a reality with your help. You can test drive the free market athttp://www.ASMFree.com/ (follow #SportsFolio) and sign the online petition athttp://www.TheSportsVote.com (follow #TheSportsVote)
AllSportsMarket (ASM) is operated by The New Sports Economy Institute, a 501(c)(3) nonprofit organization established to teach finance through sports. Bernie Nicholls is ASM’s spokesman and sports industry liaison. Bernie was an explosive scorer who accumulated over 1,200 career points while playing for six NHL teams. Recently, Bernie helped coach the L.A. Kings to their first Stanley Cup ever in their 48-year history. For more information and to enter the 2015 AllSportsMarket Web App Super Bowl Challenge for FREE!, visit: http://www.ASMFree.com and click the orange Web App icon beneath the Apple download button. ASM Free! is available now for Apple and will be accessible by nearly all other platforms worldwide including Android, BlackBerry, tablets, laptops and desktop computers this Sunday – Feb. 1, 2015.