Raiders owner Mark Davis says he's 'not a fan' of sports gambling
The Las Vegas Raiders and Aces owner told CNBC he opposes proposition bets and said protecting the integrity of the game should be the top priority as prediction markets grow.
At a glance
- Mark Davis, owner of the Las Vegas Raiders and Aces, said he is 'not a fan' of sports gambling, especially proposition bets.
- Davis said protecting the integrity of the game should be the top priority for pro leagues as gambling revenue grows.
- The NFL has declined partnerships with prediction market operators and filed a Supreme Court brief arguing they are gambling.
Mark Davis, owner of the Las Vegas Raiders and the Las Vegas Aces, said he is not a fan of sports gambling, particularly proposition bets, in an interview with CNBC Sports' Michael Ozanian. He warned that the rapid expansion of sports betting could threaten the integrity of professional sports.
"I'm not a fan per se of gambling on sports, especially the one-on-ones, the proposition types of betting," Davis said.
Davis said protecting the integrity of the game should remain the top priority for professional sports leagues even as gambling partnerships generate significant revenue. "I think the key thing is the integrity of the game," he said.
Prediction markets under scrutiny
The comments come as professional sports leagues grapple with the rapid growth of prediction markets, which allow users to trade contracts tied to the outcomes of sporting events.
The NFL has taken a more cautious approach than some other leagues. It has embraced sports betting but declined to enter official partnerships with prediction market operators amid concerns about regulation and competitive integrity.
NFL Commissioner Roger Goodell told CNBC Sport in September that stronger regulations are needed for predictive markets. He said the league does not feel it has to be first but wants to be right, and that the best approach is to be patient and keep the integrity of the game first.
In October, the league filed an amicus brief with the Supreme Court arguing that prediction markets are gambling and should be regulated by states.
Davis's history with gambling
Davis helped bring the first NFL franchise to Las Vegas when he moved the Raiders from Oakland in 2020. He recalled a time when the NFL took a much harder stance against gambling, noting a sign in the locker room that said "No gambling whatsoever," with suspension or expulsion as consequences.
Yet Davis has not completely shied away from sports gambling. Both the Raiders and Aces are partners with BetMGM, and Davis said MGM Resorts CEO Bill Hornbuckle was instrumental in his purchasing the Aces.
He acknowledged the financial benefits of gambling but said leagues must weigh the revenue against potential risks. "The revenue that is coming from gambling and those types of entities is large so there has to be a balance between integrity and what the good things that it can bring to the league," he said.
Davis said his focus remains on athletes and competition. "I'm more worried about the game on the field," he said. "People ask, 'What do you think you're going to win by,' I said, 'I just want to win by one point.'"
Source: CNBC.
Questions and answers
- What did Mark Davis say about sports gambling?
- The Las Vegas Raiders owner said he is 'not a fan' of gambling on sports, particularly proposition bets, and warned it could threaten the integrity of professional sports.
- How has the NFL responded to prediction markets?
- The NFL has declined official partnerships with prediction market operators and filed an amicus brief with the Supreme Court in October arguing prediction markets are gambling and should be regulated by states.
- Are the Raiders and Aces involved in sports betting partnerships?
- Yes, both teams are partners with BetMGM, and Davis acknowledged the financial benefits of gambling while calling for a balance with integrity.
