Las Vegas Raiders and Aces owner Mark Davis may be running a business in America’s gambling capital, but he’s not a fan of sports betting.
In an interview with CNBC Sports’ Michael Ozanian, Davis expressed concern about the rapid expansion of sports gambling, particularly suggested bets, which are bets on specific events during a game that are not necessarily tied to the final outcome. Davis said the growth of the sports betting industry could threaten the health of professional sports.
“I’m not a fan of sports betting, especially one-on-one propositional betting,” Davis said.
Davis said that even though gambling partnerships generate significant revenue, protecting the integrity of the game should remain a top priority for professional sports leagues.
“I think what’s important is the integrity of the game,” he said.
The comments come as professional sports leagues grapple with the rapid growth of prediction markets that allow users to trade contracts tied to the outcome of sporting events.
The NFL is taking a more cautious approach than other professional sports leagues. The league has embraced sports betting, but has declined to form formal partnerships with prediction market operators due to concerns about regulation and competitive integrity.
“We believe there needs to be more regulation of prediction markets,” NFL Commissioner Roger Goodell told CNBC Sports in September. “We don’t feel like we have to be first in this game. We feel like we’re going to be right. And the best thing is to be patient and make sure we have game-first integrity.”
The league filed an amicus brief with the Supreme Court in October, arguing that prediction markets are gambling and should be regulated by states.
“People have to believe in the game,” Davis said. “Is it worth the risk? I don’t know. I can’t answer that.”
Davis helped bring the first NFL franchise to Las Vegas when he relocated the Raiders from Oakland to Las Vegas in 2020. He said he remembers the NFL taking a very tough stance on gambling.
“I remember when I was little and I walked out the locker room door and there was a big sign that said, ‘No gambling,’ or you’d be suspended or you’d be out of the league,” he said.
The longtime sports owner hasn’t given up on sports gambling completely. Raiders and Aces are both partners betmgm And Davis said MGM Resorts CEO Bill Hornbuckle was instrumental in Ace’s purchase.
He acknowledged the economic benefits of gambling, but said the league needs to weigh the revenue against the potential risks.
“There’s a lot of revenue coming from gambling and organizations like that, so there has to be a balance between integrity and the good it brings to the league,” he said.
As gambling and prediction markets proliferate, Davis said he remains focused on athletes and competition.
“I’m more concerned about the game on the field,” Davis said. “People ask me, “How many points do you think we can win?” and I say, “I just want to win by one point.”
