Sports betting: Charles Barkley says there is too much gambling – The Philadelphia Inquirer

Hall of Famer Charles Barkleys appetite for gambling is well-known. He admitted to losing $10 million from sports betting in only six hours.

Last week, the 76ers great served up a buffet of betting news and opinions to feast on.

Before last years American Century celebrity golf tournament, Caesars Sportsbook had a yes/no prop bet on whether Barkley would finish in the top 70. In a recent interview with ESPN. Barkley said he bet $100,000 on himself to finish in the top 75. The bet was eventually refunded because of a Nevada regulation that prohibits people from wagering on events they participate in. (Barkley finished 76th).

At a media Zoom session in advance of the American Century Championship, Barkley wasnt pleased with last years ruling.

They [shafted] me with that BS rule last year. Ill give the money to one of my friends and let him bet on me.

Sorry to tell you, Sir Charles, but if your friend is making a bet on your behalf, thats proxy betting. It is especially not legal if you are a participant in an event. DraftKings got hit with a big fine for allowing a VIP to place a proxy bet from Florida during the 2021 Super Bowl while a friend in New Jersey placed the bets for him.

Barkley went on to bite the hand that feeds him by saying there is too much betting. He has served as a spokesperson and brand ambassador for FanDuel since 2020. His most recent starring role in the sportsbooks commercials features him talking with a little voice in your head about cashing out bets. This is in addition to Barkleys role as an analyst for Inside the NBA and The NBA on TNT for Turner Sports. FanDuel also has a deal as the exclusive sportsbook for NBA programming with Turner Sports.

Theres too much betting. Im concerned that you can sit in the stands and make bets now in the middle of a basketball game. But the toothpaste is out of the tube and I dont know how to put it back in, Barkley said.

Barkley said that a few years ago, an unnamed NBA owner told him that in the next three to five years, the league is going to triple what it makes on television revenue. Its not a secret, though. The NBA is currently in the sixth year of a nine-year contract with ESPN and Turner, who pay about $2.7 billion for media rights. The NBA is looking for the next broadcasting contract, which would start in 2025, to be worth over $75 billion ($8 billion per year).

READ MORE: Sixers gauging trade interest in Tobias Harris, Matisse Thybulle and others, sources say

Sixers guard James Harden is eligible to make almost $275 million over the next five years by opting in and signing a four-year extension as early as Aug. 10.

James Harden has to prove it to me next year, or Im not giving him an extension either, said Barkley. Because I dont know if hes injured or hes cooked. Its either A or B. Im not going to give you $200million for an older dude who cant play.

June 30 marks one year since college athletes have been able to cash in on their names, images, and likenesses (NIL).

Barkley hates NIL because he believes its going to breed resentment and jealousy among teammates who are comparing who makes the most money.

The NCAA has nobody to blame but themselves because theyve been boneheads forever, he said. These little schools, they aint got no chance going forward. Theyre not going to be able to pay what these big schools are going to pay.

I want these kids to be taken care of. I dont think this wild, wild west format that theyve got going on now is good and healthy for the sport.

Katie Kohler is the managing editor at Play Pennsylvania, where she writes about sports betting and casinos.

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Sports betting: Charles Barkley says there is too much gambling - The Philadelphia Inquirer