NHL commissioner Bettman to announce sports gambling partnerships

The NHL is expected to get involved in the sports gambling industry, with league commissioner Gary Bettman reportedly to announce strategic partnerships at an 11 a.m. ET news conference.

According to Nielsen sports study, the NHL would see a financial windfall from legal sports betting of as much as $216 million US annually due to widely available, legal and regulated sports betting. \

In May, the U.S. Supreme Court struck down a federal law making sports gambling illegal in many states, allowing the NHL to move forward.

At the time, Washington Capitals owner Ted Leonsis called the decision “a great one for sports fans” and adds he’s eager to embrace the expansion of sports betting in the U.S., adding legalized betting would protect the integrity of sports against potential corruption and paves the way to implement safeguards against fraud.

All four major U.S. professional sports leagues, the NCAA and the federal government had urged the court to uphold the federal law. In court, the NBA, NFL, NHL and Major League Baseball had argued that New Jersey’s gambling expansion would hurt the integrity of their games.

It’s estimated that hundreds of billions of dollars are bet on sports every year by American gamblers — the vast majority of it illegally. Now, with the sports gambling landscape set to change drastically over the next few years, leagues, owners and players all want a slice of this lucrative pie.

“I think everyone who owns a top-four professional sports team just basically saw the value of their team double,” Mark Cuban, the owner of the NBA’s Dallas Mavericks told CNBC earlier this year.