NBA Players permitted to invest in cannabis production & Sportsbook companies

The NBA has always been strict with players maintaining the highest ethical standards. This has not changed even now, but the company has reportedly altered the CBA.

If the changes made in the collective bargaining agreement are true, NBA players will be allowed to invest in weed and sportsbook companies. This is a dramatic shift of events from the previous CBA that restricted athletes from participating in such companies.

The change has been brought by the NBPA (National Basketball Players Association.) The trade body has been actively advocating to help the players. Currently, the NBA has not shared any official information with the public. 

Before the new CBA may come into effect, it will need to be ratified by owners and players alike. However, these modifications do not mean that players will be able to breach the NBA’s ethical guidelines. 

The players will still be prohibited from using drugs and opioids since they’re prohibited from wagering on events’ outcomes. Many thought that players might run into trouble with fans as many are already blaming players for costing them money on wagers by underperforming.

However, the new CBA reflects a momentum that allows players to invest freely in something relevant. While players will not be able to bet directly, they might be allowed to promote the sports betting companies.

The trend is not surprising since several sports personalities have already promoted multiple sportsbooks. If the initiative is approved, some players might even launch their sports betting companies. 

Players like Giannis Antetokounmpo and Kevin Duran have already patented their names. This means that they can launch their sports betting proceedings. While this becomes a possibility, running a profitable sports betting operation is challenging, as already shown in the market.