Gabelli Sports Business Initiative

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Focused on the Future of Sports

Sports business is evolving at an unprecedented pace. From the popularity of new recreational sports to advanced use of biometric data to aid in athletic success, the world of sports is becoming more complex and more controversial. As a result, sports business models, legal standards, and ethical questions are becoming more complex and fascinating. Players are asserting their rights, owners are profiting through new revenue streams such as gambling and streaming, and sports fans are coping with the intersection of sports and politics. Additionally, mental health concerns, sexual abuse, and gender identity of athletes have produced debate on all levels of the sports hierarchy.

The Gabelli School Sports Business Initiative is at the cutting edge of everything that is happening in sports business. It examines and analyzes current issues involving sports and provides a forum that brings together stakeholders across professional sports, amateur sports, collegiate sports and Olympic sports, for critical discussions on what matters most.

From sports podcasts to symposia to lectures, the content we produce and deliver provides the insights and thought leadership that will drive the future of sports.


Professor Mark Conrad

Mark Conrad

The Gabelli School Sports Initiative was founded and is directed by Professor Mark Conrad, JD, who teaches in the Gabelli School’s Law and Ethics Area, and who also directs the Sports Business concentration for Gabelli School undergraduates. He has taught sports law and business classes at Fordham University for over 25 years. Professor Conrad has served as a panelist discussing sports law and business topics at other institutions, including Harvard University, Duke University, The University of Pennsylvania, and Fordham Law School, and is frequently quoted in major media outlets. He has lectured at Columbia University and Northwestern University in Doha, Qatar.

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NEW – Sports Business Podcast with Prof. C

Professor Mark Conrad interviews sports experts, authors, and athletes on the topics that are changing the industry. He also comments on the key issues of the day. His law background provides a ground-breaking approach to enlightened exchanges with guests who join him in tackling tough topics. Tune in to these stimulating discussions to gain diverse perspectives, learn about interesting trends, and delve into the depths of the controversies that often make headlines.

Season Two

High Stakes: The Gamble Behind Legal Betting

Since the U.S. Supreme Court allowed states to legalize sports betting, 37 states and the District of Columbia have created regulated sportsbooks. From a financial standpoint, the results have been striking: since 2018, over half a trillion dollars have been legally wagered on sports in the U.S.

But is this surge in legal sports betting good for society?

In the latest episode, Prof. Mark Conrad - known as Prof. C - explores this question. Drawing on his 2024 article in the Harvard Journal of Sports and Entertainment Law, he discusses the potential harms of widespread gambling and outlines his proposals to limit advertising and promotional tactics.

Read the full article: Harvard Journal of Sports and Entertainment Law (2024)

Listen now to the latest episode of the Sports Business Podcast with Prof. C.

  • 00;00;00;00 - 00;00;47;18
    Mark Conrad
    Hello and welcome to the Sports Business Podcast with Prof. C, the podcast that explores the world of professional, collegiate, amateur, and Olympic sports. Im Mark Conrad, or Prof. C, from Fordham Universitys Gabelli School of Business, where I serve as Professor of Law and Ethics and the Director of the Sports Business Initiative. Seven years ago, the U.S. Supreme Court opened the door to legalize sports betting by allowing states to enact laws permitting this practice.

    00;00;47;21 - 00;01;18;19
    Mark Conrad
    Since then, 37 states and the District of Columbia have legalized sports books. Advocates argued that legalizing sports betting was a better way to regulate the practice, than keeping it illegal. The argument noted that betters will bet illegally anyway, especially during the Super Bowl and March Madness, with no controls, so states creating a legal structure was a better approach.

    00;01;18;22 - 00;01;48;17
    Mark Conrad
    Not to mention that legalized sports betting gave states the opportunity to earn revenues from the licensing of betting companies and from taxes on both those companies and successful betters. Indeed it has worked  too well. Since 2018, the amount wagered legally on sports in the United States surpassed half a trillion dollars. With two-thirds of the states legalizing sports betting,

    00;01;48;19 - 00;02;23;22
    Mark Conrad
    it is a safe bet  no pun intended  that these handles will increase, and increase at a faster rate, as most states dip into the sports betting universe. This is not an idle statement because the nations two most populous states  California and Texas  have not legalized sports betting yet. New York is the largest state with legalized sports books, and it is not only the highest betting handle with an average of $2 billion a month, but it has increased by double digits over the last year.

    00;02;23;25 - 00;02;51;16
    Mark Conrad
    The same is the case in key states such as Pennsylvania, Illinois, Colorado, and Michigan. But the giddiness that the states and the sports industry  which traditionally was against gambling because of the possibility of fixing games  have taken to gambling by monetizing the opportunities for sponsorship and data. But after seven years, there are storm clouds on the horizon that merit concern.

    00;02;51;18 - 00;03;25;01
    Mark Conrad
    First, reports of problem betting have increased. Second, the preferred method of betting  through mobile devices  has made the practice far easier than the days of going to a racetrack or casino, or, dare I say, illegal betting hubs tucked away in townhouses. It is no coincidence that a recent survey by the Siena College Research Institute and St. Bonaventure Universitys School of Journalism reported that one out of five American adults have an online betting account.

    00;03;25;04 - 00;03;55;22
    Mark Conrad
    The gambling industry has heavily encouraged more betting. A recent lawsuit highlights some of the tactics that betting companies have used to corral betters, even those who have addiction issues. A self-described problem gambler named Sam Antar, filed a lawsuit against several New Jersey casinos and BetMGM, an online service claiming violations of a New Jersey Consumer Fraud statute, as well as traditional negligence.

    00;03;55;24 - 00;04;29;06
    Mark Conrad
    He argued that he was enticed to gamble through dozens of bonuses, credits, deposit matches, and incentives by betting companies  despite their knowing or suspending that he is a compulsive gambler. All told, he claimed he lost $24 million in gambling, aided and abetted by the casinos and BetMGM. His complaint stated he received more than 1800 text messages over a seven-month period by the defendants.

    00;04;29;09 - 00;04;58;12
    Mark Conrad
    A federal trial court and a three-judge federal appeals court dismissed his claims as Mr. Antar could not prove that a duty of care existed between the gambling entities and him. Duty of care is a core requirement in negligence law which translates into demonstrating that a direct legal obligation exists between the defendant to the plaintiff to ensure that the defendants actions were made in a reasonable manner.

    00;04;58;14 - 00;05;37;06
    Mark Conrad
    Both the trial and appeals courts were likely correct in their conclusion on the legalities, and Mr. Antar has to take responsibility for his actions. It is astounding to lose $24 million in betting, but if these firms were bombarding the better with hundreds of messages enticing him to bet, that is also very troubling. It makes gambling more than a harmless vice because it is using the marketing power of the industry to get people to the casinos or to their phones to bet  betting from monies that could come from their wages or bank or brokerage accounts.

    00;05;37;08 - 00;06;04;07
    Mark Conrad
    It could also force bettors to get loans from family members or others. It may well be time to reevaluate Americas experiment with legalized sports betting. States or maybe the Federal government should adopt tighter restrictions on advertising and promotions. While advertising is protected by the First Amendment, the range of protection is not as broad as with other kinds of speech.

    00;06;04;09 - 00;06;33;29
    Mark Conrad
    Legislation has been introduced that would limit advertising in the broadcast media, but no action has been taken by Congress. It wont be an easy task to curb betting promotions as powerful interests  including state governments involved in the sports betting space  could object. But with the potential for more problem gambling, some limitations are needed. I discuss advertising and sponsorship restrictions in more detail

    00;06;34;01 - 00;06;59;24
    Mark Conrad
    in an article published last year in the Harvard Journal of Sports and Entertainment Law, which is listed in the written summary of this podcast. If you wish, however, you can find it at the website of the Harvard Journal of Sports and Entertainment Law by searching that title online. For the Sports Business Podcast at Fordhams Gabelli School of Business. Im Mark Conrad, or Prof.

    00;06;59;25 - 00;07;11;04
    Mark Conrad
    C, have a great day!



For More Information

Please contact Professor Mark Conrad, Director, Sports Business Initiative: [email protected] or [email protected]