June 30 marked the official start of free agency for the upcoming NBA season, but the summer has taken an unexpected turn for Malik Beasley.
Beasley, who was in talks to re-sign with the Pistons on a three-year, $42 million contract, is under federal investigation for gambling-related allegations, multiple media outlets are reporting.
According to ESPN, the allegations stem from the 2023-24 season, when Beasley played for the Milwaukee Bucks. Unusual betting patterns on Beasley player props were flagged by at least one sportsbook.
Specifically, the odds on Beasley registering ‘under’ 2.5 rebounds shortened dramatically, from about +120 to -250, ahead of the Bucks vs. Portland Trail Blazers game on Jan. 31, 2024. Beasley, though, grabbed six rebounds in his team’s 119-116 loss.
The Detroit News reports that New York FBI agents launched a wire fraud investigation involving Beasley and gambling 18 months ago.
The U.S. Attorney’s Office for the Eastern District of New York is overseeing the probe, said Beasley’s attorney, Steve Haney.
“It’s a gambling investigation involving Malik. No criminal charges have been issued,” Haney clarified. “It’s nothing but an investigation, and Malik is entitled to the presumption of innocence.”
The Pistons are aware of the situation, and the NBA said it’s cooperating with the investigation.
Beasley played for the Pistons last season under a one-year, $6 million contract. Talks on a new deal are on hold, per ESPN.
Another betting black eye for NBA
Beasley is the at least the third NBA player involved in an investigation regarding unusual betting patterns since the repeal of PASPA in 2018.
Last year, Raptors big man Jontay Porter was suspended by the NBA for multiple violations related to gambling.
Sportsbooks noticed suspiciously large bets on the ‘under’ of several Porter player props in two Raptors games. Porter left both games after playing just a few minutes, claiming injury or illness.
In one instance, he shared information about his health to a gambler, and another gambler played multiple Porter ‘unders’ in an $80,000 same-game parlay with DraftKings, which did not pay the $1.1 million in winnings, ESPN reported.
Porter also won nearly $22,000 on at least 13 bets he placed while in the G League.
Earlier this year, the NBA confirmed that Terry Rozier, now with the Miami Heat, is under federal investigation after unusual betting patterns were discovered on a Hornets game when Rozier was in Charlotte. The Rozier investigation is connected to the one involving Porter.
The NBA’s own investigation did not find Rozier to be in violation of any rules.
On March 23, 2023, Rozier left the Hornets’ against the New Orleans Pelicans with five points, four rebounds and two assists after playing about nine minutes in the first quarter. He did not play again for the rest of that season – the Hornets had just eight games left and were out of playoff contention.
Spotting irregularities, some sportsbooks took down Rozier’s prop betting markets hours before the game.
Rozier has not been charged with a crime, and the federal investigation is still ongoing.
Sports betting legalization and scandal
There’s a school of thought that the gambling controversies tainting pro sports have been caused by the legalization of sports betting. That’s a lazy argument.
Sure, sports betting has become more accessible since 2018, and sportsbooks’ incessant marketing drives temptation to get involved.
The counterargument, though, is that perhaps athletes had been gambling on their on sports, and worse, fixing games, all along, and the situations are easier to identify because of legality. The sports betting industry and leagues have mechanisms in place to flag unusual wagers and betting patterns and help uncover nefarious activity.
Still, though, leagues are partnering with sportsbooks and profiting from sports betting. Their athletes being investigated for potential gambling-related criminal schemes is something they desperately want to avoid.
