With the addition of legalized sports betting into today's world there is more and more speculation about players making bets and a gambling culture surrounding athletes. This week those concerns hit a new level when NBA free agent Malik Beasley's name was splattered across the news outlets.
Beasley is under federal investigation after being accused of allegedly gambling, in at least some form, on NBA games. The news didn't come to a surprise to Beasley's attorney who said this has been ongoing for 18 months, but that didn't stop the story from spreading like wildfire.
The story blew up because of not only who was making the alleged bets, but also why. According to multiple news outlets Beasley is $8 million in debt, has been sued several times, and the amounts make the story even stranger.
Just one of Beasley's debts is to his hair cutter and that number is a staggering $26,827, to Cairo Cuts. The business had to sue Beasley to try and recoup the funds. He also is being sued by his dentist for more than $30,000 and even his rent is overdue, and he was taken to court for almost $15,000 in that case.
These are just some of the oddity debts he has rung up. The more substantial includes taking out a $650,000 cash advance from Hazan Sports Management Group Inc., he was also sued several years ago by South River Capital, LLC, for nearly $6 million dollars.
This all leads to the investigation by the league that Beasley was gambling on the NBA. One sportsbook reportedly detected unusual betting activity on Beasley betting prop plays. Insiders have pointed to a January 31st game in 2024 matchup between the Bucks and Portland Trail Blazers as evidence. The odds on Beasley recording less than 2 1/2 rebounds moved significantly before the game, calling an alarm to the risk room. The line jumped from going +120 to more than 2 1/2 to 1 after the Under experienced a high amount of action. Beasley recorded six rebounds that night.
"An investigation is not a charge," Beasley's attorney, Steve Haney, told ESPN. "Malik is afforded the same right of the presumption of innocence as anyone else under the U.S. Constitution. As of now he has not been charged with anything.
The NBA has already had Miami Heat guard Terry Rozier give them a black eye when he was under federal investigation as part of a wider government probe into a sports gambling ring. They also have had Toronto Raptors forward Jontay Porter be banned from the NBA for life in 2024 due to his involvement in a gambling scandal.