US Sports Leagues, Fretting Over Revenue, Warm Up to Legalized Betting – Wall Street Journal (subscription)

This weekend’s Final Four will determine the outcome of billions of dollars in bracket pools and other wagers related to college basketball’s marquee event. The vast majority of those bets, as they have been for decades, are illegal.

That could change soon. In recent months, the prospect of legalizing sports betting has picked up momentum. The most notable shift has come from some of the sports commissioners who once staunchly opposed gambling in all forms but now covet new revenue streams in the face of dwindling…