Count billionaire Dallas Mavericks owner Mark Cuban as a supporter of Monday's Supreme Court ruling that could lead many states to legalize sports betting in the near future.
"I think everybody who owns a top four professional sports team just basically saw the value of their team double, at least," Cuban told CNBC.
The Supreme Court determined that a 25-year-old federal law that has effectively prohibited sports betting outside of Nevada is unconstitutional — a ruling Cuban said could drastically change the way sports are consumed.
"It could finally become fun to go to a baseball game again," Cuban said. "You know, all that down time. A basketball game, football, it's easy to see how you'll have fun at the arena, at the stadium, and while you're watching it, whether it's online, on traditional TV. ... I think this is something that benefits everybody."
Cuban added that the onus will be on the states to determine "how far" this can go.
"It really comes down to what the states do," Cuban said. "How the states handle the implementation, and what they allow, and whether or not they work together, will determine how all of this plays out."
NBA commissioner Adam Silver, who has supported the legalization and regulation of sports betting, also spoke on the ruling on Monday, releasing the following statement:
"Today's decision by the Supreme Court opens the door for states to pass laws legalizing sports betting," Silver said. "We remain in favor of a federal framework that would provide a uniform approach to sports gambling in states that choose to permit it, but we will remain active in ongoing discussions with state legislatures. Regardless of the particulars of any future sports betting law, the integrity of our game remains our highest priority."