Purdum does a great job here.

I find this the funniest excerpt of all:

"Just weeks ago, on Jan. 24, the NBA laid out exactly what it has in mind -- a cut of the action. Under the NBA's blueprint, also supported by Major League Baseball, bookmakers would pay 1 percent of the amount bet on league events. The leagues would also have the right to restrict certain types of bets and perhaps force operators to pay for official league data to grade wagers.
"The legislation should recognize that sports leagues provide the foundation for sports betting," NBA senior vice president Dan Spillane told a New York State Senate committee, "while bearing the risks that sports betting imposes, even when regulated. Without our games and fans, there could be no sports betting."

[What legislation, Spillane? The question is if it's legal. Why should you get a cut of anything, when you stopped it or tried to stop it for so many years until now? ]

"Are they going to retroactively pay us for protecting their integrity for the past 40 years?" quips Salerno, who oversaw the first computerized book in Vegas and now runs USFantasy.

[]

Meanwhile, Silver's predecessor, David Stern, began meeting with horse racing officials this summer to examine how the Interstate Horseracing Act divides revenue between tracks, horsemen associations and the states.
'As an operator, when you go back to the small margins, there's not a lot to go around here," says Jay Kornegay, executive director for the Westgate SuperBook. "I don't want it to become the horse racing industry, where everyone takes too much out of the pot. What ends up happening is the consumer ends up paying for it'"

Of course, Kornegay is self interested, but what he says is the truth.