Arenas Pleads Guilty Sports Betting

That is a felony conviction that could see him doing jail time and end his NBA career.  The Wizards have struggled in online sports betting this season and it will be interesting to see how the loss of Arenas affects them.

Sports betting had Arenas getting suspended by NBA commissioner David Stern for his role in an incident that involved guns and a disagreement with Javaris Crittenton.  Stern suspended Arenas indefinitely and it is unclear what the future holds for Arenas in the NBA.  Arenas is not expected to get more than six months in jail.  Sports betting had him looking at anything from probation to a maximum of five years in jail but prosecutors are recommending six months or less.

The next sports betting issue to watch will be Washington trying to get rid of Arenas and terminating his contract.   The Wizards are likely to get a lot of support from the league if they try and release Arenas and not pay him.  Sports betting had the terms of his contract possibly permitting them to do just that although it remains to be seen. "Gilbert Arenas has been a cornerstone of the Washington Wizards for six years," the Wizards said, "We are deeply saddened and disappointed in his actions that have led to the events of this afternoon. Gilbert used extremely poor judgment and is ultimately responsible for his own actions."

Arenas has a lot of money at stake.  Sports betting indicated that he signed a six-year, $111 million deal and he still has four years and $80 million left on the contract.  Online sports betting noted that Arenas lost Adidas as his sponsor as they terminated their contract with him on Friday and that is not the worst of it for Arenas.   Online sports betting had the Wizards likely to try and cut Arenas and void his contract although it is likely the NBA Players Association will fight for Arenas.

Sports betting had Arenas averaging 22.6 points and 7.2 assists this season. He was playing well but online sports betting stats showed that Washington was still in last place in the Southeast Division. Washington is moving forward without any references to Arenas as all of his merchandise and pictures have been removed.