The NBA has laid out a plan in which they would receive a percentage of every legalized wager on their game.

The NBA wants 1 percent of every bet made on its games in addition to other regulations, a request that could create massive revenue for the NBA and other sports leagues in the future.

NBA attorney Dan Spillane testified in front of a New York State Senate committee about the league's plan.

"We have studied these issues at length," Spillane said in his statement to lawmakers. "Our conclusion is that the time has come for a different approach that gives sports fans a safe and legal way to wager on sporting events while protecting the integrity of the underlying competitions."

In 2016, Nevada had $4.5 billion in sports wagers. When the numbers come in for 2017, they could be over $5 billion for the first time. 

While sports leagues have historically battled against wagering, they now see it as a lucrative revenue opportunity.

Pro leagues in Australia and France receive a small percentage of bets made on their sports. The NBA has studied Australia's laws closely in forming a position on the matter.