Malik Beasley Loses $42M Due to False Gambling Allegations

May 1, 2025; Detroit, Michigan, USA; Detroit Pistons guard Malik Beasley (5) fires up the crowd in the first half against the new York Knicks during game six of first round for the 2024 NBA Playoffs at Little Caesars Arena.

Malik Beasley may have lost out on tens of millions of dollars due to unsubstantiated gambling allegations.

In late June, the former Detroit Pistons guard faced a federal gambling examination. The news broke right before free agency, fueling social media clips that questioned Beasley’s effort on certain plays.

• Malik Beasley was the subject of a federal gambling investigation that ultimately found no wrongdoing.
• Allegations surfaced just before free agency, causing the Pistons to withdraw a $42 million contract offer.
• Beasley had a career-best season in 2024, playing all 82 games and averaging 16 points per game.
• His attorney stated that allegations without charges shoudl not have such severe consequences.

Gambling Probe Yields No Charges

While the allegations initially appeared suspicious, federal investigators found nothing to support them. On Jan. 31, unusual betting patterns focused on Beasley recording under 2.5 rebounds against the Dallas Mavericks.However, Beasley finished the game with six rebounds, making those bets losing ones.

crucially,the investigation involved a player prop where Beasley hit the over,the opposite of what someone would do if they were trying to manipulate an outcome.

Career-Best Season Unraveled

Beasley was coming off the best season of his career. He played all 82 games for the Pistons on a one-year contract, averaging 16 points per game.He also contributed to Detroit winning its first NBA playoff game since 2008.

However, the public release of the investigation just hours before free agency led the Pistons to pull a three-year, $42 million contract extension. Detroit then reallocated those funds to players like Caris LeVert, Duncan Robinson, and Javonte Green.

Lost Opportunities and Lingering Impact

Now cleared of any wrongdoing, other teams like the New York Knicks have shown interest in Beasley. Though, it remains unlikely that any contract offer will match the financial security he was poised to secure before the allegations surfaced.

The Brooklyn Nets are the only team with the cap space to possibly match the original offer. Yet, they may opt not to pursue him as they are currently in a rebuilding phase.

Beasley’s attorney, Steve Haney, commented, “An allegation with no charge, indictment or conviction should never have the catastrophic consequence this has caused Malik. This has literally been the opposite of the presumption of innocence.”

It’s difficult to argue with that sentiment. Beasley was on the verge of signing a deal that could have provided generational wealth.rather, a poorly detailed story became public, causing teams to understandably distance themselves from a player facing serious accusations.

Did you know? – The NBA has a comprehensive gambling policy prohibiting players from wagering on league games. Violations can result in suspensions or even lifetime bans.

With his name cleared, the initial lucrative offers have vanished, leaving Beasley

Pro tip: – Players should be cautious about associating with individuals involved in gambling, even if they aren’t directly participating in wagers, to avoid potential scrutiny.

Related