NCAA committee adopts plan seeking to lift ban on college athletes placing wagers professional sports

Legendary sports agent Leigh Steinberg discusses the historic settlement that paved the way for revenue sharing.

The NCAA Division I Administrative Committee voted in favor of a proposal that paves the way for athletes to place wagers on professional sports. 

The proposal still has to receive clearance from Division II and III before it can go into effect. Those panels are expected to vote on the matter during their meetings later this month.

If the proposal gains final approval, the change could take effect as early as Nov. 1. However, collegiate athletes would continue to be barred from gambling on college sports.

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FILE - In this March 18, 2015, file photo, the NCAA logo is displayed at center court as work continues at The Consol Energy Center in Pittsburgh, for the NCAA college basketball tournament. (AP Photo/Keith Srakocic, File)

"The Administrative Committee was clear in its discussion today that it remains concerned about the risks associated with all forms of sports gambling, but ultimately voted to reduce restrictions on student-athletes in this area to better align with their campus peers," Illinois athletic director and committee chair Josh Whitman said.

NCAA COLLEGE BASKETBALL PLAYERS BANNED FOR BETTING ON THEIR OWN GAMES

"This change allows the NCAA, the conferences and the member schools to focus on protecting the integrity of college games while, at the same time, encouraging healthy habits for student-athletes who choose to engage in betting activities on professional sports."

FILE - In this Wednesday, March 18, 2015, file photo, the NCAA logo is on the court as work continues at The Consol Energy Center in Pittsburgh. (AP Photo/Keith Srakocic,