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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.

"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 th

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