Shaquille O'Neal Reacts To NBA Gambling Arrests, 'I'm Ashamed'

Shaquille O'Neal on Thursday night addressed the bombshell arrests associated with current and former NBA players ... and he didn't hold back, saying he was "ashamed" of the guys for putting themselves in the situation.

Just hours after Chauncey Billups, Damon Jones and Terry Rozier were taken into custody for their alleged roles in illegal sports betting and rigged gambling schemes ... O'Neal chided the trio while on the set of "Inside the NBA."

O'Neal told his colleagues he's not a saint -- admitting he partakes in gambling from time to time -- but he added, "I'm ashamed that those guys would put their families and their careers in jeopardy."

"There's an old saying in the hood," the Lakers legend said. "'All money ain't good money.' So if you're making $9 million and you're dealing a certain thing -- like, how much more do you need? Especially if you know you get caught, you can do jail time. Lose your career. Put a bad image on yourself or your family. Or on the NBA."

"They dropped the ball."

Billups -- an NBA legend who's been the head coach of the Portland Trail Blazers the last few years -- was arrested in Oregon on Thursday morning after authorities alleged he helped Mafia members swindle cash from victims by fixing poker games. Rozier, a Miami Heat guard, was put in cuffs in Orlando around the same time over claims he helped bettors win wagers by giving them information that he planned to pull himself from a game in 2023 with a fake injury.

Jones, meanwhile, was arrested after prosecutors say the former Cleveland Cavaliers guard not only participated in the same card games Billups did ... but also doled out confidential NBA information to bettors as well.

Attorneys for Billups and Rozier both denied the allegations against their clients on Thursday evening ... but O'Neal nonetheless was disappointed in the hoopers.