Wanna Make a Bet?
There are many comparisons between investing in stocks and sports betting. Today, the social stigma of betting on sports has decreased thanks to the 1992 Professional and Amateur Sports Protection Act (PASPA). Thanks to this Act, states can determine for themselves whether or not to legalize betting.
In other words, it’s no longer a big deal to bet on sports ever since the offshore sportsbooks became a viable resource back in the late ’90s, breaking up the monopoly of local wise guys whose “office” was a barroom or back alley used to pay or collect. The advent and legalization of daily fantasy sports was also a driving force in bringing gambling on individual players to the fore which was a natural segue for the legalization of betting on teams. It is interesting to note that daily fantasy sports was quickly embraced, while its forefather, sports betting, had been shunned by the granddaddy of all North American sports, the NFL, since its inception.
The National Football League’s hypocrisy is risible and current commissioner, Roger Goodell, is just the latest torchbearer to perpetuate the league’s public posture that sports gambling is antithetical to preserving the integrity of the league. Meanwhile, the NFL’s ratings continue to soar because of the very thing they allegedly oppose – betting! Every game has millions upon millions of dollars, both legal and illegal, riding on the outcome because football is a game tailor-made for wagering.
The NFL knows this and makes billions of dollars because of it through their live gates, television deals, and merchandising. Yet Goodell, like his predecessors, can sanctimoniously denounce the sins of sports betting while reaping the financial bonanza it yields. Nobody outside of New York and Jacksonville is watching the Jets vs. Jaguars on a Sunday afternoon if there wasn’t an audience financially invested in the outcome. Two moribund franchises, with no playoff expectations, brings zero interest unless there is a reward to be had at the end of the day for the viewers watching.
But times are changing and once the NFL inked a deal last season with DraftKings, now its “first-ever official daily fantasy partner”, the bluff can no longer be played. Goodell realizes it is nothing short of absurd to embrace one form of betting while decrying another. The NFL will make beaucoup bucks from the pact with DraftKings and has already softened its stance regarding sports betting simply because state and national legislators have finally caught up with the times and are getting in on this new source of tax revenue.
Goodell’s days of furrowing his brow and shaking his head, when asked about sports betting, are just about over. Even he must be relieved that he will no longer be required to wag his finger at the one thing that has made the league a financial juggernaut for all these years. Roger, the truth shall set you free!
There’s Money to be Made Betting the NFL
Like investing in the stock market, betting on sports, particularly the NFL, requires discipline and a fair amount of homework if you are determined to make money. If NFL franchises were publicly traded companies, the Kansas Chiefs would be Berkshire Hathaway as they are being lauded by basically everyone and it could be one hot franchise in which to invest.
The reigning champions are the favorites to repeat, and as of this writing you could find one of your favorite online sportsbooks and plunk down $100 now to make $650 six months hence if they do indeed win the Super Bowl again this season.
There are 32 teams in the NFL and the wagering opportunities are virtually limitless. You can bet a team to win their division, conference, and the Super Bowl. The oddsmakers also deal season win totals on each team and it’s your decision whether to go over or under that total depending on what your research tells you.
Naturally, the most popular NFL wagering is predicated on betting each game individually, with point spreads assigned based on how close or disparate the teams playing are in terms of talent. Like the stock market, it’s all about money management and diversifying your portfolio.
There are tremendous resources out there, like Sportsbook Review, which lists the good, bad, and the ugly of online sportsbooks and has handicapping analysis for each game on the board by a team of experts. So don’t sit on the sidelines this year, get in the game, and make some money watching the world’s greatest sport!