NFL looks to enter the world of sports betting with major hiring
Sports betting has been raking in millions of dollars for years, and the NFL seems to be taking advantage of the market finally. The league recently posted a job position for their first Vice President, General Manager of Sports Betting.
The NFL is searching for its first Head of Sports Betting.
The VP position was originally posted in February 2020 and then removed due to a hiring freeze. https://t.co/hrWnpnb4Z0
The position was first posted about two years ago but was taken down during a hiring freeze due to COVID-19. The NFL seems ready to launch its sports betting division sometime in 2022. It has an "awkward" timing to do so, though.
As you may know, the NFL bans all employees from betting on any games. This includes those in the front office and the players and coaches themselves. The league wants to protect the integrity of the game and stop any chances of games being "thrown" in favor of winning a bet. Unfortunately, as we recently saw with Atlanta Falcons receiver Calvin Ridley earlier this month, it still happens.
Calvin Ridley got caught because he placed a legal mobile bet in Florida with Hard Rock. They notified Genius Sports, who oversees betting integrity for the NFL. Ridley placed 3, 5 and 8 game parlay bets that did include the Falcons, per source.
Ridley stepped away from football during the 2021 season to focus on his mental health but was found guilty of placing parlay bets on several NFL games. While there is no evidence that the games were "tarnished" or "swayed" from the bet, Ridley will still be suspended for at least the entire 2022 season as punishment. If it's illegal for employees of the NFL to bet on their games, then why have a division dedicated to it?
It's all about the money. The NFL passes on hundreds of millions each year by not being in the sports betting business. As you can read from the job posting above, the league wants to hire a head of the division who can build their sportsbook while also keeping the "integrity of the game" intact.
Not defending Calvin Ridley here, but if the NFL is going to go all-in on sports betting, you can’t expect players not to explore those kind of opportunities. You cant suspend a player for gambling with no inside knowledge while actively promoting gambling at every corner
They can create their sportsbook that compares to FanDuel or DraftKings. The league is already involved in fantasy football, which is just a different form of sports gambling and one that players can partake in. The NFL can cut out the middle man and allow fans to place wagers directly to the league. It's still unknown on the exact route the division will take, but you can bet on Roger Goodell making millions in revenue from it (pun intended).
Just how profitable can sports betting be for NFL?
Just four years ago, you could only bet on sports in Nevada. Since then, many states have legalized it and have taken full advantage of the profits. In 2019, states like Pennsylvania and New Jersey brought in more than $1 million in revenue for sportsbooks, with Jersey being the heavy-hitter with more than $18 million in January. In January 2022 alone, New Jersey had $60 million in revenue, and Pennsylvania had $53 million.
New York happens to be one of the states where you can legally bet on sports, and they had $123 million in January 2022. With the league office being located in New York, there are minimal obstacles to overcome to launch a sportsbook. In the first month alone after launch, they could draw in a minimum of $1 million with ease.
The quicker they get onboard, the more states that legalize sports betting, and the more revenue they will bring in. This could be the start of a brand new business model for the league and could change the landscape of how other sports leagues conduct sports betting.