The NFL is the biggest sports league in America and, according to data on the website of consumer and market data company Statista, has one of the highest average attendances per game, one of more than 66,000.
You also only have to glance at the following of NFL teams on social media, too, to realize how big the sport is. Statista reports the Dallas Cowboys have the highest following on Facebook, commanding the attention of 8.3 million on the platform, while out on Twitter, the New England Patriots perform the same feat, having attracted the most followers at 4.3 million.
The NFL may be enjoyable to follow, but the league is as much a business as it is a sports league. Below is a look at NFL betting and at the business side of how the NFL operates.
Betting on the NFL
Betting on the NFL lines can be as simple or as complicated as the person laying the wager wants it to be. Lots of people place money on games to add to the excitement of following a game (or of following the league in general) and enhance their experience.
Betting against the spread
Betting against the spread is all about encouraging equal betting on both teams and is the most popular form of betting. If you bet on the favorite, not only does this team have to win, but they must also do so by more than number of points specified in the spread. If you bet on the underdog, the team doesn’t have to win, but must avoid losing by more points than the spread. If they win, you also win, of course.
Betting on the moneylines
Betting on the NFL moneylines is a little less popular than doing so against the spread, but it’s a lot more straightforward. Basically, you’re betting on the team you think is going to win the game outright. The team that has the minus sign next to it on the betting lines is the underdog.
Betting on totals over/under
This type of betting changes the focus. You’re now only betting on whether you think the number of points scored in the game will be more or less than the sportsbooks predict.
As the NFL looks forward to its first week, the sportsbooks have the Buffalo Bills down at around -130 to win the opening clash against the LA Rams, whereas a $100 bet would see you win an additional $10 or $15 on top of winning back your $100 stake if the Rams come out on top.
Another clash you might be interested in if you’re wishing to lay a wager in Week 1 could be the Ravens versus the Jets. Sportsbooks make the boys from Baltimore the favorites, offering -315 or lower on the betting lines. A victory from the New Yorkers would net you around +240 or more, including your $100 stake, if you’ve placed your faith in them.
The business of the NFL
Naturally, the NFL earns its money in lots of different ways. The business model consists of the national revenue and the local revenue.
National revenue relates to TV deals, which is the biggest source of revenue for the league, and to merchandising and licensing contracts. These are negotiated at the national level and the money is split evenly between the 32 teams in the league, regardless of their performance.
Local revenue refers to the teams earning revenue themselves. This comes in the form of ticket revenues, concessions and of corporate sponsorships. Big revenues are indispensable to cover the sky-high costs of running a professional team. Expenses can run into hundreds of millions.
TV deals
Football is the most viewed sport in the US. Live NFL games, which are broadcast on Mondays, Thursdays and Sundays, consistently receive high viewing figures, so media companies will happily pay major money for the rights to broadcast them.
Ticket sales and concessions
Teams can earn as much on average double-digit figures in the millions from a single, sold-out event. Generally, the revenue from ticket sales and concessions for live games is much less than TV deals. Teams can increase it, however, by renovating their stadiums and adding more seating.
Corporate sponsors
Corporate sponsors like to pay teams to display the company’s logo on players’ kits, on TV transitions, merchandise and more. Their big wish, however, is to achieve the rights to the naming of the stadium. This can be worth tens of millions a year.
Betting is one for fans to enjoy their experience of the NFL and, at the same time, for the league to generate revenue. Underneath the thrills and spills of the NFL is an organization that needs to make money to keep on operating and continue offering fans the games and all the other excitement of the NFL experience. As you can see, it’s very successful, a sign it’s clearly achieving this.
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