As Sports Betting Grows Will NFL Team Values Increase?
The NFL and their players might be getting a pay increase. This is all thanks to the growing market of sports betting across the nation.
It has been reported that the NFL team values could rise as much as $10 billion. Since the repeal of PASPA, the market and sports leagues, in general, have all benefited from the transition.
Rise in NFL Team Values Across the League
The NFL is arguably the most-watched and wagered on sport in America. The numbers do not lie, as each team’s value was roughly $4 billion in revenue in early 2000.
Fast forward to 2021, every team could be close to being valued at somewhere between $8-$10 billion due to sports betting. Indeed, the market has flooded with money in the interest of gambling on these teams.
These averages are subject to change too for revenues. In fact, owners believe that these numbers are for the average NFL team and that major franchises could earn even more revenue.
Opinion of Sports Betting has Changed
The NFL has not been shy at showing its love with partnerships in the sports betting market. This year alone has brought forth various sports betting opportunities with major names in the industry.
These names include DraftKings, Caesars Entertainment and even FanDuel. It also helps that they all signed multiple years of services for fans to have great betting opportunities in the sport, so this will be a significant opportunity for years to come.
Times have definitely changed, especially since the NFL had a firm stance in 1992 for PASPA. However, it is hard to ignore the NFL’s engagement with gambling since it has shown to be a very profitable and competitive thing to do in the nation.
These figures could also skyrocket even further from the predicted numbers mentioned above. This is because there are still a handful of teams that are not even allowed to bet yet or will be revealing their plans later this year.
A Handful of NFL Team Values Worth Over $2 Billion
So far, there are roughly 12 NFL teams that are valued at $2 billion and up. Below are the top three teams in the market by revenue each year:
- Dallas Cowboys: $5.7 billion
- New England Patriots: $4.4 billion
- New York Giants: $4.3 billion
As you can see, these are top betting markets and have some of the most dedicated fan bases. This, in turn, could provide a spark to the rest of the league as sports betting opportunities increase over time.
With various states allowing for the expansion of betting markets, this will increase their availability to wager on sports and cause some teams to increase their revenues exponentially. It would not be surprising to see some teams leapfrog one another to have more value.
For example, the Cleveland Browns have an estimated value of $2.35 billion and are close to the bottom of the list. With increased betting opportunities, you could definitely see their value rise and take over other teams.