How NFL impacts the Economy

A brief overview of how the NFL consistently boosts the American Economy 

No matter what financial state the country is in, America can always rely on the NFL to bring a sometimes much-needed boost to the economy. 

The NFL benefits the economy in too many ways for us to list today. It boosts alcohol sales in both bars and grocery stores. It boosts takeaway sales. American apparel companies are kept in business by fans buying football apparel – hats, scarfs, football jerseys, etc. 

Not to mention the thousands of people who are employed by the NFL across the country – from the planner, the players, the coaches, and right down to the groundskeepers in the stadiums. 

The NFL has a gigantic impact on the American economy. It is the biggest sporting franchise in the world and America benefits from all the money it generates. 

Today, we are going to talk about three unexpected ways that the NFL impacts the economy. 

Betting 

Betting may not be the first thing that you think about when you think of the NFL – but the sportsbook (betting sites that focus entirely on sports) industry is worth billions of dollars. With the NFL being the most-watched sporting league in the country, a lot of the bests being made are being made on the NFL. 

When betting on the NFL it is possible to get on the results of each game, the results of the divisions, and the results of the playoffs. As well as, being able to put a bet on who will win the Superbowl before the season even starts. 

It is also possible to put Propositional bets down. These are any types of bets that aren’t based on the final results of a match or league. And in-play betting is also available from many sportsbooks. 

Some sportsbooks, like Fanduel, offer fantasy football betting on top of their traditional betting options. Fantasy Football allows you to play manager, select your ultimate NFL-winning team, and earn money from all the good choices you have made. If you know a lot about the sport, this can be a great way to boost your personal finances.  

Advertising 

It is widely accepted that Michael Jordan ushered in the current age of advertising for the NFL. His success with Team USA at the 1988 Olympics brought a worldwide audience to the sport, and advertisers quickly realized that they could make a lot of money by sponsoring the sport and its players. 

Jordan was the first – with his Air Jordans deal with Nike (that supposedly earns the company $1 billion a year), his appearance on cereal boxes, his clothing lines, his endorsements, and even his appearance in Space Jam. 

While Jordan was the first, he definitely wasn’t the last. With many players now earning more from advertising than they do from their contract with their team. 

Advertising during games is also a lucrative business for the NFL and the companies involved in it. Commercials during the Superbowl are notorious for being some of the most expensive airtime in the world. 

A 30 second commercial during the 2021 Superbowl cost $5.5 million dollars. That is $186,666 per second. These adverts are obviously worth the money, as many companies are forced to fight to get one of these spots.  

Local economies 

Finally, let’s talk about the effect that the NFL has on the local economies of each team. 

There are a total of 22 states that have NFL teams, with some of these states having 2 or more teams. 

One of the most interesting things about the NFL is the way they split the money they make from broadcasting matches. Every team is given an equal share of the broadcasting deal. This means that both the smaller and the larger teams benefit from the success of the biggest matches. 

This helps to prevent a wealth imbalance in the league, but it also means that the smaller teams can afford to pay their staff, players, and keep their stadiums upto date. 

The areas around most of the NFL stadiums have become highly commercialized, as the weekly games bring a huge amount of traffic to the area. 

The NFL does a lot to boost the tourism industry in a lot of the smaller states. Hotels in the areas of the stadium are nearly always sold out on game nights and the restaurants in the area are also completely booked up. 

While property prices around the stadiums are very high, on the whole everyone in the area sees a benefit from the traffic.