Ben Gilbert

I looked it up just to put a number on this.

The current estimates are that 46 million Americans or 18% of betting age U.S.

adults bet on the NFL this year.

And that number continues to grow.

Yeah.

Wow.

People bet on the NFL more than any other sport in the U.S.

Variety reports 81% of sports bettors bet on NFL games versus just over 50% for the NBA and 44% for Major League Baseball.

Interestingly, the NFL doesn't generate meaningful revenue from betting yet, though I am sure they will in the future.

Hey-oh.

Hey-oh.

So I guess it's worth pausing to understand the shape of the NFL's business today and how the revenue breaks down.

So on average, about two-thirds of any given team's revenue comes from shared national revenue that we talked about.

The remaining one-third comes from the local revenue.

But again, this is just on average.

So some teams are very good at the local revenue, like the Dallas Cowboys, and some teams are very bad at this, like the Bills or the Lions.

And I have some numbers to put that in perspective.

This past year, each team got right around $350 million from the shared league revenue.

But that extra local revenue obviously can cause a gigantic swing in the team's total revenue.

And Forbes has an estimate that the Cowboys made over a billion dollars last year, whereas the Lions only made $450 million.